The global neem extract market is expected to grow at a CAGR of 16.3% during 2016 - 2022. Among the various segments, seed extract dominated the global neem extract market in 2015.
The global neem extract marketmarket is booming due to the growing interest of people towards bio-based products. Neem extract is an import-led market, mostly dependent on exports from the Asian countries such as India.
The key importers from India are U.S., Vietnam, North Korea, Spain, and Italy. Globally neem extract is used in three broad application areas, including agriculture, health and personal care, and animal products; where agriculture dominated the market in 2015.
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The increasing concern of people and regulatory authorities towards harmful effects of chemical-based fertilizers and pesticides on human health has been compelling farmers to use bio-based farm products. This has led to significant increase in demand for bio-based fertilizers and pesticides.
Following the effect, the demand of neem extract based fertilizers and pesticides are also escalating. The demand for organic food has also been increasing in the recent past, especially in Europe, where people are preferring products with organic label due to which retailers are increasing the percentage of organic products in their shelves.
Countries such as Spain, France and Denmark have reduced the agricultural chemical usage by about 30%. Among the Asian countries, Australia is the leading market for bio-based products, including neem extract based fertilizers and pesticides.
China and India are the other major countries in the region using neem extract based farm products. In 2016, Indian Farmers Fertilizer Cooperative Limited (IFFCO) announced a scheme under which the organization will purchase neem tree fruits from farmers to increase the production of bio based fertilizers in the country.
IFFCO itself has planted about 150,000 neem saplings in the recent years. The Indian government has also made it mandatory to produce neem coated urea.
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Brazil and China have observed neem as a highly beneficial tree, which is leading them to invest in its plantations. While China has already started investing in neem plantations, Brazil is looking for private sector investors for the same.
This not only hints at their domestic neem extract consumption growth but also provides increasing opportunities for its international trade. With Brazil becoming one of the exporter, the import of neem extract by certain countries (such as North America) is expected to increase in the long run.
The major companies operating in the global Neem Extract market include E.I.D. Parry (India) Limited, Neeming Australia Pty Ltd., P.J.
Margo Pvt. Ltd., Agro Extract Limited, Ozone Biotech Pvt. Ltd., GreeNeem Agri Private Limited, Fortune Biotech Ltd., The Indian Neem Tree Company, Bros India Group.
Other key players include Certis USA LLC, Bayer AG, American Vanguard Corporation, Terramera Inc., and Grupo Ultraquimia and Bioneem Technology Industria e Comercio Ltda.
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