Global revenues for aloe vera extracts are expected to surpass US $3.3 Billion by 2026, according to this report by Future Market Insights. The global aloe vera extracts market is anticipated to expand at 7.4% CAGR through 2026.

By the end of this year, global volume is expected to surpass 60,720.4 tons, representing revenues worth US $1.6 billion.

Aloe vera extracts are used in food and pharmaceuticals – but the cosmetic category represents the largest end user for the products. Cosmetics will account for over 45% of global demand of aloe vera in 2016, with annual volumes totalling 27,458.5 tons – an increase of 6% over 2015.

Aloe vera whole leaf extracts will continue to grow at a higher rate than other product types, representing 41% volume share of the market in 2016.

The market leaders in global aloe vera extracts include Lily of the Desert Organic Aloeceuticals, Aloe Farms Inc., Terry Laboratories Inc., Foodchem International Corporation, Natural Aloe Costa Rica S.A., Pharmachem Laboratories Inc., Aloecorp Inc., and Aloe Laboratories Inc.

The top eight players accounted for approximately 6-7% revenue share of the global market in 2015. Leading companies are looking to expand their production capacity and launch new product offerings in a bid to increase market share, expand customer base and achieve a competitive edge.