The global Neem Extracts Market is forecasted to reach USD 3,461.7 million by 2027, according to a new report by Reports and Data. The increasing awareness among consumers regarding the health benefits of neem in developing economies is expected to drive the growth of the neem extracts market in the region. The neem extract products are widely used in the pharmaceutical, personal care, agriculture, and food beverages industries. The rising awareness among the farmers regarding the adverse effects of chemical fertilizers and pesticides on plant growth and agricultural productivity has resulted in the increasing demand for neem-based pesticides and fertilizers. Increasing investments by the established herbal companies in the manufacturing of high-quality herbal cosmetics are most likely to drive the growth of the neem extracts market over the forecast period. The demand for bio-based personal care products is more compared to chemical-based personal due to the high quality of herbal cosmetics and beneficial medicinal properties.
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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.
- Key participants include 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, among others.
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For the purpose of this report, Reports and Data has segmented into the Global Neem Extracts Market on the basis of type, application, and region:
Type Outlook (Revenue, USD Million; 2017-2027)
- Leaf Extract
- Fruit and Seed Extract
- Bark Extract
Application Outlook (Revenue, USD Million; 2017-2027)
- Animal Feed
- Personal Care
Regional Outlook (Revenue, USD Million; 2017-2027)
- North America
- Asia Pacific
- Latin America
- Rest of LATAM
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Key Questions Answered In The Report
- What will be the market size and growth rate in the forecast year?
- What are the key factors driving the global Neem Extracts market?
- What are the risks and challenges in front of the market?
- Who are the key players in the global Neem Extracts market?
- What are the trending factors influencing the market shares?
- What are the key outcomes of Porter’s five forces model?
- Which are the global opportunities for expanding the global Neem Extracts market?
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