By Askern, England, UK, January 9, 2024 Fueled by rising global demand for natural wellness solutions, Sri Lanka’s aloe vera market has experienced a surge in recent years. This succulent plant, revered for its therapeutic properties, is captivating Western, Far Eastern, and Middle Eastern markets with its potent blend of nutrients and antioxidants.
Aloe vera juice, a star performer, soothes heartburn, aids digestion as a laxative, and boasts anti-inflammatory properties. Beyond internal uses, aloe vera gel finds favour as a natural moisturizer, hair gel, and after-sun soother, tackling sunburns, rashes, and scalp woes. While its potential to enhance sexual performance requires further research, aloe vera’s ability to improve blood circulation through the enzyme bradykinase offers intriguing possibilities.
For individuals with diabetes, early studies suggest promising blood sugar management properties of aloe vera, warranting further investigation. Additionally, aloe vera latex extracted from the inner leaf skin offers natural laxative benefits.
The global aloe vera export market is projected to grow at a steady 5.2% CAGR between 2023 and 2028, presenting a fertile ground for Sri Lanka’s industry. In 2022, the island nation exported USD 15.06 million worth of aloe vera, translating to 2,080 metric tons. Sri Lanka’s tropical climate and diverse soil conditions, particularly in regions with well-drained, sandy soil and ample sunlight, provide ideal aloe vera cultivation grounds.
While Mexico reigns as a major global exporter, Sri Lanka faces competition from established players like China, the USA, and India. Interestingly, the Netherlands acts as a European hub for aloe vera trade, facilitating the distribution and re-export of aloe vera extracts and derivatives. Australia, too, boasts a burgeoning aloe vera industry, exporting gels and juices to diverse markets.
Sri Lanka’s aloe vera market holds immense promise, fueled by the global wellness trend and its favourable growing conditions. By focusing on innovative product development, strategic partnerships, and sustainable farming practices, Sri Lanka can carve a unique niche in the international aloe vera market.
