Neem extracts are derived from neem seed, leaves, and bark, and are used in a variety of products across the agriculture, cosmetics, and pharmaceutical sectors. Neem possesses a number of medicinal properties because of which it is an ideal ingredient in several organic products. Growing awareness about the side effects related to extensive use of chemical-based personal care products such as soaps, shampoos and cosmetics which includes artificial components, and adoption of bio fertilizers are some of the factors that foster the growth of the neem extract market. The neem extract market is bifurcated on the basis of application and geography. In 2015, Asia-Pacific was the highest revenue-generating region in the world neem extract market.
Based on application, the agriculture segment holds the largest share, almost two-thirds of the overall market. Growing concerns about environmental degradation have led to increased demand for organic pesticides and fertilizers. Thus, to maintain the quality of soil and prevent harmful effects of synthetic pesticides, neem-based agriculture products are increasingly being used. The segment is expected to grow rapidly, with a CAGR of 16.6% during the forecast period 2016-2022. However, the personal care segment is likely to exhibit the fastest growth rate, owing to the growing demand of organic personal care products (cosmetics, oral hygiene and similar others).
The report provides an in-depth analysis of the world neem extract market based on various regions, such as North America, Europe, Asia-Pacific, andLAMEA. The mentioned regions are segmented based on prominent countries where the demand for neem extract is anticipated to boost in the coming years. Countries covered are the U.S., Canada, and Mexico under North America; U.K., Germany, France, and the rest of Europe under Europe; India, China, and Japan under APAC; and the Middle East and Africa under LAMEA. Stringent regulations on the use of chemical-based agriculture products in Europe has resulted in increased demand of neem-related pesticides and fertilizers. The region is anticipated to reach $431.3 million by 2022, with a CAGR of 20.3% during the forecast period. Over the last few years, China has increased the plantation of neem trees, due to the benefits of neem-based products on humans and the environment, thus becoming the fastest growing country in APAC, with a CAGR of 17.7%.
The neem extract market comprises companies majorly located in APAC, as the neem tree is found mainly in the Indian subcontinent. E.I.D Parry is an India based company and is one of the major market players who has adopted business strategies such as expansion and partnership to have a strong foothold in the market. In 2013, E.I.D Parry entered the Andhra Pradesh market through its bio product division, Parry Bio. With this expansion, the company aimed to target the farmers to enable them to produce a good yield of crops with the help of safe and sustainable agricultural inputs. The key companies profiled include E.I.D Parry India Ltd., Neeming Australia Pvt. Ltd., Bros India Group, Agro Extracts Limited, Parker India Group, Fortune Biotech Ltd., The Indian Neem Tree Company, Ozone Biotech, PJ Margo Pvt. Ltd., and Gramin India Agri BusiNest.
NEEM EXTRACT MARKET KEY SEGMENTS:
The market is segmented on the basis of application and geography.
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