Rising demand for bio-fertilizers and bio-pesticides is expected to drive the growth of the global neem extracts market. Furthermore, the growth is expected to be supported by widening applications of neem extracts in the personal care toiletry and pharmaceutical industry.
European countries such as Germany, France, Spain, Italy and United Kingdom are witnessing considerable demand for organic/natural products. Moreover, these countries are undertaking organic farming at larger scale compared to other countries in the world. By application, chemicals and fertilizer segment is the largest segment of this market. Neem is primarily used as a bio-pesticide and bio-fertilizer in agricultural applications. However, rising awareness about the health benefits of neem extracts would increase its usage in personal care segment at a rapid pace followed by pharmaceuticals. Moreover, over the next six years, the application of neem extracts in animal feed and pet care is expected to witness substantial growth.
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Geographically, Europe is expected to experience robust growth in the coming six years followed by North America. Asia Pacific accounted for largest market share in 2013. Although Asia Pacific is expected to continue its dominance in the neem extracts market, however fast growth in Europe and North America would curb its market share by 2019. In Asia Pacific, India is the largest producer and consumer of neem extracts at present, however robust growth in China’s neem extracts production would pose significant challenge to India during the forecast period.
The global neem extracts market is highly fragmented accounting for large number of firms operating in this field. Most Indian companies export neem extracts to end users in Europe and North America. Some of the leading market players in neem extracts market are EID Parry India Ltd, Parker Biotech Pvt Ltd and PJ Margo Pvt Ltd.
The neem extracts market has been segmented as follows for better understanding and to formulate winning strategies for the market players
Neem Extracts Market by Applications
- Personal care
- Chemicals and Fertilizers
- Animal Feed and Pet Care
- North America
- Asia Pacific
- Rest of the World
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