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Europe Neem Extract Market by Segment (Seed Extract, Leaf Extract, Bark Extract), by Application (Agriculture, Health and Personal Care, Animal Products) – Market Size, Share, Development, Growth and Demand Forecast, 2012-2022
Europe Neem Extract Market
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The manufacturers of FMCG products such as shampoos, toothpastes, and soaps in the region, are starting to integrate neem components to their offerings, as more number of customers demand neem flavored goods, due to its herbal, and healthier image.
Spain has been the key seed extract user in Europe, while Italy is the largest importer for bark extract products. Neem based toothpaste market is growing at a swift pace in the U.K., which is leading to increased demand for neem bark extracts in the region. Neem extract imports are growing in Europe due the increasing level of awareness about the safety profile of neem.
Certain cases of aflatoxin contaminated neem oil in the recent past, as observed by the organic farming associations, have raised minor concerns about neem extract imports in the region. The demand of neem extract for application in nutraceutical products is higher than personal care and the same for animal feed application is higher than pet care.
The European neem extract market is growing at a fast pace and is expected to continue its momentum due to rising government support in the region. The rising awareness regarding the uses of neem extract has made consumers in Europe more interested to use neem extract products for their daily needs.
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Pesticides passing EPA evaluation under FIFRA are granted a license or registration permitting them to sell those products in the region. Neem extract is also one of the most valued herb-based raw materials in Europe. Based on azadirachtin content, neem oil is segmented into several types.
Some of the major players operating in the European neem extract market include Neem BioTech, Certis USA LLC, Terramera Inc., American Vanguard Corporation, and Bayer AG. Due to low switching cost for buyers and high industrial growth, the rivalry amongst the key players is high.
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