According to a new report published by Reports Monitor titled, “ Global Neem extract Market, Growth Opportunities, Innovations and Forecast, 2018-2025,” the global neem extract market was valued at XX million in 2018, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2018 to 2025.
Neem extract consists of concentrated form of active or principle compounds found in neem. These are used in various industries such as pharmaceutical industry, agricultural industry as well as herbal industry to manufacture quality natural products. Moreover, they are extensively used in the manufacturing of a wide range of cosmetic medicines and pest control products.
Growing awareness related to the medicinal benefits of neem fosters the demand for neem extracts across the personal care as well as pharmaceutical industries. Furthermore, increasing awareness related to the side effects referring to widely use of chemical-based personal care products covering shampoos, soaps as well as cosmetics including adoption of bio fertilizers and artificial components are some of the other factors that boosts the growth of the neem extract market. Infertility, allergic reactions, hypertension and Reye’s syndrome are some of the unwanted side-effects occurred due to the neem extracts. The excess of neem extract has also been linked to kidney and liver damage. Whereas, the restraints for the growth of market includes less concentration of neem plantations in non-Asian countries. Moreover it also includes negative opinion of certain people about the safety profile of neem-based health products.
In the Asian countries, the increasing consumption of bio-based pesticides and fertilizers is generating growth opportunities for the neem extract market. Although the segment of bio-insecticides and fertilizers is presently the largest contributor to the revenue of the global neem extracts market, the personal care and pharmaceutical industries are expected to have an increased share in market’s revenue in the next few years.
The neem extract market is segmented on the basis of application and geography. On the basis of application, market is segmented into animal Feed, agriculture, personal care Products, pharmaceutical. Among these, agriculture segment holds the largest share, almost two-thirds of the total market. On the basis of geography, neem extract market is segmented into North America, Europe, APAC, LAMEA. Growing concerns about environmental degradation have led to increased demand for organic pesticides and fertilizers. Hence for maintaining the quality of soil and prevent harmful effects of synthetic pesticides, neem-based agriculture products are extensively being used. Whereas, the personal care segment is likely to reveal the fastest growth rate, due to the growing demand of organic personal care products such as oral hygiene, cosmetics and similar others.
Due to the benefits of neem-based products on humans and the environment , China has increased the plantation of neem trees over the last few years, hence becoming the fastest growing country in APAC. The regions are bifurcated based on prominent countries where the demand for neem extract is expected to foster in the near future. Countries covered are Mexico , U.S. and Canada under North America; France, U.K., Germany and the rest of Europe under Europe; China, India and Japan under APAC; Africa and the Middle East under LAMEA.
The key vendors in this market are:
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, E.I.D Parry India Ltd.
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