Neem Extracts Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2014 To 2020
Global neem extracts market is expected to witness significant growth owing to increasing demand for organic products in personal care, agriculture and pharmaceutical industries. Rising awareness towards side-effects associated with synthetic chemicals is expected to augment neem extracts market demand in biopesticides and biofertilizers over the next six years. Stringent regulations aimed at reducing the use of synthetically derived pesticides and fertilizers are expected to play a crucial role in fueling neem extracts demand in the near future.
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Asia Pacific is expected to be one of the promising markets for neem extracts and is likely to witness growth owing to increasing demand for herbal products in China and India. Abundance availability of neem tree coverage coupled with favorable government policies to promote herbal tree plantation in India is expected to have a positive impact on market in the near future. Growing demand for neem extracts in personal care and pharmaceutical products in Germany, Italy and Spain is expected to promote neem extracts market growth. Positive personal care market outlook in Brazil is expected to open new opportunities for neem extracts market over the forecast period.
Major market participants include Parker Biotech, Agro Extracts Ltd., EID Parry India Ltd., Neeming Australia Pvt. Ltd., Ozone Biotech, PJ Margo Pvt. Ltd., GreeNeem Agri Pvt. Ltd., and Gramin India Agri Businest. In February 2015, Godrej Consumer Products Limited launched a new product “Good Knight Neem Low Smoke Coil”, to cater to customers in South India. Aforementioned development is expected to force other market players to diversify their product portfolio over the next six years.
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