Neem extracts are derived from neem seed, leaves, and bark, and are used in a variety of products across the agriculture, cosmetics, and pharmaceutical sectors. Neem possesses a number of medicinal properties because of which it is an ideal ingredient in several organic products.
Growing awareness about the side effects related to extensive use of chemical-based personal care products such as soaps, shampoos and cosmetics which includes artificial components, and adoption of bio fertilizers are some of the factors that foster the growth of the neem extract market. The neem extract market is bifurcated on the basis of application and geography. In 2015, Asia-Pacific was the highest revenue-generating region in the global neem extracts market.
Increased research and development in the field of neem has resulted in increased awareness. Because of the usefulness of various sections of the neem tree, it has become a significant ingredient in a variety of organic food and cosmetic goods. The increase is mostly related to greater consumer awareness about the negative consequences of chemical-based personal care products, which has led to a shift toward organic products. The pharmaceutical segment, which accounted for around 8.9 percent of the market in 2015, is predicted to rise by double digits during the analysis period, owing to customers' growing preference for Ayurveda and natural treatment of ailments without side effects.
In 2018, Asia Pacific accounted for a sizable portion of the global neem extracts market. Rising preference for natural products over chemical-based cosmetics, as well as significant growth in the region's personal care industry, are some of the primary drivers of market growth. According to the ITA - International Trade Administration, Japan is one of the world's major markets for personal care products. According to the ITA, the Japanese cosmetics market was worth US$ 13,208 in 2015.
Key players operating in the global neem extracts market include E.I.D. Parry Ind. Ltd., Godrej Group, Agro Extract Limited, Neeming Australia Pty Ltd., ITC Limited, W R Grace & Co., Margo Pvt. Ltd., Ozone Biotech Pvt. Ltd., GreeNeem Agri Pvt. Ltd., Nimbarka, The Indian Neem Tree Company, Bayer AG, Bros India Group, Fortune Biotech Ltd, Certis USA LLC, Terramera Inc., and American Vanguard Corporation
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