Aloe is a succulent plant widely used in alternative medicine. Aloe vera is safe and nutritious to use externally on skin and hair. There are approximately 420 different species of aloe. The aloe plant cannot survive freezing temperature, and is grown in warm tropical regions. Aloe can be found in the U.S., Central America, South America, India, Mexico, the Caribbean, the Pacific Rim countries, Africa, and Australia. Aloe vera is popular globally due to its remedial, herbal, and medicinal properties. It has a strong global reputation due to its widespread usage in cosmetics, particularly to treat sunburn and burns, to fight against cell aging, and to aid wound healing.
Aloe vera is also used to improve blood circulation and reinforce the immune system. Aloe vera products containing considerable amounts of essential nutrients such as vitamins, amino acids, hormones, enzymes, and sugars. Owing to the various health advantages provided by aloe vera companies across the cosmetic and pharmaceutical industries are increasingly producing aloe vera based products to grasp the potential opportunity offered by this consumer segment. Many aloe vera-based skin and hair products are available in the market such as gel, cream, shampoo, face & body wash, and others.
Demand for aloe vera-based products is expected to increase at a rapid pace during the forecast period. The growth of the global aloe vera-based skin and hair products market is anticipated to be driven by rising concerns among consumers regarding their skin and health problems, predominantly due to stressful and hectic lifestyles, which is resulting in a shift in consumer preference toward herbal nutraceuticals and natural alternatives. Additionally, due to increasing disposable income in countries such as the U.S., India, and China, consumer spending on nutritious and healthy products is growing.
This, in turn, has catalyzed the growth of aloe vera-based products market over the last few years. Moreover, rising consciousness among consumers on personal grooming has led to the growth of the personal care and cosmetics industry, thus, paving the way for the aloe vera-based skin and hair products market. Asia Pacific is expected to be a major market for aloe vera-based skin and hair products during the forecast period. North America has been a major supplier of aloe vera-based products as well as product raw material, worldwide, with majority of key participants and companies in the aloe vera-based product market based in North America, primarily in the U.S.
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The global aloe vera-based skin and hair products market can be segmented based on product, application, distribution channel, and region. In terms of product, the aloe vera-based skin and hair products market can be classified into aloe vera gel, lotion/creams, face & body wash, shampoos & conditioners, shaving supplies, and others. Based on application, the global aloe vera-based skin and hair products market can be categorized into personal care, cosmetics, and pharmaceuticals.
In terms of distribution channel, the aloe vera-based skin and hair products market can be divided into online and offline. The offline distribution channel segment can be further segregated into large format stores (hypermarkets, supermarkets, departmental stores), specialty stores (pharmaceuticals, beauty stores), and small retail stores. In terms of region, the global aloe vera-based skin and hair products market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
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Key players operating in the global aloe vera-based skin and hair products market include Aloe Farms, Inc., Patanjali Ayurved Limited, Foodchem International Corporation, Improve USA, Inc., Dabur India Ltd., The Himalaya Drug Company, Now Health Group, Inc., Natural Aloe De Costa Rica, S.A, Aroma Treasures, Fruit of the Earth, Inc., Real Aloe Solutions Inc., Forever Living Products International, Inc., and Nature Republic Co., Ltd.