Published By : 12 May 2016 | Published By : QYRESEARCH
Neem trees are extensively found in the countries of India, Bangladesh, Myanmar, Sri Lanka, Pakistan, and Malaysia. Due to the various benefits of neem, there is a significant growth of the neem extracts market. Neem has various medicinal benefits such as lowering of blood pressure and cholesterol. It also eases palpitations, reduces blood clotting, and regulates digestion. The use of neem in the pharmaceuticals sector is expected to boost the market to a large extent. A number of herbal cosmetic manufacturing companies are making use of neem in their products. Rising inclination towards herbal products is giving rise to more companies in the herbal sector, thus boosting the neem extracts market.
According to a report published by a market intelligent company, Transparency Market Research (TMR), the global neem extracts market is expected to be worth US$ 1126.8 mn by 2019. It was valued at US$ 495.6 mn in 2013 and is expected to expand at a high CAGR of 14.7% between 2013 and 2019.
Use of Neem Extracts in Bio-fertilizers and Bio-pesticides Boosts Market
The harmful effects of chemicals are being recognized across the globe and to address this issue, chemical-free pesticides and fertilizers are being increasingly preferred. Neem being an herb with highly powerful medicinal properties, have found its application in pesticide and bio-fertilizer, which is helping the growth of the neem extracts market. The stringent regulations made by government for producing fruits and vegetables in a chemical-free way, will also aid the market’s growth. On the other hand, the lack of neem extract companies in the neem producing countries is also a challenge faced by the global neem extracts market.
At Present India is the Largest Producer and Exporter of Neem Extracts
Geographically, the global neem extracts market is segmented into North America, Europe, Asia Pacific, and Rest of the World. Asia Pacific is the largest market for neem extracts. India at present, is the largest producer and exporter of neem extracts. The neem extracts market in Europe is expected to grow at a fast pace during the forecast period.