Aloe Vera Extract Market : Technology Advancements, Industry Insights, Trends And Forecast 2033

Overview and Scope
Aloe vera extract refers to a concentrated form of the gel-like substance obtained from the leaves of the aloe vera plant (Aloe barbadensis Miller). The extract is derived by crushing or grinding the aloe vera leaves and then processing them to separate the gel from the outer leaf material. It is widely used in skincare and cosmetic products due to its soothing, moisturizing, and rejuvenating properties.

Sizing and Forecast
The aloe vera extract market size has grown strongly in recent years. It will grow from $2.62 billion in 2023 to $2.85 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to growth in consumer awareness of health benefits, increasing demand in cosmetics and personal care, rising popularity in nutraceuticals and dietary supplements, expanding applications in the food and beverage industry.

The aloe vera extract market size is expected to see strong growth in the next few years. It will grow to $4.03 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to continued interest in natural skincare and beauty, exploration of aloe vera's medicinal potential, expanding use in functional and health beverages, increased adoption in natural and herbal medicines, global sustainability and eco-friendly product trends. Major trends in the forecast period include focus on organic and sustainable sourcing, innovations in aloe vera-infused products, expansion of aloe vera farms and cultivation, global market penetration, quality control and certification standards.

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The aloe vera extract market covered in this report is segmented –

1) By Product Form: Liquid, Gel, Powder, Other Product Forms
2) By Distribution Channel: Offline, Online
3) By Application: Functional Food, Cosmetics, Pharmaceuticals, Beverages, Other Application Types

Asia-Pacific was the largest region in the aloe vera extract market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the aloe vera extract market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The increasing demand for natural and organic cosmetics is expected to propel the growth of the aloe vera extract market going forward. Organic cosmetics are cosmetic products formulated and manufactured using organic ingredients derived from organic farming practices. These products are made without synthetic chemicals, such as pesticides, herbicides, or genetically modified organisms (GMOs). Aloe vera extract is the key ingredient for natural and organic cosmetics manufacturing. For instance, in March 2022, according to a report issued by the Soil Association, a UK-based sustainable and organic agriculture and food production organization, certified organic and natural beauty and wellbeing products in the UK increased by 15% in 2021, pulling in €164 million ($179.35 million). Further, in 2021, around 50,000 products and ingredients were also certified by the COSMOS (Cosmetic Organic and Natural Standard), an international standard for organic and natural cosmetics, with sales of COSMOS-certified products up 32% in 2021 versus 2020. Therefore, the increasing demand for natural and organic cosmetics is driving the growth of the aloe vera extract market going forward.

Key Industry Players
Major companies operating in the aloe vera extract market report are F. Hoffmann-La Roche AG, Herbalife International Inc., Ashland Inc., Patanjali Ayurved Ltd, NOW foods, NOW foods, LR Health And Beauty Systems GmbH, Lily of the Desert Organic, Aloecorp Inc., Lily of the Desert Organic, Warren Laboratories LLC, Pharmachem Laboratories Inc., Active Organics Inc., Certified Safety Mfg. Inc., Botanic Healthcare LLC, Aloe Laboratories Inc., Camden-Grey Essential Oils Inc., Foodchem International Corporation, Green Leaf Naturals, Aloe Plus Lanzarote S.L,Calmino Group AB, Aloe Queen Inc., Forever Living Products Inc., Terry Laboratories Inc., Tropical Products Inc., Aloe Farms Inc., Natural Aloe Costa Rica SA, Pokonobe Industries Inc., Cady Products LLC.

The aloe vera extract market report table of contents includes:

1. Executive Summary

2. Aloe Vera Extract Market Characteristics

3. Aloe Vera Extract Market Trends And Strategies

4. Aloe Vera Extract Market - Macro Economic Scenario

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32. Global Aloe Vera Extract Market Competitive Benchmarking

33. Global Aloe Vera Extract Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Aloe Vera Extract Market

35. Aloe Vera Extract Market Future Outlook and Potential Analysis

36. Appendix

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