Neem Extract Market Expands Sustainable Operations, Growth Opportunities & Industry Innovations

The neem extract market, as forecasted by Allied Market Research, is projected to reach $2.04 billion by 2022, with a compound annual growth rate (CAGR) of 17.4% during 2016 to 2022. In 2015, Asia-Pacific led in revenue generation, accounting for 51.8% of the global neem extract market revenue, with the agriculture segment being the highest revenue contributor among various applications.

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The surge in research and development activities surrounding neem has led to heightened awareness regarding its efficacy across different parts of the neem tree. This has resulted in its widespread incorporation into various organic food and cosmetic products. The market segments include agriculture, personal care, pharmaceutical, and animal feed. Notably, the personal care segment, driven by consumer awareness about the adverse effects of chemical-based products, is expected to grow at a remarkable CAGR of 19.6% during the forecast period.

Moreover, the pharmaceutical segment, with a market share of around 8.9% in 2015, is anticipated to witness substantial growth, attributed to the increasing consumer preference for Ayurveda and natural remedies devoid of side effects.

The COVID-19 pandemic significantly impacted the global economy, including the neem extract market. The report conducts a thorough analysis of the pandemic's micro- and macro-economic effects, emphasizing its direct impact on the market, supply chain disruptions, and post-pandemic scenarios with government interventions.

Regionally, Asia-Pacific is expected to maintain its dominance throughout the forecast period, while Europe is projected to exhibit lucrative growth, with a CAGR of 20.3%. This growth is propelled by the rising demand for organic products and environmental-friendly agricultural solutions.

Market players are expanding their product portfolios to meet consumer demands. Notably, AG Global, a U.S.-based organic fertilizer manufacturer, partnered with EID Parry India Ltd. in 2014 to integrate neem products into its offerings, leveraging Parry's distribution channels across North America.

Key companies profiled in the report include E.I.D Parry India Ltd., Neeming Australia Pvt. Ltd., Bros India Group, Agro Extracts Limited, Parker India Group, Fortune Biotech Ltd., The Indian Neem Tree Company, Ozone Biotech, PJ Margo Pvt. Ltd., and Gramin India Agri BusiNest.

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