Global neem extracts market is expected to reach USD 1.32 billion by 2020,
according to a new study by Grand View Research, Inc. Rising importance of
biofertilizers in developed regions including North America and Europe owing to
stringent government regulations on the use of chemical fertilizers is likely
to boost neem extracts market over the forecast period. Moreover, neem extracts
are extensively used in the manufacture of high quality herbal cosmetics and
beauty products. Demand for these products is increasing globally owing to
their efficiency and low side effects which are expected to result in high
demand.
Biofertilizers constituted the largest
application, accounting for over 70% of market revenue in 2013. Growing demand
for bio pesticides and bio insecticides is likely to drive neem extracts market
over the next six years. Hostile response received from consumers on the use of
chemical fertilizers owing to environmental and health concerns are expected to
drive the neem extracts market especially in the Europe and North America. In
addition, biofertilizer growth in emerging economies including India, China and
Brazil is expected to augment neem extracts market over the forecast period.
However, lack of availability of raw materials in developed regions owing to
unfavorable climatic conditions and high prices is anticipated to restrain neem
extract market growth.
Global neem extracts market is expected to
witness growth on account of rising demand from various end-use industries
including personal care, pharmaceutical, animal feed and agriculture.
Furthermore, increasing consumer awareness about health benefits of neem,
particularly in developed regions, is anticipated to boost neem extracts market
over the forecast period.
Access
Research Report of Neem Extracts Market @ http://www.grandviewresearch.com/industry-analysis/neem-extracts-market
Further key findings from the study suggest:
· Neem extract market demand in personal care
products accounted for less than 15% of market revenue in 2013. However, the
segment is expected to witness the fastest growth on account of gaining
importance of herbal cosmetics and beauty products especially in Asia Pacific
and Europe.
· Growing demand for bio based fertilizers in
emerging markets of India and China due to rising health awareness coupled with
environmental concerns is expected to have a positive impact on neem extract
market in the near future.
· Asia Pacific was the largest neem extract
market, accounting for more than 40% of global revenue in 2013. Increased
R&D expenditure by health care companies towards new technology development
coupled with increasing use of neem based products in North America and Europe
is expected to augment market demand.
· Europe is expected to witness growth on
account of increasing adoption of neem based fertilizers and herbal beauty
products in the personal care segment.
· Key market participants include E.I.D Parry
India Ltd., Agro Extracts Ltd, Ajay Bio-Tech Ltd, Kancor Flavors and Extracts
Ltd and Neeming Australia Pvt. Ltd. Global market for neem extracts was highly
fragmented due to the presence of numerous companies especially in Asia
Pacific. Product innovation and strategic alliances with application users are
expected to be critical success factors for market participants. Raw material
availability in China and Brazil is expected to open new market avenues over
the next six years.
Access Press Release of
Neem Extracts Market@ https://www.grandviewresearch.com/press-release/global-neem-extracts-market
Grand View Research has
segmented the global neem extracts market on the basis of application and
region:
Global Neem Extracts Application Outlook
(Revenue, USD Million, 2013 - 2020)
·
Pharmaceuticals
·
Personal care
·
Biofertilizers
·
Animal feed
·
Others
Global Neem Extracts Regional Outlook
(Revenue, USD Million, 2013 - 2020)
·
North America
·
Europe
·
Latin America
·
Asia Pacific
·
MEA
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For More
Information: www.grandviewresearch.com
No comments:
Post a Comment