Global Neem Extract Market Size, Share, Development, Growth and Demand Forecast to 2022 - Industry Insights by Segment, by Application
LONDON, Dec. 19, 2016 /PRNewswire/ -- The neem extract refer to oils, pastes, powders, cakes and other related products obtained through leaves, seeds, fruits and barks of the neem tree. The neem extracts find their applications in agriculture, health and personal care and animal products.
The global neem extract market is mainly driven by the increasing consumption of bio-based fertilizers and pesticides, especially in Europe. The rejuvenation of ayurveda-based therapy owing to campaigns and advertisements by the domestic ayurvedic companies, such as Patanjali (India), has increased the scope of neem extract in personal care domain. The increase in bio-based animal farming during the past few years is also expected to increase demand for neem extract globally. The increasing consumption of bio-based pesticides and fertilizers in the Asian countries is laying growth opportunities for the neem extract market. However, the restraints for the growth of market include less concentration of neem plantations in non-Asian countries and negative opinion of certain people about the safety profile of neem-based health products.
The bio-based animal farming has increased during the past few years owing to increasing demand for meat obtained from biologically grown animals. Neem leaves and neem seed cake are used as animal feed that contain proteins, amino acids, carotene and minerals. Animals such as camel, goat, sheep and crossbred lambs are fed with neem leaves during winters, a part of their daily feed, as they increase productivity of these animals during the season. Neem is also well known as an effective pest repellent for pet animals. The increasing population of pet animals globally and people's growing concern for safety of their pets has encouraged neem oil manufacturing.
Many of the Asia-Pacific countries such as China, India and Philippines use large amount of bio-based fertilizers made from crop and animal waste. However, neem based fertilizers and pesticides account for a small portion of the total agro-supplements in many of the countries in the region. With a vast access to neem plantation in the region coupled with growing awareness of people about the benefits of neem in agriculture and livestock feeding, these countries lay significant opportunities for neem extract market in the medium and long term.
Brazil and China have observed neem as a highly beneficial tree, which is leading them to invest in its plantations. While China has already started investing in neem plantations, Brazil is looking for private sector investors for the same. This not only hints at their domestic neem extract consumption growth but also provides increasing opportunities for its international trade. With Brazil becoming one of the exporter, the import of neem extract by certain countries (such as North America) is expected to increase in the long run.
With the growing awareness among people towards the harmful effects of chemical based cosmetics on skin, hair and other body parts, the significance of neem based products have risen to a considerable extent. About two decades ago, the ayurvedic medicines in India had been constantly losing its market to allopathic medicines. However, campaigns and advertisements by the Indian domestic ayurvedic companies, such as Patanjali, the ayurvedic medicines have started to rejuvenate. The medicinal benefits of neem are well known in Asia-Pacific and its awareness is percolating to other parts of the globe. With the passage of time, the western countries are increasingly turning towards herbal products for personal care. A large range of neem based cosmetic and personal care products, including bathing soap, face cream, face wash and shampoos, are now being used in the North American and European countries.
The major players operating in the global neem extract market include 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., The Indian Neem Tree Company, Bros India Group. Other key players include Certis USA LLC, Bayer AG, American Vanguard Corporation, Terramera Inc., and Grupo Ultraquimia and Bioneem Technology Industria e Comercio Ltda.
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