The global market for aloe vera gel is estimated to grow at a CAGR of 7.8% by value and 7.3% by volume during the forecast period 2018-2027
Aloe vera is popular worldwide due to the medicinal, herbal, and remedial properties it possesses. The aloe vera plant is a species of the Liliacea family, and is majorly grown in tropical regions such as the United States, Mexico, China, India, Korea, and others. Aloe vera gel is derived from the inner leaf of the plant, and comprises majorly of water content and minerals, hormones, enzymes, vitamins, amino acids, and sugars in small amount. Aloe vera gel offers a wide range of benefits, owing to its diverse beneficial properties and applications in several industries, such as cosmetics, healthcare, personal care, baby care, food and beverages, and others.
There are immense opportunities for market participants in the aloe vera gel market, owing to the enormous use of aloe vera gel as a dietary supplement as an ingredient in the cosmetic industry for the removal of acne, revitalizing skin, smoothing the skin and hair, for skin treatments, and more. Aloe vera gel is also used for juices and as a food ingredient for providing additional nutritional supplement and instant energy.
Aloe Vera Gel Market Segmentation:
- By Nature of Aloe Vera Gel
- By End Use of Aloe Vera Gel
- By Distribution Channel of Aloe Vera Gel
Growing consumer inclination towards natural and healthy products enriched with high nutrient content is driving the market for aloe vera gel
Consumers are increasingly shifting their preferences towards healthy lifestyles and practices such as gymming, yoga, and healthy food consumption. This has led to an increase in the demand for health-related products such as organic food and natural ingredient-based cosmetics. One such product is aloe vera gel. Companies across the pharmaceutical, cosmetic, and food industries are increasingly launching aloe vera gel-based products to leverage the potential opportunity offered by this consumer segment, owing to the various health benefits offered by aloe vera gel containing significant amounts of essential nutrients such as amino acids, vitamins, enzymes, sugars, and hormones.
Increasing disposable income of consumers surging the demand for aloe vera gel and its various products
Improving lifestyles due to a rise in economic factors and increasing awareness about aloe vera gel, mainly in Asia Pacific, are leading to the growth of the aloe vera gel market in the region. Further, growing consumer spending on healthy and nutritious products, especially in countries such as China and India, is attributed to increasing disposable income. This, in turn, has catalysed the growth of the aloe vera gel market over the last few years.
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.
Rising demand for natural and pure cosmetic products paving the way for the growth of the global aloe vera gel market
Rising consciousness among consumers to look good and enhance their outer appearance has led to the growth of the cosmetics and personal care industry, thus, paving the way for the aloe vera gel market. Further, increasing awareness among consumers about the ill-effects of chemically-composed cosmetic products has fuelled the market for aloe vera gel possessing several medicinal and herbal properties.
Aloe Vera Gel Market Analysis by Nature
By nature, the organic segment in the aloe vera gel market is expected to dominate the global market by the end of the year 2027, is projected to have a market value of US$ 160.8 Mn, and is estimated to register a CAGR by value of 8.9% over the forecast period, owing to the growing demand and trend worldwide for organic products, due to the health benefits offered by them in comparison to the conventional aloe vera gel that might contain pesticides and other harmful chemical contents.
Aloe Vera Gel Market Analysis by End Use
The skincare industry is expected to dominate the aloe vera gel market, followed by the healthcare industry. The skincare segment in the aloe vera gel market is estimated to have had a market share by value of 44.7% in the year 2017 and is projected to grow at a CAGR of 8.5% during the forecast period. The large share of the skincare segment in the aloe vera gel market is subjected to the rising demand for natural and herbal cosmetic products by consumers, and a rise in the consumer interest to look good.
Aloe Vera Gel Market Analysis by Distribution Channel
Distribution through various e-retail channels is projected to remain the fastest growing channel of aloe vera gel during the forecast period, with a market share of 22.7% by value by the end of the year 2027, with a CAGR of 10.4% by value. This is attributed to increasing technology and an increasing number of consumers using the Internet and smartphones for shopping varied products such as cosmetics, toiletries, food and beverages, and fast-moving consumer goods. Supermarkets and hypermarkets and specialty stores are also prominent, growing modern distribution channels in the aloe vera gel market.
Market Analysis of Aloe Vera Gel by Region
On the basis of region, the APAC region is projected to remain dominant in the aloe vera gel market throughout the forecast period, with a forecasted CAGR of 8.8%, with China and India having the highest market share of aloe vera gel in the current as well as upcoming years, due to the rise of the cosmetic and healthcare industry in the region, increasing population, and the growing disposable income of consumers. North America has been a prominent supplier of aloe vera gel raw material as well as end products, globally, with the majority of key participants and companies in the aloe vera gel market based in North America, primarily in the United States.
Following are the major segments in the aloe vera gel market:
Aloe Vera Gel Market by Nature
- Organic Aloe Vera Gel
- Conventional Aloe Vera Gel
Aloe Vera Gel Market by End Use
- Hair Care
- Baby Care
- Food and Beverages
- Other End Uses
Aloe Vera Gel Market by Distribution Channel
- Specialty Stores
- Pharmacy Stores
- Convenience Stores
- Online Retail
Aloe Vera Gel Market by Region
- North America
- Latin America
- Eastern Europe
- Western Europe
- Middle East & Africa