Neem Extracts Market Giants Spending Is Going To Boom | Neeming Australia Pty Ltd, Fortune Biotech Ltd, The Indian Neem Tree Company
Research Reports
Aug 24, 2023
Neem Extracts Market Overview:
Market Research Future (MRFR) confirms that the Neem Extract Market Size will expand at a rate of 5.8% between 2020 and 2027. By the end of 2027, the global market will touch USD 4.5 billion, with maximum growth expected to be in the Asia Pacific.
Primary Drivers and Deterrents:
The Neem Extracts Market will see relentless growth in the years to come, thanks to the surging demand from several end-use industries such as pharmaceutical, personal care, agriculture, and animal feed. Additionally, the rising consumer awareness with regard to neem’s health benefits, majorly in developed countries like the US, will also enhance the industry size in subsequent years.
Usage of fertilizers and chemical pesticides in farming leads to a decline in the quality of the crops with toxic effects on the ecology. This highlights the importance of neem-based pesticides and fertilizer in farming. Therefore, a heightened preference for bio-based pesticides, insecticides, and fertilizers in developing and developed countries due to the presence of strict government regulations could propel the market position in the following years.
Massive demand for neem as well as its extracts in Europe on account of the strict regulations banning the production of chemically harvested vegetables and fruits, especially in Spain and Italy will favor the market. But a significant supply-demand gap and substantial costs of neem products in Europe can act against the worldwide market.
On the bright side, neem and its extracts are increasingly being utilized in the production of high-quality and performance herbal cosmetics as well as beauty products. The escalating demand for these items worldwide can be in response to their high efficiency along with zero side effects. On top of this, reputed herbal brands have been progressively developing products including body lotions, fairness creams, and hand creams that have ingredients like neem extracts to cater to the surging demand from consumers in the UK and the U.S.
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Eminent Firms:
Phyto Life Sciences P. Ltd (India), Bros India Group (India), Neem India (India), Parker India Group (India), Fortune Biotech Ltd (India), The Indian Neem Tree Company (India), PJ Margo Pvt. Ltd (India), GreeNeem Agri Pvt Ltd (India), Agro Extracts Limited (India), Trifolio-M GmbH (Germany), Green Earth Products Pvt. Ltd (India), Ichimaru Pharcos Co., Ltd (India), Neeming Australia Pty Ltd (Australia), Gramin India Agri Businest (India), Ozone Biotech (India), are the top manufacturers of neem extracts in the worldwide market.
Market Segmentation:
Different types of neem extracts are fruit and seed extract, bark extract, as well as leaf extract. The leaf extract segment can expect to achieve the leading spot in the worldwide market and shall also garner the highest growth rate between 2020 and 2027.
Major applications of neem extracts are personal care, pharmaceuticals and nutraceuticals, food & beverages, agriculture and farming, and more.
Browse In-depth Market Research Report (115 Pages) on Neem Extracts: https://www.marketresearchfuture.com/reports/neem-extracts-market-1067
Regional Outlook:
In Asia Pacific, the lead has been taken by India, where there is high access to extensive neem plantations as well as substantial public awareness about the benefits of neem extracts in agriculture and livestock feeds. The Indian market for neem extract is performing remarkably well, given the strong base of numerous ayurvedic companies such as Patanjali, Dabur, Zandu and Baidyanath that make extensive use of herbs like neem in their products. The deployment of fertilizer-based neem extract items is the highest in the country, where they are used as pesticides. Neem extract also finds extensive use in a variety of personal care products and even in nutraceuticals.
Europe will observe a consistent expansion in the ensuing years, thanks to the supportive regulatory framework and the surging sales of herbal goods in the region. With respect to agricultural applications, neem extracts have widespread use in biopesticides in the region compared to fertilizers, owing to increasing health consciousness among consumers and the rise in municipal and federal programs focused on forest improvement.
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