Aloe vera gel market is likely to exhibit a promising growth curve as far as the short-term outlook is considered. The report will uncover the insights into how the market growth will unfold in the next few years.
Ability to Fight Skin Conditions and Aid in Wrinkle Prevention to Augur Well for Aloe Vera Gel Market
Cosmeceutical sector has been witnessing a rapid progression of the green beauty trend. This has influenced the adoption of aloe vera gel as it is sourced using sustainable and ethical practices. Furthermore, it is being extensively used in cosmetic products to prevent development of acne and wrinkles. Owing to its anti-inflammatory properties, aloe vera gel can combat against acne causing bacteria, thus reducing the burden of the skin disease. Moreover, acne is considered as one of the most common skin conditions. For instance, according to the American Academy of Dermatology (AAD), around 85% of individuals in United States in the age range of 12-24 years develop acne at least once. This has resulted in an increase in the use of natural and organic cosmetic products. In this backdrop, the ability of aloe vera to prevent skin diseases and wrinkles and facilitate anti-aging is expected to bolster growth of the aloe vera gel market.
Perceived Medicinal Benefits Spur Consumption in Aloe Vera Gel Market
The consumption of aloe vera gel has been on the rise backed by several health benefits offered by the product. According to the National Centre for Biotechnology Information (NCBI), aloe vera’s market value is around US$13 Bn from a global standpoint and is widely used in pharmaceutical, food and cosmetic industries. This is mainly owing to its health benefits such as facilitating wound healing, offering antioxidants, reducing dental plaque, helping in reduction of canker sores, constipation reduction, lowering blood sugar levels and fighting against wrinkles. Moreover, it is known for its antiviral, antiseptic and antibacterial properties. These medicinal advantages have given an impetus to the consumption of aloe vera gel, thus complementing aloe vera gel market growth.
Organic Aloe Vera Gel Demand to Spur Significantly in Aloe Vera Gel Market
The demand for organic products has been on an upswing since the past few years. This is mainly owing to increasing awareness among consumers regarding the health benefits of consuming organic and natural products and the side effects of using synthetic or chemical-based counterparts. Aloe vera gel being no exception to this, the consumption of its organic form is likely to increase in the coming years. That said, sales of organic aloe vera gel products are likely to increase, thus contributing towards a major revenue share in aloe vera gel market on the global front.
Asia Pacific Poised to Lead Aloe Vera Gel Market, Europe Emerges Highly Lucrative
From a geographical standpoint, the Asia Pacific region is likely to account for a major revenue share in the aloe vera gel market. Emerging economies in the region such as China and India are projected to showcase high growth potential with regards to use of aloe vera gel across several end use applications. Considering end use industries, the cosmetics and pharmaceutical sectors are crucial consumers of aloe vera gel. The demand for aloe vera gel in cosmetics and pharmaceutical products has been witnessing an increase owing to its several benefits. It is widely used in mainstream cosmetics and skincare products as it possesses anti-allergic properties and is skin sensitive. It is also used in sun screens and enhances skin hydration. This factor coupled with momentous growth of the cosmetics industry is expected to pave potential avenues for the aloe vera gel market. In addition, demand for anti-aging creams and lotions is another critical aspect driving the demand for aloe vera gel. The increasing population in emerging economies alongside rising geriatric population has fuelled the adoption of lotions facilitating reduction in wrinkles and fine lines. Aloe vera gel allows reduction in wrinkles and old lines along with preventing new signs of wrinkles and aging. That said, the demand for the product is likely to surge in Asia Pacific, thus contributing towards value growth of the aloe vera gel market in the region in the forthcoming years.
On the other hand, the aloe vera gel market in Europe is expected to gain momentum. European consumers have been inclined towards using natural health products and supplements. To seek natural remedies for disease prevention and health maintenance, individuals in Europe are relying on natural plant based supplements. This has triggered the sales of aloe vera gel capsules that offer vital health benefits including wound healing, immunity boosting, skin preservation, blood sugar level maintenance and resistance against bacteria and viruses. The region can be considered as a prospective market for aloe vera gel and other aloe vera extracts owing to various macro economic factors. For instance, growth in aging population in European countries coupled with rising consumer interest in wellness and health products is expected to fuel demand in aloe vera gel market.
According to the United Nations Economic Commission for Europe (UNECE), individuals in the age range of 65 years and above are likely to account for one quarter of the total population in Europe by 2050. This aspect remains influential in driving the need for aloe vera gel supplements to fight against aging and other skin problems. In addition, the need for aloe vera gel supplements is poised to increase on the back of growing concerns regarding malnutrition. For instance, according to Medical Nutrition Industry, about 33 million individuals in Europe suffer from malnutrition and around 170 billion Euros are spent on malnutrition each year in European countries. In this backdrop, the market for food and dietary supplements is likely to increase, consequently paving new opportunities for the aloe vera gel market in Europe.
Aloe Vera Gel Market: Competitive Landscape
New product launches have been witnessed by key players in the aloe vera gel market. For instance, in 2021, Ceremonia Oil Mist con Aloe Vera was introduced which facilitates hydration and shine in hair without heaviness of oil. Likewise, in 2022, Organic Harvest introduced new range of aloe vera gel products that are gender neutral and are an ideal solution for varying hair and skin types for different age groups. Same year in April, CHI Haircare introduced CHI Naturals with hyaluronic acid and aloe vera gel. This product ensures hydration and nourishment and increases the softness and shine for skin and hair.
A few of the major players in the aloe vera gel market include Aloe Farms Inc., Aloe Vera Australia, Pharmachem Laboratories Inc., Foodchem International Cooperation, Terry Laboratories Inc., and Patanjali Ayurved Ltd.
The Global Aloe Vera Gel Market Is Segmented As Below:
By Distribution Channel
By End Use Industry
Key Elements Included In The Study: Global Aloe Vera Gel Market
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