Global Aloe Vera Extract Market - 2023-2030

Market Overview

The Global Aloe Vera Extract Market reached US$ 2.2 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 4.3 billion by 2030. The market is growing at a CAGR of 8.7% during the forecast period 2023-2030.

Aloe vera extract is a herbal extract derived from the Aloe vera plant, which is known for its medicinal properties. Aloe vera extract is widely used in the skincare and cosmetics industry due to its soothing, moisturizing, and healing properties. It is used in products such as lotions, creams, gels, and masks to provide hydration, reduce inflammation, and improve skin health.

The market trend towards natural and plant-based ingredients has further fueled the demand for Aloe vera extract in skincare and cosmetics products. For instance, according to National Library of Medicine, Aloe vera whole leaf extract, including the gel and the latex, contains more than 200 chemical substances. The raw Aloe leaf is composed of approximately 98.5% water, the remaining solid material contains a range of compounds including nutrients and non-nutrients.

Market Dynamics

Rising Demand for Aloe Vera in Healthcare Fuel the Growth of the Aloe Vera Extract Market

Aloe vera has been used for centuries as a traditional medicine for various ailments. Aloe vera has long been used to treat digestive issues such as constipation, diarrhea, and irritable bowel syndrome (IBS). Aloe vera contains compounds that have been shown to soothe and heal the lining of the digestive tract, as well as promote healthy gut bacteria. As digestive health becomes an increasingly important focus for consumers, the demand for aloe vera extract as a natural remedy for digestive issues is expected to grow.

Aloe vera contains compounds that have been shown to boost the immune system. It has been used to treat viral infections, including colds and flu. As consumers become more interested in natural remedies to support their immune systems, the demand for aloe vera extract as a supplement is expected to grow. aloe vera may help to regulate blood sugar levels in people with type 2 diabetes. As the prevalence of diabetes continues to increase globally, the demand for natural remedies to manage the condition is also growing. This could drive the demand for aloe vera extract in the healthcare sector.

The Aloe Vera Extract Market is Being Driven by Rising Dietary Supplement Consumption

The global nutraceutical industry has been experiencing significant growth in recent years. Nutraceuticals are products that combine the benefits of nutrition and pharmaceuticals, promoting health and well-being. Aloe vera extract, with its potential health benefits and bioactive compounds, is gaining popularity as a dietary supplement within this industry. According to National Library of Medicine, more than 300 million people worldwide consume dietary supplements and herbal plants, and about one-half of Americans use them regularly.

Aloe vera extract contains antioxidants, such as vitamins C and E, and polyphenols, which help combat oxidative stress and protect the body from free radicals. Antioxidants are associated with various health benefits, including supporting overall well-being and reducing the risk of chronic diseases. The antioxidant properties of Aloe vera extract contribute to its appeal as a dietary supplement.

High Initial Costs and Low Return on Investment Hamper the Market Growth of Aloe Vera Extract

The production of high-quality aloe vera extract requires significant investment in equipment, processing facilities, and skilled labor. The cost of maintaining and cultivating the aloe vera plants themselves can also be high, given that they require specific growing conditions to thrive. These high initial costs can be a significant barrier to entry for new players in the market, which can limit competition and ultimately constrain market growth.

Despite the high initial costs, the return on investment for aloe vera extract can be relatively low. This is because the market for aloe vera extract is highly competitive, and the price of the extract is often driven down by cheaper, lower-quality alternatives. In addition, the limited availability of aloe vera plants can drive up the cost of raw materials, which can further eat into profit margins. In conclusion, the high initial costs and low return on investment are significant restraints on the growth of the aloe vera extract market.

COVID Impact:

The COVID-19 pandemic has led to changes in consumer behavior, including a shift towards online shopping and an increased focus on health and hygiene. These changes may have influenced the way consumers purchase Aloe vera extract-based products, such as skincare items, dietary supplements, and beverages. E-commerce platforms and direct-to-consumer channels may have gained importance during this time. The Aloe vera extract market relies on global trade and supply chains for sourcing raw materials and distributing finished products. The pandemic has caused disruptions in international trade, including restrictions on travel, closures of manufacturing facilities, and delays in transportation. These disruptions may have impacted the availability and cost of Aloe vera extract and its derivatives.

Russia-Ukraine War Impact:

Ukraine is a major transit country for Russian natural gas exports to Europe. Any disruptions in the gas supply due to the conflict can impact energy prices and supply stability in the region. This can have ripple effects on industries reliant on energy, such as manufacturing and transportation. Geopolitical tensions and armed conflicts can deter foreign investors from entering or maintaining investments in the affected countries. Political instability, economic uncertainties, and security concerns may lead to capital flight and a decrease in foreign direct investment (FDI). This can hamper economic growth and development prospects.

Segment Analysis

The global aloe vera extract market is segmented based on product type, form, application, distribution channel, and region.

Increasing Interest in Natural and Organic Products in the Cosmetics Industry

Based on application, aloe vera extract is classified into food & beverages, cosmetics, and pharmaceuticals. Consumers are increasingly interested in natural and organic skincare products that are free from synthetic chemicals and potentially harmful ingredients. Aloe vera extract is a natural ingredient that is perceived to be safe and gentle on the skin, making it an attractive choice for consumers. For instance, Sollice Biotech, a cosmetic ingredient supplier company has a product named Sollice Biotech's 200X Aloe vera powder which has a high aloeverose content must be greater than or equal to 8% according to their specification.

Aloe vera extract is well-known for its benefits for the skin. It has moisturizing and anti-inflammatory properties, which can help to soothe and heal dry or irritated skin. Aloe vera extract is commonly used in skincare products such as moisturizers, serums, and face masks. Aloe vera extract is rich in antioxidants, which can help to protect the skin from free radical damage and slow down the signs of aging.

Geographical Analysis

Growing Pharmaceutical and Cosmetics Industry in the Asia-Pacific Region

Aloe vera has been used in traditional medicine in many Asian countries for centuries, particularly in China and India. This has led to a high demand for aloe vera extract in the region. Aloe vera is a tropical plant that thrives in warm, humid climates. The Asia Pacific region has many countries with such climates, making it an ideal region for aloe vera cultivation.

According to Multinational Integrated Data Analysis conducted by IMS Health, the estimated global sales of Aloe products have reached US $351 million. There is a growing trend towards natural and organic products in the Asia Pacific region, and aloe vera extract is seen as a natural and safe ingredient in many products, including skincare, haircare, and dietary supplements. Hence, the growing pharmaceutical and cosmetics industry in the Asia-Pacific region has contributed to having a significant share of the aloe vera market.

Competitive Landscape

The major global players include: Lily of the Desert Organic, Aloe Farms Inc., Aloecorp Inc., Pharmachem Laboratories Inc., Foodchem International Corporation, Natural Aloe Costa Rica S.A., Aloe Laboratories, Inc., Terry Laboratories, Inc, Roche, Calmino Group AB.

Why Purchase the Report?

• To visualize the global aloe vera extract market segmentation based on product type, form, application, distribution channel, and region and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous aloe vera extract market-level data points all for segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global aloe vera extract market report would provide approximately 69 tables, 70 figures, and 102 pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies