Neem Extract Market Overview:
Neem Extract Market is expected to garner $2.04 billion by 2022, registering a CAGR of 17.4% during the forecast period 2016 to 2022. Neem extracts are derived from neem seed, leaves, and bark, and are used in a variety of products across the agriculture, cosmetics, and pharmaceutical sectors. Neem possesses a number of medicinal properties because of which it is an ideal ingredient in several organic products.
Growing awareness about the side effects related to extensive use of chemical-based personal care products such as soaps, shampoos and cosmetics which includes artificial components, and adoption of bio fertilizers are some of the factors that foster the growth of the neem extract market. The neem extract market is bifurcated on the basis of application and geography. In 2015, Asia-Pacific was the highest revenue-generating region in the global neem extract market.
Based on application, the agriculture segment holds the largest share, almost two-thirds of the overall market. Growing concerns about environmental degradation have led to increased demand for organic pesticides and fertilizers. Thus, to maintain the quality of soil and prevent harmful effects of synthetic pesticides, neem-based agriculture products are increasingly being used. The segment is expected to grow rapidly, with a CAGR of 16.6% during the forecast period 2016-2022. However, the personal care segment is likely to exhibit the fastest growth rate, owing to the growing demand of organic personal care products (cosmetics, oral hygiene and similar others).
The report provides an in-depth analysis of the global neem extract market based on various regions, such as North America, Europe, Asia-Pacific, andLAMEA. The mentioned regions are segmented based on prominent countries where the demand for neem extract is anticipated to boost in the coming years. Countries covered are the U.S., Canada, and Mexico under North America; U.K., Germany, France, and the rest of Europe under Europe; India, China, and Japan under APAC; and the Middle East and Africa under LAMEA. Stringent regulations on the use of chemical-based agriculture products in Europe has resulted in increased demand of neem-related pesticides and fertilizers. The region is anticipated to reach $431.3 million by 2022, with a CAGR of 20.3% during the forecast period. Over the last few years, China has increased the plantation of neem trees, due to the benefits of neem-based products on humans and the environment, thus becoming the fastest growing country in APAC, with a CAGR of 17.7%.
Key Benefits of the Neem Extract Market Report:
- The report provides an in-depth analysis of the forecast along with the current and future market trends.
- This report highlights the key drivers, opportunities, and restraints of the Neem Extract Market along with the impact analyses during the forecast period.
- A comprehensive analysis of the factors that drive and restrain the Neem Extract Market growth is provided.
- The qualitative data in this report aims on market dynamics, Neem Extract Market trends, and developments.
- The Neem Extract Market size is provided in terms of volume and revenue.
The neem extract market comprises companies majorly located in APAC, as the neem tree is found mainly in the Indian subcontinent. E.I.D Parry is an India based company and is one of the major market players who has adopted business strategies such as expansion and partnership to have a strong foothold in the market. In 2013, E.I.D Parry entered the Andhra Pradesh market through its bio product division, Parry Bio. With this expansion, the company aimed to target the farmers to enable them to produce a good yield of crops with the help of safe and sustainable agricultural inputs. The key companies profiled include E.I.D Parry India Ltd., Neeming Australia Pvt. Ltd., Bros India Group, Agro Extracts Limited, Parker India Group, Fortune Biotech Ltd., The Indian Neem Tree Company, Ozone Biotech, PJ Margo Pvt. Ltd., and Gramin India Agri BusiNest.
Neem Extract Market Report Highlights
Key Market Players
Agro Extracts Limited, Bros India Group, Fortune Biotech Ltd, Gramin India Agri BusiNest, The Indian Neem Tree Company, E.I.D Parry India Ltd, PJ Margo Pvt Ltd., Ozone Biotech, Parker India Group, Neeming Australia Pty Ltd
Neem is native to Asia-Pacific countries such as India and Burma. Its use is known since a long time, and is regarded as one of the safest village medicated drugs. The neem extract market is primarily based on import. India is the major exporter of neem extract in the world. Neem has attained worldwide recognition and is now grown in approximately 30 countries. Use of neem extract is growing across the globe. Neem oil has gained popularity in the Europe and the United States. Markets such as China, Europe, and North America would fuel the neem extract demand, owing to stringent regulation on the use of synthetic agriculture products.
The neem extract market is anticipated to witness a robust growth in the near future. Consumers have become health conscious and are opting for natural ways of living. Increasing demand for organic food, vegetables, meat, and poultry products led to increased adoption of neem based pesticides, manure, and fodder. In addition, growing awareness about the benefits of neem and the adverse effects of continuous usage of chemical-based products on skin and health has led to adoption of neem based personal care products by consumers, thus fostering the market growth. This has provided opportunities to market players to increase their product offerings with neem as the major ingredient.
Companies such asNeemteam, which is based inUnited Kingdom offers neem products in the U.K and U.S markets. Through continuous researching, the company aims to offer its customers new and innovative neem based products. An Indian company, Colgate India launched a new product, Active Salt Neem toothpaste, with neem extract as a key ingredient to combat the oral health issues prevalent among the Indian population. With such a product, the company aims to combine neem’s therapeutic properties with its latest technology. With the increasing awareness and ongoing research and development, the market would witness innovative product launches in the coming years.