Europe Neem Extract Market Projected to Experience Major Revenue Boost During the Forecast Period

The European neem extract market will be observing a consistent growth in the coming years due to favorable regulatory environment, and increasing adoption of herbal goods in the region.

On the basis of agricultural applications of neem extract, biopesticides accounted for a larger share in the European market, than fertilizer, due to rising health consciousness among people and increasing federal and municipal programs on forest improvement.

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Spain has been the key seed extract user in Europe, while Italy is the largest importer for bark extract products. Neem based toothpaste market is growing at a swift pace in the U.K., which is leading to increased demand for neem bark extracts in the region. Neem extract imports are growing in Europe due the increasing level of awareness about the safety profile of neem.

Pesticides passing EPA evaluation under FIFRA are granted a license or registration permitting them to sell those products in the region. Neem extract is also one of the most valued herb-based raw materials in Europe. Based on azadirachtin content, neem oil is segmented into several types.

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Certain cases of aflatoxin contaminated neem oil in the recent past, as observed by the organic farming associations, have raised minor concerns about neem extract imports in the region.

In many European countries, neem is also well used as an operative pest repellent for pet animals, which drives the growth of the market due to high manufacturing of neem extract based oil.

Europe Neem Extract Market Competitive Landscape

Some of the major players operating in the European neem extract marketinclude Neem BioTech, Certis USA LLC, Terramera Inc., American Vanguard Corporation, and Bayer AG. Due to low switching cost for buyers and high industrial growth, the rivalry amongst the key players is high.