Press release
Neem Extract Market by Segment, Application and Geography - Forecast to 2022
Based on product type, the market is categorized into seed extract, leaf extract and bark extract, where seed extract segment witnessed highest sales in 2015. The neem extract market is highly fragmented with very small-sized players who do not have a fix channel for international sales, except online marketplace.
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The global neem extract market is expected to grow at a CAGR of 16.3% during 2016 - 2022. Among the various segments, seed extract dominated the global neem extract market in 2015.
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China and India are the other major countries in the region using neem extract based farm products. In 2016, Indian Farmers Fertilizer Cooperative Limited (IFFCO) announced a scheme under which the organization will purchase neem tree fruits from farmers to increase the production of bio based fertilizers in the country. IFFCO itself has planted about 150,000 neem saplings in the recent years. The Indian government has also made it mandatory to produce neem coated urea.
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The major companies operating in the global Neem Extract market include E.I.D. Parry (India) Limited, Neeming Australia Pty Ltd., P.J. Margo Pvt. Ltd., Agro Extract Limited, Ozone Biotech Pvt. Ltd., GreeNeem Agri Private Limited, Fortune Biotech Ltd., The Indian Neem Tree Company, Bros India Group. Other key players include Certis USA LLC, Bayer AG, American Vanguard Corporation, Terramera Inc., and Grupo Ultraquimia and Bioneem Technology Industria e Comercio Ltda.
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