Neem Extracts Market is Expected to be Worth US$1126.8 mn by 2019 ,Expanding at a CAGR of 14.7% between 2013 & 2019
The global neem extracts market is highly fragmented with a large number of unorganized players operating across the globe. Transparency Market Research reports that some of the most prominent companies in the market with good export potential are concentrated in India. The country alone has more than 150 small- and medium-sized vendors dealing in neem extracts.
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However, these companies collectively hold a nominal share in the global market. On the other hand, vendors with technologically advanced equipment for key production steps such as cleaning, de-pulping, drying, disinfection, storage, and extraction have an upper hand. Some of these prominent vendors are E.I.D Perry India Ltd., Parker India Group Pvt. Ltd., P J Margo Pvt Ltd, Fortune Biotech Ltd., Neeming Australia Pvt Ltd., GreeNeem, and Prithvi Exports.
Increased Applications in Cosmetics and Pharmaceuticals to Fuel Demand
Rising concerns regarding the harmful effects of chemical-based and synthetic insecticides on the fertility of agricultural land and on the health of humans has increased the global demand for and consumption of bio-based alternatives. Several studies have also pointed out that nearly 60% of conventional synthetic fertilizers contain potential carcinogens, which can easily seep into water and soil, causing contamination. Concerns surrounding this fact have substantially boosted the global demand for neem extracts, which contains Azadirachtin – a compound with natural insecticidal properties.
Rising awareness regarding the medicinal benefits of neem have also boosted the demand for neem extracts across the pharmaceutical and personal care industries. Though the segment of bio-insecticides and fertilizers is presently the largest contributor to the revenue of the global neem extracts market, the personal care and pharmaceutical industries are expected to have an increased share in market’s revenue in the next few years. The flourishing growth of these end-use industries on a global front is projected to have a wide-ranging impact on the overall development of the global neem extracts market in the near future.
Geographically Limited Plantation Hinders Widespread Growth Prospects
Neem extract and products have some unwanted side-effects such as allergic reactions, hypertension, infertility, and Reye’s syndrome. The natural antioxidants in neem extract can help in toxicity and waste removal from the body. However, the excess of the same has also been linked to liver and kidney damage. This could have a negative impact on the development of the global neem extracts market.
The limited geographic availability of neem has a significant influence of the global supply of neem extract, limiting the overall development of the market. Neem plantations are mostly concentrated in South Asian subtropical countries such as India, China, Indonesia, and Sri Lanka and are sparsely found in other parts of the world. Such varying availability of neem on a global front is expected to have a high impact on the growth prospects of the global neem extracts market over the forecast horizon.
Global Neem Extracts Market to Register Considerable Growth by 2019
Transparency Market Research states that the global neem extracts market will witness expansion at a significant pace in the next few years, rising from a valuation of US$706 mn in 2015 to US$1,126.8 mn by 2019. In terms of application, the segment of chemical and fertilizers is presently leading the market, with a valuation of US$498.79 mn in 2015. The segment is expected to retain its dominance throughout the forecast period, rising to a valuation of US$768.14 mn by 2019. Geography-wise Asia Pacific leads owing to the high concentration of neem tree plantations and key market vendors in India.
This review is based on a market research report published by Transparency Market Research, titled “Neem Extracts Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013 – 2019.”
For the study, the market is segmented as follows:
Global Neem Extracts Market by Applications
Chemicals and Fertilizers
Animal Feed and Pet Care
Global Neem Extracts Market by Geography
Rest of the World (RoW)