Aloe vera is extensively used product because of its healing and curative properties. It is an evergreen stemless plant that belongs to the Liliaceae family. It possesses thick and fleshy leaves of grayish-green or green color which contains gel and latex. The gel extracted out of aloe vera is water-based. It consists of various vitamins (A, C, E), amino acids, enzymes, hormones, minerals (Mg, Zn, Ca), plant sterols, cholesterol, salicylic acid, and sugars (glucose).
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Though primarily it originated as an ornamental plant, now it is worshipped for its endless medicinal properties. Aloe vera includes a wide range of applications in various industries starting from the food industry, cosmetics and toiletries to the pharmaceuticals. The market dealing with aloe vera and its cultivation has seen steady growth over the last decade. Health care and cosmetic industries have functioned as the basic drivers in the growth of the industry. The increment in the industry needs a steady and good amount of aloe vera cultivation to meet the demands.
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MARKET OVERVIEW
The data gathered about the aloe vera cultivation and its uses in the market mostly focus on three segments which are cosmetics, health, and food industries. However, the Central Institute of Medicinal & Aromatic Plants in Lucknow released the AL-1 species that is now used for commercial cultivation.
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IDEAL CONDITIONS FOR ALOE VERA CULTIVATION:
- Temperature: 25-40 degree Celsius
- Rainfall: 50-300 mm
- Soil: sandy (best suited), loamy or black cotton soil.
- pH: 7-8.5
The commercial outcome is obtained in the second or fifth year of planting. The healing, immunity-boosting and antimicrobial properties of aloe vera make use in the manufacture of multiple products. Additionally, the cooling, anti-inflammatory, anti-aging, and the presence of UV and gamma radiations make wide use in the cosmetic industry. The anti-diabetic property is useful for manufacturing pharmaceutical drugs.
The worldwide market of this product reached an approximate value of 602 Million US$ in year of 2019. However, it is expected to demonstrate moderate enlargement for the duration of the next five years.
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MARKET TRENDS
Increasing awareness about natural and chemical-free products that can help reduce the occurrence of several health issues is influencing people to recognize the benefits of aloe vera. This is expected to increase the demand for the enlargement and agriculture of aloe vera and concurrently the increased demand in India over the next few years. People who go through a hectic and stressful schedule are prone to face health and skin problems. Aloe vera is considered to be a trusted natural component that gives out better results than most other chemical alternatives. However, this realization is making more and more consumers lean towards natural products instead of conventional ones.
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MARKET GROWTH
Even though the demand of this product is strong universally, growth rates in up-and-coming markets such as India, China, etc., is are accepted to be very high.
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The average yield of aloe vera plants for one hectare of land is around 15 to 20 tonnes. With better irrigation and management, the yield can be expanded up to 30 to 35 hectares. However, India's aloe vera market products market is expected to reach $242 million in 2022. This is due to rising consumer concern about natural alternatives and herbal nutraceuticals.
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CONCLUSION
This project report by the Niir Project Consultancy Services (NPCS) focuses on the cultivation of aloe vera. It consists of statistics focusing on overall cultivation, growth, and trends, and analysis. The report is verified by experts and the information provided is reliable. Whether you are a supplier, investor, or manufacturer, you will surely benefit from the report.
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