Neem Oil Market Lucrative Opportunites By 2024
Neem has been a major ingredient in Ayurveda, Siddha and Unani medicines, and neem oil is specially used for treatments of hair and skin related diseases. Neem oil is extracted from the seeds and fruits of the neem tree.
The neem oil is yellow- brown in color and is very bitter in taste with a strong pungent smell. Neem oil has a mixture of components, such as omega fatty acids, azadirachtin, etc. Azadirachtin is the most active component, which is primarily used as an insect repellent.
Neem oil is an important and popular product obtained from the neem tree which is commercially available. It has various benefits and uses such as bio-pesticide, bio-fungicide, skin care additive, anti-dandruff property, insect repellent, etc. It also has other uses, such as in toiletries and veterinary medicines, cosmetics.
Neem oil is also used in a number of traditional medicines and is known to cure diseases such as leprosy, intestinal worms, skin infections, urine disorders, etc. By the ancient Vedas, the neem is known to be capable to cure every alignment and illness.
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Neem Oil Market: Segmentation
The global neem oil market can be segmented on the basis of application and region
On the basis of application, the neem oil market can be segmented into agriculture, personnel care and cosmetics, pharmaceuticals and nutraceutical. In agriculture, the neem oil is used in bio-insecticides and bio-pesticides. The neem oil has many applications in personnel care and cosmetics, as it is used in toiletries, shampoos, skin conditioner, acne control creams, antiseptics, hair oils, etc., owing to zero side effects.
In pharmaceuticals, the neem oil is used in veterinary medicines, as an anti-bacterial and anti-fungal agent, and in treatment of skin disorders, asthma, ulcers, etc. In Nutraceuticals, neem oil is used as an Herbal and Ayurvedic supplement for skincare and hair care.
Neem Oil Market: Drivers
The drivers of neem oil market can be mainly attributed to its manifold herbal and medicinal properties such as bio-pesticide, bio-fungicide, anti-dandruff, astringent, anti-bacterial, insect repellent, skincare, hair care, etc. Other factors such as its extensive uses in the traditional medicines such as Ayurveda, Unani, and etc. act as drivers for the neem oil market.
Neem Oil Market: Regional Outlook
The neem oil market, on the basis of region is segmented into Asia Pacific, North America, Europe, Latin America and Middle East & Africa. Asia Pacific has been identified as the leading producer for neem oil due to its agricultural activities and favorable climate.
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The North America and Europe neem oil market have been gaining prominence due to their strict regulations regarding the use of synthetic ingredients in cosmetics and agriculture products. Asia Pacific, on the basis of consumption and producer, will continue to hold the largest position in the global neem oil market in the near future.
Neem Oil Market: Key Players
Some of the prominent manufacturers of Neem Oil are NOW Foods, United Industries Corporation (Garden Safe), Banyan Botanicals, Neeming Australia Pvt. Ltd., Murugappa Group, Ozone Biotech, Neem India Pvt. Ltd., and SUN BIONATURALS (INDIA) PRIVATE LTD among others.
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