The global neem extract market is projected to grow by 15.9% by 2022 to USD 1.36 Billion due to rise in 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 opportunities for the neem extract market. The key restraints for the 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.
The global neem extract market is booming due to the growing interest of people towards bio-based products. Neem extract is an import-led market, mostly dependent on exports from the Asian countries such as India. The key importers from India are U.S., Vietnam, North Korea, Spain, and Italy. Globally neem extract is used in three broad application areas, including agriculture, health and personal care, and animal products; where agriculture dominated the market in 2013. Based on product segment, the market is categorized into seed extract, leaf extract and bark extract, where seed extract witnessed highest sales in 2013. The neem extract market is highly fragmented with very small-sized players who do not have a fix channel for international sales, except online marketplace. Some of the major competitors in the market include E.I.D. Parry, Neeming Australia, P.J. Margo, Agro Extract, and Ozone Biotech.