Aloe Vera Extract Market Share Anticipated to Hit USD 3.92 Billion by 2030

The Aloe Vera Extract Market Share was valued at USD 2.31 billion in 2023, and it is anticipated to reach USD 3.92 billion by 2030, growing at a CAGR of 7.8% during the outlook period. Rising consumer awareness regarding the health benefits of aloe vera along with use in cosmetics and personal care and pharmaceutical products is other factor driving the market.

Drivers and opportunities for market growth

The increasing prevalence of skin disorders, diabetes, and other ailments has been injecting demand for aloe vera extract as well, along with the rising demand for natural and organic raw materials. Pharmaceutical industry as aloe vera works actively for medicine, treatment of burns, healthy digestion, immune system support also to speed up its adaption in the dairy industry for weight loss and diabetes. Another factor driving the market growth is the growing demand for herbal products in cosmetics, which opens new scopes for the market.

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Segmentation Analysis

Based on type, application, and region, the market is segmented into:

Based on Type: Aloe vera extract is found in different formats including, Capsules or tablets, Powder, Liquid and Gels. Based on form, the market is segmented into liquid, powder, and others; the liquid segment has a higher market share (67.16% in 2023) owing to the high demand for aloe vera solutions in skin health and burn treatment.

On the basis of Application, the market is segmented into Food, Pharmaceuticals and Cosmetics among others. Driven by the rising application of aloe vera in skin and hair care products, the cosmetics segment continues to lead with 43.7% of market share. Pharmaceuticals — especially for promoting its use in diabetes, weight reduction and digestion wellness — is also expected to spur growth in this segment.

Country-Level Analysis

Asia-Pacific: The region covers the maximum market share (32.71% in 2023), followed by countries like China and India producing aloe vera products. Rising application in the pharmaceutical and cosmetics industries in these nations is accelerating the demand.

North America: U.S. aloe vera extract is a major market and the demand for dry aloe vera extract in the U.S. is significantly growing along with the use of dry aloe vera extract in treating chronic diseases such as cancer and diabetes. The region is projected to grow at a CAGR of 8.13% over the forecast period.

Europe is expected to grow with a healthy CAGR of 7.6% owing to the increasing demand for herbal and natural cosmetics.

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Competitor Analysis

The global aloe vera extract market is competitive across many levels and there are important players that are innovating in the market and capturing a significant share of it. Among the most prominent players are:

Patanjali Ayurved: Patanjali is synonymous with broad spectrum of aloe vera based products at its disposal, contributes abundantly to the aloe vera legacy of India and other parts of the world.

Himalaya Drug Company: By extracting aloe vera in the form of flower based infusions, Himalaya is one step ahead of everyone and is using it in numerous wellness and skin care products.

Dabur India Ltd.: Dabur is one of the key and prominent players in the market for aloe vera products and it delivers a wide range of products but its key are in skincare and health supplement products which driven aloe vera market.

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Conclusion

The growth of the aloe vera extract market is mainly driven by the increasing consumer demand for natural organic products, as well as the wide range of benefits associated with aloe vera. The market is expected to remain on a positive trajectory during the forecast period, due to continual innovations and growing scope of applications across industries.

Explore More: Visit our website for Additional reports:

Aloe Vera Products Market https://www.maximizemarketresearch.com/market-report/global-aloe-vera-products-market/54182/ 

Pharmaceutical Aloe Extract Market https://www.maximizemarketresearch.com/market-report/pharmaceutical-aloe-extract-market/122999/ 

Natural Hair Care Product Market https://www.maximizemarketresearch.com/market-report/natural-hair-care-product-market/70713/ 

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