Aloe Vera Extract Market Size, Share & Trends Analysis Report By Product, By Application (Food & Beverages, Pharmaceuticals, Cosmetics), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2024 - 2030

Aloe Vera Extract Market Size & Trends

The global aloe vera extract market size was valued at USD 2.06 billion in 2023 and is projected to grow at a CAGR of 9.2% from 2024 to 2030. The increasing consumer awareness regarding the health benefits of aloe vera extract is propelling market growth. Aloe vera extract is known for its medicinal properties, including aiding digestion, improving skin health, and boosting the immune system. As consumers become more health-conscious, the demand for natural and organic products like aloe vera extract continues to rise, driving the market's growth.

The expanding use of aloe vera extract in the cosmetics and personal care industry drives the market's growth. Due to its moisturizing, soothing, and anti-inflammatory properties, aloe vera extract is widely used in skincare, hair care, and personal hygiene products. With the beauty and personal care industry experiencing rapid growth, the demand for aloe vera extract as an ingredient in various products is increasing, contributing to the expansion of the market.

Due to its therapeutic properties, aloe vera extract is utilized in the production of pharmaceuticals, supplements, and herbal remedies. As the incidence of lifestyle-related health issues rises, a growing preference for natural and herbal remedies drives the demand for aloe vera extract in the pharmaceutical and healthcare industries.

Furthermore, the extract is used in producing beverages, yogurts, desserts, and health drinks due to its perceived health benefits, such as aiding digestion and providing essential vitamins and minerals. With the rising consumer interest in functional and healthy food and beverage products, the demand for aloe vera extract as a natural ingredient is rising.

Product Insights

The liquid segment dominated the market and accounted for a market revenue share of 63.9% in 2023. Liquid extracts can be easily incorporated into juices, beverages, cosmetics, and pharmaceuticals. This adaptability has expanded the potential applications of liquid aloe vera extract, appealing to a broader range of industries and consumers. Additionally, aloe vera juice, known for its hydrating properties and health benefits, is becoming popular among health-conscious consumers. It is often consumed for its potential to aid digestion, support the immune system, and improve skin health.

The gel segment is expected to register the fastest CAGR of 9.9% during the forecast period. Aloe vera gel is eminent for its soothing, moisturizing, and healing properties, making it a favored ingredient in skincare routines. Consumers are becoming more aware of the harmful effects of synthetic chemicals and are actively seeking effective and natural products. Aloe vera gel, with its high water content and minimal processing, aligns well with this trend towards clean beauty and organic skincare.

Application Insights

Cosmetics segment accounted for the largest market revenue share in 2023. Aloe vera extract is known for its exceptional moisturizing properties, making it a sought-after ingredient in skincare and cosmetic products. Consumers increasingly prioritize natural and organic ingredients in their beauty routines, so the demand for aloe vera extract in cosmetics has surged. Its ability to hydrate and soothe the skin has made it a popular choice in moisturizers, lotions, and facial masks, driving the growth of the aloe vera extract market in the cosmetics industry.

The pharmaceuticals segment is anticipated to grow significantly during the forecast period. The rising prevalence of digestive disorders such as acid reflux, irritable bowel syndrome (IBS), and constipation is fueling the demand for aloe vera extracts in pharmaceuticals. Aloe vera extracts are recognized for their soothing effects on the gastrointestinal tract and their ability to promote digestive health.

Distribution Channel Insights

The offline distribution channel segment accounted for the largest market revenue share in 2023. Physical retail environments offer unique opportunities for brands to engage with consumers through live demonstrations, product samples, and special promotions. Aloe vera extract products benefit from such in-store activities, as they allow consumers to experience the products' benefits firsthand.

The online distribution channel segment is expected to register the fastest CAGR during the forecast period. The convenience of shopping from home, the ability to compare products, and the ability to read reviews lead more consumers to turn to online platforms for their purchasing needs. The rise of e-commerce giants such as Amazon, health-focused online retailers, and dedicated aloe vera product websites offers a wide range of aloe vera extract products, from gels and juices to supplements and skincare items.

Regional Insights

North America aloe vera extract market held a substantial market revenue share in 2023. North American consumers are becoming more health-conscious and are actively seeking natural and organic products to support their well-being. Aloe vera is well-regarded for its benefits, including skin hydration, digestive support, and immune system enhancement. As educational campaigns, health blogs, and social media influencers promote the advantages of aloe vera, there is a growing demand for aloe vera-based products such as juices, gels, and supplements.

U.S. Aloe Vera Extract Market Trends

The U.S. aloe vera extract market is anticipated to grow significantly over the forecast period. The growing trend towards clean label and natural products is fueling the demand for aloe vera extract in the U.S. Consumers are increasingly looking for products that are free from artificial ingredients and chemicals, leading them to choose aloe vera-based products for their skincare and personal care, and dietary supplement needs.

Europe Aloe Vera Extract Market Trends

Europe aloe vera extract market was identified as a lucrative region in 2023. Europe's food and beverage industry is embracing natural ingredients like aloe vera extract to meet consumer preferences for healthier options. Due to its nutritional benefits and functional properties, aloe vera extract is incorporated into various food and beverage products such as juices, yogurts, and dietary supplements.

The UK aloe vera extract markets expected to grow rapidly in the coming years. The growth of e-commerce and online retail platforms has significantly boosted the aloe vera extract market in the UK. The shift from traditional brick-and-mortar stores to online shopping has made it easier for consumers to access various aloe vera products. Online retailers offer a broad range of products, from aloe vera gels and juices to dietary supplements and skincare items, catering to diverse consumer needs. The convenience of online shopping, combined with digital marketing efforts such as targeted ads, promotions, and influencer partnerships, has increased the visibility of aloe vera products.

Asia Pacific Aloe Vera Extract Market Trends

Asia Pacific aloe vera market accounted for the largest market revenue share of 31.5% in 2023. Aloe vera has been used in traditional medicine systems such as Ayurveda in India and Traditional Chinese Medicine (TCM) for centuries. The increasing interest in these traditional practices leads consumers to explore and invest in natural remedies like aloe vera. Modern consumers are revisiting these ancient practices and integrating them with contemporary health solutions, thus expanding the market for aloe vera extracts in both medicinal and dietary forms.

India aloe vera extract market is anticipated to witness significant growth over the forecast period. Consumers are becoming more conscious in the country about the ingredients used in their products and are shifting towards natural alternatives. Aloe vera extract has numerous health benefits, including skin hydration, wound healing, and digestive health.

Key Aloe Vera Extract Company Insights

Some of the key companies in the aloe vera extract market include Agromayal Botanica S.A. de C.V., Aloe Jaumave S.A de C.V, Aloe Queen Inc, Aloecorp, Natural Aloe de Costa Rica, and others. Organizations are focusing on increasing customer base to gain a competitive edge in the industry. Therefore, key players are taking several strategic initiatives, such as mergers and acquisitions, and partnerships with other major companies. 

• Aloe Jaumave S.A de C.V provides a diverse selection of aloe vera extract products tailored for different sectors. They offer ingredients such as concentrates and powders and final products such as juices (with or without pulp), beverages, and even cosmetic components, all made from their organically cultivated aloe vera.

• Aloe Laboratories provides bulk aloe vera in different forms for businesses rather than selling final consumer products directly. They provide various options of aloe vera extracts, such as colorless or colored juice concentrates, topical gel across multiple bucket sizes, and freeze-dried aloe vera powder in organic forms. This enables them to serve companies in the food, beverage, cosmetic, and pharmaceutical sectors seeking to integrate aloe vera into their products.

Recent Developments

• In February 2022, Aloecorp, Inc. announced that its range of products, including Aloe vera purified inner leaf and purified leaf items, has received the Generally Recognized as Safe (GRAS) status from the Burdock Group. This recognition was granted based on strict regulatory safety standards, available safety data, and the application of established toxicological principles by the Burdock Group, a reputable authority in regulatory compliance.

Aloe Vera Extract Market Report Scope

Global Aloe Vera Extract Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global aloe vera extract market report based on product, application, distribution channel, and region:

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Capsules or Tablets

  • Powder

  • Liquid

  • Gels

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Food & Beverages

  • Pharmaceuticals

  • Cosmetics

• Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

  • Offline

  • Online

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

  • Latin America

    • Brazil

    • Argentina

  • Middle East and Africa (MEA)

    • South Africa

    • South Arabia