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Neem Extract Global Market Report 2024 Market Strategies 2024-2033 | Size, Insights, Outlook
Neem Extract Global Market Report
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According to The Business Research Company's, 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 Drivers and Trends:
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.
Product innovations are a key trend gaining popularity in the neem extract market. Major companies operating in the neem extract market are developing new products to sustain their position in the market. For instance, in May 2021, Nisarga Biotech Pvt. Ltd., an India-based biotechnology business, launched Nisarga Neem Capsules, a successful preventative treatment for COVID-19. The study was peer-reviewed and approved by the Journal of Alternative Therapies in Health and Medicine in the United States, and it is listed as legitimate, authentic original research on the US government website PubMed. The clinically validated and patented Neem pills use the ancient herb's anti-inflammatory characteristics to promote the body's natural immune response and disease resistance. This product enhances immunity and functions as a cleanser and blood purifier for general health.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
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
Neem Extract Market 2024 Key Insights:
• 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%.
• Neem Extract Market Thrives On Surging Demand For Natural And Chemical-Free Products
• Neem Extract Market Surges With Cutting-Edge Product Developments
• Asia-Pacific was the largest region in the global neem extracts market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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