According to IMARC Group’s latest report, titled “Aloe Vera Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global aloe vera market reached a value of US$ 710 Million in 2021. Also known as Aloe barbadensis miller, aloe vera is a succulent plant that belongs to the Asphodelaceae (Liliaceae) family. It has an outer layer of 15-20 cells, which helps protect the plant and synthesize proteins as well as carbohydrates. Its leaves comprise a clear gel with 99% water while the remaining is made up of lipids, sterols, vitamins, amino acids and glucomannans. Aloe vera contains active constituents, such as vitamins, enzymes, minerals, and fatty acids. It has anti-inflammatory and therapeutic properties, as well as accelerates wound contraction and increases the breaking strength of the resulting scar tissue. As a result, it is commonly used in the food, personal care and pharmaceutical industries across the globe.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
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Aloe Vera Market Trends and Drivers:
Aloe vera is utilized in the production of personal care products, such as face wash, toners, face packs, anti-aging creams and body lotions, as it offers anti-aging and moisturizing benefits. It is also used in shampoos, conditioners, and hair packs and serums as it assists in conditioning the hair, promoting hair growth, removing dandruff and maintaining the pH level of the scalp. Apart from this, aloe vera provides health benefits, such as reducing inflammation and cholesterol levels, easing acid reflux and reducing periodontal diseases, regulating blood sugar level, improving digestion, and treating hemorrhoids and acne. Consequently, it is employed in the manufacturing of numerous nutraceutical products worldwide. However, due to the sudden outbreak of the coronavirus disease (COVID-19), lockdowns have been imposed by governments of numerous countries. This has resulted in the temporary shutdown of various manufacturing units, which is negatively influencing the market. Looking forward, IMARC Group expects the aloe vera market to reach US$ 1,120 Million by 2027, exhibiting a CAGR of 7.8% during 2022-2027.
Key Highlights of the Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global aloe vera market, along with forecasts at the global and country level from 2022-2027. Our report has categorized the market based on product, form and application.
Breakup by Product:
- Aloe Vera Gel Extract
- Aloe Vera Whole Leaf Extract
Aloe vera whole leaf extract currently holds the largest share as it is naturally obtained and exhibits the original properties of the plant.
Breakup by Form:
Aloe vera drinks dominate the global market as they contain antioxidants, which help fight free radicals and improve skin health.
Breakup by Application:
- Pharmaceutical Industry
- Cosmetic Industry
- Food Industry
The cosmetic industry presently accounts for the majority of the global aloe vera market share due to the increasing usage of aloe vera extracts in skin care products.
Breakup by Region:
- Dominican Republic
- United States
- Costa Rica
Thailand exhibits a clear dominance in the market due to the increasing utilization of aloe vera in various industries of the country.
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Industry Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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