Neem Extract is an oil extracted from the seeds, and fruits of the neem. Neem is a tree in the mahogany family Meliaceae and is native to the Indian subcontinent. Neem extract exhibits insecticidal properties and is used as an herbicide, pesticide, and fungicide. Also, neem oil contains fatty acids, antimicrobial compounds, antioxidants, anti-viral, anti-inflammatory, and many different traditional uses. These compounds help fight skin infections and are beneficial for blood sugar management, hair, teeth, liver, and kidneys.
India Neem Extracts Market Forecast and Trends
Growth Drivers
Increasing Awareness about Side-Effects associated with Chemical-Based Personal Care Products Fostering the Neem-Based Products
In recent years, there are rising concerns about health, skin, and allergic issues. Consumers are more aware of the side effects of chemical products, chemical-based shampoos, soaps, and cosmetics. Thus, people are significantly adopting herbal and organic personal care products. In addition, neem extract-based shampoos, soaps, face wash, face gel, and a variety of skincare products are surging in demand. All these neem extract-based products are safe and beneficial to the body, such as helping fight acne, and dandruff, slowing down aging processes, and relieving skin allergic conditions. All these factors offer lucrative opportunities for the growth of the India Neem Extracts Market during the forecast period ( 2023-2028).
Use of Neem Extract for Bio-Based Agricultural Products
The expanding use of neem extract in agricultural activities is the main driving factor for the growth of the India Neem Extracts Market. There are rising concerns about the environment due to the extensive use of chemical fertilizers and pesticides. Neem is bio-degradable and eco-friendly, and a most accepted bio-pesticides by Indian farmers. The neem tree and its derivatives have traditionally been used in Indian Farming. Neem extract is widely adopted as an organic fertilizer and natural soil conditioner in agriculture. Also, it is used as a bio-herbicide, bio-fungicides, and bio-insecticides. This is because neem extracts and oil are sustainable pest control and prevent plants from various synthetic insecticides. This increases higher crop yield resulting in boosting the growth of the India Neem Extracts Market during the forecast period.
Restraints
Limited Manufacturing Capacity by Small-Size Neem Extracts Players
In India Neem Extracts Market, the market is fragmented with very small-sized players. The market lacks international sales. This is because the market players do not have a fixed channel for international sales, except online. which results in hindering the growth of the India Neem Extracts Market. However, herbal therapy is growing due to the campaigns and advertisements by Indian ayurvedic companies like Patanjali. This is expected to increase the growth of the neem extract in the personal care sector during the forecast period.
Impact of COVID-19 on India Neem Extracts Market.
The unprecedented COVID-19 pandemic outbreak impacted both positively and negatively the growth of the India Neem Extracts Market. The nationwide lockdown declines the economy with a complete shutdown imposed across all sectors. In the initial phase, agriculture, and pharmaceutical also faced large-scale disruptions. This negatively affected the demand for Neem Extract. However, the demand for organic food increased during the pandemic which increased the use of natural resources like neem extract products in agriculture. This resulted in fueling the growth of the India Neem Extracts Market during the forecast period (2023-2028).
India Neem Extracts Market – By Type
Based on type, India Neem Extracts Market is segmented into Seed Extract, Leaf Extract, and Bark Extract. The leaf extract segment accounts for the largest market share because of the various health benefits found in neem leaves. Also, the neem leaf extract is largely available as well as easy to extract than neem seeds and bark. Moreover, seed extract is expected to drive the market owing to its expanding usage in farming to control many insect pests. All these factors boost the growth of the India Neem Extracts Market during the forecast period ( 2023-2028).
India Neem Extracts Market – By Application
Based on application, the Indian Neem Extracts Market is segmented into Agriculture, Pharmaceuticals, Personal Care Products, and Animal Products. The agriculture segment dominates the market owing to rising soil degradation and environmental concerns. Farmers are adopting sustainable agriculture thereby, using neem-based fertilizers and pesticides. This usage is resulting in driving the growth of the India Neem Extracts Market during the forecast period.
India Neem Extracts Market – Regional Insights
Geographically, the India Neem Extracts Market is segmented into North India, West India, East India, and South India. Many farmers and producers in India are looking for cost-effective, eco-friendly, and superior options in the production of agriculture. The rising technological innovation, growing investments, and efforts to promote Neem Extracts are expected to drive the market. Moreover, the adoption of herbal beauty products, ayurvedic medicines, and organic farming is growing. Also, the eco-friendly alternative to hazardous chemical products is boosting the growth of the India Neem Extracts Market during the forecast period.
Competitive Landscape
The leading market players in the India Neem Extracts Market are Patanjali, E.I.D. Parry (India) Limited, P.J. Margo Pvt. Ltd., Agro Extract Limited, Ozone Biotech Pvt. Ltd., GreeNeem Agri Private Limited, Fortune Biotech Ltd., The Indian Neem Tree Company, Gramin India Agri BusiNest, Parker India Group, Bros India Group., Dabur, Baidyanath, Zandu and other prominent players.
The market is highly fragmented and competitive with the presence of various regional industry participants. The companies constantly launch new products with advanced features to gain a competitive edge over the market. Multinational corporations also invest in expanding their production capacities to meet the growing demand and boost their market penetration. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, joint ventures, etc., is also prominent in this market.
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