Biochar Market Size to Reach USD 885.2 Million by 2027 at a CAGR of 11.8% | Valuates Reports

Biochar Market Size to Reach USD 885.2 Million by 2027 at a CAGR of 11.8% | Valuates Reports

PR Newswire

BANGALORE, India, Nov. 17, 2021

BANGALORE, India, Nov. 17, 2021 /PRNewswire/ -- Biochar Market is Segmented by Type (Wood Source Biochar, Corn Stove Source Biochar, Rice Stove Source Biochar, Wheat Stove Source Biochar, Other Stove Source Biochar), by Application (Soil Conditioner, Fertilizer, Others). The report covers global opportunity analysis and industry forecasts from 2021 to 2027. It is published in Valuates Reports under the Chemicals Industry Category.

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In 2020, the global Biochar market size was USD 406.5 Million and it is expected to reach USD 885.2 Million by the end of 2027, with a CAGR of 11.8% during 2021-2027.

Biochar is a developing industry that is expected to play a significant role in increasing crop production and productivity in the agricultural sector. It boosts soil fertility and gives crops the nutrients they require. Furthermore, applications in energy production and greenhouse gas mitigation are likely to generate new revenue streams for the biochar market.

Major factors driving the growth of Biochar market are:

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TRENDS INFLUENCING THE GROWTH OF BIOCHAR MARKET

Biochar helps improve the overall fertility of the soil naturally. This feature is in turn expected to drive the growth of the biochar market. Biochar improves soil fertility in two ways: by supplying nutrients to the soil (such as K, to a lesser extent P, and a range of micronutrients) and by retaining nutrients from other sources, including those found in the soil. However, the greatest advantage is that nutrients from other sources are preserved. In most cases, when supplemented with nutrients from other sources, such as inorganic or organic fertilizers, biochar has a net positive effect on crop development. Biochar increases the availability of C, N, Ca, Mg, K, and P to plants by absorbing and slowly releasing fertilizers. By reducing agricultural pollutants in the surrounding environment and allowing for less fertilizer use, also helps to reduce fertilizer discharge and leaching.

In addition, the rising agriculture sector is likely to boost the biochar market. Biochar is in great demand, thanks to a growing demand for natural and organic foods, as well as a growing need to boost soil fertility and crop development.

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BIOCHAR MARKET SHARE

Based on region, North America is expected to be the most lucrative region due to demand for organic food. When compared to other regions, this one has a high level of biochar awareness, and the farming community is more knowledgeable about the product and its benefits.

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MAJOR PLAYERS IN THE BIOCHAR MARKET

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