Europe Neem Extract Market Overview, Application, Development, Growth and Demand Forecast, 2012-2022
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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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. EPA has
recently issued registrations to two new types of cold pressed neem oils,
namely, TER-TRU1 and TER-CX1. 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.
Some of 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.
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