Sarasota, FL, Aug. 23, 2016 (GLOBE NEWSWIRE) -- Zion Research has published a new report titled “Neem Extract Market for Pharmaceutical, Personal Care, Agriculture, Animal Feeds and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 - 2021.” According to the report, the global neem extract market was accounted for USD 721.3 million in 2015 and is expected to reach USD 1,882.9 million by 2021, growing at a CAGR of around 17.3% between 2016 and 2021.
Neem attracted worldwide attention in recent decades mainly due to the rising awareness regarding the side effects of the synthetic chemical in the agriculture sector. The increasing use of neem extract in fertilizer as bioactive ingredients for grain protection, rising use of neem oil in pesticide, insecticide and fungicide are the factors expected to open alluring opportunities in coming years.
Browse 16 Market Tables and 28 Figures spread through 110 Pages and an in-depth TOC on "Neem Extract Market - Global Size, Shares, Trends, Segment & Forecast to 2021”
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Rising preference of Ayurveda and natural treatment of diseases, growing demand from personal care products sectors are the factors anticipated to impact neem extract market positively. On a contrary, decreasing neem plantation and lack of availability of raw material in developed countries is expected to challenge the neem extract market growth in the forecast period. Nonetheless, rising preference towards organic food is estimated to open growth opportunities for the market in coming years.
Agriculture segment dominated the neem extract market with over 72% market share of total revenue generated in 2015. The growing demand for bio-fertilizers and bio-pesticides across the globe is the key factor to prompt the growth of agriculture segment. Personal care segment is expected to experience significant growth with CAGR of 19.4% within the forecast period, this growth mainly attributed to the rising adverse effect of the chemical product on the health. The pharmaceutical segment, which accounted for around 8.7% market share in 2015, is expected to witness substantial growth due to increasing demand of Ayurveda and natural treatments of diseases.
Browse the full "Neem Extract Market for Pharmaceutical, Personal Care, Agriculture Animal Feeds and Other Applications: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021" report at https://www.zionmarketresearch.com/toc/neem-extract-market
Demand for neem extract in Asia Pacific majorly comes from the China followed by India and Japan. Huge agriculture area, availability of raw material and rising health awareness in this region are the major factors expected to fuel the demand for neem extract market in the near future. India, at present, is the largest producer and exporter of neem extracts across the globe. Asia pacific accounted almost 58% of market share in terms of revenue in 2015.
Europe is expected to witness significant growth with robust CAGR within the forecast period. Demand for organic food and herbal products are the key factors are driving the growth of neem extract market in Europe. However, the unavailability of raw material is expected to hamper the growth of this market.
North American countries are increasingly turning their focus towards organic product. Stringent government regulation against chemical fertilizers is expected to boost the demand for bio-fertilizer and bio-pesticide. This fact may lead to significant growth of neem extract market in North America. North America is one of the largest importers of neem extract.
In addition, health conscious people will fuel the growth of this market in coming years. Pharmaceutical uses of neem extract in Latin America and rising awareness regarding health in Middle East & Africa is expected to fuel the growth of neem extract market over the years to come.
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Neem extract market participants are majorly located in Asia Pacific. E.I.D Parry India Ltd., PJ Margo Pvt. Ltd, Neeming Australia, Ozone biotech, Prithvi exports, Gramin India Agri Businest, Agro extracts limited and Parker India group among others are some of the leading profiles in the neem extract market.
The report segments of the global neem extract market are as follows:
Global Neem Extract Market: Application Segment Analysis
- Personal Care
- Animal Feed
Global Neem Extract Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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