Neem oil is obtained from the seeds of neem tree. Utilization of neem seeds is to be set with the problem of organization of systematic collection and crushing of seeds. But with the ever increasing exploitation of non edible oils for industrial and pharmaceutical purposes, neem oil is gaining importance economically.Neem oil can be used as soaps,medicinal and insecticide. Neem oil is usually opaque and bitter but it has recently been shown that it can be processed into non bitter edible oil with 50% oleic acid and 15% linoleum acid. Neem oil acts as an insecticide and protects plants and crops against pests.
The demand of neem products are increasing day by day. Agriculture sector is now becoming a major consumer of theneem products viz. Neem oil, neem cake and neem based pesticides. The global biopesticide market is anticipated to grow at a staggering CAGR of 13.9% during the forecast period of 2017 to 2025.The biopesticides market is projected to reach USD 6.4 billion by 2023, at a CAGR of 15.99% during the forecast period. As a whole there is a good scope for new entrepreneur to invest in this business.
Few Indian major players are as under:
· Agro Extracts Ltd.
· Hanuman Minor Oils Ltd.
· J S P Oils & Fats Ltd.
· K G N Agro Internationals Ltd.
· Kohinoor Feeds & Fats Ltd.
· Morinda Overseas Inds. Ltd.
· Pan Asia Global Ltd.