India Neem Extract Market to Grow at a CAGR of 11.3% until 2028

Published | 03 August 2022

India Neem Extracts Market is gaining significant traction owing to the rising adoption of eco-friendly, bio-based fertilizers and pesticides in agriculture along with the increased research and development about neem extract usage and its benefits.

A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the India Neem Extracts Market is estimated to grow at a CAGR of 11.3% by the end of 2028. The significant growth of the India Neem Extracts Market is attributed to the rising awareness of people regarding the advantages of neem extracts in livestock feeding and agriculture. Also, the growing research and technological advancement, and various advantages of neem extract such as improving soil contamination and reducing the environmental pollution. Moreover, the rising adoption of neem extract in pharmaceuticals due to its antioxidant, anti-inflammatory, anti-microbial, and wound healing properties is driving the market. In addition, neem extract is widely used in dental care products to prevent cavities and gum diseases. Furthermore, India Neem Extracts Market is one of the most booming markets that grow continuously owing to the fast advantages and integration of new technologies like the Internet of Things (IoT), artificial intelligence (AI), cloud computing, and others. In recent years, people are more concerned about their health and skin. Therefore, there is a surge in demand for herbal neem-based shampoos, soaps, and other beauty products in the country. To meet this demand many market players are increasing neem extract as an ingredient in skincare products. Also, neem has been proved to have multiple benefits for humans and animals. Thus, neem extract can be used to treat ailments in dogs, cats, and other animals. This creates a lucrative opportunity for the India Neem Extracts Market during the forecast period.  In addition, neem extract is essential in agriculture to reduce the growth of bacteria, and fungi. Thus, enhancing plant growth and increasing crop yield thereby, obtaining economic benefits for farmers.

Also, various market players are increasing the production of innovative neem extract fertilizers, and pesticides in the market. However, some factors like the lack of a manufacturing capacity by small-size neem extract players act is a major restraining factor for the growth of the India Neem Extracts Market. Moreover, some neem extracts like leaf extract, seed extract, and bark extracts are very popular in pharmaceuticals and agriculture in India. The demand for neem leaf extract is surging owing to its various health benefits and antibacterial properties to improve skin infections. Due to all these factors, the India Neem Extracts Market is anticipated to flourish during the forecast period (2022-2028).

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Based on type, India Neem Extracts Market is segmented into Seed Extract, Leaf Extract, and Bark Extract. The leaf extract segment dominates the market owing to the wide availability of neem leaves which is easy to extract and increase neem extract production. Moreover, seed extract is expected to drive the market owing to its expanding usage in farming to control many insect pests. Based on application, the India Neem Extracts Market is segmented into Agriculture, Pharmaceuticals, Personal Care Products, and Animal Products. The agriculture segment dominates the market owing to the rising trend for organic farming thereby, increasing the use of bio-based fertilizers and pesticides. All these factors are resulting in driving the growth of the India Neem Extracts Market during the forecast period.

Geographically, the India Neem Extract 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. The unprecedented COVID-19 pandemic outbreak negatively impacted the growth of the India Neem Extracts Market. In the initial phase, the agriculture and pharmaceuticals value chain also faced large-scale disruptions. This negatively affected the Indian economy thereby hampering the demand for biostimulants. However, post the COVID-19 pandemic, there is a surge in demand for organic neem-based Agri products to increase the food quality.

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, Zandu, Baidyanath 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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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the India Neem Extracts Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the India Neem Extracts Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

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