The global aloe vera gel market is estimated at USD 337.7 Million in 2022 and is projected to reach USD 712.3 Million by 2032, at a CAGR of 7.8% from 2022 to 2032. Globally, the market is estimated to create an absolute opportunity of about USD 374.6 Million by 2032.
Aloe vera is popular worldwide due to the medicinal, herbal, and remedial properties it possesses. The aloe vera plant is a species of the Liliacea family, and is majorly grown in tropical regions such as the United States, Mexico, China, India, Korea, and others. Aloe vera gel is derived from the inner leaf of the plant, and comprises majorly of water content and minerals, hormones, enzymes, vitamins, amino acids, and sugars in small amount. Aloe vera gel offers a wide range of benefits, owing to its diverse beneficial properties and applications in several industries, such as cosmetics, healthcare, personal care, baby care, food and beverages, and others.
There are immense opportunities for market participants in the aloe vera gel market, owing to the enormous use of aloe vera gel as an ingredient in the cosmetic industry for the removal of acne, revitalizing skin, smoothing the skin and hair, for skin treatments, and more. Aloe vera gel is also used for juices and as a food ingredient for providing additional nutritional supplement and instant energy.
Growing Focus on Product Promotion through Various Consumer Platforms Surging the Demand for Aloe Vera Gel
In recent years, the number of health and fitness shows and events has increased, worldwide, which, in turn, is driving the growth of the aloe vera gel market. Aloe vera gel product manufacturers are focused on targeting these shows for product promotions. Moreover, aloe vera gel manufacturers are also laying emphasis on increasing brand visibility through various promotional events. The promotion of aloe vera gel drinks in direct selling channels is also helping foster revenue growth and awareness.
The advertising of natural ingredient-based products in magazines, TV lineups, and newspapers is increasing consumer awareness about the potential benefits of aloe vera gel.
North America to Dominate the Global Aloe Vera Gel Market
The North American region is estimated to account for around 44.5% of the market share for aloe vera gel in 2018 by value, with the U.S. having the highest share in the region, with an estimated value share of 90%, and the projected aloe vera gel market value to be US$ 100.9 Mn in 2018. In addition, the APAC region also is estimated to showcase prominent growth in the aloe vera gel market during the forecast period, with a CAGR of 8.8% by value, owing to growing urbanization, increase in the disposable income of consumers, high millennial population, and changing lifestyle and food & beverage preferences.
e-Commerce One of the Fastest Growing Distribution Channels in the Aloe Vera Gel Market
The fastest-growing distribution channel in the aloe vera gel market during the forecast period is projected to be e-Commerce platforms, which is estimated to grow at a CAGR of 10.4%, with a BPS of 436, owing to technological and digital advancements, and increase in the number of consumers, especially the millennial population using smartphones and other digital mediums to buy various food and beverages, cosmetics, homecare, and grocery products with just a click while sitting at their places.
Global Aloe Vera Gel Market: Competition Dashboard
FMI has profiled some of the prominent market participants in the global aloe vera gel market identified across the value chain, such as Terry Laboratories, Inc., Aloe Laboratories, Inc., Lily of the Desert, Patanjali Ayurved Ltd., Aloecorp, Inc., Pharmachem Laboratories, Inc., L'Oréal S.A., Herbalife International, Inc., Aloe Farms, Inc., Natural Aloe De Costa Rica, S.A, Foodchem International Corporation, Real Aloe Solutions Inc., Now Health Group, Inc., Aroma Treasures, Fruit of the Earth, Inc., Nature's Essence Pvt. Ltd., Forever Living Products International, Inc., and a Improve USA, Inc., among others.
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Global Aloe Vera Gel Market by Category
By Nature :
- Organic Aloe Vera Gel
- Conventional Aloe Vera Gel
By End-Use :
- Hair Care
- Skincare
- Toiletries
- Baby Care
- Healthcare
- Food and Beverages
- Other End Uses
By Distribution Channel :
- Direct
- Supermarkets/Hypermarkets
- Specialty Stores
- Pharmacy Stores
- Convenience Stores
- Online Retail
- Other Sales Channel
By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
