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The global neem-based fertilizers market is driven by the increasing demand for bio-fertilizers and bio-pesticides across the globe. The use of chemical fertilizers and pesticides in farming results in decreasing the quality of the product and it also has harmful effects on the environment. Neem is extensively accepted as a natural product that has much to provide in solving global environmental, agricultural, and public health problems. The application of neem does not have any toxic responses, so the neem application helpful in plant management and protection which is predicted to boost the popularity of neem-based fertilizers.
The prominent players operating in the market are embarking upon the research and development of innovative products i.e. neem coated urea and neem extract containing bio-fertilizers and bio-pesticides. Neem coated urea fertilizer is a good option of nitrogen to use on all arable crops and cereals. Moreover, Neem based bio-fertilizers are economical and effective for crops such as cotton, rice, potatoes, and other horticulture crops. The increased support from the government and the launch of various programs to support the use of biofertilizers is expected to boost the demand for neem-based fertilizers.
Neem-based fertilizers are great Insect Growth Regulators (IGR) and also benefit in controlling several fungi and nematodes. They help in reducing insect’s growth in plants and crops which is projected to drive the global market of neem-based fertilizers. The addition of neem seed cake (remaining part of neem seeds after oil extraction) fertilizers to the soil will support enrichment of the soil and soil amendment, and also helps to lower nitrogen losses by hindering nitrification. Neem seed cake fertilizer is a soil enricher, it also helps to reduce the growth of soil bacteria, offers macronutrients crucial for all crop growth, and helps to rise the yield of plants in a longer period. The increasing popularity of biodegradable and eco-friendly fertilizers is anticipated to boost the demand for neem-based fertilizers. The usage of neem urea coating helps to delay the action and growth of the bacteria which causes denitrification and it also prevents the loss of urea in the soil. The multifunctional properties offered by neem coated urea products such as antifeedant and pest growth regulators are projected to drive the demand for neem-based fertilizers. Furthermore, neem-based fertilizers retain germicidal and anti-bacterial properties which are useful to keep the plants safe from different kinds of pests. One of the most important advantages of neem-based fertilizers and neem pesticides is that they do not leave any residue on the plants. These factors are predicted to drive to the global market of neem-based fertilizers.
Key Market Driver -
Increasing Demand for Bio-fertilizers
Key Market Restraint -
Low Availability of the Raw Material
The restricted geographic obtainability of neem has a major influence on the global supply of neem, limiting the overall growth of the market. The lack of availability of neem in developed regions such as North America and Europe is expected to be a major restraint for the growth of the global neem-based fertilizers market.
The prominent players operating in the neem-based fertilizers market are, Parker India Group Pvt. Ltd., Agro Extracts Limited, E.I.D. Parry, PJ Margo, Neeming Australia Pvt Ltd., Fortune Biotech, Ozone Biotech, Nikita Agro Industries, Trifolio-M GmbH., GreeNeem, and Others.
The liquid form of neem-based fertilizers is anticipated to hold a prominent share in the global market of neem-based fertilizers. The liquid formulations of the neem-based fertilizer have intensifying demand among growers owing to ease of application, convenience in the use of the product & to avoid any spoilage or wastage of the product due to contamination. However, the dry formulation of neem-based fertilizer is also gaining traction among farmers owing to the relatively long shelf life, easy transportation, and storage of the product.
Neem-based fertilizers are extensively utilized for the production of organic cereals owing to the high profitability offered by them. The farmers have gravitated towards the cultivation of staple crops such as organic cereals and pulses which are expected to boost the demand for neem-based fertilizers. Moreover, the long term use of neem-based fertilizers for the cultivation of cereals is economical, eco-friendly, and more efficient over chemical fertilizers, which is anticipated to increase the utilization of neem-based fertilizers for the cultivation of cereals. Moreover, organic fruits and vegetables are major components of a balanced diet and they consumed widely to ensure a good diet which will accelerate the demand for neem-based fertilizers for the cultivation of fruits and vegetables.
Asia Pacific is predicted to hold a prominent share in the global market of neem-based fertilizers. The favorable climatic conditions for the cultivation of neem coupled with the abundant availability of neem and dominant agriculture activities in the Asia Pacific is predicted to drive the market growth within the region. Moreover, the high-profit margin associated with the cultivation of organic crops is also predicted to be a favorable factor for market growth. The supportive government policies for the production and distribution of neem-based fertilizers are expected to drive the market within the Asia Pacific.
North America is anticipated to witness significant growth in the global neem-based fertilizers market. The rising awareness of chemical-free food, organic, and natural products within the region is predicted to boost the utilization of neem-based fertilizers. The growing number of certified farmlands coupled with the increasing investments by international giants to develop innovative and new products is anticipated to drive the neem-based fertilizers market within the region.
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