Selbyville, Delaware, Oct. 17, 2024 (GLOBE NEWSWIRE) — Neem Extracts Market was valued at USD 2.13 billion in 2023 and is projected to be worth USD 4.69 billion by the end of 2032, as per a recent study by Global Market Insights Inc.
This expansion is largely driven by the growing preference for natural and organic products, as neem extracts offer versatile benefits across multiple industries, including pharmaceuticals, nutraceuticals, and agriculture. Neem leaf extracts, rich in bioactive compounds like azadirachtin, are particularly sought after for their medicinal and pesticidal properties, making them a favored choice for addressing health and environmental challenges.
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As the market trend shifts toward natural and plant-based solutions, neem extracts are becoming increasingly popular among consumers. The demand for neem leaf extracts, in particular, is rising due to their strong efficacy and high concentration of active compounds. This shift in consumer preference not only supports market growth but also encourages innovation in extraction techniques and product development, solidifying neem extracts as a sustainable option in the health and wellness landscape.
In the broader neem extracts market segmentation, leaf extracts held the largest market share in 2023, with a value of USD 1.05 billion, and are forecasted to reach USD 2.36 billion by 2032. Their dominance is attributed to their bioactive richness and ability to address various health conditions while offering effective pest control solutions in agriculture. The versatility and widespread availability of neem leaf extracts enhance their appeal, supporting their substantial presence across numerous sectors.
In terms of application, the neem extracts market from pharmaceuticals and nutraceuticals held a 40% market share in 2023 and are expected to see significant growth by 2032. This segment benefits from the increasing consumer interest in natural remedies and preventive healthcare, with neem extracts valued for their therapeutic properties. The demand for natural supplements is also growing as consumers look for alternatives to synthetic options. Supportive regulatory frameworks for herbal products further strengthen the position of neem extracts in pharmaceutical applications.
Direct sales accounted for 39% of the neem extracts market in 2023 and are projected to grow considerably by 2032. This channel enables stronger connections with consumers, fostering loyalty through personalized marketing and direct communication. The rise of e-commerce also makes direct sales more accessible, enhancing their relevance as consumer interest in natural products continues to grow.
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Asia Pacific led the neem extracts market in 2023, driven by the region’s deep-rooted knowledge of neem’s applications in medicine and agriculture. Growing consumer awareness and demand for organic products further contribute to the region’s market leadership, which is expected to persist as interest in natural solutions expand globally.
Neem Extracts Market Players
Companies including Agro Extracts Limited, EID Parry Ltd, Fortune Biotech Ltd, Gramin India Agri, BusiNest, GreeNeem Agri Pvt Ltd, Neeming Australia, Ozone Biotech, Parker Biotech Private Limited, PJ Margo Pvt. Ltd, Trifolio-M GmbH are some firms working in neem extracts industry.
The neem extracts market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue and volume (USD Billion) (Kilo Tons) from 2021 to 2032, for the following segments:
Market, By Type
- Leaf extracts
- Fruit & seed extracts
- Bark extracts
Market, By Application
- Pharmaceuticals and nutraceuticals
- Agriculture and farming
- Food and beverages
- Others
Market, By Distribution Channel
- Direct sales
- Retail stores
- Online retailers
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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