Global Neem Extracts Market Gaining Impetus from Increasing Organic Fertilizers

Market Research Future (MRFR) has published on the “Global Neem Extract Market”.

Global Neem Extract Market Highlights

The global neem extract market is categorized based on type, application, and region. Leaf extracts, bark extracts, and fruit & seed extracts are the major subsegments based on type. Based on application, pharmaceuticals & nutraceuticals, personal care, agriculture & farming, food & beverages, and others are the major segments. North America, Asia Pacific, Europe, and the Rest of the World are the major regions that are considered for the analysis of the global neem extract market.

Market Synopsis

According to the MRFR analysis, the global market for neem extract is estimated to touch USD 9.41 billion by 2032 at a CAGR of 15.09%.

Neem extract is used as medicine to treat several ailments. Azadirachtin, an active ingredient found in neem plant extract, may be effective against parasites that affect the skin and hair, including lice. Moreover, azadirachtin inhibits parasite growth and interferes with biological functions such as reproduction. Neem extract is enriched with various vital components that produce various health-beneficial properties. The nee extract is prepared from leaves, flowers, bark, and fruits and is being used in various personal care products such as toothpaste, facewash, soaps, and other products. Apart from that, neem extracts are beneficial in various health ailments associated with the kidneys and liver. Besides that, the high demand for neem extracts for the treatment of multiple diseases, along with the higher adoption of organic farming is the major growth driver associated with the neem extract market. Furthermore, favorable government policies to support organic farming, and funding and investment to promote organic farming are the major lucrative prospects for the neem extract market.

Access full report @ https://www.marketresearchfuture.com/reports/neem-extracts-market-1067

COVID-19 Impact on Neem Extract Market

The impact of COVID-19 on the neem extracts market was positive owing to the neem extracts' multi-purpose properties to treat infectious diseases and boost immunity. Moreover, in mid-2021, the Trustees of the University of Pennsylvania reported that researchers collaborated on a large multicenter study to study the effect of neem bark extract (NBE) in treating COVID-19 and found that NBE has the potential to treat COVID-19. Thus, such research studies helped the market grow at a rapid pace during the COVID-19 phase.

However, the incidence of COVID-19 created a global crisis and has hampered the economic condition of various countries. In addition, the prevalence of COVID-19 has badly impacted the commodity market in several ways. However, various government initiatives were taken to prevent the nations from post-pandemic crisis.

The impact on the production of neem extracts during the COVID-19 waves was slightly negative during the first three months. However, as people started to become aware of the immense benefit of neem extract in boosting immunity and treating severe COVID-19, the manufacturer increased the production of neem extract slowly. Production abruptly increased in the food and beverage, pharmaceutical, and nutraceutical sectors and gradually assisted the manufacturers in regaining the chain of revenue generation at the end of 2020 and 2021.

Competitive Landscape

The global neem extract market is highly profitable, for both the new players as well as existing companies. The neem extract market is considered extremely competitive with players competing, partnering, and investing heavily in research and development to gain a major share in the global market. The market is comparatively fragmented with increasing competition, surging collaborative partnerships, and various other strategic choices to achieve operational efficiency. The analysis of MRFR revealed that the major market players adopted several strategies along with innovative R&D methods for the expansion of their businesses to ensure their prominent position in the global neem extract market. These days, the major strategic steps undertaken by key companies associated with the global neem extracts are approvals, from regulatory bodies to reduce the rivalry. The major companies profiled in the analysis of the global neem extract market are Neeming Australia, Gramin India Agri BusiNest, and PJ Margo Pvt. Ltd, Agro Extracts Limited, GreeNeem Agri Pvt Ltd, Parker Biotech Private Limited, Fortune Biotech Ltd, EID Parry Ltd, Ozone Biotech, and Trifolio-M GmbH among others. Besides that, Neeming Australia has emerged as the frontrunner associated with the global neem extract market owing to its strong product offering. Furthermore, the industry is also identified by the existence of various small-scale manufacturers with old-fashioned technologies associated with production along with limited capacity, mainly in developing countries.

Segmentation

By Type

• Leaf Extracts: The leaf extracts segment accounted for the second-largest share in 2022. The leaf extract of nee has application in toothpaste as it reduces plaque. Apart from that, leaf extracts of neem are used in shampoos to prevent lice infection. Furthermore, neem leaf extracts are used in several pharmaceutical products owing to their health-beneficial properties.


• Fruit & Seed Extracts: The fruit & seed extracts segment is the leading segment with a market share of 38.3% in 2022. The segment is projected to grow with a CAGR of 61.01% in the forthcoming years owing to its azadirachtin. Though, it is present in all parts of the plant in fruits, azadirachtin is available in comparatively higher amounts.


• Bark Extracts: Neem bark is gaining higher demand among the end-use industries owing to its skin-beneficial properties. The neem bark is very effective in the treatment of various epidermal diseases such as psoriasis, eczema, and acne among others. Bark extracts are also applied to cure various septic sores, scrofula, ringworm, indolent ulcers, and infected burns. The segment is likely to grow with a CAGR of 13.89% till 2032.

By Application

• Pharmaceutical & Nutraceuticals: The pharmaceuticals & nutraceuticals held the major share in terms of market value. The neem extracts contain essential components that aid and support the health and well-being of individuals. Neem extracts are used for the treatment of various diseases associated with skin, hair, and other body problems.


• Personal Care: Neem extracts have antibacterial properties and are used in various anti-acne products. The neem extracts sourced from the leaves have positive results in face acne. Neem leaf, bark, fruits, and seed extracts are incorporated into facial gels, face packs, face wash, and serum for acne treatment and oil control. In addition, the new extracts are used in anti-dandruff shampoos for healthy hair growth.


• Agriculture & Farming: The neem is being used as a biofertilizer as it does not cause any negative impact on the environment. Neem extracts do not contain any harmful substances and are being used as pesticides to increase the yield of crops. The neem-based pesticides influence more than 300 insect species. Furthermore, the increasing trend of organic farming is also driving segmental growth.


• Food & Beverage: The nee extracts are being used in food & beverage owing to their anti-oxidant and immunity booster properties. The extracts of neem are used in functional foods and herbal teas to increase disease resistance in the body.

By Region

• North America: North America accounted for a market size of USD 502.21 million in 2022 and is expected to exhibit a 14.43% CAGR during the study period. This is attributed to the rising concern among people towards the harmful effects of chemical-based cosmetics on hair, skin, and other body parts. The maximum application of neem extract in farming in North America is in the form of fertilizers, and bio-pesticide that also provide a diversified business


• Europe: Europe accounts for a significant market share due to the favorable regulatory environment, rising health consciousness among people, increasing federal and municipal programs on forest improvement, and growing adoption of herbal goods in the region. Moreover, Spain is a seed extract user and Italy is one of the major importers of bark products. So, they are growing at a quick pace in the UK.


• Asia-Pacific: Asia-Pacific is anticipated to lead the global neem extract market over the forecast period. This is due to the favorable climatic conditions, agricultural activities in the region, and greater availability of raw materials. The increased importance given to neem by people owing to its medicinal properties is one of the factors also contributing to the growth of the Asia Pacific market. As India is one of the main exporters of neem extract, the regional market has been gaining added impetus. Asia Pacific is one of the largest regional markets owing to favorable climatic conditions, availability of raw materials, and dominant agriculture activities in the region.


• Rest of the World: The Rest of the World is segmented into the Middle East, Africa, and Latin America. The neem extract market in the above-mentioned regions is likely to witness growth due to the increasing demand for bioinsecticides or biopesticides, and the growing demand for herbal cosmetic and pharmaceutical products. Moreover, the region also shows a significant demand for neem extract.