The Aloe Vera Gel Market size is estimated to reach $621.4 million by 2027. Furthermore, it is poised to grow at a CAGR of 7.4% over the forecast period of 2022-2027. Aloe vera gel has been used by mankind in various forms for multiple purposes. Aloe vera as a food ingredient has been used to treat high blood sugar and to reduce the chances of gastric ulceration. Additionally, aloe vera is a mucopolysaccharide that would help in intestinal motility and glutathione reductase. Furthermore, aloe vera has been extensively used by the personal care industry and cosmeceuticals owing to its excellent moisturizing properties, thereby, helping in reducing incidences of wrinkles and acne. Owing to the presence of various vitamins and minerals, it has been an extensive source of anti-aging cream. The growing geriatric population can be inclined to use such creams if the product is positioned as such. Various health benefits of aloe vera gel such as its antibacterial, antiviral and antiseptic properties; the ability to accelerate wound healing, reduce dental plaque and help treat mouth ulcers; positive laxative effects; and the ability to improve skin and prevent wrinkles are the plausible driver for the Aloe Vera Gel Industry for the projected period of 2022-2027.
Aloe Vera Gel Market Report Coverage
The Report : “Aloe Vera Gel Market Forecast (2022-2027)”, by Industry ARC covers an in-depth analysis of the following segments of the Aloe Vera Gel Market.
By Nature : Conventional & Organic.
By End-Use Industry : Cosmetic and Personal Care Industry, Food and Beverages Industry, and Pharmaceutical Industry.
By Distribution Channel : Offline and Online.
By Geography : North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), and Rest of the World (the Middle East, and Africa)
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- Geographically, Asia-Pacific held a dominant market share in the year 2021. It is owing to the predominant position of producing aloe vera in parts of India and China, which gives it an exclusive benefit. Further, the demand for using aloe-Vera has been profound owing to various medicinal benefits and ayurvedic preferences. However, North America is expected to offer lucrative growth opportunities in the projected period of 2022-2027 owing to better nutraceutical industry growth along with ayurvedic use.
- Various health benefits of aloe vera gel such as antibacterial, antiviral, and antiseptic properties; the ability to accelerate wound healing, reduce dental plaque and help treat mouth ulcers; positive laxative effects; and the ability to improve skin and prevent wrinkles are the plausible driver for the market. However, sensitive conditions to incur/ grow aloe vera plantation has been a limiting factor.
- A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Aloe Vera Gel Market Report.
Aloe Vera Gel Market- Geography (%) for 2021.
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Aloe Vera Gel Market Segmentation Analysis- By End-Use Industry
The aloe vera gel market based on the end-use industry can be further segmented into the Cosmetic and Personal Care Industry, Food and Beverages Industry, and Pharmaceutical Industry. The cosmetic and Personal Care Industry held a dominant market share in the year 2021. It is owing to the widespread usage of aloe vera gel in fulfilling various needs, especially pertaining to the skin. Aloe vera gel has been an excellent skin healer and provides protection against skin burn. Aloe vera acts as a protective layer of the skin and helps replenish its moisture. Regions such as Australia receive an additional 7% solar UV intensity, while also receiving 15% more UV than Europeans.
However, Pharmaceutical Industry is estimated to be the fastest-growing, with a CAGR of 8.6% over the forecast period of 2022-2027. It is owing to the overall nutritional qualities which allow a multi-dimensional use. Further, type-II diabetes can be bought under control using such products in continuation. As per WHO, around 490 million people globally suffer from diabetes.
Aloe Vera Gel Market Segmentation Analysis- By Distribution Channel
The aloe vera gel market based on distribution channels can be further segmented into Offline and Online. The offline segment held a dominant market share in the year 2021. It is owing to the preferential selling techniques to advertise new products that are favored through hypermarkets and supermarkets. Further, such products have a higher shelf life which allows for better chances of being used by the consumer. Offline retailers try to mend new strategies, by giving bulk discounts up to 10-12% to induce sales on the newer products.
However, the Online segment is estimated to be the fastest-growing, with a CAGR of 8.8% over the forecast period of 2022-2027. It is owing to heavy discounts and newer digital sales strategies which propels confidence and instill discounts at various checkpoints. Moreover, celebrity endorsements and codes allow for better positioning. Lastly, consumers in various economies are highly price-sensitive, thereby online selling channels can provide additional ways. For example, Mama Earth aloe vera gel is available at a discount of 15% against the MRP of INR 300.
Aloe Vera Gel Market Segmentation Analysis- By Geography
The aloe vera gel market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and Rest of the World. Asia-Pacific held a dominant market share of 31% as compared to the other regions in 2021. China and India are the dominant marketable places for aloe vera, and both the regions provide excellent profit metrics for wholesalers and retailers. As per an individual farmer review, a profit of around INR 4,72,000 can be generated from 2,000-acre farming of aloe vera owing to high-product demand.
However, North America is expected to offer lucrative growth opportunities to marketers in the projected period of 2022-2027. It is owing to the enormous demand being seen in the green beauty segment. Further, in a data report, consumers surveyed reported that they’d be keener to purchase beauty or food items that are sourced sustainably, from local farmers, and are organic in their nature.
Aloe Vera Gel Market Drivers
The property of aloe vera gel to combat and prevent skin wrinkles, and aging effects have allowed the market to space.
Natural or green beauty has been a growing discipline within the Cosmeceutical Industry. Green beauty is anything and everything which is sourced using ethical and sustainable practices, without relying on animal cruelty. Aloe Vera gel has been extensively used to prevent wrinkles and acne. Since aloe vera is rich in anti-inflammatory properties it can kill and fight against acne-causing bacteria. Acne has been regarded as a common skin condition within the US, affecting around 50 million of their population. Furthermore, as per AAD, 85% of people within the age bracket of 12-24, experience acne at least once in life. Aloe vera gel is also rich in aging factors. Aloe vera contains numerous antioxidants that include beta-carotene, vitamin C, and E that can help improve the skin's natural firmness and further keep it hydrated. The geriatric population is booming in various parts of the world, as by 2030 around 25% of the US population would be above the age bracket of 65, of which a dominant position is held by women. Owing to such factors, the market would be driven at a good pace.
The medicinal use of aloe vera gel in controlling various forms of cardiovascular diseases allows the market to reach exponential potential.
As per a report by Herbal Medicines, aloe vera gel contains around 200 active substances primarily including vitamins, minerals, enzymes, and polysaccharides. All the said components work together to provide the desired result. Aloe vera gel is a powerful anti-inflammatory that can help in treating various forms of health complaints, including constipation-colic, and high blood pressure issues. Within the U.S., around 50% of the entire adult population suffers from hypertension, of which only one-third take medicines to control. As per a report from National Center for Complementary & Integrative Health, aloe vera gel can also help in compensating for cases of osteoarthritis, bowel diseases, and forms of fever. As for treating type-two diabetes, a review published by the Journal of Alternative And Complementary Medicines, aloe vera gel can help in lowering fasting blood sugar by 46.6 milligrams per decilitre, while also controlling A1C blood sugar levels by 1.05%. Owing to such medicinal properties, the market carries the potential to grow exponentially.
Aloe Vera Gel Market Challenges
Sensitive conditions to incur/ grow aloe vera plantation has been a limiting factor.
Aloe-vera commercial farming is gaining market traction owing to high profitability metrics. The average yield of Alow Vera leaves for one hectare of land is estimated to be 15 to 20 tonnes. However, the industry remains highly unregulated which often created wide-scale problems, especially during plantations. One of the limiting factors for the growth of aloe vera is pests. Mealybugs are one of the common mites which affect aloe-vera plants, as they can suck all the sap of the plant, by piercing right through the plant tissues. Additionally, since it is a desert plant, a stint of high water can plausibly spoil the entire acreage. Owing to such factors, the market’s growth can be potentially hindered.
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Aloe Vera Gel Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Aloe Vera Gel Market. Top-10 Aloe Vera Gel Market key companies are-
- 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.
- Aloe Laboratories Inc.
- ALOE VERA AUSTRALIA
- In April 2022, CHI Haircare launched its CHI Naturals with Aloe Vera gel and Hyaluronic Acid Collection. CHI Naturals with Aloe Vera and Hyaluronic Acid provides an infusion of hydration and nourishment to lock in moisture and increase shine and softness in both the hair and skin.
- In August 2021, Ceremonia Oil Mist Con Aloe Vera product has been launched as a blend of powerful Latin American ingredients bottled into a micro-mist formula, which allows the hair to maintain hydration and shine without the heaviness of oil. This ultra-fine mist features restorative, nutrient-packed ingredients including Aloe Vera and Mexican Chia Seed Oil that help protect strands, condition hair, and boost shine. For an instant infusion of hair nutrition that all hair types will enjoy.
- In August 2021, Biossance Squalane+ Amino Aloe Gentle Cleanser, and is a blend of ingredients of aloe vera and moringa extract. The following product would allow for a healthy glow. Additionally, squalane would be added from sugarcane, it mimics the body's natural hydrating oils to provide weightless moisture to deliver active ingredients deep into the skin and prevent over-drying. It would allow experiencing a satisfying, deep cleanse through a gentle foaming gel which would envelop a non-stripping formula for softness.