As per the latest report by IMARC Group, titled "Neem Extract Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global neem extract market size reached US$ 1.3 Billion in 2022. Neem extracts, derived from the versatile neem tree (Azadirachta indica), are native to the Indian subcontinent, and their extracts are created through a meticulous process. They are obtained from various parts of the tree, including the leaves, bark, and seeds. Each component contains a diverse range of bioactive compounds that contribute to the extract's medicinal properties. Neem leaf extracts are rich in antioxidants and are often used in traditional medicine to boost the immune system and support overall well-being. Neem bark extracts, on the other hand, possess potent anti-inflammatory properties and are utilized in treating various ailments, including arthritis and gastrointestinal disorders. The key components of neem extracts include nimbin, nimbidin, azadirachtin, and gedunin, which possess potent antifungal, antibacterial, and anti-inflammatory properties. The advantages of neem extracts are manifold. Due to their antibacterial and antifungal properties, they are widely used in formulating skin care products such as soaps, creams, and lotions. Neem extracts help combat acne, soothe irritated skin, and promote a healthy complexion. Moreover, these extracts have proven efficacy against various oral health issues, such as gingivitis, plaque, and cavities, making them valuable additions to oral care products like toothpaste and mouthwash. They are also renowned for their insecticidal properties, due to which they are extensively employed in organic pest control in the agriculture sector.
Global Neem Extract Market Trends:
The global neem extract market is primarily supported by the burgeoning demand for organic and natural products across various industries, including agriculture, healthcare, and personal care. Neem extract is known for its numerous therapeutic properties, making it a preferred choice in pharmaceutical and healthcare applications. Moreover, the rising awareness about the harmful effects of synthetic chemicals and pesticides has led to a shift towards eco-friendly alternatives, such as neem extract, which is creating a positive outlook for the market. Additionally, the expanding agricultural sector has fueled the demand for neem extract as a biopesticide and organic fertilizer, which is contributing to the market growth. In line with this, the shifting inclination towards herbal and natural cosmetics and personal care products, coupled with the inflating disposable income of consumers, is creating a positive outlook for the market. Furthermore, the increasing prevalence of insect-borne diseases, such as malaria and dengue, has accelerated the adoption of neem extract-based insecticides and repellents for public health purposes, which, in turn, is propelling the market growth. Other factors, such as government initiatives promoting sustainable agriculture, the development of innovative neem-based products, and the expansion of distribution networks by market players, are providing an impetus to the market growth. Looking forward, the market value is projected to reach US$ 2.4 Billion by 2028, expanding at a CAGR of 10.33% during 2023-2028.
- By the type, the market is segmented into seed, leaf, and bark extracts.
- Based on the application, the market is segregated into biofertilizers, personal care products, pharmaceutical, animal feed, and others.
- On the basis of the region, the market has been categorized into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined with some of the key players being Agro Extracts Limited, Bros India Group, E.I.D. - Parry (India) Limited, Fortune Biotech Ltd., Gramin India Agri BusiNest, GreeNeem Agri Pvt Ltd., Neem India Products Pvt Ltd., Neeming Australia Pty Ltd, Ozone Biotech, PJ Margo Pvt. Ltd., TechnoServe Inc. and Trifolio-M GmbH.
|Base Year of the Analysis
||Type, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Agro Extracts Limited, Bros India Group, E.I.D. - Parry (India) Limited, Fortune Biotech Ltd., Gramin India Agri BusiNest, GreeNeem Agri Pvt Ltd., Neem India Products Pvt Ltd., Neeming Australia Pty Ltd, Ozone Biotech, PJ Margo Pvt. Ltd., TechnoServe Inc. and Trifolio-M GmbH
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