Neem products Market - Emerging niche Segments and Regional Industry Insights
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Rising anti aging formulated product for growing aging population and changing lifestyle is booming the demand for neem based natural products. In addition, rising number of retail stores and the strong retail network is also fueling the growth of the market. This factor is expected to have a strong impact on neem product market during the forecast period. Moreover, Asia Pacific held the leading position in neem product market owing to the steady growth in retail sales driven by the huge population in the region and is anticipated to hold its position during the forecast period from 2017 to 2025. Moreover, chemical pesticides act on specific pests where, neem based pesticides helps in managing all pests and has no Kunnumkal claimed, toxicity adding that it doesn’t leave any residue on plants or soil. Globally, the demand for nature-based pesticides is on the rise with increased environmental awareness and the pollution potential and health hazards from many conventional pesticides.
Neem products are used as an ingredient in skin care, oral care, hand care and others products in order to avoid the harmful effect of chemical ingredient. Rising aging population is driven the neem products market globally due to their rising preference of natural products in their daily life over synthetic products. Consumers prefer using anti aging creams and different skin care lotions, hand care and oral care products which is driving the growth of the neem based products market worldwide and is expected to have a significant growth during the forecast period 2017- 2025.
Natural ingredients based cosmetics products are stimulating the growth of the overall neem products market. In order to improve sales, cosmetics products manufacturing companies have started to invest capital in new products containing natural active ingredients to meet the changing consumer requirements. This factor is expected to provide a boost for the overall neem products market.
The global neem products market is segmented by application, by form and by region. On the basis of different application of neem products market is segmented into skin care, oral care, hand care, dietary supplements, insect repellent and pesticides. In terms of form type the market of neem products is segmented by powder, liquid and semi liquid.
In the region wise study the global neem product market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. Asia Pacific is showing the fastest growth owing to the huge production of neem based products, availability of raw materials and emerging economics such as India and China. Europe is expected to have a significant market share during the forecast period from 2017 to 2025. The market share of Europe is high mainly due to the rise in demand for natural skin care and oral care products. Brazil has shown an impressive growth in neem product market followed by Latin America in recent years. Rapid urbanization from developed and developing countries is also resulting to the growth of global neem product market.
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The global neem products market is marked by some intense competition from the major players operating in this field. Frequent merger and acquisition joint venture and partnership product innovation and geographical expansion are some of the major strategies adopted by this players to ensure long term sustenance in this marketKey participants in the global neem products industry include Neem Aura Naturals, Certis USA LLC., Organeem LLC, Terramera, Inc. and Organix South Inc. among others.
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