According to MarkNtel Advisors, the Global Aloe Vera Extract Market is set to register around 8.8% CAGR during 2022-27. The shifting consumer preferences toward naturally-derived products and the increasing awareness among them regarding the various health benefits of aloe vera are expected to drive the market in the forecast years. Besides, the rising number of people adopting healthy lifestyles and consuming naturally-derived products is also aiding in the market expansion of aloe vera extracts.
Moreover, the soaring application of aloe vera in food & drinks, health supplements, and personal care products & cosmetics, coupled with the ever-increasing health consciousness population, are further creating new avenues for the aloe vera extract industry to expand considerably through 2027.
Cosmetics & Personal Care Application of Aloe Vera Extracts Holds the Largest Market Share
With the rising consumer inclination toward natural & organic products on account of the increasing incidence of skin conditions & growing consumer awareness of the adverse effects of chemical-based cosmetics & personal care products worldwide, aloe vera extracts are being utilized increasingly in different skin, hair, & body care products. It owes to the medicinal properties of aloe vera that help treat various illnesses. As a result, the leading cosmetic & personal care product manufacturers are actively working on including natural ingredients, including aloe vera extracts, in their products in order to fulfill the ever-increasing consumer demand, thereby fueling the overall market growth.
With India & China as Major Consumers of Aloe Vera, Asia-Pacific Dominates the Market
The mounting cases of skin-related illnesses and the ever-growing utilization of aloe vera in the pharmaceutical & cosmetics application, coupled with increasing consumer interest in natural cosmetic & personal care products across India, China, & Australia, among others, are the prime aspects driving the Asia-Pacific Aloe Vera Extract Market.
Moreover, the increasing presence of herbal cosmetic manufacturers and rising consumption of aloe-based health drinks & nutritional supplements owing to benefits like enhanced digestive health, reduced inflammation, & immunity boost are other crucial aspects propelling the aloe vera extracts industry in Asia-Pacific.
The key companies in the Global Aloe Vera Extract Market include Aloe King, Aloe Laboratories, Aloe Vera Australia, Aloe Vera Farm Mallorca S.L., Aloevera Fertilizer, Alpspure Lifesciences Pvt. Ltd., Ashland, Botanica Healthcare, Finca Canarias, Forever Lifestyle Products, Nature’s Essence Pvt. Ltd., PIJ Holdings Sdn Bhd, Terry Laboratories, Taishan AGHG Aloe Products Co., Ltd., Verdeaurora, and Yunnan Evergreen Biological Corporation.
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