Global Neem Extracts Market is
expected to reach USD 1.32 billion by 2020, according to a new study by Grand
View Research, Inc. Rising importance of biofertilizers in developed regions
including North America and Europe owing to stringent government regulations on
the use of chemical fertilizers is likely to boost neem extracts market over
the forecast period. Moreover, neem extracts are extensively used in the
manufacture of high quality herbal cosmetics and beauty products. Demand for
these products is increasing globally owing to their efficiency and low side
effects which are expected to result in high demand.
Biofertilizers constituted the
largest application, accounting for over 70% of market revenue in 2013. Growing
demand for bio pesticides and bio insecticides is likely to drive neem extracts
market over the next six years. Hostile response received from consumers on the
use of chemical fertilizers owing to environmental and health concerns are
expected to drive the neem extracts market especially in the Europe and North
America. In addition, biofertilizer growth in emerging economies including
India, China and Brazil is expected to augment neem extracts market over the
forecast period. However, lack of availability of raw materials in developed regions
owing to unfavorable climatic conditions and high prices is anticipated to
restrain neem extract market growth.
In depth research report on Neem Extracts Market
Further key findings from the study suggest:
•
Neem extract market demand in
personal care products accounted for less than 15% of market revenue in 2013.
However, the segment is expected to witness the fastest growth on account of
gaining importance of herbal cosmetics and beauty products especially in Asia
Pacific and Europe.
•
Growing demand for bio based
fertilizers in emerging markets of India and China due to rising health
awareness coupled with environmental concerns is expected to have a positive impact
on neem extract market in the near future.
•
Asia Pacific was the largest
neem extract market, accounting for more than 40% of global revenue in 2013.
Increased R&D expenditure by health care companies towards new technology
development coupled with increasing use of neem based products in North America
and Europe is expected to augment market demand.
•
Europe is expected to witness
growth on account of increasing adoption of neem based fertilizers and herbal
beauty products in the personal care segment.
•
Key market participants include
E.I.D Parry India Ltd., Agro Extracts Ltd, Ajay Bio-Tech Ltd, Kancor Flavors
and Extracts Ltd and Neeming Australia Pvt. Ltd. Global market for neem
extracts was highly fragmented due to the presence of numerous companies
especially in Asia Pacific. Product innovation and strategic alliances with
application users are expected to be critical success factors for market
participants. Raw material availability in China and Brazil is expected to open
new market avenues over the next six years.
For the purpose of this study,
Grand View Research has segmented the global neem extracts market on the basis
of application and region:
Global Neem Extracts Application Outlook (Revenue, USD
Million, 2013 - 2020)
•
Pharmaceuticals
•
Personal care
•
Biofertilizers
•
Animal feed
•
Others
Global Neem Extracts Regional Outlook (Revenue, USD
Million, 2013 - 2020)
•
North America
•
Europe
•
Latin America
•
Asia Pacific
•
MEA
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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