Global Neem Extracts Market is Expected to Reach USD 1126.8 million by 2019

According to a new market report published by Transparency Market Research “Neem Extracts Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013– 2019”, the global neem extracts market was worth USD 495.6 million in 2013 and is expected to reach USD 1126.8 million in 2019, growing at a CAGR of 14.7% from 2013 to 2019. Asia Pacific was the largest market for neem extracts in 2013 due to higher neem extracts production in the region. However, Europe is expected to be the fastest growing market for neem extracts by 2019 due to growing demand for natural/ organic products in the region.

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Rising demand for bio-fertilizers and bio-pesticides is expected to drive the growth of the global neem extracts market. Furthermore, the growth is expected to be supported by widening applications of neem extracts in the personal care toiletry and pharmaceutical industry.

European countries such as Germany, France, Spain, Italy and United Kingdom are witnessing considerable demand for organic/natural products. Moreover, these countries are undertaking organic farming at larger scale compared to other countries in the world. By application, chemicals and fertilizer segment is the largest segment of this market. Neem is primarily used as a bio-pesticide and bio-fertilizer in agricultural applications. However, rising awareness about the health benefits of neem extracts would increase its usage in personal care segment at a rapid pace followed by pharmaceuticals. Moreover, over the next six years, the application of neem extracts in animal feed and pet care is expected to witness substantial growth.

Geographically, Europe is expected to experience robust growth in the coming six years followed by North America. Asia Pacific accounted for largest market share in 2013. Although Asia Pacific is expected to continue its dominance in the neem extracts market, however fast growth in Europe and North America would curb its market share by 2019. In Asia Pacific, India is the largest producer and consumer of neem extracts at present, however robust growth in China’s neem extracts production would pose significant challenge to India during the forecast period.

The global neem extracts market is highly fragmented accounting for large number of firms operating in this field. Most Indian companies export neem extracts to end users in Europe and North America. Some of the leading market players in neem extracts market are EID Parry India Ltd, Parker Biotech Pvt Ltd and PJ Margo Pvt Ltd.

The neem extracts market has been segmented as follows for better understanding and to formulate winning strategies for the market players

Neem Extracts Market by Applications

The different applications of neem extracts in industries covered under this research study are defined as follows:

Personal care
Pharmaceutical
Chemicals and Fertilizers
Animal Feed and Pet Care
Others

Global Neem Extracts Market by Geography

The geographies covered under this research study are as follows:

North America
Europe
Asia Pacific
Rest of the World

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This release was published on openPR.