Portland, OR, April 04, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global biochar market generated $204.6 million in 2021 and is estimated to reach $695.1 million by 2031, witnessing a CAGR of 13.1% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report coverage and Details:
| Report Coverage | Details |
| Forecast Period | 2022-2031 |
| Base Year | 2021 |
| Market Size in 2021 | $204.6 million |
| Market Size in 2031 | $695.1 million |
| CAGR | 13.1% |
| No. of Pages in Report | 272 |
| Segments Covered | Production Technology, Application, and Region |
| Drivers | Increased need for water treatment activities |
| Utilization of biochar as a soil conditioner to improve crop yield | |
| The increased use of biochar as a regular feed supplement to improve animal health and the nutrient intake efficiency of cattle (cows and goats) | |
| Opportunities | The rise in corporate social responsibility (CSR) activities of companies |
| Engagement of governments of both developed and developing countries in the use of sustainable and eco-friendly alternatives due to the rise in environmental concerns | |
| Restraints | Disadvantages of biochar such as loss of land due to erosion and soil compaction during biochar application |
| Reduction of worm life rate | |
| Reduced efficacy of pesticides |
Covid-19 Scenario:
- The COVID-19 outbreak had a negative impact on the global biochar market owing to its dependence on livestock, industrial, building & construction, metal processing, and other sectors. According to a report published by the Organization for Economic Co-operation and Development (OECD), the decreased consumer demand put a downward pressure on the prices and production of soil conditioners. This factor hampered the demand for biochar during the pandemic period.
- However, factors such as the rise in awareness for eco-friendly activities coupled with the increase in corporate social responsibility (CSR) for promoting sustainable products may surge the utilization of biochar among several end use sectors; thus, boosting the market growth during the forecast period.
The report offers a detailed segmentation of the global biochar market based on production technology, application, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
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By production technology, the pyrolysis segment held the largest share in 2021, accounting for nearly three-fifths of the global biochar market and would maintain its dominance in terms of revenue through 2031. The same segment is estimated to witness the fastest CAGR of 13.3% during the forecast period. The report also discusses gasification and others segment.
By application, the soil amendment segment accounted for the highest share in 2021, generating more than two-fifths of the global biochar market revenue and is projected to dominate in terms of revenue by 2031. Also, the same segment would showcase the fastest CAGR of 13.4% from 2022 to 2031. The report also analyzes animal feed, industrial and others segment.
By region, Asia-Pacific held the highest share in 2021, contributing to more than two-thirds of the global biochar market and is projected to maintain its dominant share in terms of revenue during the forecast period. Also, the same segment is expected to manifest the fastest CAGR of 13.6% from 2022 to 2031. The report also studies markets in Europe, North America, and LAMEA regions.
The prominent market players analyzed in the global biochar market report include Pacific Biochar Production, Proactive Agriculture, Coaltec Energy USA, Arsta Eco Pvt Ltd, Carbofex Ltd., FARM2ENERGY Private LIMITED, Karr Group Co. (KGC), Airex Energy Inc., Frontline Bioenergy Ltd., and Biochar Supreme. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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