The global neem extract market size reached US$ 1.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.4 Billion by 2028, exhibiting a growth rate (CAGR) of 10.33% during 2023-2028.
Neem extract is a yellow-brown colored plant oil extracted from the barks, leaves, roots, flowers, fruits and seeds of the tree. It is a strong antioxidant and antimicrobial agent that aids in countering free radicals to reduce inflammation and neutralize bacteria, viruses and fungi. It also aids in reducing blood sugar levels, minimizing the risks of developing leprosy, eye disorders, diabetes, ulcers on the skin and in the digestive tract and preventing plaque formation in the mouth. It is also widely used as an effective pest-repellant and as fertilizer in plants to provide protection against soil pests and diseases. The extract is added to various dental care products, such as toothpaste, mouthwashes and tooth powders, cosmetics and hair care products to prevent skin allergies, dandruff and lice.
Neem Extract Market Trends:
- Significant growth in the pharmaceutical industry across the globe is one of the key factors creating a positive outlook for the market. Neem extract is commonly added to nutraceuticals and dietary supplements to reduce blood clotting, cholesterol and blood pressure levels in the body. Moreover, the increasing consumer awareness regarding the side effects of chemical-based products and rising adoption of bio-based extracts and essential oils are providing a thrust to the market growth. This has further led to the increasing adoption of neem leaf, bark, fruit and seed extracts to manufacture premium-quality personal care products, such as shampoos, styling gels, fairness creams, body lotions and hand creams, to minimize frizz, acne, blemishes and redness on the skin. Additionally, the launch of innovative neem-based fertilizers and pesticides to organically cultivate fruits and vegetables is acting as another growth-inducing factor. Neem extracts are also added to livestock feed as an anti-helminthic and antihyperglycemic agent to prevent diseases and infections in the animals. Other factors, including significant improvements in the extraction technologies, along with the increasing expenditure capacities of the consumers, are anticipated to drive the market toward growth.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each sub-segment of the global neem extract market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type and application.
Breakup by Type:
- Seed Extract
- Leaf Extract
- Bark Extract
Breakup by Application:
- Personal Care Products
- Animal Feed
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
- The competitive landscape of the industry has also been examined along with the profiles 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.
Key Questions Answered in This Report:
- How has the global neem extract market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global neem extract market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global neem extract market and who are the key players?
- What is the degree of competition in the industry?