Market Overview

The Global Aloe Vera market was valued at USD 827.75 million in 2023 and is expected to reach USD 1,373.28 million by the year 2030, at a CAGR of 7.50 % over the forecast period 2023 to 2030

Aloe is a cactus-like plant that grows in hot, dry climates. It is cultivated in subtropical regions around the world. An evergreen perennial, it originates from the Arabian Peninsula. It is cultivated for commercial products, mainly as a topical treatment used over centuries. The botanical name of Aloe vera is Aloe barbadensis miller. It belongs to the Asphodelaceae (Liliaceae) family and is a shrubby or arborescent, perennial, xerophytic, succulent, pea-green color plant. It grows mainly wild in tropical, semi-tropical, and arid climates around the world in the dry regions of Africa, Asia, Europe, and America. In India, it is found in Rajasthan, Andhra Pradesh, Gujarat, Maharashtra, and Tamil Nadu. The species is attractive for decorative purposes and succeeds indoors as a potted plant.It is used in many consumer products, including beverages, skin lotions, cosmetics, ointments, or in the form of gel for minor burns and sunburns. There is little clinical evidence for the effectiveness or safety of Aloe vera extract as a cosmetic or topical drug and oral ingestion have a risk of toxicity.

Major Industry Participants in the Aloe Vera Market

• • Forever Living Com L.L.C. (U.S.)
  • Herbalife International Inc. (U.S.)
  • Aloecorp Inc (U.S.)
  • Aloe Laboratories Inc. (U.S.)
  • Aloe Vera Of Australia Pty Ltd (Australia)
  • Ashland Inc. (U.S.)
  • Terry Laboratories L.L.C. (U.S.)
  • Fruit of The Earth (U.S.)
  • Edgewell Personal Care (U.S.)
  • Lily of The Desert (U.S.)
  • Aloe Plus Lanzarote S.L (Spain)

Market Dynamics and Contributing Factors

Aloe vera is a succulent plant that has been used as medicine for centuries, most commonly to treat sunburn, rashes, burns, wounds, and other skin conditions. It may also help ease digestion problems like heartburn and constipation, reduce blood sugar in people with diabetes, fight cavities, and condition and strengthen hair.

The aloe vera plant has long, thick triangular leaves and is relatively easy to grow. The thick outer layer is the rind, the middle layer is a bitter yellow sap, and at the center is a gel that can be applied directly to the skin.

In traditional and folk medicines, aloe vera has been used internally and externally to treat a wide range of unrelated medical conditions. There are aloe vera supplements, juices, and skin and hair care products that are thought to have therapeutic effects. Europe has a prospective market for Aloe vera products because consumer demand for natural health products is growing. Aloe vera is used in supplements to promote digestive and overall immune well-being, which is in high demand.

The aging population in Europe, as well as rising consumer interest in health and wellness products, is stimulating demand. The European market for food supplements is expected to grow in the future. According to the Medical Nutrition Industry, 33 million people in Europe are affected by malnutrition. It is estimated that around EUR 170 billion a year is spent on malnutrition in European countries.

Key Insights in the Aloe Vera Market Report

• • By Type, the Aloe Africana segment is expected to have the maximum market share in The Aloe Africana segment is dominating the Aloe Vera market due to its unique blend of medicinal properties and higher concentration of bioactive compounds compared to other Aloe varieties. Renowned for its robust therapeutic benefits, including anti-inflammatory, antioxidant, and immune-boosting properties, Aloe Africana is increasingly sought after by consumers seeking natural remedies for various health ailments.
  • By application, the Cosmetic segment is anticipated to dominate the Aloe Vera market The Cosmetic segment is the dominant market in Aloe Vera applications due to the widespread recognition of Aloe's skin-nourishing and rejuvenating properties. Aloe Vera is renowned for its ability to soothe, hydrate, and heal the skin, making it a popular ingredient in a wide range of skincare products such as lotions, creams, gels, and masks.
  • By region, Asia Pacific is expected to dominate the Aloe Vera market, Asia Pacific has emerged as the world’s largest Aloe Vera Market. Growth in the region’s pharmaceutical and cosmetic industries drives the market growth. The region’s expanding population, paired with rising per capita income, is predicted to lend fuel to market expansion. Countries such as India and China are constantly engaged in research and development operations to uncover additional aloe vera uses, which is driving the market growth.

Significant Industry Development

In March 2023, Herbalife looks to ride on IPL to reach out to smaller towns. Nutrition Multinational Herbalife hopes its partnership with the Indian Premier League (IPL) will help with its ambitious expansion in tier 2 and tier 3 cities in India. The Board of Control for Cricket in India (BCCI) had on Wednesday announced its partnership with Herbalife for the Tata IPL 2023, to be played in the country from March 31 to May 28.

In January 2023, Forever living products international announces a new president. Forever Living Products International, a direct sales health and beauty company with a presence in over 160 countries, recently named Aidan O'Hare its new President. O'Hare takes on the role after working in management at Forever Living for 26 years, overseeing global sales strategies as the Executive Vice President of Sales.

Aloe Vera Market Segmentation

By Type            

• • Aloe Africana
  • Aloe Socotrina
  • Aloe Perryi Baker
  • Aloe Ferox

 By Application

• • Food and Drinks
  • Pharmaceutical
  • Cosmetic

By Form

• • Gels
  • Powders
  • Capsules
  • Drinks
  • Concentrates

By Product

• • Aloe Vera Gel Extract
  • Aloe Vera Whole Leaf Extract
  • Others

By Distribution

• • Online
  • Offline

For this report, Pristine Intelligence Market Research has segmented the Aloe Vera Market based on region.

Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)

North America

• • The U.S.
  • Canada
  • Mexico

Eastern Europe

• • Bulgaria
  • The Czech Republic
  • Hungary
  • Poland
  • Romania
  • Rest of Eastern Europe

Western Europe

• • Germany
  • UK
  • France
  • Netherlands
  • Italy
  • Russia
  • Spain
  • Rest of Western Europe

Asia Pacific

• • China
  • India
  • Japan
  • South Korea
  • Malaysia
  • Thailand
  • Vietnam
  • The Philippines
  • Australia
  • New-Zealand
  • Rest of APAC

Middle East & Africa

• • Turkey
  • Bahrain
  • Kuwait
  • Saudi Arabia
  • Qatar
  • UAE
  • Israel
  • South Africa

South America

• • Brazil
  • Argentina
  • Rest of SA