New York, NY -- (SBWIRE) -- 12/17/2020 -- Market Size – USD 1,225.3 million in 2019, Market Growth - CAGR of 14.7%, Market Trends –Increasing demand for organic foods

The global Neem Extracts Market is forecasted to reach USD 3,461.7 million by 2027, according to a new report by Reports and Data. The neem extract-based products are increasingly used in the pharmaceutical industries due to the numerous medicinal benefits offered by them. The antifungal, antioxidant, and antimicrobial properties of neem have increased its usage in the pharmaceutical industries. Moreover, the increasing incidence of eye disorders and cardiovascular diseases among the aging population has resulted in the rising utilization of neem extracts in the pharmaceutical industries. Besides, the increasing demand for organically grown food products among the health-conscious population is also a key contributing factor to the rising utilization of bio-based fertilizers for agricultural production. 

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High prices of neem products and lack of availability of raw materials in the developed regions are expected to hinder the growth neem extract market over the forecast period.

Further key findings from the report suggest

The leaf extracts segment accounted for the largest market share of the neem extracts market in 2019. Increasing awareness among the consumers regarding the adverse effects of chemical-based personal care products such as cosmetics, soaps, and shampoos has resulted in the rising demand for neem leaf extract based personal care products.

The Biofertilizers held the largest market share of 43.15% in 2019 and is expected to maintain steady growth over the forecast period. The stringent regulations of the government in developing and developed countries regarding the usage of chemical fertilizers and pesticides are expected to drive the demand for bio-based pesticides and fertilizers.

The market in Europe is expected to grow at a CAGR of 15.0% over the forecast period due to the presence of stringent regulations regarding the production of chemical-based pesticides and fertilizers.

The neem extracts market is adopting some wiser strategies in order to say competitive in between the growing demand for the products. Collaborations have been observed between prominent brands in order to increase their product portfolio and enter new markets. In order to hold the position of the products in the competitive market, companies are adopting effective marketing and branding strategies.

Key participants include I.D. Parry India Ltd., Agro Extracts Limited., Parry America, Ozone Biotech, Trifolio-M GmbH, PJ Margo Pvt. Ltd., Neeming Australia Pvt. Ltd., The Indian Neem Tree Company, Phyto Life Sciences P. Ltd., and Green Earth Products Pvt. Ltd, among others.

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For the purpose of this report, Reports and Data has segmented into the Global Neem Extracts Market on the basis of type, application, and region:

Type Outlook (Revenue, USD Million; 2017-2027)

Leaf Extract
Fruit and Seed Extract
Bark Extract

Application Outlook (Revenue, USD Million; 2017-2027)

Biofertilizers
Pharmaceuticals
Animal Feed
Personal Care
Others

Regional Outlook (Revenue, USD Million; 2017-2027)

North America
U.S.
Canada
Europe
Germany
UK
France
BENELUX
Rest of Europe
Asia Pacific
China
Japan
South Korea
Rest of APAC
MEA
Saudi Arabia
UAE
Rest of MEA
Latin America

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