Neem Extract Market Demand | Industry Challenges, Key Vendors, Drivers, Trends and Forecast to 2024
Market Insight
Global Neem Extract Market has witnessed an impressive growth over the last few years. Increasing awareness among people towards the adverse effects of chemical based personal care, the importance of neem-based products has augmented 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 domestic ayurvedic companies in the country, 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 bio-based animal farming has increased during the past few years owing to increasing demand for meat obtained from biologically grown animals.
Major Key Players
The key players profiled in Neem Extract Market are Neeming Australia Pty Ltd. (Australia), P.J. Margo Pvt. Ltd. (India), E.I.D. Parry Limited (India), Agro Extracts Limited (India), Gree Neem Agri Pvt Ltd (India), Bayer AG (Germany) and Certis USA LLC (U.S.)
Global Neem Extract Industry is marked by high intensity of rivalry. The market players in the Global neem extract industry indulge in fierce rivalry where the market players are aggressively targeting its competitors in terms of quality and price, thus making the industry more competitive and reducing profit potential for the existing firms. Market players in global neem extract have excess production capacity and focus on strategic investments and R&D along with participating in the various exhibitions and trade shows in order to enhance their customer base.
Latest Industry Updates
Feb 2018 Oshea Herbals has launched neempure cleansing bar which is made with neem leaf extracts
May 2017 VLCC has introduced neem face wash owing to the high demand of herbal products
June 2017 Zillonlife Global Pvt. Ltd. has launched four new products with natural extracts including neem
Segments
Neem Extract Market has been divided into type, application, and Region
On the Basis of Type: Leaf extract, seed extract and others
On the Basis of Application: Pharmaceuticals, cosmetics & personal care products, animal feed, chemicals & fertilizers, pet food and others
On the Basis of Region: North America, Europe, Asia Pacific and Rest of the World
Regional Analysis
Global Neem Extract Market is segmented by region which comprises of Europe, North America, Asia Pacific and Rest of the World. Among all the regions, Asia Pacific is accounting for significant market share in global neem extract market and it is expected to retain its dominance throughout the forecast period of 2017-2024. The growth of the neem extract in Asia Pacific region is anticipated to be driven by the various factors. The demand for the neen extract in Asia Pacific is mainly driven by the rising production of medicinal extracts.
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Moreover, the demand of the herbal medicine is increasing at a high pace which in turn escalates the growth of the neem extract market in the Asia Pacific region. Many of the Asia-Pacific countries such as China, India, and Philippines use large amounts of bio-based fertilizers made from crop and animal waste which can be one of the significant factors for the rising growth of neem extract in the Asia Pacific region. Among the Asia Pacific countries, China & India are collectively holding major market share in the Asia Pacific region.