Neem based Pesticides Market Growth Accelerated by Soaring Demand for Natural Pest Control Solutions

 


Neem based pesticides are plant-derived pest control solutions obtained from the seeds and berries of the neem tree. Neem based pesticides provide effective and eco-friendly control of various pests including insects, fungi and nematodes. Their advantages include being non-toxic to humans and having insect repellent properties. The global Neem based Pesticides Market is estimated to be valued at US$ 2.08 Bn in 2024 and is expected to exhibit a CAGR of 14.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The soaring demand for natural pest control solutions is one of the key trends driving the growth of the neem based pesticides market. Consumers are increasingly preferring organic and eco-friendly pest control products to chemical-based ones due to rising health and environmental concerns. Neem based pesticides are completely natural and biodegradable, which is increasing their popularity. This growing demand from organic farmers and home gardeners is expected to support the expansion of the neem based pesticides market over the forecast period.

Segment Analysis
The global neem based pesticides market is dominated by the wettable powder sub segment. Wettable powder formulations comprise fine powder of the neem extract which easily mixes with water and can be sprayed on the crops. It is the most widely used and affordable formulation which ensures better coverage of crops.

Key Takeaways
 The global neem based pesticides market is expected to witness high growth over the forecast period of 2023 to 2030. The market size for 2024 is estimated to be US$ 2.08 Bn registering a CAGR of 14% during the forecast period.

Regional Analysis: Asia Pacific region currently dominates the global neem based pesticides market owing to high agricultural activity in countries like India, China, Indonesia etc. India is the largest producer and consumer of neem products globally. The favorable government initiatives and policies supporting organic farming is boosting the market growth in the region.

Key players operating in the neem based pesticides market are PJ Margo Private Limited, Agro Extracts Limited,Fortune Biotech Ltd,GreeNeem Agri Private Limited,Manorama Industries Limited,Neem India Products Pvt. Ltd.,Ozone Biotech,Neeming Australia,NOW Foods,Fortune Biotech Ltd.,SUN BIONATURALS (INDIA) PRIVATE LTD.,Banyan Botanicals,Group Velocity LLC.,Parry's BIO,United Industries Corporation,Murugappa Group,The Velocity Group,Agro Extracts Limited,Certis USA LLC,E.I.D. Parry,PJ Margo Pvt. Ltd. PJ Margo Private Limited and Agro Extracts Limited have a significant market share in India.

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