Aloe vera market is anticipated to grow at a considerable CAGR of 7.5% during the forecast period. The major factor driving the demand for aloe vera is attributed to factors such as the increasing health awareness among consumers, and growing preference for products that are natural and effective for personal care. Further, the launch of new and innovative products by the market players is another factor anticipated to fuel the demand for aloe vera. For instance, in May 2022, Juicy Chemistry launched certified organic aloe vera gel & aloe vera juice. These products are mutually beneficial for hair and skin alike, the products are designed to soothe acne and skin burns along with multiple other benefits. As per the company, they also enhance the skin's moisture retention capacity and promote collagen production, maintaining its natural elasticity and youthfulness. The proteolytic enzymes in these products repair dead skin and promote hair's prolonged growth cycle. Both products contain enzymes with anti-inflammatory properties that are good for skin-care routines.

Segmental Outlook 

The global aloe vera market is segmented based on its product type, distribution channel, and application. Based on product type, the market is segmented into gel, powder, capsule, and liquid. Based on the distribution channel the market is categorized into online, and offline. Further, based on the application, the market is segmented into food, pharmaceutical, and cosmetic.  Among the product type segment, the gel sub-segment is anticipated to register significant growth during the forecast period. 

Among the application segment, the cosmetic sub-segment is anticipated to register significant growth during the forecast period. The growth of the cosmetic sub-segment is attributed to the factors such as the adoption of herbal or organic ingredients-based products for personal grooming, such as facial creams, moisturizers, anti-aging products, face wash, and sunscreens. Furthermore, the launch of new cosmetic products containing aloe vera is also anticipated to fuel the demand for aloe vera products in the market. For instance, in March 2022, Clensta International, a Gurgaon-based new-age start-up, launched the Red Aloe Vera range of skincare products. The innovative range of ten products includes six for women, three for men, and one unisex product. The SPF lotion, hair serum, face serum, and under-eye cream is for women, and intimate brightening scrub, face brightening and detain scrub are for men. The face moisturizing cream and lip lightening cream are unisex products.

Regional Outlooks

The global aloe vera market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America).  The market can be analyzed for a particular region or country level as per the requirement. Among these, the North American regional market is expected to cater to significant growth over the forecast period. However, the Asia-Pacific region is projected to experience considerable growth in the aloe vera market.

Global Aloe Vera Market Growth, by Region2022-2028

The North America Region is Expected to Hold a Considerable Share of the Global Aloe Vera Market

Among all regions, the North American region is anticipated to account for a considerable share in market share over the forecast period. The regional growth is primarily driven by factors including a rise in consumers' awareness of personal appearance and shifting preference from chemical-based products to organic-based products. As a result of which, key market players are focusing on developing and launching organic cosmetic products to cater to the rising demand. For instance, in May 2022, L'amore Beauty, a Miami-based company launched a skincare system aimed to resolve common skin concerns by using natural aloe vera and its powerful properties. Unlike water-based cosmetic brands that currently saturate the skincare market, L'amore Beauty uses organic aloe vera as the primary base ingredient which allows for deeper penetration into the skin.

Market Players Outlook

The major companies serving the global Aloe Vera market include Aloe Farms, Inc., Aloecorp, Inc, Emami Group,  Juicy Chemistry, Ashland Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in May 2022,  L'amore Beauty, a Miami-based company launched an easy-to-follow skincare system aimed to resolve common skin concerns with natural aloe vera and its powerful properties. The skincare system contains a gentle exfoliating cleanser, glycolic acid toning solution, ultra-hydrating face serum, super peptide eye serum, and moisturizing face and neck cream.

The Report Covers

• Market value data analysis of2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global aloe vera market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.