New York, June 18, 2020
- Escalating demand for biochar as livestock feed is one of the significant factors influencing the market growth
- Market Size – USD 1.45 billion in 2019, Market Growth - CAGR of 12.3%, Market Trends – Surging demand in greenhouse remediation
New York, June 18, 2020 /PRNewswire/ -- The global biochar market is expected to reach USD 3.67 Billion by 2027, according to a new report by Reports and Data. It finds usage as a feed additive and is considered beneficial for the improvement of feed efficiency, animal health, and environment for livestock housing. Livestock rearing is providing better growth prospects for the use of biochar. Animals ranging from earthworms to chickens and cattle, among others, show great interest in food when biochar is added to it. In the European Union, around 90.0% of the biochar is used to feed livestock, and remaining is used in applications, including spreading on agricultural land with manure. A direct application of the product in poultry rearing is the reduction and elimination of odors produced from poultry litter, especially ammonia. The strong positive electric charge of ammonia makes it corrosive and harmful to breathe. This chocking gas is released by bird droppings, making the air toxic and unhealthy to living beings.
Growing demand for high crop yield is one of the significant factors influencing the market growth. The product allows farmers to increase their crop yield by boosting the productivity of the agricultural land, as well as can make an otherwise less productive land produce substantial yields. Biochar soil amendment improves crop productivity mainly by increasing nutrient use efficiency and water holding capacity.
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However, the high cost associated with the production of biochar and low awareness about the beneficial properties may create hindrances in the growth of the market in the upcoming years.
The COVID-19 pandemic is having a significant impact on the chemicals & materials industry. Demand for products such as biochar is suffering severe shocks across various end-use markets, worldwide supply chains are upset, and the competitive order of manufacturers/producers has witnessed a change. The shortage of demand has fast-tracked the global chemical sector into an oversupply situation. Lack of free movement of the labor force required for the application of biochar on agricultural land and as animal feedstock in the is lacking, thereby hindering the growth of the market in the COVID-19 pandemic. Movement restrictions appear to be a direct and immediate effect, and once the compulsory social distancing ends, it is expected things would get back to normal conditions.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/biochar-market
Further key findings from the report suggest
For the purpose of this report, Reports and Data have segmented the global biochar market on the basis of technology, distribution channel, application, and region:
Technology Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)
Distribution Channel Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)
Application Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)
Regional Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)
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