Neem
Oil Market: Synopsis
Neem
oil boasts of immense significance across an array of fields due to
its multifarious and versatile properties. The presence of neem oil
to cure diseases, device therapies, flavor food, enhance agricultural
productivity, and a range of other applications, has led to the
flourishing of the global market for neem oil. The modern
pharmaceutical industry along with the age-old institutions of
ancient treatments such as Siddha, Ayurveda, and Unani, are active
users of neem oil. This has been a crucial factor in proliferating
the market for neem oils, which currently thrives across all major
geographical pockets. The focus on the use of bio-pesticides and an
increased impetus to skin care, are amongst other factors whose
interplay affects the market. Over the years, the traditional ways of
treatment have garnered the trust of the people, which has
strengthened the neem oil industry.
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The
segmentation of the market for neem oil bifurcates into two broad
categories namely, application-based and region-based. Both these
segmentations have further been elaborated to encapsulate various sub
domains that effectuate the use of neem oil.
The
researchers of the report have been deftly focused to trace an aptly
forecasted trajectory of growth for the neem oil market. The various
market dynamics have been substantiated to create room for the
opportunities within the market. There is also an outline of the
various factors that could disrupt the market in order to help
companies establish a resistance mechanism.
Neem
Oil Market: Key Trends
The
entire global medicinal industry has entrusted in the power of
traditional treatments in effectuating cures with minimal suffering.
Ayurveda and Unani medicines have seen a thriving demand in the
market which is inorganically bolstering the market for neem oil. The
application of neem oil hasn’t stayed restricted to the medical
fraternity but has also crossed across the arenas of agriculture,
physiology, dermatology, and waste disposal. It is used as an
additive to bio-insecticides and bio-pesticides while being an
efficient anti-dandruff and skin conditioning agent.
Unfortunately,
there is a rising concern amongst researchers with regards to the
infiltration of adulterated neem oil in the market, which sours the
trust of consumers. This could pose a threat to the entire market.
However, in the presence of strict regulations and checks, the
situation could be combated, thus, booming the global market for neem
oils.
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Neem
Oil Market: Regional Outlook
Since
the presence of neem oil has virtually transcended the entire world,
it hosts a differential market across various regions. The regional
segmentation of the global market for neem oil spans across Latin
America, Asia Pacific, North America, Europe, and Middle East and
Africa. The pervasiveness of agricultural activities across Asia
Pacific coupled with a favorable climate in the region makes it the
leading producer of neem oils across the globe. Even Europe and North
America have been witnessing a significant propulsion in the growth
of the market due to the stringent regulations towards the use of
synthetic cosmetics and agricultural products.
Neem
Oil Market: Key Market Players
There
is immense scope in the market for neem oils, and the entire host of
market players is expected to employ integral strategies in order to
attain a greater market share. The key market players include NOW
Foods, SUN BIONATURALS (INDIA) PRIVATE LTD Banyan Botanicals, United
Industries Corporation (Garden Safe), Murugappa Group, Neeming
Australia Pvt. Ltd., Ozone Biotech, Neem India Pvt. Ltd.
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