Press release
Neem Extract Market to Reach $4.89 Billion at a CAGR of 13.0% during the Forecast Period 2024-2033
Neem Extract Market Report
The Business Research Company offers in-depth market insights through Neem Extract Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The neem extract market size has grown rapidly in recent years. It will grow from $2.66 billion in 2023 to $3 billion in 2024 at a compound annual growth rate (CAGR) of 12.9%. The growth in the historic period can be attributed to traditional medicinal uses, natural pest control in agriculture, skin care and cosmetics industry demand, increasing awareness of neem's health benefits, environmentally friendly biopesticides.
The neem extract market size is expected to see rapid growth in the next few years. It will grow to $4.89 billion in 2028 at a compound annual growth rate (CAGR) of 13.0%. The growth in the forecast period can be attributed to rising demand in personal care products, continued growth in organic farming, expansion in nutraceuticals industry, government initiatives supporting herbal products, emergence of neem-based functional foods. Major trends in the forecast period include research and development for new applications, expanding applications in healthcare, growing demand in agriculture, increasing awareness of herbal remedies, regulatory support for natural products.
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Market Segmentation:
The neem extract market covered in this report is segmented -
1) By Type: Leaf Extract, Fruit And Seed Extract, Bark Extract
2) By Formulation: Dry, Liquid
3) By Application: Food And Beverages, Pharmaceutical, Nutraceutical, Personal Care And Cosmetics, Agriculture And Farming, Other Applications
Major Driver - Neem Extract Market Thrives On Surging Demand For Natural And Chemical-Free Products
The growing demand for organic products is expected to propel the growth of the neem extract market going forward. Organic products refer to products that are created using only natural components, without the use of any artificial chemicals, hormones, antibiotics, or genetically modified organisms (GMOs). Neem extract is utilized in various sectors, including agriculture, personal care goods, medicines, and animal feed since its unique properties such as antibacterial and antifungal properties make it a perfect component for different organic and natural products. For instance, in December 2022, according to the U.S. Department of Agriculture's National Agricultural, a US-based government agency, organic product sales reached $11.2 billion in total in 2021, up by $1.28 billion with an increase of 13% from 2019. Therefore, the growing demand for organic products is driving the growth of the neem extract market.
Competitive Landscape:
Major companies operating in the neem extract market report are East India Distilleries Parry Limited, Reddy International, Neeming Australia Pty Ltd., Parker Hannifin India Private Limited, Bros India Group, Gramin India Agri BusiNest, Agro Extracts Limited, Fortune Biotech Ltd., The Indian Neem Tree Company, Ozone Biotech, PJ Margo Pvt Ltd., Trifolio-M-GmbH, GreeNeem Agri Pvt Ltd., Neem India Products Pvt Ltd., Phyto Life sciences Pvt Ltd., Green Earth Products Pvt Ltd., Ichimaru Pharcos Co Ltd., Greenchem Biotech, Sunrise Agriland Development & Research Pvt Ltd., Unjha Ayurvedic Pharmacy, Herbo Nutra Extract Private Limited, APEX INTERNATIONAL, MRIDA GREENS & DEVELOPMENT PRIVATE LIMITED, YAXON BIOCARE Pvt LTD., AYUSH HERBALS & HEALTHCARE PRIVATE LIMITED, Herbal Creations, Eisai Pharmaceuticals India Pvt Ltd, GSK Exports and Imports, Cymbio Pharma Pvt Ltd, Truzt Organic, Quimico, Ally Matthan Creations Pvt Ltd
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Top Trend - Neem Extract Market Leaders Drive Innovation Through Research And Development For Sustainable Agriculture
Major companies in the neem extract market are hosting research and development on neem-based solutions to sustain their position in the market. Research and development fuels neem extract potential, driving innovation, improving quality, and expanding markets globally. For instance, in October 2023, University of Ghana, a Ghana-based public university, conducted a research dissemination workshop, shedding light on neem-based solutions for cultivating healthy vegetables, organized by ARPPIS at the University of Ghana, focused on promoting safe vegetable production. The workshop served as a platform for diverse stakeholders and highlighted the importance of neem-based solutions for sustainable and safe vegetable farming in Ghana.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Neem Extract Market Characteristics
3. Neem Extract Market Trends And Strategies
4. Neem Extract Market - Macro Economic Scenario
5. Neem Extract Market Size And Growth
…..
27. Neem Extract Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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