Aloe Butter Market Size, Share, Industry, Forecast and outlook (2024-2031)

Aloe Butter Market Overview

The global aloe butter market was valued at USD YY million in 2022. It is forecasted to reach USD YY million by 2030, growing at a CAGR of 6.2% during the forecast period (2023-2030).

Aloe butter is a semi-solid derivative extracted from aloe vera using a fraction of vegetable oil, usually by cold-press technique. Aloe butter is widely used in skincare products, including creams, lotions, body balms, hair balms, lip balms, bath bombs, and soaps. Aloe butter is rich in vitamins B, B12, C, A, E, Choline, and Folic Acid, which makes its skin rejuvenating and highly antioxidant. Besides, aloe butter is accompanied by anti-inflammatory and wound-healing properties, which make it a potential cosmetic and beauty product ingredient. Furthermore, aloe butter has skin-soothing and healing properties, which makes it helpful in treating skin-related conditions and problems, including dry skin, sunburn, psoriasis, eczema, rosacea, and chapping. The market for aloe butter is anticipated to witness a lucrative demand over the forecast period owing to the rapid evolution of skincare cosmetics coupled with the increasing health and wellness consciousness of the population. Furthermore, the rising purchasing power of consumers and growing online penetration are shifting consumers toward premium health-nourishing self-care and beauty products.

Moreover, the increasing self-care trend, rising purchasing power, and awareness regarding natural cosmetics and skin care products are driving the growth of aloe butter. Nowadays, consumers are shifting towards opting for natural products and ingredients owing to their health and skin revitalizing qualities and zero effects. The growing demand for natural cosmetic formulations is creating strong market demand for aloe butter amongst consumers.

Aloe Butter Market Scope and Summary

To Get a Free Sample Click here

Aloe Butter Market Dynamics

Natural cosmetic and skincare products are witnessing a remarkable increase

Globally, as of 2021, per capita spending on beauty and personal care products has been valued at around US$ YY. This sum will likely double by 2029, signifying promising growth in the global personal care and cosmetics demand. Natural cosmetic and skincare products are witnessing a remarkable increase in both developing and developed economies, providing an excellent market opportunity for aloe butter market. Europe and North America are anticipated to witness a strong market demand for aloe butter owing to many cosmetic manufacturers and formulators and a well-established supply chain for cosmetics and personal care products. Besides, increasing consumers' preferences toward premium cosmetic and personal care products is boosting the sales of aloe butter in their countries. Furthermore, the Asian countries are expected to register the maximum growth opportunity for aloe butter owing to the consumers' rising per capita disposable income, growing online retail penetration, and increasing self-care trends. For instance, on July 13, 2022, Emami Ltd. launched organic aloe vera gel under the Boroplus brand. According to the Director of the Emami, Aloe Vera is a relatively new category, but one growing fast at a rate of 15-20 percent Y-o-Y. The market is still at a very nascent stage, and wider product awareness and knowledge about Aloe’s versatile usages is highly necessary for a consumer looking for that magic natural solution that can help skin and hair.

However, despite these promising prospects, the industry will face several hurdles in the next few years, including a shift in consumer tastes, rigorous trade barriers, a need for more security in raw material supply, and other industrial inputs.

Aloe Butter Market Segmentation:  

The gel segment accounted for the highest share of the global aloe butter market

The gel segment primarily holds the largest market share due to increasing consumer health consciousness worldwide. The high prevalence of skin-related diseases, obesity, cardiovascular disorders, and diabetes is augmenting product demand. Aloe butter gel has also been beneficial in reducing inflammation, lowering the symptoms of acid reflux, decreasing cancer risks, and treating hemorrhoids. The rising shift of consumers from chemical-based products towards herbal or organic ingredients is further driving the market growth. The increasing use of aloe butter gel in several personal grooming products, such as facial creams, moisturizers, anti-aging products, face wash, sunscreens, and others, catalyzes the demand. Additionally, the rising popularity of aloe butter gel in the healthcare sector for treating mild wounds and reducing skin inflammations is further driving market growth. For instance, on July 13, 2022, Organic Harvest launched an all-new organic aloe vera gel range. Available in four different variants, the new Organic Aloe Vera Gel is gender-neutral and ideal for varying skin and hair types for all age groups. It is enriched with pure natural ingredients like aloe vera leaf extracts. The gel is made without any trace of artificial chemicals, parabens, or aromas.

Aloe Butter Market Geographical Penetration:

Asia Pacific is the dominating region during the forecast period.

Asia Pacific accounted for the highest market revenue share in the global aloe butter market by region. In 2021, Asia Pacific recorded around YY% of the global aloe butter market's revenue. It is significantly attributed to the higher population, which is contributed mainly by India and China. According to the United Nations data, Asia Pacific is home to over half of the world's population. A large consumer base and high consumption of cosmetics, personal care, and other processing are credited for the higher market share of Asia Pacific. Moreover, the region is expected to witness promising growth over the forecast period, owing to the expansion of the cosmetics processing and manufacturing industries and population growth. For instance, on May 31, 2022, Juicy Chemistry launched its all-new Certified Organic Aloe Vera Gel and Aloe Vera Juice. The brand launched India's first range of certified organic skin, hair, and body care and has recently unveiled its brand new multi-purpose Aloe Vera Gel and Aloe Vera Juice.

The North American region is expected to witness the most increased growth rate in the global aloe butter market owing to the high consumption of food and beverages, including dairy products, which are majorly consumed by several countries, such as Canada and the United States. The demand for aloe vera extracts has been growing due to their nutritional value, especially vitamins A, B-complex, C, and E, which help improve skin conditions worldwide.

Aloe Butter Market Competitive Landscape:

The global market consists of various established players such as Natural Sourcing, LLC., Sunaroma, Chagrin Valley Soap & Salve Co., New Directions Aromatics Inc., The HallStar Company, Texas Natural Supply, Camden-Grey Essential Oils, Inc., Madina Industrial Corp., AOS Products Private Limited, Premier Specialties, Inc., Akoma Skincare, Organic Creations, Inc., and Madar Corporation Ltd., among others. Various manufacturers and suppliers focus on developing and strengthening the distribution channel to enhance their businesses. Such initiatives are expected to boost the adoption rate of the product among consumers around the globe. Key players also focus on brand improvement, product innovation, and launches to increase revenue and market share. For instance, on August 30, 2022, Faces Canada launched a new pink aloe vera skincare range. To elevate its benchmark, Faces Canada has unveiled three hero products—Face Wash, Toner, and Day Gel, to accompany its meticulously curated skincare line. Faces Canada’s Pink Aloe Vera skincare range offers multi-faceted properties to soothe, cool, and hydrate skin with deep-acting nutrients.

On April 13, 2020, Wow Skin Science launched aloe vera-infused products for the summer. The range comprises five different products: Aloe Vera Foaming Face Wash With Built-In Brush, Skin Science Aloe Vera Peel Off Gel Mask, Aloe Vera Sleeping Pack, Aloe Vera Daily Body Lotion, and Aloe Vera Gel. The face wash hydrates the skin, and the built-in brush removes dead cells and impurities, while the gel mask cleanses pores and detoxifies the skin. The moisturizer, packed with aloe vera, shea and cocoa butter, argan and almond oils, Pro-Vitamin B5 and Vitamin E, is nourishing, ultra-light and long-lasting. And finally, the gel is for both skin and hair and fights everything from acne to frizzy hair.

COVID-19 Impact on Aloe Butter Market

Positive impact on the global aloe butter market

The COVID-19 pandemic resulted in a decline in the growth rate of the aloe butter market. Due to pandemics, as a precaution, various governments across the globe imposed lockdowns and restrictions. It affected the global supply chain, trade, and production of butter. Due to the lockdown, the supply of raw materials to the manufacturing plants also plummeted, decreasing production during the short period. Moreover, the product's sales through supermarkets, grocery stores, etc., declined due to the need for more customers.

However, the market growth is recovered in the pandemic, owing to relaxed restrictions and growth in online delivery. According to the German Cosmetic, Toiletry, Perfumery, and Detergent Association (IKW), COVID-19 created an opportunity for natural ingredient suppliers in developing countries. The crisis has increased consumer interest in natural & health products. Many retailers are reporting a sudden increase in sales. The demand for aloe vera is high. It is due to its antibacterial and antiviral properties. Besides its use in personal care products, consumers bought aloe vera gel to make hand sanitizer at home. Ancient Egyptians called aloe vera the 'plant of immortality." Cleopatra used it in her beauty regime over 20 centuries ago. These ingredients are used in hand sanitizers, soaps, and cleaning products. Sales of hand sanitizer have been soaring since the virus outbreak. In the UK, sales increased by 255% in February 2020. Supply shortages led many cosmetic companies to increase production.  

The global aloe butter market report would provide access to approximately 77 market data tables, 74 figures and 170 pages