The Global Aloe Vera Extract Market was valued at US$ 2,573.1 Mn in 2022, according to Global Aloe Vera Extracts Market Report, by Product Type (Aloe Vera Gel Extract, Aloe Vera Whole Leaf Extract, Others), by Form (Gel, Drinks, Powders, Capsules, and Concentrates), by End Use Industry (Food, Cosmetics, and Pharmaceuticals), and by Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa) published by. The global Aloe Vera Extract Market is projected to reach US$ 5,260.2 Mn by 2030, exhibiting a CAGR of 9.35% during the forecast period (2023-2030). Aloe vera extract is extracted from the inner parts of the aloe plant leaf and has numerous benefits on skin conditions such as acne, an inflammatory skin condition, inflammation in the mouth, radiation-induced skin damage, and burning mouth. Moreover, aloe vera extract is also used in the treatment of asthma, seizures, colds, bleeding, swelling of the colon (colitis), eye conditions that cause blindness (glaucoma), hemorrhoids, joint inflammation, multiple sclerosis, varicose veins, osteoarthritis, and vision problems. Moreover, aloe vera extract is also applied to the skin as an insect repellent. Increasing consumer preference for natural and healthy remedies is a prime factor fueling the market growth of aloe vera extract. The rising launch of aloe vera-based products in the market is also projected to propel the market growth of aloe vera extract. For instance, In June 2020, Emami, Emami Limited is one of the leading and fastest growing personal and healthcare company, launched two variants such as organic aloe vera gel and organic aloe vera gel with Haldi Chandan Kesar under its BoroPlus brand. As a result, the market is expected to develop as aloe extract is increasingly used to create a variety of cosmetic and food items. Additionally, the industry is poised for a lucrative expansion in the years to come as a result of consumers' increased preference for natural and organic components. Growing usage of aloe vera extract in the manufacturing of digestive healing products such as prebiotics and probiotics which support digestive health is projected to offer immense growth opportunities to the market growth aloe vera extract. Moreover, aloe vera-based products are rich in calcium, and magnesium and have sufficient prebiotic activity. For instance, Juicy Chemistry introduced aloe extract-based goods including aloe vera juice and gel to the Indian market in May 2022, Juicy Chemistry creates, distributes, and sells more than 100 skincare products, including cleansers, toners, moisturizers, and oils. The lack of proper harvesting methods has affected the quality of aloe vera extract and does not contain the optimum nutrients. This is expected to hamper the market growth of aloe vera extract. Moreover, increasing usage of chemicals in order to prevent deterioration in the product is further projected to hinder the market growth of aloe vera extract. Also, the processing method includes a high level of heat that can damage the useful bio-active ingredients and impact the quality of the raw material, and leads to adulteration. According to Terry Laboratories’ Jim Gambino, numerous companies use fillers or cornstarch in their raw materials or finished products and pass them off as pure aloe vera products. Increasing usage of aloe vera in the production of Zero sugar beverages is presumed to add enormous growth to the market of aloe vera extract. Many manufacturers of aloe vera products are rapidly introducing low-calorie fruit juice and packaged drinking water containing aloe vera. For instance, Simplee Aloe introduced two low-sugar aloe vera water products in the UK in April 2021. In the case of the global aloe vera extracts market, the absence of artificial sweeteners in drinks made with aloe vera extracts is anticipated to increase demand for drinks during the forecast period.
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Browse 45 market data tables* and 30 figures* on "Global Aloe Vera Extract Market” - Global forecast to 2030.
Key Takeaways of the Market:
- Based on Product Form, the market is bifurcated into capsules/tablets, liquid, powder, gel, and others. The global market's liquid segment is anticipated to grow at the highest CAGR during the projection period. The increasing use of herbal extracts in cosmetics, including skin, hair, and body care products, is blamed for the segment's growth. Other factors influencing the growth of this market include the aging population and cases of skin issues.
- Major players operating in the global aloe vera extracts market include Lily of the Desert Organic Aloeceuticals, Aloe Farms Inc., Terry Laboratories Inc., Foodchem International Cooperation, Natural Aloe Costa Rica S.A., Pharmachem Laboratories Inc., Aloecorp Inc., and Aloe Laboratories Inc.
