Global
Neem Extracts Market: Snapshot
Derived
from neem leaves, seeds, and bark, neem extract has gained much
importance over the decades for its medicinal properties. Its usage
in the cosmetics, agriculture, and pharmaceutical industries can be
attributed mainly to the fact that an increasing number of people
around the world have realized the adverse effects resulting from
prolonged use of chemical-based personal care and agriculture
products.
In
the pharmaceutical industry, neem
extracts help in regulated digestion, lower cholesterol and
blood pressured, eased palpitations, and reduced blood clotting. In
the personal care sector, neem extract is used in body lotions,
fairness creams, and hand creams among others owing to zero side
effects resulting from its application. The global neem extract
market is slated to value US$1,126.8 mn by 2019, exhibiting a
double-digit CAGR during the forecast period.
Growing
Preference for Natural and Herbal Ingredients Ups Demand in Personal
Care Industry
By
way of application, the global market for neem extract is divided
into pharmaceuticals, personal care, animal feed, and chemicals and
fertilizers. Fertilizers are a key application area for neem extracts
owing to the soaring demand for bio-insecticides and bio-pesticides,
mainly in agriculture-centric regions such as Asia Pacific. Growing
awareness among consumers and strict government regulations
pertaining to the harmful effects of chemical fertilizers on personal
health and the overall environment has played a major role in the
rising uptake of neem extract as a key ingredient in many
biofertilizers.
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The
personal care and cosmetics industry is also a key application
segment, with an increasing number of consumers leaning toward herbal
beauty care products. Natural ingredients are in great demand and
neem extracts – with their plethora of benefits – are a key
ingredient. In addition to this, the antioxidant, antimicrobial, and
anti-inflammatory advantages presented by neem extract makes them an
important element in the pharmaceutical sector.
Market
to Remain Strong in Asia Pacific owing to Easy Availability of Raw
Material
The
global market for neem extracts is segmented on the basis of
geography into Asia Pacific, Europe, North America, and Rest of the
World. Asia Pacific has been identified as one of the leading and
most promising markets for neem extract, mainly due to favorable
climatic conditions. Apart from this, major focus on agricultural
activities in the region, the greater availability of raw material,
and increased importance given to neem by people owing to its
medicinal properties are factors also contributing to the growth of
the Asia Pacific market. Considering that India is a key exporter of
neem extract, the regional market has been gaining added impetus.
The
Europe and North America markets for neem extract have been gaining
prominence of late as regulations get even stricter regarding the use
of synthetic agricultural ingredients in personal care products and
cosmetics. Therefore, as herbal ingredients gain preference among
consumers, the adoption of neem extracts in beauty products in these
two regions will continue to rise.
Neeming
Australia Pvt. Ltd., Parker India Group Pvt. Ltd., Ozone Biotech,
Prithvi Exports, Fortune Biotech Ltd., P J Margo Pvt Ltd., E.I.D
Perry India Ltd., Trifolio-M GmbH, and Agro Extracts Limited are some
of the prominent names in the neem extracts market, hinting at the
fragmented nature of this market. An increasing number of smaller
players has also rendered the neem extracts market rather fragmented.
This can be attributed to favorable climatic conditions in several
parts of APAC, growing scope of application of neem extracts in a
wide range of industries, and low manufacturing cost.
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