Agricoltura
Phosphate Rich Organic Manure (PROM) Market to Garner $5.7 Billion, Globally, By 2031 at 6.5% CAGR, Says Allied Market Research
Increase in demand for organic fertilizers and rise in government initiatives have boosted the growth of the global phosphate rich organic manure (PROM) market. However, low consumer awareness hinders the market growth. On the contrary, new product launches and production of PROM using vermicompost are expected to unlock new opportunities in the future.
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By source, the potassium humate segment held the largest share in 2021, accounting for more than two-fifths of the global phosphate rich organic manure (PROM) market, due to adoption of potassium humate in sustainable agricultural methods and increased concerns about environmental consequences and soil pollution. However, the organic manure segment is expected to register the highest CAGR of 9.1% during the forecast period, owing to rise in demand for organic food and increased awareness regarding environmental safety.
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By region, the market across Asia-Pacific , followed by Europe and North America , dominated the market in 2021, holding more than half of the global phosphate rich organic manure (PROM) market. In addition, the region is expected to register the highest CAGR of 7.4% during the forecast period, owing to rise in population in the region and increased demand for food and large area for organic farming. The market across North America is expected to register a CAGR of 5.1% from 2022 to 2031.
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Organic Fertilizers Market: Global Opportunity Analysis and Industry Forecast, 2021–2030
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Vietnam Fertilizer Market: Opportunity Analysis and Industry Forecast, 2020-2027
Magnesium Phosphate Market: Global Opportunity Analysis and Industry Forecast, 2021-2030
India Phosphate Rich Organic Manure (PROM) Market: Country Opportunity Analysis and Industry Forecast, 2021–2030
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