Yahoo Finance Granular Biochar Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type and Application
The granular biochar market is expected to grow from US$ 68,789. 87 thousand in 2022 to US$ 134,541. 08 thousand by 2028; it is estimated to grow at a CAGR of 11. 8% from 2022 to 2028. Granular biochar aids in boosting crop productivity and soil fertility.
New York, Sept. 27, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Granular Biochar Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type and Application" - https://www.reportlinker.com/p06321042/?utm_source=GNW
Soil deterioration is a big issue for agriculture worldwide.
Biochar is added to degraded soils to improve their condition.Granular biochar enhances soil structure, increases water retention and aggregation, decreases acidity, improves porosity, controls nitrogen leaching, and improves microbial characteristics to improve soil quality.
Composting has also been proven to benefit from granular biochar. Both the loss of nutrients in the compost material and greenhouse gas emissions are prevented.
Based on product type, the global granular biochar market is segmented into wood source biochar, corn and wheat source biochar, and others. The corn and wheat source biochar segment led the market in 2021.
The granular biochar market, based on geography, is segmented into North America, Europe, Asia Pacific (APAC), South & Central America, and the Middle East & Africa (MEA).In 2021, Asia Pacific dominated the market.
It is also expected to be the fastest-growing region during the forecast period.Granular biochar is associated with organic gardening and farming, which are currently witnessing healthy progress in conventional agriculture.
Thriving Asia Pacific agriculture sector and increasing adoption of organic farming practices are among the key factors driving the granular biochar market.Granular biochar is widely used with organic manure to improve plant health and soil fertility, owing to rising concerns regarding soil health, environmental safety, and agricultural sustainability.
The growing consumer awareness about the negative effects of conventional chemical pesticides and fertilizers is also boosting the market growth.
Impact of COVID-19 Pandemic on Granular Biochar Market
The COVID-19 pandemic adversely affected the granular biochar market in 2020 due to the shutdown of manufacturing facilities and restrictions on transportation and logistics.Disruptions in supply chains also hampered the supply of granular biochar.
Manufacturers introduced extensive modifications to their processes to comply with national and regional guidelines to protect employees from the COVID-19 infection.Many global manufacturers temporarily paused their operations or allowed production processes with limited employee strength.
The COVID-19 pandemic pushed up farmers’ costs while reducing income.Further, due to the COVID-19 pandemic, the supply and demand got poorly hit, because of shutting down of industries, which led to reduced demand for granular biochar.
Despite these consequences, businesses started recovering as governments of various countries relaxed lockdown measures. Moreover, successful vaccination drives further eased the scenario, leading to a rise in business activities worldwide. The recovery of the agricultural sector is also driving the granular biochar market. During the COVID-19 pandemic, the interest of consumers was shifting toward healthy and chemical-free food. This significant shift assisted the granular biochar market growth during and after the pandemic.
CharGrow USA LLC, Green Man Char, Oregon Biochar Solutions, Pyreg GmbH, Carbonis GmbH & Co. Kg., Airex Energie Inc., BioChar6, American Biochar Company, Arsta Eco Pvt. Ltd., and Advanced Renewable Technology International are among the key players operating in the granular biochar market. These companies are adopting strategies, such as mergers and acquisitions and product launches, to expand their geographic presence and consumer bases. For instance, in 2021, Airex Energy and SUEZ Group teamed up to improve production capacity from biomass leftovers, expecting an increase in capacity from 10,000 to 30,000 tonnes per year.
The overall global granular biochar market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the global granular biochar market.
Read the full report: https://www.reportlinker.com/p06321042/?utm_source=GNW
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