Market Synopsis:
Global Neem Extract Market is presumed to register 5.8 % CAGR during the forecast period (2019-2024) owing to the growing awareness for health concern, asserts Market Research Future (MRFR). Neem extracts are derived from neem leaves, seeds, and bark and are utilized in a variety of products across pharmaceuticals, agriculture, and cosmetics sector. Neem is considered to be an ideal ingredient in several organic products as it possesses a number of medicinal properties.
Drivers and Constraints Impacting the Market:
With the presence of a large pool of market players, the global Organic Neem Extract Market is likely to showcase a highly competitive business landscape. The rising awareness of health concern across the world is triggering the demand for neem extracts as it comprises medicinal properties. The growing awareness related to the side effects of extensive use of chemical-based products such as shampoos, soaps, and cosmetics, comprising artificial components are propelling the demand for neem extracts during the assessment period. Moreover, adoption of bio-fertilizers causing health problems are fostering the growth of the market at a global level. The antioxidant, anti-microbial, and anti-inflammatory properties offered by neem extracts have made neem extracts popular across animal feed and pharmaceutical sectors. The escalating trend towards organic food items is likely to offer lucrative avenues for the market in the coming years.
However, low availability of raw materials and decline in neem plantation is considered to impede the market growth over the assessment period. Moreover, the demand-supply gap coupled with high prices of neem products is projected to inhibit the market growth.
Neem Extracts Market-Segmental Analysis:
The global neem extracts market has been segmented on the basis of type, application, and region.
By mode of type, the global neem extracts market has been segmented into leaf extract, seed extract, and bark extract.
By mode of application, the global neem extracts market has been segmented into animal feed, agriculture, personal care, pharmaceuticals, and others. Among these, the agriculture segment is estimated to hold the largest market share. The growth in this segment has been attributed to the increasing concern related to environmental degradation which has resulted in increased demand for organic fertilizers and pesticides. In order to prevent harmful effects caused by synthetic pesticides and maintain the quality of soil, neem-based agricultural products are extensively used.
Competitive Analysis:
The global neem extracts market is highly fragmented due to the growing penetration of small-scale industries across the globe. Also, the low manufacturing cost of neem extracts is increasing the application scope across several industries. The major players operating the global market involve E.I.D-Parry (India) Limited, Fortune Biotech Ltd, Bros India Group, Agro Extract Limited, Ozone Biotech Pvt Ltd, The Indian Neem Tree Company, Neeming Australia Pty Ltd, Parker India Group, P.J. Margo Pvt. Ltd, and GreeNeem Agri Private Limited.
Regional Insights:
Geographically, the neem extracts market span across regions namely, North America, Europe, Asia Pacific, and Rest-of-the-World.
Among all the regions, Asia Pacific is considered to lead the worldwide market and is presumed to maintain its dominance over the assessment period. The growth in this region is majorly due to the easy availability of raw materials and favorable climatic conditions. Moreover, the high concentration of major market players being headquartered in Asia Pacific is another major factor impacting the market positively. Also, with major focus on agricultural activities in this region, the market is gaining impetus during the review period.
The North American and the European market is also gaining prominence during the assessment period as regulations are getting stricter regarding the use of synthetic agricultural ingredients. With herbal ingredients gaining importance among the consumers, the adoption of neem extracts in beauty products is likely to trigger.
Know More about the Report: https://www.marketresearchfuture.com/reports/neem-extracts-market-1067
About Market Research Future:
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