Azadirachtin Market to Record an Exponential CAGR by 2026
Submitted 1 min 10 sec ago by TMR Market research.
Azadirachtin is a term applied to a bulky group of insecticidal active limonoid compounds. Limonoid compounds are commonly extracted from the seeds and stem of neem tree, wherein the abundant and active biochemical is azadirachtin. Commercially, azadirachtin is extracted from neem seeds. The availability of azadirachtin is low, as the neem tree flowers just once in a year and only one-third of the seeds are collected due to operational problems. Additionally, owing to the strict outbreeding nature of the neem plant, the seeds are highly heterozygous, resulting in unpredictable metabolite production. It is highly oxidized which boasts excess of oxygen bearing functional groups, including an enol ether, hemiacetal, tetra-substituted epoxide, and variety of carboxylic esters. Demand for azadirachtin is high due to its various applications. For instance, it is a biodegradable and ecofriendly bio-pesticide. Azadirachtin is organic, economical, and easy to handle. Increase in demand for bio-pesticides and rise in awareness among consumers about the usage of chemical-free and less toxic pesticides are driving the bio-pesticides market. Increase in demand for food security and limited availability of agricultural land are propelling the demand for azadirachtin across the globe. Implementation of governmental regulations on the usage of toxic chemical-based pesticides is augmenting the global azadirachtin market. However, introduction of substitutes and fluctuation in prices of raw materials may hamper the market in the near future.
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The global azadirachtin market can be segmented based on form, application, and region. In terms of form, the azadirachtin market can be bifurcated into powder and liquid. The liquid segment is anticipated to expand at a rapid pace during the forecast period. Liquid azadirachtin offers various properties such as high viscosity & low diffusivity. It is a bio-pesticide agent that is recyclable. It is also used as pesticide in the agriculture industry. These are key factors estimated to drive the demand for azadirachtin during the forecast period.
In terms of application, the azadirachtin market can be classified into agriculture and others. The agriculture segment is projected to expand at a rapid pace during the forecast period. Increase in demand for organic food is expected to drive the azadirachtin market, as azadirachtin is used as bio-pesticide in agricultural farm. Depending upon application, azadirachtin acts as fungicide, insecticide, or herbicide. This is major factor to drive the market of azadirachtin during the forecast period.
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In terms of region, the global azadirachtin market can be split into Asia Pacific, Europe, Latin America, North America, and Middle East & Africa. Asia Pacific is expected to dominate the global azadirachtin market during the forecast period. Increase in population, especially in India and China, is creating high demand for food. This has necessitated the need for modern farming activities, thereby boosting the demand for bio-pesticide market during the forecast period. The market in South Africa is expected to expand at a sluggish pace compared to that in other countries during the forecast period. Presence of undeveloped economy and infertile land is hampering the demand for azadirachtin.
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The global azadirachtin market is consolidated. Less numbers of companies operate at the global and regional level. Major companies include Himalaya Drug Company, Sumitomo Chemical Corporation, Arysta Lifesciences, Adama Agricultural Solutions, agro-ozone biotech, vanashree agro-chemicals, Novozymes, Nufarm Limited, FMC Corporation, Valent Biosciences, Agrium Inc., and Bharatbiocon, Parrys Bio.
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