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 & Industry Analysis, By Formulation (Dry, Liquid), By Application (Cereals, Oilseeds and Pulses, Fruits and Vegetables, Others) and Regional Forecast, 2022-2029
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.
Driving Factor
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 & 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.
Regional Insights
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.
Competitive Landscape
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.
Industry Development:
- 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:
- GreeNeem
- 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.
Browse Summary
https://www.fortunebusinessinsights.com/neem-based-fertilizers-market-103210
