The global aloe butter market size is expected to reach US$ 10.5 Billion in 2032. Increasing awareness regarding the medical importance of aloe vera and expansion of the cosmetics sector are anticipated to push the demand for aloe butter in future. As per FMI, the global aloe butter market stood at US$ 4.1 Billion in 2022 and is set to exhibit growth at a CAGR of 6.9% in the forecast period from 2022 to 2032.
| Report Attribute | Details |
| Aloe Butter Market Estimated Base Year Value (2021) | US$ 3.8 Billion |
| Aloe Butter Market Expected Market Value (2022) | US$ 4.1 Billion |
| Aloe Butter Market Anticipated Forecast Value (2032) | US$ 10.5 Billion |
| Aloe Butter Market Projected Growth Rate (2022-2032) | 6.9% CAGR |
Aloe vera is extensively cultivated across the globe owing to its agricultural and medicinal uses. It is a popular plant in the field of medicine, as well as personal care owing to its beneficial and health aiding properties.
Aloe butter, on the other hand, is considered to be a semi-solid derivative that is usually extracted from aloe vera plants by using the cold-pressed technique and with a fraction of vegetable oil. Sales of aloe butter are likely to grow at a fast pace stoked by its increasing usage in various skincare products, including soaps, lotions, lip balms, body balms, bath bombs, and hair balms.
Moreover, aloe butter is rich in folic acid, choline, as well as vitamin B, E, A, C, and B12. It is capable of making the skin highly antioxidant and rejuvenating. It is often accompanied with wound healing and anti-inflammatory properties, which make it a potential beauty and cosmetic ingredient.
Besides, aloe butter has skin healing and soothing properties and thus, is extensively used in the treatment of skin-related problems, such as chapping, sunburn, rosacea, and psoriasis. Rising purchasing power of consumers are growing awareness regarding health and wellness are projected to bode well for the global market.
Rising demand for organic skincare and cosmetics products across the globe is one of the major factors that is anticipated to augment the aloe butter market growth in the upcoming years. The ongoing expansion of the e-commerce industry is further pushing the demand for body lotions, sunscreens, and face creams worldwide. The trend of personalized skincare products is also gaining traction in the market with the rising shift of customers towards products infused with natural ingredients.
In addition, increasing investments in research and development activities by key players to come up with innovative products is another crucial factor that is likely to propel growth. In August 2021, for instance, Forever Living, a multi-level marketing company based in the U.S., introduced its new Aloe Body Lotion with a novel lightweight formula. The product is gluten-free and is ideal for both vegans and vegetarians. Thus, the launch of similar products by reputed companies is set to aid growth.
Premium cosmetics and personal care products are expensive owing to their inclusion of organic and natural ingredients, including aloe butter. Not many people in emerging economies can afford these products because of the lack of knowledge, as well as lower disposable income. It is one of the vital factors that may hamper the demand for aloe butter in these countries.
In addition, the easy availability of other plant-based cosmetic ingredients, including papaya, avocado, peach, lemon, apple cider vinegar, and neem may obstruct the market.
In terms of region, Asia Pacific is projected to remain at the forefront by generating the largest aloe butter market share in the assessment period. This growth is attributable to the ongoing expansion of the skincare industry in South Korea, Japan, and China. Numerous cosmetics and personal care brands based in South Korea are broadening their presence across the U.K., the U.S., Italy, and Germany to generate more sales.
Korean brands, such as LANEIGE, Tony Moly, Etude House, Innisfree, Heimish, SNP, and The Face Shop have also entered the Indian skincare sector, which would help in driving the Asia Pacific market. The high demand for Ayurvedic and herbal skincare products in India is also set to boost the market.
In May 2022, for instance, The Ayurveda Company (T.A.C.) unveiled a wide range of facial products called the Kumkumadi Range. It includes Aloe Vera Gel, Face Scrub with 24K Gold Dust, Night Gel, 100 percent Pure Face Oil, Day Cream, SPF 50 Gel Sunscreen, and Face Wash with 24K Gold Dust. These innovative product launches are estimated to augment the Asia Pacific market.
The high demand for specific skincare solutions and the presence of well-established companies in the U.S. and Canada are set to accelerate the North America aloe butter market size in future years. The surging prevalence of various skin diseases, such as sunburn, eczema, and acne in these countries is another factor that is likely to foster the need for aloe butter infused skincare products.
Further, the entry of multiple start-up companies across the U.S. is expected to augur well for the regional market. Miami-based L'amore Beauty, for instance, introduced its new skincare range infused with aloe vera. The company aims to help customers in resolving their common skin concerns with the help of aloe vera. The number of similar start-up firms is likely to grow at a rapid pace across North America, which would propel the market.
Some of the leading companies operating in the global aloe butter market include Organic Creations, Inc., Texas Natural Supply, Premier Specialties Inc., Camden-Grey Essential Oils, Inc., Madar Corporation Ltd., The HallStar Company, Madina Industrial Corp., Akoma Skincare, AOS Products Private Limited, Sunaroma, and The Soap Kitchen Ltd. among others.
The global market is highly competitive with the presence of various large- and small-scale companies. The majority of these companies are aiming to invest huge sums in the expansion of their manufacturing facilities to surge production and cater to the high demand from end-use industries.
Meanwhile, a few other key players are aiming to collaborate with cosmetics and personal care product manufacturers to deliver their in-house products and strengthen their positions in the global market.
| Report Attribute | Details |
| Growth Rate | CAGR of 6.9% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015-2020 |
| Forecast Period | 2022-2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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| Customization | Available Upon Request |
The global aloe butter market is set to exceed US$ 10.5 Billion in 2032.
Asia Pacific is set to lead the aloe butter market in the forecast period.
Organic Creations, Inc., Texas Natural Supply, Premier Specialties Inc., Camden-Grey Essential Oils, Inc., and Madar Corporation Ltd. are some of the renowned companies in the aloe butter market.
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