A new report by Reports and Data has projected that the global Bark Neem Extracts Market will achieve a value of USD 3,461.7 million by 2027. The market growth is expected to be driven by the rising awareness among consumers in developing economies of the health benefits associated with neem. Neem extract products are extensively used in the agriculture, food and beverage, personal care, and pharmaceutical industries. The growing consciousness among farmers of the harmful effects of chemical fertilizers and pesticides on plant growth and agricultural productivity has led to an increased demand for neem-based pesticides and fertilizers. The market is also expected to benefit from the growing investments made by established herbal companies in the production of high-quality herbal cosmetics. As herbal cosmetics are of higher quality and possess beneficial medicinal properties, the demand for bio-based personal care products is expected to exceed that of chemical-based products
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Top Companies Operating in the Global Bark Neem Extracts Market Report:
E.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.
Further key findings from the report suggest
- The leaf extracts segment accounted for the largest market share of the Bark Neem Extracts Market in 2019. The neem leaf extract has wide usage in the pharmaceutical industries for the manufacturing of medicines related to eye disorders, skin ulcers, cardiovascular diseases, diabetes, leprosy, gum disease, loss of appetite, and liver problems.
- The Biofertilizers held the largest market share of 43.15% in 2019 and is expected to maintain steady growth over the forecast period. The increasing awareness regarding the adverse effects of chemical fertilizers and pesticides on agricultural productivity has resulted in the growing adoption of biofertilizers for agricultural practices.
- The Asia Pacific accounted for the largest market share in 2019 and is expected to be the fastest-growing region of the Bark Neem Extracts Market over the forecast period. The availability of the raw materials and favorable climatic condition in the region is expected to drive the growth of the Bark Neem Extracts Market over the forecast period
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The global Bark Neem Extracts Market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
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
Notable Innovations for Bark Neem Extracts Market:
- Neem-based biopesticides: Neem extracts are widely used as biopesticides in agriculture, and there have been several innovations in this area. For example, researchers have developed neem-based formulations that are more effective against pests and diseases, and are also longer-lasting.
- Neem oil-based products for skincare: Neem oil is known for its antibacterial, antifungal, and anti-inflammatory properties, and has been traditionally used in Ayurvedic medicine for skincare. In recent years, there have been several innovations in the development of neem oil-based products for skincare, including soaps, creams, and lotions.
- Neem-based oral care products: Neem extracts are also effective in promoting oral health, and there have been several innovations in the development of neem-based oral care products, including toothpaste, mouthwash, and dental floss.
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