The
global neem extracts market has a fragmented vendor landscape on
account of the presence of a large number of unorganized companies
across the globe, observes Transparency Market Research in a recent
report. However, a large share of the total global number of leading
neem extract exporters are located in India. Domicile to over 150
small- and mid-sized companies operating in the neem extract sector,
India holds a strong position in the global neem extract market and
is expected to remain one of the key hubs for the overall development
of the global neem extracts market in the near future.
However,
these companies collectively account for a nominal share of the
overall market and companies with advanced equipment for operations
such as de-pulping, disinfecting, drying, extraction, and storage
overshadow. Some of the leading companies in the global neem extracts
market are Parker India Group Pvt. Ltd., Neeming Australia Pvt Ltd.,
Fortune Biotech Ltd., GreeNeem, P J Margo Pvt Ltd, E.I.D Perry India
Ltd., and Prithvi Exports.
In
one of its recent reports, Transparency Market Research estimates
that the global neem extracts market will exhibit a promising pace of
expansion in the near future and rise from an opportunity of US$706
mn in 2015 to US$1,126.8 mn by 2019.
Asia
Pacific Market to Present Considerable Growth Opportunities
In
terms of application, the chemical and fertilizers segment accounted
for the dominant share in the global market, representing an
opportunity of US$498.79 mn in 2015. With rising focus on the use of
bio-based fertilizers and several regulations arresting the growth of
synthetic fertilizers working in favor of the bio-based fertilizer
sector, the segment is likely to remain the key consumer of neem
extracts in the near future, representing a revenue
opportunity of US$768.14 mn by 2019.
From
a geographical standpoint, the market in Asia Pacific accounts for
the dominant share of the overall market. The regional market
overshadows other regions as the plantation of neem is majorly
restricted to the South Asian region and there has been an
ever-increasing demand for neem extracts in bio-based fertilizers,
pesticides, and natural and herbal products across countries such as
India, Sri Lanka, Pakistan, Nepal, and Bangladesh in recent years.
Rising
Set of Applications in Cosmetics to Drive Growth
Neem
is a popular medicinal herb and is extensively used in a vast array
of applications ranging from natural skin care to pest control. The
increasing side effects of chemical-based skin care products has
awakened the consciousness of the people towards the use of safer,
milder, and nature-based ingredients. Therefore, as the preference
for nature-based products penetrates deeper in the psyche of the
worldwide population, the global market for neem extracts is expected
to gain traction.
The
demand for neem-based anti-aging and anti-acne skin care products has
been rising of late. Growing geriatric population across several
regions of the world has been responsible for the exploding demand
for neem-based face washes, creams, gels, and lotions. Numerous
soaps, hand washes, and oral care products such as toothpastes also
use neem as a core ingredient. The market for neem extracts is being
driven by increasing consumer base, high disposable incomes of the
people, and growth of the cosmetics industry.
This
review of the global neem extract market is based on a recent market
research report by Transparency Market Research, titled “Neem
Extracts Market (Application - Personal Care, Pharmaceuticals,
Chemicals and Fertilizers, and Animal Feed) - Global Industry
Analysis, Size, Share, Growth, Trends, and Forecast, 2013–2019.”
For
the study, the market has been segmented as follows:
Global
Neem Extracts Market by Applications
- Personal Care
- Pharmaceuticals
- Chemicals and Fertilizers
- Animal Feed and Pet Care
- Others
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