Report Code: A15883 | Pages: 174 | ||
Tables: 90 | Charts: 40 |
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The global phosphate rich organic manure (PROM) market size 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.
Statement for COVID-19 banner: The outbreak of COVID-19 led to enforce lock-down across many countries around the globe resulted into decrease in government's revenue streams of many countries. This led to budget cut and delay in governments sponsored marketing and research projects of organic fertilizers. This consequently hampered the phosphate rich organic manure (PROM) market.
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.
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 global farmers. For instance, productivity of paddy crop can be increased by 29% with the usage of PROM. Change in perception of farmers and end users toward environmentally sustainable farming methods and affordable organic fertilizers will drives the demand for organic fertilizers across the globe. 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. Phosphate rich organic manure (PROM) is used as an organic-based fertilizer and as alternative over other chemical 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 can be used effectively with soil of neutral to high pH content. All these factors collectively drive growth of the phosphate rich organic manure market.
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 phosphate rich organic manure 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 global phosphate rich organic manure (PROM). Factors such as minimal nutrient level and product inconsistency associated with organic manure is predicted to hamper the phosphate rich organic manure market.
However, production of 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 global 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. The phosphate rich organic manure market share is analyzed across all significant regions and countries.
The major companies profiled in this phosphate rich organic manure market report include Agri India Biotech, Biogen Fertilizer India Private Ltd., Hindustan BEC Tech India Pvt. Ltd., Jaipur Bio Fertilizers, Komeco B.V., Midwestren BioAG, Narmada Bio-chem Ltd. (NBCL), NatureSafe, Nextnode BioScience Pvt. Ltd., Ujjawal Biotech & Organics Pvt. Ltd.
Other players in the phosphate rich organic manure market are Gujarat Pavan Fertilizer Company (GPFC), Farmadil India LLP, Prabhat Fertilizer & Chemical Works, Bhoomi Phosphate Pvt. Ltd.
In 2021, the potassium humate source type was the largest revenue generator, and is anticipated to grow at a CAGR of 4.8 % 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.
Asia-Pacific contributed the 55.5% market share in 2021, and is projected to grow at CAGR of 7.4% during the forecast period. The increasing population in the region is the major factor driving the demand for food and large area under organic farming is driving the demand for phosphate rich organic manure in the region.
Key Benefits For Stakeholders
Impact Of Covid-19 On The Global Phosphta Rich Organic Manure (Prom) Market
Phosphate Rich Organic Manure (PROM) Market Report Highlights
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According to CXOs, the 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 phosphate rich organic manure market.
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 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.
A. Change in perception of end users (i.e., farmers) toward environmentally sustainable farming methods and affordable organic fertilizers will drive the phosphate rich organic manure market.
A. The global phosphate rich organic manure (PROM) market 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.
A. Biogen Fertilizer India Private Ltd., Jaipur Bio Fertilizers, Komeco B.V., Midwestren BioAG and Gujarat State Fertilizer Company (GSFC), and Narmada Bio-chem Ltd are some of the established players of the global phosphate rich organic manure (PROM) market
A. Organic farming industry projected to increase the demand for phosphate rich organic manure (PROM).
A. By Source Type o Organic Manure o Plant based Bio-Mass o De-oiled Cake o Potassium Humate o Others
A. Increasing organic farming across the globe is the main driver of phosphate rich organic manure (PROM) market.
A. COVID-19 had negative impact on demand for phosphate rich organic manure (PROM) owing to the shortage of raw material during COVID-19 pandemic.
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