Market Size of Global Aloe Vera Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.98 Billion |
| Market Size (2029) | USD 2.77 Billion |
| CAGR (2024 - 2029) | 6.92 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Global Aloe Vera Market Analysis
The Global Aloe Vera Market size is estimated at USD 1.98 billion in 2024, and is expected to reach USD 2.77 billion by 2029, growing at a CAGR of 6.92% during the forecast period (2024-2029).
Aloe vera is a widely used ingredient in skincare and cosmetic products due to its hydrating and soothing properties, and is known for its various skincare and health benefits. It is widely used to treat sunburn, reduce acne, and has anti-inflammatory properties. Owing to this, the demand for aloe vera gel in skincare and personal care products is increasing. The demand for natural and organic products is increasing due to rising awareness about the possible side effects and harm that synthetic products are causing. Moreover, aloe vera offers various health benefits, such as aiding digestion, supporting the immune system, and providing anti-inflammatory properties. Due to its versatile applications, the use of aloe liquid is increasing in fruit juices, skincare products, and pharmaceuticals. As healthcare expenditure increases, the demand for aloe vera gel also grows. In 2022, according to the Organisation for Economic Co-operation and Development (OECD), the per capita health expenditure in the United States was USD 12,555.3, USD 8,049.1 in Switzerland, and USD 8,010.9 in Germany.
The beauty and personal care industry has significantly contributed to the growth of the aloe vera market and is expected to continue doing so in the near future. Brands like Himalaya, The Nature’s Co., Avon, and Patanjali are known for offering aloe vera-based products. Government regulatory bodies like the International Aloe Science Council play a crucial role in certifying growers, processors, and marketing companies to boost aloe vera production. Manufacturers are emphasizing the importance of consumers seeking aloe vera-based drinks, food products, and juices. Owing to this, they are providing aloe vera liquids to different food and beverage manufacturers and personal care manufacturers to cater to rising demand. For instance, Aloe Queen Inc. provides a range of liquid aloe vera concentrates that can be used in food and beverages, cosmetics, personal care products, and pharmaceutical applications. Thus, the rising awareness regarding the health benefits offered by aloe vera and novel product innovations drive the global market growth of aloe vera ingredients.
