Global Neem Oil Market Size, Share, and COVID-19 Impact By Type (Leaf Extract, Seed Extract and Bark Extract), By Application (Pesticides/Agriculture, Personal Care, Animal Products, Pharmaceuticals, Pharmaceutical Industry, and Food Industry), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033

Global Neem Oil Market Insights Forecasts to 2033

• The Global Neem Oil Market Size was Estimated at USD 2.04 Billion in 2023
• The Market Size is Expected to Grow at a CAGR of around 14.26% from 2023 to 2033
• The Worldwide Neem Oil Market Size is Expected to Reach USD 7.74 Billion by 2033
• North America is Expected to Grow the fastest during the forecast period.

The Global Neem Oil Market Size was worth around USD 2.04 Billion in 2023 and is predicted to Grow to around USD 7.74 Billion by 2033, with a compound annual growth rate (CAGR) of 14.26% between 2023 and 2033.

Market Overview

The neem oil market refers to an industry that provides an organic pesticide solution that can be applied against insects, mites, or fungi that are pestering your plants. Organic gardeners appreciate how the oil is safe to apply. Neem oil is non-toxic to humans and animals, and it's safe even for most wildlife, as its insecticidal features are specific to certain pests that destroy garden plants. The neem oil industry is growing drastically as awareness regarding the health benefits of neem oil and its multifaceted usage in industries is on the rise. Moreover, the success of traditional treatments in bringing about cures with minimal pain has been believed in by the entire global medical fraternity. Sales of neem oil are being artificially fueled by the market's exploding interest in Ayurveda and Unani medicines. Furthermore, with growing demand in the beauty and personal care sector towards natural and chemical-free products, there is an immense opportunity for skincare solutions based on neem oil. Neem oil-based products such as soap, lotion, and shampoo can be expected to witness rising demand, especially given the consumer's lookout for plant-derived alternatives to synthetic chemicals.

Report Coverage

This research report categorizes the neem oil market based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyzes the key growth drivers, opportunities, and challenges influencing the neem oil market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyzes their core competencies in each sub-segment of the neem oil market.

Driving Factors

The neem oil market is driven by some major trends. The market for neem oil is growing strongly as a result of increased awareness of organic and natural products. Customers are increasingly opting for neem oil because of its sustainable and eco-friendly nature, and demand is being generated across industries. Some of the major trends are the growth of neem oil in personal care products, where its natural antifungal and antibacterial characteristics are greatly appreciated. Moreover, the agricultural industry is adopting neem oil as a biopesticide, providing a sustainable alternative to synthetic chemicals. This is propelled by increasing concern with sustainable agricultural methods and the reduction of environmental footprints. Additionally, the cosmetics industry also recognizes the importance of neem oil as an ingredient in the form of its skin-healing properties, supporting the clean beauty movement.

Restraining Factors

The neem oil market encounters certain difficulties that would restrain its development. The inconsistent supply of raw materials impacts production uniformity and price. This inconsistency is usually caused by climatic factors affecting neem tree yields. There is also limited consumer awareness of the advantages of neem oil, which limits demand expansion. Moreover, the market has regulatory issues, with different international standards for organic and natural products that can complicate trade and compliance.

Market Segmentation

The neem oil market share is classified into type and application.

• The leaf extract segment held the largest share of the market in 2023 and is projected to grow at a substantial CAGR during the forecast period.

Based on type, the neem oil market is segmented into leaf extract, seed extract, and bark extract. Among these, the leaf extract segment held the largest share of the market in 2023 and is projected to grow at a substantial CAGR during the forecast period. The segmental growth is due to leaf extracts containing antioxidants, vitamins, and minerals, which are diverse due to increased demand from various end-use industries, including personal care, pharmaceuticals, animal feed, and agriculture. The market is predicted to expand. Furthermore, increased consumer awareness of neem's health benefits, especially in developed countries.

• The pesticides/agriculture segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.

Based on application, the global neem oil market is divided into pesticides/agriculture, personal care, animal products, pharmaceuticals, pharmaceutical industry, and food industry. Among these, the pesticides/agriculture segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The growth is driven by its extensive use as a natural, environmentally friendly biopesticide due to its potent antifungal, antibacterial, and insect-repellent properties. Additionally, as awareness regarding organic farming, sustainable agriculture, and chemical-free crop protection has grown, demand for neem-based pesticides has increased worldwide.

Regional Segment Analysis of the Neem Oil Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia-Pacific is anticipated to hold the largest share of the neem oil market over the predicted timeframe.

Asia-Pacific is anticipated to hold the largest share of the neem oil market over the predicted period. This dominance is due to the rich agrarian history of the region and increasing demand for organic farming products. India, being a top producer, is cashing in on its plentiful neem tree reserves. Furthermore, rising awareness of the benefits of neem oil in pest management and crop protection propels its universal acceptance.

North America is expected to grow rapidly in the neem oil market during the forecast period. The market in the region is driven by Increased demand for natural and organic products by consumers, and strict regulations on chemical pesticides have fueled the market for neem oil in North America. Additionally, the availability of prominent neem oil producers and rising investments in research and development initiatives support the development of the neem oil market in the region.

Competitive Analysis:

The report offers an appropriate analysis of the key organization markets/companies involved within the neem oil market, along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, business strategies, segment market share, and SWOT analysis. The report also provides an elaborate analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Gramin India Agri Business
• Parker Biotech Private Limited
• Neem India Products Pvt Ltd
• Ozone Biotech
• Prithvi Exports
• Agro Extracts Limited
• Fortune Biotech Ltd
• Bhumija Lifesciences
• Manorama Industries Limited
• Brahmani Industries
• Katyayani Organics
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at the global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the neem oil market based on the below-mentioned: 

Global Neem Oil Market, By Product Type

• Leaf Extract
• Seed Extract
• Bark Extract

Global Neem Oil Market, By Application

• Pesticides/agriculture
• Personal care
• Animal products
• Pharmaceuticals
• Pharmaceutical Industry
• Food Industry

Global Neem Oil Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa