Rising Demand for Bio-based Fertilizers and Pesticides to Fuel Global Neem Extracts Market
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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.
Read Report Overview @ https://www.transparencymarketresearch.com/neem-extract-market.html
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.
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.
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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