Increasing demand for neem based herbal products in fertilizers and personal care industry is likely to uplift the demand for global neem extracts market over the review period. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on Global Neem Extracts Market Research Report- Forecast to 2021 that the market will demonstrate an exceptional CAGR while achieving million dollar growth readily in the forecast period.
The neem extract refer to oils, pastes, powders, cakes and other related products obtained through leaves, seeds, fruits and barks of the neem tree. Increasing demand for bio-based fertilizers and pesticides in agriculture along with strong government and other NGO’s support in Asia Pacific countries such as India, Japan and China to educate the farmers on extended use of bio based fertilizers for long term crop protection has uplifted the demand for neem extracts. Furthermore, increasing demand for herbal personal care products and increasing usage of bio-based feedstock in livestock and pest repellents for pets is driving the neem extract market.
Also, growing demand of for “Azadirachtin” which is an active compound in neem oil in both developed and developing markets such as the U.S., U.K, India, Vietnam and China is supporting the market growth over the review period. Additionally, promotional events in North America and Europe against genetically modified crops have been pushing regulatory authorities to encourage organic farming. Neem based agro-products have been gaining significance in western countries which is being reflected in the increasing market for neem extract.
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Latest Industry Updates:
Jul 2016 Godrej Consumer Products Limited (GCPL) today launched Godrej No. 1 germ protection soap having two powerful natural ingredients neem as a natural germ fighter, and coconut milk as a skin moisturizer. The company is highly involved in R&D activities to come up with new products.
May 2017 Gujarat Narmada Valley Fertilisers & Chemicals Limited (GNFC) launched its neem-based personal care products in 5 states of India. This will help the company to mark it presence at different regions, which will directly uplift the revenue of company.
Feb 2016 Himalaya launched its first ever pimple clear neem face washes for men. Company is focusing more on new product launch.
May 2017 VLCC launched its neem face wash with chamomile and tea tree, for fresh and nourished skin. The company is rigorously involved in product innovations.
Major Key Players:
The major key players in the industry are focusing on R&D, to bring up new products in the market. Also major companies are undergoing clinical trials for neem extract in face creams, gels, bio-pesticides, and other products. This initiative will help companies to provide clinically tested and safe products to consumers which will ultimately uplift the global neem extracts market. Large number of competitors and intensified competition among them is giving a tough competition in the global neem extracts market. Additionally, product certification such as ISO 9001, GMP and HACCP would be a differentiating factor among the competitors. The best long-term growth opportunities for this sector can be captured by improving product quality and optimized investment strategies.
The key players profiled in neem extract are as E.I.D-Parry (India) Limited, Neeming Australia Pty Ltd, P.J. Margo Pvt. Ltd, Agro Extract Limited, Ozone Biotech Pvt Ltd, GreeNeem Agri Private Limited, Fortune Biotech Ltd, Parker India Group, The Indian Neem Tree Company, and, Bros India Group
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The global neem extract market has been divided into type, application and region.
- On the Basis of Type: Seed Extract, Leaf Extract and Bark Extract
- On the Basis of Application: Agriculture, Animal feed and personal care & pharmaceuticals
- On the Basis of Region: North America, Europe, Asia Pacific and ROW.
The Global Neem Extract Market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Global Neem Extract market is highly dominated by North America. North America was the largest consumer for bio-pesticides in 2013. The U.S., Canada and Mexico are the major consumers of neem extracts in agricultural sector due to stringent regulations on the use of chemical-based agriculture products in this region has resulted in increased demand of neem-related pesticides and fertilizers.
Also, the awareness regarding health benefits of neem products is also projected to stimulate the growth of North America market during the forecast period. Europe is also anticipated to witness decent growth over the forecast period due to the early adopter of new products and technology. Asia Pacific region is projected to grow tremendously during the forecast period. Moreover, the presence of various developing economies such as India, China and ASEAN countries are providing extra demand of the neem extract product. Mounting growth of pharmaceutical industry in India and china are also anticipated to be one of the significant drivers in Asia Pacific region.
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