Report Code: A16015 | Pages: 84 | May 2022 | 1746 Views | ||
Author(s) : Chidanand B, Amit N , Eswara P | Tables: 27 | Charts: 20 |
|
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the India Phosphate Rich Organic Manure (prom) Market
Request Now !The India phosphate rich organic manure (PROM) market was valued at $203.2 million in 2020, and is projected to reach $419.6 million by 2030, growing at a CAGR of 6.8% from 2021 to 2030.
COVID-19 outbreak had moderate impact on India phosphate rich organic manure (PROM) market owing to its dependence on agriculture sector. Key-players in the PROM market are coming up with new business strategies such as business expansion in order to gain edge over competitors and increase their sales in the pandemic situation.
Organic manure (type of natural fertilizer) is used by farmers to provide proper nutrients to crops. Phosphate rich organic manure is a type of fertilizer that is used as an alternative for di-ammonium phosphate and single super phosphate fertilizers. Phosphate rich organic manure is produced with use of high-grade rock phosphate that is co-composted along with plant waste or sources such as waste from fruit industries, paddy straw waste, and press mud. Â Â Â Â
PROM is a value-added product that has 18% P2O5 and 22% moisture content. In addition, it is cheaper as compared to other phosphate substitute products such as di-ammonium phosphate (DAP). Moreover, better productivity result of crop yield has further escalated the use and adoption of PROM by Indian farmers. For instance, productivity of paddy crop can be increased by 29% with the use of PROM. Change in perception of farmers and end users toward environmentally sustainable farming methods and affordable organic fertilizers propel demand for organic fertilizers in India. In addition, advantages such as subsidized prices, contribution toward minimal use of non-biodegradable raw materials in crops, and favorable government policies has further escalated the use and production of organic-based fertilizers in India. Phosphate rich organic manure (PROM) is used as an organic-based fertilizer and as alternative over other fertilizers such as di-ammonium phosphate and single super phosphate. In addition, utilization of PROM is expected to cut down the cost associated with use of fertilizers and minimizes cost associated with fertilization process. Moreover, PROM is suitable with Indian soil conditions ranging from neutral to alkaline soil. In general, PROM can be used effectively with soil of neutral to high pH content. All these factors collectively drive growth of the India PROM market. Â
Nutrient content in organic manure is minimal as compared with chemicals fertilizers. In order to meet the proper nutrient content for the growth of crops, large amount of organic manure need to be added. This factor in turn increases time and thereby anticipated to hamper the market growth. Nitrogen content and uptake of nitrogen nutrient by the crops is utmost important. However, due to low nitrogen mineralization content and low nitrogen release rate to the crops is are predicted to restrain the growth of the India phosphate rich organic manure (PROM). Factors such as minimal nutrient level and product inconsistency associated with organic manure is predicted to hamper the India phosphate rich organic manure market growth. For instance, nutrient level in organic manure is minimal as compared to chemical fertilizers and in some cases manufactured PROM product may yield inconsistent result. All these factors hamper the market growth.Â
 
On the contrary, PROM fertilizers are produced through bioconversion of phosphate rock ore into soluble phosphates. In addition, use of vermicompost and anaerobic digestor sludge produces PROM that is used as an alternative over other chemical based phosphatic fertilizers. Phosphorus is an important nutrient that is responsible for proper crop growth. Hence, proper intake of phosphorus content by crops is ensured with use of chemical fertilizers such as triple superphosphate and ammonium phosphate. However, production of these chemical fertilizers is an energy intensive process. Thus, production of phosphatic fertilizers with use of bio-conversion process is gaining importance. Bio- fertilizers (PROM) in such case is gaining importance and anticipated to offer new opportunities during the forecast period.
The India phosphate rich organic manure (PROM) market analysis is done on the basis of source type. On the basis of source type, the market is divided into organic manure, plant based bio-mass, de-oiled cake, potassium humate, and others.Â
The major companies profiled in this report include Biogen Fertilizers India Private Ltd., Nextnode BioScience Pvt. Ltd., Jaipur Bio Fertilizer, Hindustan BEC Tech India Pvt. Ltd., Gujarat Pavan Fertilizer Company (GPFC), Farmadil India LLP, Prabhat Fertilizer & Chemical Works, Bhoomi Phosphate Pvt. Ltd., Agri India Biotech, and Ujjawal Biotech & Organics Pvt. Ltd.Â
In 2020, the potassium humate source type was the largest revenue generator, and is anticipated to grow at a CAGR of 4.7% during the forecast period in terms of revenue. Adoption of potassium humate as a key component in sustainable agricultural methods, as well as rising concerns about environmental consequences and soil pollution as a result of the use of chemical-based products on crops, are the primary drivers for potassium humate. Exogenous potassium humate enhances soil characteristics and boosts fertility. In addition, demand for potassium humate is expected to be driven by the availability of customized product solutions based on soil and crop type specifications, as well as demand for herbicide products due to their improved performance and ecofriendly nature.
Key benefits for stakeholders
Impact of COVID-19 on the India rich organic manure (PROM) marketÂ
India Phosphate Rich Organic Manure (PROM) Market Report Highlights
Aspects | Details |
---|---|
By KEY MARKET SEGMENTS |
|
Key Market Players | Jaipur Bio Fertilizer, Farmadil India LLP, Nextnode BioScience Pvt. Ltd., Gujarat Pavan Fertilizer Company (GPFC), Bhoomi Phosphate Pvt. Ltd., Prabhat Fertilizer & Chemical Works, Key players in the India phosphate rich organic manure (PROM) market are:, Agri India Biotech, Hindustan BEC Tech India Pvt. Ltd., Ujjawal Biotech & Organics Pvt. Ltd., Biogen Fertilizers India Private Ltd. |
Loading Table Of Content...
According to CXOs, the India phosphate rich organic manure (PROM) witnessed significant growth in recent years. Phosphate rich organic manure is produced through co-compositing of high-grade rock phosphate along with plant sources such as waste from fruit industries, paddy straw waste, and press mud. PROM is a value-added product that has 18% P2O5 with 22% moisture content. In addition, it is cheaper as compared to other phosphate substitute products such as di-ammonium phosphate (DAP). Moreover, better productivity result of crop yield has further escalated the use and adoption of PROM by Indian farmers. For instance, productivity of paddy crop can be increased by 29% with use of PROM. All these factors collectively drive growth of the India PROM market.Â
In addition, side effects associated with long term use of traditional fertilizers such as DAP and monoammonium phosphate (MAP) has further created new growth opportunities in the India phosphate rich organic manure market. Long term use of DAP and MAP prohibits growth of useful microorganisms that are essential for crop growth. Benefits associated with use of PROM such as cost-effectiveness, owing to minimal production steps involved and no need of using chemical catalyst further augments growth of the market. Use of PROM in agricultural fields improves supply of phosphorus content to the primary as well as surrounding (secondary) crops, thus enhancing growth of crops and minimizing use of fertilizers. Addition of PROM also minimizes the risk associated such as leaching and run-off in the cultivated crops.Â
A. Rise in demand for organic fertilizers and growth in support from the government & rise in number of favorable policies are the key factors boosting the India phosphate rich organic manure market growth.
A. The India phosphate rich organic manure (PROM) size was valued at $203.2 million in 2020, and is projected to reach $419.6 million by 2030, growing at a CAGR of 6.8% during the forecast period.
A. Biogen Fertilizer India Private Ltd., Hindustan BEC Tech India Pvt. Ltd., Jaipur Bio Fertilizer, and Nextnode BioScience Pvt. Ltd. are the most established players of the India phosphate rich organic manure market.
A. Organic fertilizer industry is projected to increase the demand for India phosphate rich organic manure.
A. The India phosphate rich organic manure (PROM) is segmented on the basis of source type. Depending on source type, the market is categorized into organic manure, plant based bio-mass, de-oiled cake, potassium humate, and others.
A. Phosphorus content is vital for growth of plants and cash crops. However, limited availability of phosphorus content in soil requires addition of phosphorus-based fertilizers for improving crop production and cultivation. Phosphate rich organic manure is produced through co-compositing high grade rock phosphate and organic matter collected from plant and animal waste. In addition, phosphate solubilizing bacteria (PSB) and nitrogen fixing bacteria can be added, which, in turn, increases the efficiency of PROM. Presence of high phosphorus pentoxide (P2O5) and moisture content makes PROM cost-effective and cheaper substitute over other phosphorus-based fertilizers.
A. Use of PROM as an substitute over DAP (di-ammonium phosphate) fertilizer applications are expected to drive the adoption of India phosphate rich organic manure market.
A. India phosphate rich organic manure (PROM) market has been moderately impacted due to the wake of the COVID-19 pandemic, owing to its dependence on the agricultural sector.
Start reading instantly.
This Report and over 53,724+ more Reports, Available with Avenue Library. T&C*.
Enterprise
License/PDF
Library
Membership
*Taxes/Fees, if applicable will be added during checkout. All prices in USD
To ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.
Get Industry Data AlertsTo ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers