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.
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The major players operating in the European neem extract market include 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.
The European neem extract market is growing at a fast pace and is expected to continue its momentum due to rising government support in the region. The rising awareness regarding the uses of neem extract has made consumers in Europe more interested to use neem extract products for their daily needs. Agriculture industry is the largest neem extract consumer in the region that uses it in the form of pesticide and fertilizer. The EPA regulates pesticides market in the region under two laws, namely, Federal Insecticide, Fungicide and Redenticide Act (FIFRA) and Federal Food, Drug and Cosmetics Act (FFDCA).
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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. The demand of neem extract for application in nutraceutical products is higher than personal care and the same for animal feed application is higher than pet care. The United Nations has declared neem as “Tree of the 21st century” due to multiple benefits associated with it. Bio-herbicides, bio-insecticides, and bio-fungicides are different types of bio-pesticides, and neem extract products are used in all the three types.
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