A new report by Reports and Data has projected that the global neem extracts market will achieve a value of USD 3,461.7 million by 2027. The market growth is expected to be driven by the rising awareness among consumers in developing economies of the health benefits associated with neem. Neem extract products are extensively used in the agriculture, food and beverage, personal care, and pharmaceutical industries. The growing consciousness among farmers of the harmful effects of chemical fertilizers and pesticides on plant growth and agricultural productivity has led to an increased demand for neem-based pesticides and fertilizers. The market is also expected to benefit from the growing investments made by established herbal companies in the production of high-quality herbal cosmetics. As herbal cosmetics are of higher quality and possess beneficial medicinal properties, the demand for bio-based personal care products is expected to exceed that of chemical-based products
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Top Companies Operating in the Global Neem Extracts Market Report:
E.I.D. Parry India Ltd., Agro Extracts Limited., Parry America, Ozone Biotech, Trifolio-M GmbH, PJ Margo Pvt. Ltd., Neeming Australia Pvt. Ltd., The Indian Neem Tree Company, Phyto Life Sciences P. Ltd., and Green Earth Products Pvt. Ltd.
Further key findings from the report suggest
- The leaf extracts segment accounted for the largest market share of the neem extracts market in 2019. The neem leaf extract has wide usage in the pharmaceutical industries for the manufacturing of medicines related to eye disorders, skin ulcers, cardiovascular diseases, diabetes, leprosy, gum disease, loss of appetite, and liver problems.
- The Biofertilizers held the largest market share of 43.15% in 2019 and is expected to maintain steady growth over the forecast period. The increasing awareness regarding the adverse effects of chemical fertilizers and pesticides on agricultural productivity has resulted in the growing adoption of biofertilizers for agricultural practices.
- The Asia Pacific accounted for the largest market share in 2019 and is expected to be the fastest-growing region of the Neem Extracts Market over the forecast period. The availability of the raw materials and favorable climatic condition in the region is expected to drive the growth of the neem extracts market over the forecast period
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The global Neem Extracts market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Type Outlook (Revenue, USD Million; 2017-2027)
- Leaf Extract
- Fruit and Seed Extract
- Bark Extract
Application Outlook (Revenue, USD Million; 2017-2027)
- Biofertilizers
- Pharmaceuticals
- Animal Feed
- Personal Care
- Others
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market? What kind of strategic business plans have they made?
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