Published on : Aug 10, 2016
Neem is considered as one of the most beneficial tree, found in India and nearby regions. It is also known by the name of Azadirachta indica is gaining popularity in recent years owing to the rising awareness among the population regarding the benefits it offers. The medicinal properties present in neem extracts is one of the key factors encouraging the growth of the global neem extracts market. Some of the primary uses of neem extracts are skin diseases, spermicidal, antiarthritic, diuretic, anti-inflammatory, antibacterial, antigastric ulcer, hypoglycemic, antimalarial, reducing the risk of cancer, antifungal and insecticide, and weight loss.
The increasing number of medicinal uses of neem extracts are estimated to boost the demand for neem extracts in the next few years. The growing number of applications in diverse sectors is expected to fuel the growth of the market in the near future. Some of the key applications are personal care, chemicals and fertilizers, pharmaceuticals, animal feed and pet care, and others.
Among these applications, the chemicals and fertilizers segment is expected to hold a massive share in the overall market and remain in the leading position in the coming few years. The rapid growth of this segment can be attributed to the rising demand for bio-fertilizers and bio-pesticides in the next few years across the globe. On the other hand, the use of neem extracts in personal care products is anticipated to accelerate the development of the overall market in the next few years. This segment is projected to witness a rapid growth in the near future.
The rising demand for neem extracts across the globe has encouraged several players to enter the market and expand their product catalogue to gain the competitive advantage in the market. These players are estimated to offer innovative and new products to the consumers in order to boost their sales figures in the next few years. Some of the leading players engaged in the market are Agro Extracts Limited, Ozone Biotech, Neeming Australia Pvt. Ltd., PJ Margo Pvt. Ltd., Greeneem Agri (P) Ltd., Gramin India Agri Businest, Fortune Biotech Ltd., E.I.D Parry India Ltd, Prithvi Exports, and Parker Biotech Pvt. Ltd.