Aloe Vera Extract Market
Aloe Vera Extract Market Forecasts to 2028 - Global Analysis By Product Type (Aloe Vera Whole Leaf Extracts, Aloe Vera Gel Extracts and Other Product Types), By Product Form (Powder, Gel, Liquid, Capsules/Tablets, Oil, Drinks, Concentrates and Other Product Forms), By Distribution Channel, By Application, By End User and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $2.5 BN |
|
Projected Year Value (2028) |
US $4.7 BN |
|
CAGR (2022 - 2028) |
11.4% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Aloe Vera Extract Market is accounted for $2.5 billion in 2022 and is expected to reach $4.7 billion by 2028 growing at a CAGR of 11.4% during the forecast period. Aloe vera is a succulent plant from the Arabian Peninsula that is part of the lily family. Due to its therapeutic characteristics, it has been used for millennia to treat a variety of ailments and diseases. Aloe vera is also frequently used in the pharmaceutical, cosmetic, and food and beverage industries. In addition, several phytosterols, polyphenols, fatty acids, alkanes, indoles, pyrimidines, alkaloids, aldehydes, organic acids, ketones, alcohols, and dicarboxylic acids have all been identified in aloe vera leaves.
According to the Aloe Science Council (IASC), the liquid ingredient is the most commonly used commercially accessible product. According to the National Center of Biotechnology Information, 2019, aloe vera whole leaf extract revealed a strong indication of carcinogenic activity in animals such as rats.
Market Dynamics:
Driver:
Increasing use of aloe vera extracts in aloe-based drinks
With the growing popularity of a healthy lifestyle across all age groups, customers nowadays are gradually determining natural, organic, and more nutritional beverages. Additionally, changing consumer tendencies toward high-calorie carbonated drinks toward beneficial plant-based drinks provides profitable potential for the industry. Moreover, the fundamental ingredient of the aloe plant is its water content, which ranges from 99% to 99.5%. Therefore, these aloe-based drinks are beneficial for hydration during the summer season. Furthermore, the growing demand for weight management solutions among consumers has been one of the main factors fueling the market over the last few years.
Restraint:
Adverse clinical effects of aloe vera extract to restrain the market growth
The significant human exposure and its possible carcinogenic and toxic actions are increasing safety concerns among consumers in the market. Chemical research demonstrates that the aloe vera plant comprises numerous phenolic and polysaccharide compounds, including anthraquinones. Consumption of aloe preparations is connected to hypokalemia, diarrhea, kidney failure, phototoxicity, hypersensitivity responses, and pseudomelanosis coli. Therefore, such issues are projected to have an unfavorable effect on market growth.
Opportunity:
Rising demand for aloe vera in healthcare sector to propel market growth
The increasing demand for healthcare commodities derived from aloe vera extract is another important element fueling market growth. Aloe vera provides cures for different diabetes, skin, and hair ailments. Especially natural, organic, and herbal extracts are being used currently to treat a large percentage of the population suffering from diabetes. In addition, it minimizes dental plaque, helps heal canker sores, improves constipation, relieves gum inflammation, and lowers blood sugar levels. Augmented pollution, along with a shift in lifestyle, has generated an elevated prevalence of such health conditions, supporting the industry's expansion.
Threat:
High cost and low return on investment
Initial high expenses and low returns on investments from the farming of aloe vera plants on limited land areas are predicted to hinder market expansion. Lack of access to the most recent innovations for the upkeep of the aloe vera extract plants at the commercial stage is also predicted to impede expansion. However, the price volatility of aloe vera-based products and complex manufacturing techniques are projected to limit the growth of the market.
Covid-19 Impact:
The COVID-19 outbreak severely harmed the global consumption of the food and beverage industry. Since the beginning of 2020, the sector has demonstrated a fall in the growth rate in the first quarter. Moreover, supply chain issues were also experienced by a few aloe vera extract manufacturers, contributing to the fluctuation in raw material prices. Besides, aloe vera has already been established in the natural products market. And since the coronavirus outbreak, it has witnessed an increase in demand in places such as Europe and North America.
The liquid segment is expected to be the largest during the forecast period
Due to the growing usage of herbal and plant extracts in cosmetic items such as hair, body, and skin products. The liquid segment had the largest share in 2021 and is expected to dominate the market throughout the projection period. The product is measured as having heightened quality in terms of nutritional content. Furthermore, gel components are experiencing robust demand owing to their wide utilization in distinguishing challenges such as chemical injuries and sunburn.
The cosmetics segment is expected to have the highest CAGR during the forecast period
Owing to the rapid utilization of herbal extracts in a wide range of cosmetics and personal care products, such as hair, body care, and skin products, the market is expanding. The cosmetics segment is estimated to witness lucrative growth during the projection period. Additionally, the predominance of several skin disorders and other connected challenges has encouraged the demand for aloe vera products from cosmetic product producers, which is projected to observe a robust expansion in the coming years.
Region with largest share:
Due to the expanding pharmaceutical and cosmetic industries in the region, the Asia-Pacific region dominated the market with the largest share throughout the extrapolated period. China and India are the largest revenue generators in APAC. Increasing per capita income levels associated with a growing population are predicted to increase the need for skincare and cosmetic products. However, India is the fastest-growing cosmetics market in the world. Moreover, the rising concentration of herbal product producers, such as Patanjali, Dabur, and Himalaya Drug Company, in rural areas is boosting product demand in the region.
Region with highest CAGR:
Asia-Pacific is projected to have profitable growth over the forecasted period, due to an increased awareness of the advantages of aloe vera extracts. Additionally, the market expansion is being fueled by the rapidly expanding functional food sector. For instance, EVOH Bottle released an organic aloe vera juice from Harmony Green America, Inc. Furthermore, factors including rising consumer expenditure on functional foods, cosmetics, and personal care products have contributed to the need to expand the aloe vera extract market in the Asia-Pacific region.
Key players in the market
Some of the key players in Aloe Vera Extract market include Aloe Farms, Inc, Aloe Laboratories, Inc, Aloecorp, Inc., Calmino Group, Foodchem International Corporation , Lily of the Desert Organic, Natural Aloe Costa Rica S.A., Pharmachem Laboratories, Inc, Roche and Terry Laboratories.
Key Developments:
In July 2022, Organic Harvest, organic beauty and personal care brand, launched an all-new range of organic Aloe Vera Gel. The product is available in four different variants.
In September 2021, Desert Harvest, a producer of nutritional supplements with a high concentration of aloe vera, has obtained approval from FDA to utilize their superior medicine, aloe vera capsules for treating Interstitial Cystitis (IC), which is a chronic bladder health condition nearly impacting 12 million people.
Product Types Covered:
• Aloe Vera Whole Leaf Extracts
• Aloe Vera Gel Extracts
• Other Product Types
Forms Covered:
• Powder
• Gel
• Liquid
• Capsules/Tablets
• Oil
• Drinks
• Concentrates
• Other Forms
Distribution Channels Covered:
• Online
• Offline
Applications Covered:
• Personal Care Products
• Beverages
• Food
• Other Applications
End Users Covered:
• Pharmaceuticals
• Cosmetics
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Aloe Vera Extract Market, By Product Type
5.1 Introduction
5.2 Aloe Vera Whole Leaf Extracts
5.3 Aloe Vera Gel Extracts
5.4 Other Product Types
6 Global Aloe Vera Extract Market, By Form
6.1 Introduction
6.2 Powder
6.3 Gel
6.4 Liquid
6.5 Capsules/Tablets
6.6 Oil
6.7 Drinks
6.8 Concentrates
6.9 Other Forms
7 Global Aloe Vera Extract Market, By Distribution Channel
7.1 Introduction
7.2 Online
7.3 Offline
8 Global Aloe Vera Extract Market, By Application
8.1 Introduction
8.2 Personal Care Products
8.3 Beverages
8.4 Food
8.4.1 Functional Food
8.5 Other Applications
9 Global Aloe Vera Extract Market, By End User
9.1 Introduction
9.2 Pharmaceuticals
9.3 Cosmetics
9.4 Other End Users
10 Global Aloe Vera Extract Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Aloe Farms, Inc
12.2 Aloe Laboratories, Inc
12.3 Aloecorp, Inc.
12.4 Calmino Group
12.5 Foodchem International Corporation
12.6 Lily of the Desert Organic
12.7 Natural Aloe Costa Rica S.A.
12.8 Pharmachem Laboratories, Inc
12.9 Roche
12.10 Terry Laboratories
List of Tables
1 Global Aloe Vera Extract Market Outlook, By Region (2020-2028) ($MN)
2 Global Aloe Vera Extract Market Outlook, By Product Type (2020-2028) ($MN)
3 Global Aloe Vera Extract Market Outlook, By Aloe Vera Whole Leaf Extracts (2020-2028) ($MN)
4 Global Aloe Vera Extract Market Outlook, By Aloe Vera Gel Extracts (2020-2028) ($MN)
5 Global Aloe Vera Extract Market Outlook, By Other Product Types (2020-2028) ($MN)
6 Global Aloe Vera Extract Market Outlook, By Form (2020-2028) ($MN)
7 Global Aloe Vera Extract Market Outlook, By Powder (2020-2028) ($MN)
8 Global Aloe Vera Extract Market Outlook, By Gel (2020-2028) ($MN)
9 Global Aloe Vera Extract Market Outlook, By Liquid (2020-2028) ($MN)
10 Global Aloe Vera Extract Market Outlook, By Capsules/Tablets (2020-2028) ($MN)
11 Global Aloe Vera Extract Market Outlook, By Oil (2020-2028) ($MN)
12 Global Aloe Vera Extract Market Outlook, By Drinks (2020-2028) ($MN)
13 Global Aloe Vera Extract Market Outlook, By Concentrates (2020-2028) ($MN)
14 Global Aloe Vera Extract Market Outlook, By Other Forms (2020-2028) ($MN)
15 Global Aloe Vera Extract Market Outlook, By Distribution Channel (2020-2028) ($MN)
16 Global Aloe Vera Extract Market Outlook, By Online (2020-2028) ($MN)
17 Global Aloe Vera Extract Market Outlook, By Offline (2020-2028) ($MN)
18 Global Aloe Vera Extract Market Outlook, By Application (2020-2028) ($MN)
19 Global Aloe Vera Extract Market Outlook, By Personal Care Products (2020-2028) ($MN)
20 Global Aloe Vera Extract Market Outlook, By Beverages (2020-2028) ($MN)
21 Global Aloe Vera Extract Market Outlook, By Food (2020-2028) ($MN)
22 Global Aloe Vera Extract Market Outlook, By Functional Food (2020-2028) ($MN)
23 Global Aloe Vera Extract Market Outlook, By Other Applications (2020-2028) ($MN)
24 Global Aloe Vera Extract Market Outlook, By End User (2020-2028) ($MN)
25 Global Aloe Vera Extract Market Outlook, By Pharmaceuticals (2020-2028) ($MN)
26 Global Aloe Vera Extract Market Outlook, By Cosmetics (2020-2028) ($MN)
27 Global Aloe Vera Extract Market Outlook, By Other End Users (2020-2028) ($MN)
Note: Tables for North America, Europe, Asia Pacific, South America and Middle East & Africa Regions are also represented in the same manner as above. "
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
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