The neem extract market grew from $2.66 billion in 2023 to $3 billion in 2024, reflecting a CAGR of 12.9%. Historical growth was driven by traditional medicinal uses, agriculture, and cosmetics. The market is expected to reach $4.89 billion by 2028, with a CAGR of 13.0%. Key drivers include personal care demand, organic farming, and nutraceutical expansion. Trends include herbal product support, functional foods, and sustainability focus.
Major Driver In The Neem Extract Market
The escalating demand for organic products is propelling the growth of the neem extract market, given neem extract's versatile applications across agriculture, personal care, medicinal, and animal feed sectors. Neem extract, renowned for its antibacterial and antifungal properties, aligns perfectly with the preferences for natural and organic ingredients. Notably, organic product sales in the US, reported by the U.S. Department of Agriculture in December 2022, reached $11.2 billion in 2021, marking a 13% increase from 2019. This surge in demand underscores the growing significance of neem extract in organic product formulations, driving market expansion in 2023, 2024, and beyond.
Request A Free Sample Of The Global Neem Extract Market Report
Neem Extract Market Competitive Landscape
East India Distilleries Parry Limited, Reddy International, Neeming Australia Pty Ltd., Parker Hannifin India Private Limited, Bros India Group, Gramin India Agri BusiNest, Agro Extracts Limited, Fortune Biotech Ltd., The Indian Neem Tree Company, Ozone Biotech, PJ Margo Pvt Ltd., Trifolio-M-GmbH, GreeNeem Agri Pvt Ltd., Neem India Products Pvt Ltd., Phyto Life sciences Pvt Ltd., Green Earth Products Pvt Ltd., Ichimaru Pharcos Co Ltd., Greenchem Biotech, Sunrise Agriland Development & Research Pvt Ltd., Unjha Ayurvedic Pharmacy, Herbo Nutra Extract Private Limited, APEX INTERNATIONAL, MRIDA GREENS & DEVELOPMENT PRIVATE LIMITED, YAXON BIOCARE Pvt LTD., AYUSH HERBALS & HEALTHCARE PRIVATE LIMITED, Herbal Creations, Eisai Pharmaceuticals India Pvt Ltd, GSK Exports and Imports, Cymbio Pharma Pvt Ltd, Truzt Organic, Quimico, Ally Matthan Creations Pvt Ltd
Key Neem Extract Market Trend
Product innovations are a key trend gaining popularity in the neem extract market. Major companies operating in the neem extract market are developing new products to sustain their position in the market. For instance, in May 2021, Nisarga Biotech Pvt. Ltd., an India-based biotechnology business, launched Nisarga Neem Capsules, a successful preventative treatment for COVID-19. The study was peer-reviewed and approved by the Journal of Alternative Therapies in Health and Medicine in the United States, and it is listed as legitimate, authentic original research on the US government website PubMed. The clinically validated and patented Neem pills use the ancient herb's anti-inflammatory characteristics to promote the body's natural immune response and disease resistance. This product enhances immunity and functions as a cleanser and blood purifier for general health.
Get The Full Global Neem Extract Market Report
Neem Extract Market Segmentation
The neem extract market covered in this report is segmented –
1) By Type: Leaf Extract, Fruit And Seed Extract, Bark Extract
2) By Formulation: Dry, Liquid
3) By Application: Food And Beverages, Pharmaceutical, Nutraceutical, Personal Care And Cosmetics, Agriculture And Farming, Other Applications
By Geography:The regions covered in the neem extract market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the global neem extracts market in 2023.
The Neem Extract Global Market Report 2024 furnishes information about the global neem extract market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
