Market Analysis
The global neem extract market is likely to touch USD 4.5 billion at a 5.8% CAGR between 2020- 2027, according to the new report by Market Research Future (MRFR). Neem extracts, simply put, are extracts derived from the seed, bark, and neem leaves. Owing to its excellent properties, it has wide applications infood and beverages, agriculture and farming, personal care, pharmaceuticals and nutraceuticals, and others.
Various factors are propelling the global neem extract market share. As per the latest MRFR report, such factors include growing use in different industries such as pharmaceuticals, food and beverages, personal care, and agriculture, increasing use in mosquito pest repellents, growing awareness regarding the medicinal advantages of neem, demand for bio-based fertilizers, pesticides, and insecticides in the agricultural sector, and surging demand for neem extracts for its multiple health benefits such as regulating digestion, ease palpitation, reduce cholesterol and blood clotting, and regulate blood pressure. Additional factors adding market growth include a rising preference for Ayurveda products in different disease treatments and demand for beauty products that have zero-side effects.
On the contrary, high product costs, coupled with limited accessibility of raw materials, are factors that may impede the global neem extract market growth over the forecast period. Besides, the demand and supply gap of raw materials due to the ongoing COVID-19 pandemic is also affecting the market growth.
Market Segmentation
The MRFR report offers an inclusive segmental analysis of the global neem extract market report based on application type.
By type, the global neem extract market is segmented into bark extract, fruit seed extract, and leaf extract. Of these, the leaf extract segment will lead the market over the forecast period.
By application, the global neem extract market is segmented into food and beverages, agriculture and farming, personal care, pharmaceuticals and nutraceuticals, and others. Of these, the personal care segment will lead the market over the forecast market. This will be followed by the agriculture and farming segment for the increasing use of neem extracts as a natural fertilizer in the agriculture farming industries for the surging demand by consumers for food products that are organically grown.
Regional Analysis
Based on the region, the global neem extract market outlook report covers the growth opportunities and recent trends across North America, Europe, the Asia Pacific (APAC), the Rest of the World (RoW). Of these, the APAC region will lead the market over the forecast period. Favorable climate conditions to grow neem trees, growing awareness regarding the medicinal perks of neem, burgeoning demand for herbal products like powder, shampoo, soap, toothpaste, and others are adding to the global neem extract market growth in the region. Besides, the growing awareness about the perks of extracts of neem as natural fertilizers among farmers is also adding market growth. Vietnam, Japan, China, and India have the maximum share in the region.
The global neem extract market in North America is predicted to have moderate growth over the forecast period followed by Europe that is predicted to have favorable growth over the forecast period. Growing preference for herbal cosmetics, rising level of cognizance about Ayurvedic treatment on various diseases, and increasing penetration of herbal products are adding to the global neem extract market growth in Europe.
The global neem extract market in the RoW is predicted to have sound growth over the forecast period.
Key Players
Key players profiled in the global neem extract market report include Trifolio-M GmbH (Germany), Neem India (India), Ichimaru Pharcos Co., Ltd (India), Green Earth Products Pvt. Ltd (India), Phyto Life Sciences P. Ltd (India), Bros India Group (India), GreeNeem Agri Pvt Ltd (India), Gramin India Agri Business (India), PJ Margo Pvt. Ltd (India), Ozone Biotech (India), The Indian Neem Tree Company (India), Fortune Biotech Ltd (India), Parker India Group (India), Agro Extracts Limited (India), and Neeming Australia Pty Ltd (Australia).
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