The Global Peat Market size is expected to grow from USD 7.44 Million in 2022 to USD 23.08 Million by 2030, at a CAGR of 15.2% during the forecast period (2023-2030).
The Peat market is growing because it is commonly utilized in horticulture, agriculture, and energy generation. Peat is important in the cultivation of crops, especially in greenhouse farming, due to its ability to retain water, improve aeration, and work as a soil conditioner. The horticulture sector is greatly influenced by the increased need for organic growing media. Yet, challenges arise due to environmental issues linked to peat extraction affecting wetlands and carbon storage. There are chances in the market for eco-friendly peat substitutes and the sustainable use of peatlands to manage industry growth while protecting the environment.
Top Key Players Covered In Peat Market
Bord na Mona (Ireland), Premier Tech (Canada), CoCo Green (Pvt.) Ltd. (Sri Lanka), PEAT LAND UKRAINE LLC (Ukraine), Dutch Plantin B.V. (Netherland), Globalcoirs (Canada), Elva E.P.T. Ltd. (Estonia), Oulun Energia Oy (Finland), Global Peat Ltd. (Lativa), Jiffy International AS (Netherland), Klasmann-Deilmann GmbH (Germany), Lambert (US), Neova AB (Sweden), Stender AG (Germany), Neova Oy (Finland), Sun Gro Horticulture (US), T&J Enterprises (US), Tootsi Turvas (Estonia), Turveruukki Oy (Finland), Vapo Oy (Finland) and other major players.
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The Global Peat Market study contains information on the global industry, as well as user data and numbers. The Global Market is examined in depth in this research report, including raw material suppliers, industry chain structures, and manufacturing. The Peat Sales market investigates the market's most important segments. This insightful analysis includes historical data as well as a predicted timeframe. This report examines the whole value chain, as well as downstream and upstream fundamentals. This Market study examines the Peat Industry's technical data, production plants, and raw material suppliers, as well as which product has the largest penetration, profit margins, and R&D status. The report's forecasts are based on an examination of the market's subdivisions, which include the global market size by product, end-user application, and several regions. The research contains information on market intelligence, changing market dynamics, present and anticipated market trends, and so on.
Drivers in the Peat Market:
The increasing demand for premium soil conditioners in agriculture is fueling the peat market to enhance crop productivity. Peat's capacity to hold onto moisture and nutrients makes it a popular option for gardening, especially in greenhouse agriculture and landscaping. Furthermore, the increasing recognition of organic farming methods and the need for sustainable soil enhancement solutions are fueling the expansion of the peat market. Its utilization for generating biofuel in certain areas also contributes to market growth.
Segmentation Analysis of The Peat Market:
By Type
· Coco Peat
· Sod Peat
· Other
By Material
· Fabric
· Hemic
· Sapric
· Others
By Application
· Agriculture
· Domestic
· Fuel & Energy
· Medicine
· Others
Opportunities in the Peat Market:
Possibilities in the peat industry involve creating environmentally friendly peat products as a way to lessen ecological harm. There is great potential in entering emerging markets with expanding agriculture sectors. Innovations in packaging and delivery of peat-based products provide new opportunities for growth in small-scale and home gardening uses. Furthermore, working together with environmental groups to support sustainable harvesting and restoration of peatlands can improve credibility in the market and create opportunities in new markets.
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Regional Analysis of the Peat Market
The demand for peat is expected to develop substantially in North America due to increased demand from heavy industries. The desire for peat as an alternative fuel in a range of end-use applications, including water filtration, freshwater aquariums, and agriculture, is a major development driver in North America. Moreover, short-term output in the US is probably going to average about 420,000 tons annually, with over 80% of domestic consumption coming from imports of peat from Canada. While exports are predicted to decline to about 38,000 tons from 46,000 tons in 2020, imports are predicted to increase to 1.7 million tons in 2021 from 1.4 million tons in 2020.
By Region
• North America (US, Canada, Mexico)
• Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
• Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
• Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
• South America (Brazil, Argentina, Rest of SA)
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