In the recent decades, Neem has gained a lot of attention from around the world mostly owing to the growing alertness regarding the adverse effects in the agricultural sector of the synthetic chemicals. The rising usage of neem extract as a bioactive constituent in fertilizers for the protection of grain, increasing usage of neem oil in fungicide, insecticide, and pesticides. The worldwide neem extract market was priced at USD 721.3 million in 2015 and is projected to achieve USD 1,882.9 million by 2021, and develop at a 17.3% CAGR between 2016 and 2021.
The increasing inclination toward natural treatment of diseases and Ayurveda, the rising requirement for personal care products domain are few of the important factors that are contributing to the positive growth of the neem extract market. On the other hand, the reducing plantation of neem and shortage of accessibility of raw substances in the developed countries is anticipated to impede the growth of the market in the near future. Nevertheless, the growing inclination toward the organic food is expected to bring up new growth avenues for the market in the near future.
The worldwide neem extract market is segmented into pharmaceutical, personal care, agriculture, animal feed, and others. The agriculture segment leads the neem extract market with almost a share of 72% of total revenue produced in 2015. The rising requirement for biopesticides and biofertilizers around the world is the major factor positively influencing the growth of this segment. The personal care segment of the market is projected to experience noteworthy growth with 19.4% CAGR within the forecast period. The growth of this segment is mostly attributed to the increasing adverse effect on health because of the chemical product. The pharmaceutical segment of the market, with a market share of around 8.7% in 2015, is projected to witness considerable growth owing to the requirement of natural treatment of diseases and Ayurveda.
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The leading players in the neem extract market include E.I.D Parry India Ltd., Neeming Australia, PJ Margo Pvt. Ltd, Prithvi exports, Ozone biotech, Agro extracts limited, Parker India group, and Gramin India Agri Businest among others.
According to a study published in 2016, oral administration of nimbolide, which is terpenoid lactone obtained from the neem tree, over 12 weeks exhibits decrease in size of the prostate tumor by up to 70% and tumor metastasis reduction by up to 50%.