The neem extract in the report refer to oils, pastes, powders, cakes and other related products obtained through leaves, seeds, fruits and barks of the neem tree.
The report excludes the finished neem products such as fertilizers, pesticides, and personal and animal care products.
Key findings of Neem Extract Market:
- The neem extract market is export-driven, where large percentage of the needs are catered by a small group of countries
- Neem extract market is expected to witness significant growth in agriculture segment, especially bio-pesticides during the forecast period
- The European market is expected to be the key growth driver for neem extract market during the forecast period
- Brazil and Spain are expected to generate significant demand for neem extract during 2014-2020
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The global neem extract market 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.
Many of the Asia-Pacific countries such as China, India, and Philippines use large amount of bio-based fertilizers made from crop and animal waste. However, neem based fertilizers and pesticides account for a small portion of the total agro-supplements in many of the countries in the region. With a vast access to neem plantation in the region coupled with growing awareness of people about the benefits of neem in agriculture and livestock feeding, these countries lay significant opportunities for neem extract market in the medium and long term
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.
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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 the farmers to use bio-based farm products. This has led to a significant increase in the 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, wherein people are preferring products with organic label due to which retailers are increasing the percentage of organic products in their shelves.
Major Competitors: Some of the major competitors in the market include E.I.D-Parry (India) Limited, P.J. Margo Pvt. Ltd., Neeming Australia Pty Ltd., Agro Extract Limited, Ozone Biotech Pvt. Ltd., GreeNeem Agri Private Ltd., Fortune Biotech Ltd., Parker India Group, The Indian Neem Tree Company, and Bros India Group
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