(MENAFN- EIN Presswire)
Phosphate Rich Organic Manure (PROM) industry Size
The growth of the global PROM market is primarily fueled by the increasing demand for organic fertilizers and rising government initiatives.
WILMINGTON, DE, UNITED STATES, October 21, 2024 /EINPresswire / -- Allied Market Research recently published a report titled "Phosphate Rich Organic Manure (PROM) Market by Source (Organic Manure, Plant-Based Bio-Mass, De-oiled Cake, Potassium Humate, and Others): Global Opportunity Analysis and Industry Forecast, 2022–2031." According to the report, the global phosphate-rich organic manure (PROM) industry was valued at $2.8 billion in 2021 and is projected to reach $5.7 billion by 2031, growing at a CAGR of 6.5% from 2022 to 2031.
Download Sample Pages of Research Overview:
Key Factors Driving Market Growth:
The growth of the global PROM market is primarily fueled by the increasing demand for organic fertilizers and rising government initiatives aimed at promoting sustainable agricultural practices. However, low consumer awareness of PROM remains a challenge to market expansion. Nonetheless, the introduction of new products and the use of vermicompost in PROM production are anticipated to create new growth opportunities in the coming years.
Segment Highlights:'
By Source: In 2021, the potassium humate segment accounted for over 40% of the global market, driven by its adoption in sustainable farming practices and concerns over environmental and soil health. Meanwhile, the organic manure segment is poised for the fastest growth, with a CAGR of 9.1% over the forecast period, fueled by the growing demand for organic food and increasing environmental awareness.
Regional Insights:
By Region: The Asia-Pacific region, followed by Europe and North America, held the largest market share in 2021, accounting for over half of the global PROM market. The region is expected to experience the highest growth, with a CAGR of 7.4%, due to its growing population, rising food demand, and extensive organic farming. North America is projected to grow at a CAGR of 5.1% during the forecast period.
Leading Market Players
Key players in the phosphate-rich organic manure market include:
- Agri India Biotech
- Hindustan BEC Tech India Pvt. Ltd.
- Biogen Fertilizer India Private Ltd.
- Komeco B.V.
- Jaipur Bio Fertilizers
- Narmada Bio-chem Ltd. (NBCL)
- Midwestern BioAG
- Nextnode BioScience Pvt. Ltd.
- NatureSafe
- Ujjawal Biotech & Organics Pvt. Ltd.
Interested in Procuring This Report? Visit Here:
About Us:
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.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
X
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
MENAFN21102024003118003196ID1108800760
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.