Personal Care Segment in Neem Extract Market would Exhibit the Highest Growth Rate
Neem Extract Market Offerings—Source to Myriad Medicinal Products
Neem leaf—one of the most versatile natural products on the globe—is source to a plethora of medicinal properties; it has vast benefits in the treatment of a range of skin diseases, and is used against various types of cancer. The neem tree is considered to include at least 130 different biologically active compounds; it forms an ideal ingredient in several organic products and is powerful anti-bacterial ingredient. As neem tree is a source of several bio-based pharmaceutical products, the neem extract market is fast emerging across regions.
Agro-Based Products to Grow Rapidly In Neem Extract Market
Neem tree abundantly found in Asian countries such as India and China leads to neem extract market being an import-led market; some the major importing countries include U.S., Vietnam, North Korea, Spain, and Italy. Asia-Pacific countries such as China, India, and Philippines use copious amounts of bio-based fertilizers made using crop and animal waste; however, neem based agro-products account for only a small portion of the total agro-supplements in the region.
Mounting concerns about environmental degradation across regions have led to the adoption of organic fertilizers and pesticides in agriculture; this maintains the quality of soil and prevent harmful effects of synthetic pesticides. As per a recent report by Allied Market Research titled “World Neem Extract Market - Opportunities and Forecast, 2015 – 2022”, the neem-based agriculture products segment is expected to grow rapidly, with a CAGR of 16.6% during 2016-2022.
Presence of vast swathes of neem plantation in these regions along with growing awareness of about the potential benefits of neem in agriculture and livestock feeding, the region offers abundant growth opportunities in the market along the forecast period.
Strategic Landscape in Personal Care Products & Pharmaceuticals
Personal care neem based product is another segment that is fast evolving as a viable non-toxic alternatives to skin care. Neem extracts such as neem seeds and neem oil has a wide range of applications: various formulations made from these neem extract are available in the market as natural skin cleanser, natural exfoliate, and daytime moisturizer. They cater to both men and women. In February, Himalaya Drug Company, hit the neem extract market with campaign 'Men Hate Pimples Too' which is claimed to treat a range of skin infections, rashes, pimples and dark spots. Many other cosmetic care product manufacturer are finding ample opportunities to capitalize on neem extract market by launching skin-care essentials under different brand names.
Recent researches in Ayurveda confirms potential benefit of neem extract to treat highly lethal pancreatic cancer. Last month, a team of researchers including Indian-origin scientists, revealed that nimbolide is an active molecule isolated from Neem tree is helpful to stop pancreatic cancer’s growth thus preventing metastasis of pancreatic cancer; this can be effected without having any side effect on the healthy cells in the body. Such findings have led to significant growth opportunities of the market in the pharmaceutical segment.
Major market players have adopted expansion and partnership as key strategy expand their market presence. Key companies profiled in the report are E.I.D Parry India Ltd., The Indian Neem Tree Company, Neeming Australia Pvt. Ltd., Ozone Biotech, Bros India Group, Agro Extracts Limited, Parker India Group, and Fortune Biotech Ltd.