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.
Because of the therapeutic, botanical, and restorative qualities it provides, aloe vera is well-known around the world. A member of the Liliaceae family, the aloe vera plant is mostly cultivated in tropical nations including the United States, Mexico, China, India, Korea, and others. Aloe vera gel is made from the plant’s inner leaf and primarily contains water, along with trace amounts of minerals, hormones, enzymes, vitamins, amino acids, and carbohydrates. Due to its many beneficial qualities and numerous uses in a variety of industries, including cosmetics, healthcare, personal care, baby care, food and drinks, and others, aloe vera gel offers a wide range of advantages.
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Due to the widespread usage of aloe vera gel as a nutritional supplement and an ingredient in the cosmetic sector for the treatment of skin conditions like acne, rejuvenating the skin, smoothing the skin and hair, and more, there are a lot of chances for market participants in the aloe vera gel market. Juices and culinary ingredients can also contain aloe vera gel to add extra nutritional elements and quick vitality.
Growing Focus on Product Promotion through Various Consumer Platforms Surging the Demand for Aloe Vera Gel
The market for aloe vera gel is expanding as a result of the rise in health and fitness shows and events over the past several years. Manufacturers of aloe vera gel concentrate on using these programmes to promote their products. Additionally, aloe vera gel producers place a strong emphasis on raising brand awareness through various promotional activities. The advertising of aloe vera gel beverages through direct selling channels also aids in raising awareness and revenue.
Aloe vera gel’s potential advantages are becoming more widely known to consumers because to advertising for products made with natural ingredients in magazines, TV shows, and newspapers.
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.
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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.
Market Segmentation
Following are the major segments in the aloe vera gel market:
Aloe Vera Gel Market by Nature
- Organic Aloe Vera Gel
- Conventional Aloe Vera Gel
Aloe Vera Gel Market by End Use
- Hair Care
- Skincare
- Toiletries
- Baby Care
- Healthcare
- Food and Beverages
- Other End Uses
Aloe Vera Gel Market by Distribution Channel
- Direct
- Supermarkets/Hypermarkets
- Specialty Stores
- Pharmacy Stores
- Convenience Stores
- Online Retail
- Others
Aloe Vera Gel Market by Region
- North America
- Latin America
- Eastern Europe
- Western Europe
- APAC
- Middle East & Africa
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Key Questions Answered in the Report
- What is the size of aloe vera gel market?
In 2021, aloe vera gel market is valued at US$ 315 Mn, and expected to grow at 7.8 % CAGR.
- Which are the leading companies in aloe vera gel market?
The major players in the global aloe vera gel market are Terry Laboratories, Inc., Aloe Laboratories, Inc., Lily of the Desert, Inc., Inc., Aloe Farms, Inc., Natural Aloe De Costa Rica, S.A, Real Aloe Solutions Inc., Now Health Group, Inc., Aroma Treasures, Forever Living Products International, Inc., and a Improve USA Inc.
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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