The Global Neem Extract Market by type statistical report published by Market Research Future contains a brief overview of Global Neem Extract Market by application. The market has been segmented on the basis of application as agriculture (including biopesticide and fertilizers), health & personal care (including nutraceuticals & personal care) and animal products (including animal feed & pet care).The Global Market for Neem Extract has witnessed continued demand during the last few years and is projected to grow at a CAGR of 15.9% by 2022.
Increasing demand for bio-based fertilizers and pesticides in agriculture along with strong government and other NGO’s support in countries such as India, Russia, Vietnam, Korea, Japan and China to educate the farmers on extended use of bio based fertilizers for long term crop protection, increasing demand for herbal personal care products and increasing usage of bio-based feedstock in livestock and pest repellents for pets is driving the neem extract market. Also, growing demand of growing demand for “Azadirachtin” which is an active compound in neem oil in both developed and developing markets such as the U.S., Mexico, Australia, Singapore, Thailand, Spain, Italy, UK, India, Vietnam and China. Several campaigns in North America and Europe against genetically modified crops have been pushing regulatory authorities to encourage organic farming. Neem based agro-products have been gaining significance in western countries which is being reflected in the increasing market for Neem Extract.
Global Market Size (Volume) Share of Neem extract by applications 2012-2022
Source: Company websites, Journals, Industry websites
The Global Neem Extract Market is in the growing stage of its life cycle. The agriculture segment of Neem extract market by application is valued at USD 171.9 million in 2012, whereas health and personal care and animal products segment are valued at USD 129.1 million and USD 132.2 million respectively.
Through this report Market Research Future aims to provide understanding of the Global Neem Extract Market and assists identification of ongoing trends along with anticipated growth in the coming years. For this research extensive primary research was conducted to gain a deeper insight of the market performance. Various industry experts and Key Opinion Leaders (KOLs) were contacted from both supply side and demand side of global Neem extract market. The supply side industry experts consisted of CEOs, Directors, Marketing Managers, Sales Mangers, R&D Specialists, Country Manager, Regional Managers of Neem extract companies, Retailers, and Distributors amongst others.