The neem extract refer to oils, pastes, powders, cakes and other related products obtained through leaves, seeds, fruits and barks of the neem tree. The global neem extract market is mainly driven by the increasing consumption of bio-based fertilizers and pesticides, especially in Europe. The rejuvenation of ayurveda-based therapy owing to campaigns and advertisements by the domestic ayurvedic companies, such as Patanjali (India), has increased the scope of neem extract in personal care domain. The increase in bio-based animal farming during the past few years is also expected to increase demand for neem extract globally. The increasing consumption of bio-based pesticides and fertilizers in the Asian countries is laying growth opportunities for the neem extract market. However, the restraints for the growth of market include less concentration of neem plantations in non-Asian countries and negative opinion of certain people about the safety profile of neem-based health products.
Geographically, North America is one of the major consumers of neem based products. North America finds largest use of neem extracts in agriculture in the form of bio pesticide and fertilizers. Biopesticides are used in North America for organic farming, vegetable farming, orchard crops and berries; and federal and municipal programs on the treatment of forestry. Vegetable farming accounts for the largest consumption of neem extract based bio pesticide in U.S. Besides U.S., Neem extracts are used in Canada, Mexico and other small countries such as Haiti, Dominican Republic and Nicaragua.
The major players operating in the global neem extract market include Neeming Australia Pty Ltd., E.I.D. Parry (India) Limited, Agro Extract Limited, P.J. Margo Pvt. Ltd., GreeNeem Agri Private Limited, Ozone Biotech Pvt. Ltd., The Indian Neem Tree Company, Fortune Biotech Ltd. and Bros India Group. Other key players include Certis USA LLC, Bayer AG, Certis USA LLC, American Vanguard Corporation, Terramera Inc., Grupo Ultraquimia and Bioneem Technology Industria e Comercio Ltda.