New York, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Neem Extract Global Market Report 2023" - https://www.reportlinker.com/p06486598/?utm_source=GNW
, The Indian Neem Tree Company, Ozone Biotech, PJ Margo Pvt. Ltd., Trifolio-M-Gmbh, GreeNeem Agri Pvt. Ltd., Neem India Products Pvt. Ltd., Phyto Life sciences Pvt. Ltd., Green Earth Products Pvt. Ltd., and Ichimaru Pharcos Co. Ltd.
The global neem extracts market is expected to grow from $2.36 billion in 2022 to $2.66 billion in 2023 at a compound annual growth rate (CAGR) of 12.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The neem extracts market is expected to reach $4.29 billion in 2027 at a CAGR of 12.7%.
The neem extract market consists of sales of nanoparticle, azadirachta indica, azadirachtin, achene, neem oil, and nematode.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Neem extract is a derivative of the neem tree, a medicinal plant whose leaves, blossoms, seeds, fruit, roots, and bark may all be used for skin diseases, septic sores, and infected burns. It is used to treat digestive ailments, liver troubles, dental issues, infections, skin concerns, hair problems, and microbial infestation.
Asia-Pacific was the largest region in the neem extract market in 2022.Western Europe is expected to be the fastest-growing region in the forecast period.
The regions covered in neem extract report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of neem extract are leaf extract, fruit, and seed extract, and bark extract.Neem leaf extract refers to the leaves of the neem tree, which is prevalent in tropical climates.
The various formulations include dry, and liquid. These are used in various applications such as food and beverages, pharmaceutical, nutraceutical, personal care, cosmetics, agriculture, farming, and other applications.
The growing demand for organic products is expected to propel the growth of the neem extract market going forward.Organic products refer to products that are created using only natural components, without the use of any artificial chemicals, hormones, antibiotics, or genetically modified organisms (GMOs).
Neem extract is utilized in various sectors, including agriculture, personal care goods, medicines, and animal feed since its unique properties such as antibacterial and antifungal properties make it a perfect component for different organic and natural products. For instance, in December 2022, according to the U.S. Department of Agriculture’s National Agricultural, a US-based government agency, organic product sales reached $11.2 billion in total in 2021, up by $1.28 billion with an increase of 13% from 2019. Therefore, the growing demand for organic products is driving the growth of the neem extract market.
Product innovations are a key trend gaining popularity in the neem extract market.Major companies operating in the neem extract market are developing new products to sustain their position in the market.
For instance, in May 2021, Nisarga Biotech Pvt. Ltd., an India-based biotechnology business, launched Nisarga Neem Capsules, a successful preventative treatment for COVID-19. The study was peer-reviewed and approved by the Journal of Alternative Therapies in Health and Medicine in the United States, and it is listed as legitimate, authentic original research on the US government website PubMed. The clinically validated and patented Neem pills use the ancient herb’s anti-inflammatory characteristics to promote the body’s natural immune response and disease resistance. This product enhances immunity and functions as a cleanser and blood purifier for general health.
In January 2022, Indorama India Private Lt, an India-based chemical firm, acquired Indo Gulf Fertilizers from Grasim Industries Limited for an undisclosed amount.With this acquisition, both firms could provide a complete variety of products to farmers, including urea, phosphate fertilizers, potash, soil health products, seeds, and crop protection items.
Indo Gulf Fertilizers is an India-based company that manufactures neem extracts with the Azadirachta Indica tree.
The countries covered in the neem extract market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The neem extracts market research report is one of a series of new reports that provides neem extracts market statistics, including neem extracts industry global market size, regional shares, competitors with a neem extracts market share, detailed neem extracts market segments, market trends and opportunities, and any further data you may need to thrive in the neem extracts industry. This neem extracts market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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