The latest report by IMARC Group, titled “Aloe Vera Gel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global aloe vera gel market reached a value of US$ 465 Million in 2016, exhibiting a CAGR of around 11% during 2009-2016. Aloe vera is a succulent plant which grows in the rosette pattern. The thick green leaves produce gel and latex which find various applications in cosmetic and pharmaceutical industries. The gel is a jelly-like clear substance constituting of mainly water and nutrients. On the other hand, the latex is a yellow coloured substance found just under the green skin of the plant. Aloe vera is known for its numerous health benefits as it helps in reducing inflammation, building immunity, lowering the risk of cancer and regulating blood sugar. It also prevents signs of ageing, reduces acne, lightens blemishes, moisturizes skin, reduces dandruff and promotes hair growth.
Highlights of the global aloe vera gel market:
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Healing and restorative properties of aloe vera gel find diverse applications in several industries ranging from cosmetic to food and beverage. As aloe vera gel is rich in fibres and natural nutrients, it is also used for manufacturing juices, yogurt, zero-sugar drinks, etc. Rising demand for these organic products by the health-conscious customers has contributed to the growth of the market. Additionally, increasing prevalence of lifestyle disorders such as obesity, cardiovascular diseases, ailments caused by smoking and drinking, hypertension and diabetes are fuelling the market of aloe vera gel. Rising consumer awareness about the side effects caused by chemical products in the cosmetic industry has increased the demand for natural-based products. On account of this, aloe vera gel is being used in various skin and hair products such as shampoos, conditioners, moisturizers, facewash, etc. According to the report, the market is further expected to reach a value of US$ 767 Million by 2022.
The market has been segmented on the basis of applications where the cosmetic industry represents the largest consumer of aloe vera gel, accounting for nearly a half of the total consumption. It is followed by pharmaceutical and food industries. Region-wise, Thailand represents the leading producer of aloe vera gel, accounting for a third of the global production. Other major regions include Dominican Republic, United States, China, Guatemala, Mexico and Costa Rica. On the other hand, Asia represents the leading consumer of Aloe Vera gel, accounting the major part of the total share. On analysing the competitive landscape of the market, the key players found are Aloe Vera Australia, Aloecorp, Forever Living Products, Herbalife International, Aloe laboratories, Terry Laboratories, Inc., Lily of the Desert, Foodchem International Corporation and Pharmachem Laboratories Inc.
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The report by IMARC Group has examined the aloe vera gel market on the basis of:
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