Neem Oil Market COVID 19 Impact Analysis Updated Edition Top Players Include Manorama Industries Limited., Neem India Products Pvt. Ltd, Ozone Biotech, Neeming Australia, NOW Foods, Fortune Biotech Ltd
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The medicinal properties of neem oil to cure diseases, its ability to enhance agricultural productivity and flavor food fosters the growth of the neem oil market. The hazardous effects of chemical-based fertilizers and pesticides on humans have caused an alarming concern to the regulatory authorities and consumers. This has compelled the farmers to use bio-based farm products, which has a direct impact on the demand for neem extract-based fertilizers for agriculture purposes. This significantly drives the growth of the neem oil market. Neem oil is also potent element in pest repellent, which ultimately favors the market growth since it encourages neem oil manufacturing. However, countries such as Africa, which hold a smaller number of neem trees are compelled to import from Asian countries. This increases their cost of raw material and hence manufacturing of the product. Therefore, these manufacturers are inclined to opt for substitute herbs, which might consequently hinder the growth of the neem oil market.
Neem cake, which is a byproduct of the neem oil industry can be used as a livestock and natural pesticide. It also has tremendous potential as a mosquito repellent in countries facing diseases due to malarial pathogen. Neem oil significantly consists of contraceptive properties, which can be viewed as an opportunity by the pharmaceutical industry in countries such as China and India, facing severe population challenges.
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The neem oil market is segmented based on application, type, and region. Based on application, the market is divided into pesticides/agriculture, pharmaceutical industry, personal care, and cosmetics. Based on product type, it is classified into leaf extract oil, seed extract oil, and bark extract oil. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Major key players operating in the market include Manorama Industries Limited., Neem India Products Pvt. Ltd, Ozone Biotech, Neeming Australia, NOW Foods, Fortune Biotech Ltd, SUN BIONATURALS (INDIA) PRIVATE LTD., Banyan Botanicals, Group Velocity LLC, and Parry's BIO.
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