Global Neem Extract Market Overview and Growth Study 2021
Neem extract is a concentrated form of neem and is used as one of the most valuable products for various health benefits since ages. Growing demand from various industries including animal feed, agriculture, pharmaceutical, bio-fertilizers, nutraceuticals, pet care and personal care is driving the neem extract market and is anticipated to witness a significant growth over the coming years. Furthermore, rising consumer awareness regarding health benefits of neem extract, especially in the emerging economies, is expected to boost market demand in the near future. Earlier, the usage of neem extract was restricted due to the unawareness about the health attributes these products have. But with more scientific research and exploration neem based products are getting a huge customer base.This has led to a positive impact on the neem extract market.
DecisionDatabases has added this new report " Global Neem Extracts Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2021" offering the complete market analysis and growth trends. The report discusses the major companies operational in the neem extact industry and provides its detailed profile.
Chemical fertilizers and pesticides have harmful effects on the environment and human, on the other hand neem based pesticide and fertilizer is marked as an ideal alternative for farming. Hence, growing demand for bio-based pesticides, insecticides and fertilizers on account of the presence of stringent rules implemented by government agencies is anticipated to bolster the market growth over the forecast period. Additionally, neem extract has wide health benefits including lowered cholesterol and BP, regulated digestion and others medicinal properties. These medicinal benefits are likely to augment market growth in the pharma sector over the coming years. However, volatility in prices of neem extract along with prominent supply-demand gap may hinder the market growth in the near future.
Increasing consumer awareness about the medicinal benefits of neem extract along with its no-side effect property is propelling the industry growth. Rising usage of neem extract in the production of advance-quality herbal beauty and cosmetics product is expected to surge the market demand for the product over the forecast period. In addition, leading cosmetics companies have been extensively manufacturing neem based products such as body lotions, face cream, and herbal soap, which in turn will drive the market in the near future.
The pharmaceutical industry is the leading application segment of the neem extract and is expected to grow at a substantial rate over the forecast period owing to growing demand for neem extract due to its anti-inflammatory, antimicrobial, and antioxidant properties. Agriculture sector comes second in the rank and is also expected to witness a significant growth in the near future on account of rising demand for bio-based fertilizers and pesticides due to no health hazards in the long run.
Increasing feedstock cost for conventional fertilizers and their harmful effects will have negative impact over the chemical fertilizers market, which in turn will promote the demand for neem based fertilizers in the near future. However, high cost of neem extract and absence of quality feedstock coupled with efficient production technology can hamper the market growth over the coming years. Nevertheless, various R&D advancement has been carrying out to overcome this issue and to find an efficient and economical way of manufacturing neem extract in the near future. In addition, supportive government initiatives in the emerging economies, especially in China and India are introduced to promote the market growth over the forecast period.
Asia Pacific is the leading market for neem extract and is anticipated to become fastest growing market in the near future owing to favorable government and supportive agricultural regulations coupled with abundance of raw materials in the region. Neem extract market is dominated by a large number of un-organized players and major players include Agro Extracts Ltd., Neeming Australia Pvt. Ltd., EID Parry India Ltd., Parker Biotech Pvt. Ltd., Ozone Biotech, PJ Margo Pvt. Ltd., Greeneem Agri Pvt. Ltd. and Gramin India Agri BusiNest.
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