Peat - Global Market Outlook (2020-2028)
According to Stratistics MRC, the Global Peat Market is accounted for $5.64 billion in 2020 and is expected to reach $19.27 billion by 2028 growing at a CAGR of 16.6% during the forecast period. Rapidly growing adoption of bio-based fuel and growing demand for electricity generation on account of the growing population are the major factors propelling the market growth. However, the lack of nutrient presence in peat is hampering the market growth.
Peat is an organic matter composed of wetland vegetation that includes various bog plants such as mosses, sedges, and shrubs. Peat, also known as turf, is an accumulation of organic matter or decayed vegetation that is found in natural areas such as mires or peatlands. Peat finds applications in the horticulture and agriculture sectors owing to its rich organic properties, providing excellent aeration and moisture when used with soil.
Based on the application, the agriculture and horticulture segment is estimated to have a lucrative growth due to farmers utilize dried peat to absorb excrement from cattle that are then wintered indoors. Peat holds a crucial position in the agriculture and horticulture segment as it has the essential property of retaining moisture in the soil especially when the soil is dry. This helps in preventing the excess of water from destroying the roots when it is wet.
By geography, the Asia Pacific is going to have a lucrative growth during the forecast period due to the fast urbanization along with the increasing population. Moreover, the rapidly growing agricultural activities led to the huge demand for peat products in this region.
Some of the key players profiled in the Peat Market include Stender GmbH, Tootsi Turvas AS, Jiffy International AS, Oulun Energia Oy, Sun Gro Horticulture, Global Peat, Premier Tech, T&J Enterprises, Neova AB, Lambert, Klasmann-Deilmann, SMS Exports, Global Coirs & Eggs, Dutch Plantin, CoCo Green (Pvt) Ltd, Bord na Mona, and Vapo Oy.
• Coco Peat
• Sod Peat
Material Types Covered:
• Biofiltration/Water Filtration
• Energy Fuel
• Agriculture and Horticulture
• Power Generation
• Freshwater Aquaria
End Users Covered:
• Chemical & Petrochemical
• Energy & Power
• Food & Beverages
• Oil & Gas
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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