Aloe Vera Extract Market Size, Share & Trends Report

Aloe Vera Extract Market Size, Share & Trends Analysis Report By Application (Food, Pharmaceutical, Cosmetic), By Distribution Channel (Offline, Online), By Product (Gels, Capsule, Powder, Liquid), And Segment Forecasts, 2019 - 2025

  • Published Date: May, 2019
  • Base Year for Estimate: 2018
  • Report ID: GVR-2-68038-883-1
  • Format: Electronic (PDF)
  • Historical Data: 2015 - 2017
  • Number of Pages: 100

Industry Insight

The global aloe Vera extract market size was valued at USD 1.60 billion in 2018 and is anticipated to expand at a CAGR of 7.6% during the forecast period. Growing awareness regarding the medicinal importance of aloe Vera in the treatment of diabetes, skin diseases, etc. has increased the demand for natural and organic cosmetics, including aloe Vera extracts.

Most of the companies are investing in R&D and are launching innovative products to gain competitive advantage over others and to expand their global presence. Currently, one of the major trends seen in the market is increasing use of aloe Vera extracts in sugar-free drinks, which is expected to increase the application scope for the product. Countries like India, China, and U.S. are the major markets for manufacturers owing to rising consumer awareness about following a healthy lifestyle.

U.S. aloe Vera extract market

Aloe Vera extracts are widely used in the treatment of many health issues, such as skin problems, hair loss, gum diseases, and cancer. Increased pollution coupled with hectic lifestyle has resulted in an increased prevalence of such health issues, which is supporting the market growth. Increasing cases of diabetes are also expected to open new avenues for the industry, as a lot of diabetic patients are increasingly using herbal extracts for the disease treatment.

Furthermore, aloe Vera gel or leaves is used as an instant relieve from different burn problems like burns from a fire, chemical injuries, and sun exposure. Moreover, increasing penetration of aloe Vera items in hospitals is also another factor anticipated for the growth of the global market in the upcoming years. Furthermore, Aloe Vera is used in various cosmetic products like skin tanning cream, lipsticks, stretch marks cream, moisturizer, soap, etc. may be another factor expected to have rapid growth in the market.

Product Insights

Liquid product form was the largest segment in 2018 and accounted for 63.82% share of the overall market. It is expected to remain prominent segment over the forecast period. The gels segment is expected to register a CAGR of 7.6% from 2019 to 2025.Increasing awareness about skin health has led to increased usage of herbal extracts. This may contribute to the segment development. Furthermore, sunburns or burn injuries can be cured by applying aloe Vera gel, which is further expected to augment the demand for gel products. Moreover, growing demand for ammonia, sulfur-, and parabens-free products is likely to fuel the segment growth in the coming years.

Application Insights

Food, pharmaceutical, and cosmetic are the major application segments. Cosmetics segment led the market in 2018 and accounted for 41.9% of the global market share. Increasing use of herbal extracts in cosmetics, such as skin, hair, and body care products, is driving the segment growth. Moreover, consumer preference for herbal and organic products is fueling the demand in this segment. Rising geriatric population base and cases of skin problems are several other factors driving these segment growth.

Pharmaceutical segment is expected to register a CAGR of 7.5% from 2019 to 2025. Increasing use of herbal products for the treatment of various health issues, such as diabetes, is propelling the product demand in the segment. Moreover, rising awareness about healthy lifestyle practices is expected to boost the product demand in pharma sector, as aloe Vera juice is widely used for weight loss and to strengthen immunity and improve digestion.

Distribution Channel Insights

Offline segment accounted for the largest market share of 91.2% in 2018. Online segment is expected exhibit the fastest growth at a CAGR of 9.1% over the forecast period. With the increasing internet penetration in various countries, online sales channels are experiencing a significant growth. Moreover, online retailers including Amazon and Flipkart are adding this packaging category as main focus area.

Regional Insights

Asia Pacific is a prominent region and accounted for 30.6% share of the global market in 2018. It is expected to remain the dominant regional market throughout the forecast period. China and India are the major revenue-generators in APAC. Growing pharmaceutical and cosmetic industries is the key factor driving the market growth in this region. Increasing per capita income levels coupled with growing population is expected to fuel the demand for skincare and cosmetic products. India is the fastest-growing cosmetics market in the world. Moreover, increasing concentration of herbal product manufacturers, such as Patanjali, Dabur, and Himalaya Drug Company, in rural areas is fueling the product demand in the region.

Global aloe Vera extract market

Followed by Asia Pacific, North America was the largest market in 2018. The region is expected to register a CAGR of 8.7% over the forecast period due to the presence of a large number of major product manufacturers, especially in U.S. Increasing product usage for the treatment of cancer, diabetes, etc. is driving the regional market. Europe is also one the promising markets and is expected to witness significant growth over the forecast period. Rising awareness about potential health benefits of aloe Vera products is expected to fuel the demand. Moreover, consumer preference for natural and herbal cosmetics will open new avenues for the market.

Aloe Vera Extract Market Share Insights

Some of the key companies in the global market are Aloe Farms, Inc.; Lily of the Desert Organic Terry Laboratories, Inc.; Aloeceuticals; Pharmachem Laboratories, Inc.; Natural Aloe Costa Rica S.A.; Foodchem International Corporation; Aloe Laboratories, Inc.; and Aloecorp, Inc. These companies have undertaken various business expansion strategies such as new product launch, R&D, and M&A.

Report Scope

Attribute

Details

The base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million and CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa

Country scope

U.S., Germany, U.K., China, India, Japan, and Brazil

Report coverage

Revenue forecast, company share, competitive landscape, and growth factors and trends

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Segments Covered in the Report

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 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global aloe Vera extract market report on the basis of product, application, distribution channel, and region:

  • Product Outlook (Revenue, USD Million, 2015 - 2025)

    • Capsule or Tablet

    • Powder

    • Liquid

    • Gels

  • Application Outlook (Revenue, USD Million, 2015 - 2025)

    • Food

    • Pharmaceuticals

    • Cosmetics

  • Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)

    • Offline

    • Online

  • Region Outlook (Revenue, USD Million, 2015 - 2025)

    • North America

      • U.S.

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • China

      • India

      • Japan

    • Central & South America

      • Brazil

    • Middle East & Africa

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