Aloe Vera Market Booming Segments; Investors Seeking Growth | Aloe Laboratories, Inc.,Aloecorp, Inc.,Ashland Global Holdings Inc.,Herbalife International of America, Inc.,Terry Laboratories

As per the report published by The Brainy Insights, the global aloe vera market is expected to grow from USD 1.8 billion in 2021 to USD 3.4 billion by 2030, at a CAGR of 7.6% during the forecast period 2022-2030. The Asia Pacific emerged as the largest market for the global aloe vera market, with a 38% share of the market revenue in 2021. The growing population in the region propels the growth of the market. The increasing concentration of herbal product manufacturers, such as Himalaya Drug Company, Dabur, and Patanjali, in India, fuels the growth of the market in the region.

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Global Aloe Vera Market Size By Product Type (Gels, Powder, Capsule, Liquid), Distribution Channel (Online, Offline), Application (Food, Pharmaceutical, Cosmetic), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Leading companies in the industry include Aloe Farms, Inc., Lily of the Desert Organic Terry Laboratories, Inc., Pharmachem Laboratories, Inc., Aloe Costa Rica S.A., International Corporation, Aloe Laboratories, Inc., Aloecorp, Inc., Ashland Global Holdings Inc., Herbalife International of America, Inc., and Terry Laboratories, among others which are offering more significant opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.

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The product type segment is divided into gels, powder, capsules, and liquid. The gel segment dominated the market, with a market share of around 36% in 2021. Aloe vera gel is widely used to replace sulfur, ammonia, and paraben-free products, fueling the segment's growth. The distribution channel segment is divided into online and offline. Over the forecast period, the online distribution channel segment is expected to grow at the fastest CAGR of 8.8%. Increasing penetration of the internet post the outbreak of the Covid-19 pandemic drives the segment's growth. Furthermore, online retail shops have various manufacturers' options and are easy to purchase, which drives the segment's growth. The application segment is divided into food, pharmaceutical, and cosmetic. In 2021, the cosmetic segment accounted for the largest share of the market, with 43% and market revenue of 0.77 billion. Aloe vera is widely used in the cosmetic industry to make hair care products and skincare products that propel the market's growth. In addition to this, aloe vera is also widely used as sunscreens adding impetus to the market's growth.

Aloe vera is widely used in several industries such as food, cosmetics, toiletries, and pharmaceutical, which drives the market's growth. In addition to this, it is also widely used to treat burns from fire and sun, adding impetus to the market's growth. Aloe vera has a vital presence due to its widespread utilization as a commercial ingredient in numerous industrial products. With the shifting trend, people are becoming more aware of leading a healthy and hygienic lifestyle driving the market's growth.

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