The global neem-based fertilizers market size is poised to undergo substantial expansion owing to the wide-ranging advantages offered by farming inputs derived from natural sources, states Fortune Business Insights™ in its report, titled “Neem-based Fertilizers Market Size, Share and Industry Analysis, By Formulation (Dry, Liquid), By Application (Cereals, Oilseeds and Pulses, Fruits and Vegetables, Others) and Regional Forecast, 2020-2027”. Bio-based fertilizers and pesticides offer a host of benefits compared to their chemical or synthetic counterparts. For example, neem cakes are highly cost-efficient as the fertilizers wrapped in them last longer, releasing nutrients until the next crop cycle commences, thus reducing costs of using new fertilizers frequently. Further, neem-based or neem-coated fertilizers improve soil health as they provide large amounts of macro and micro nutrients, which also play a key role in augmenting soil fertility. Most importantly, these fertilizers contain nortriterpenoids and isoprenoids that safeguard the crops from nematodes and other plant pathogens. The all-encompassing benefits of neem-based fertilizers are the primary reasons for their soaring popularity among farmers and agriculturists.
The outbreak of the COVID-19 pandemic has staggered the forward march of national economies, giving rise to widespread uncertainty and anxiety across businesses. Worldwide, governments are taking emergency steps to pull themselves out of this crisis. Private sector organizations are also looking for alternatives to survive these trying times. At Fortune Business Insights™, we are taking solid efforts to gain market intelligence and equip you with updated information to aid your fight against this crisis. We are offering precise market reports based on our expertise and experience in the field of market research.
Highlights of the Report:
- Careful estimations about the upcoming trends and prospects in the market;
- Actionable research into the regional dynamics of the market;
- Tangible analysis of the factors driving and restraining the market; and
- Comprehensive profiling and examination of the key market players and their dominant strategies.
Governmental Push for Neem Fertilizers to Stoke Growth
Neem-based fertilizers have been aggressively promoted by governments in countries such as India, where the neem tree is native to the land and the need for quality crops is dire. In 2015, for example, the state-owned Gujarat Narmada Valley Fertilisers and Chemicals (GNFC) started a project for the backward integration and manufacture of organic neem cake fertilizer and neem oil. The initiative was further bolstered when India’s Central Government made 100% neem coating of urea fertilizers and pesticides mandatory in 2014-15. More recently in July 2020, the Indian Farmers Fertiliser Cooperative Limited (IFFCO)introduced Neem Cake, a type of organic manure derived from de-oiled neem cake fertilizer. A few Indian startups are also marketing neem-based agricultural inputs in the developed world as well. For example, NimTree Organics, a US-based startup started by a graduate of the Purdue University in 2016, markets and sells neem-based organic fertilizers and pesticides in the US. Active promotion of neem tree agricultural products will, thus, boost the neem-based fertilizers market growth.
Favorable Climatic Conditions to Aid Market Growth in Asia Pacific
Among regions, Asia Pacific is set to dominate the neem-based fertilizers market share in the upcoming years owing to the favorable climatic conditions that are conducive for the growth of the neem tree, especially in India. In addition, supportive governmental policies for the production and distribution of neem-coated fertilizers in the region will also support the regional market growth.
In North America, the main growth stimulants will be the spreading awareness about the harmful effects of chemical fertilizers and the rising demand for naturally-derived food products. Furthermore, increasing investments by food and agro-based companies in bio-based agricultural inputs are also likely to speed up the expansion of the market in North America.
Major Segments includes:
- Oilseeds and Pulses
- Fruits and Vegetables
Request A Sample Copy Neem-based Fertilizers Market Report
Key Players to Implement Expansion Strategies in Emerging Economies
The leading players in this market are adopting and implementing strategies to expand their operations and deepen their footprint in the regional markets of emerging economies. These countries are presenting lucrative opportunities for key players in this market as they are heavily dependent on agriculture and their national governments are initiating programs and policies to boost agricultural productivity and ensure food security.
- January 2020: India’s Union Ministry of Chemicals and Fertilizers launched APNA UREA – Sona Ugle brand of Hindustan Urvarak and Rasayan Limited (HURL). The objective of this initiative is to make India self-reliant in urea production and augment its neem-based fertilizer manufacturing
List of Key Players Covered in the Neem-based Fertilizers Market Report:
- Nikita Agro Industries
- Fortune Biotech
- PJ Margo
- Agro Extracts Limited
- Trifolio-M GmbH
- Ozone Biotech
- Neeming Australia Pvt Ltd.
- I.D. Parry
- Parker India Group Pvt. Ltd.
Have Any Query? Ask Our Experts
Have a Related News: