(MENAFN– EIN Presswire)
Phosphate Rich Organic Manure (PROM) Market Overview
The global PROM market is growing due to the rising demand for organic fertilizers and government initiatives. It was valued at $2.8 billion in 2021 and is expected to reach $5.7 billion by 2031, with a growth rate of 6.5% annually.
Key Growth Factors:
- Increasing demand for organic fertilizers
- Government efforts promoting sustainable agriculture
- Challenges include low consumer awareness
- New product introductions and vermicomposting could boost growth
Market Segments:
- By Source: In 2021, potassium humate made up over 40% of the market. The organic manure segment is expected to grow the fastest at 9.1% annually due to the demand for organic food.
Regional Insights:
- The Asia-Pacific region held the largest market share in 2021 and is projected to grow at a rate of 7.4%.
- North America is forecasted to grow at 5.1% annually.
Key Players in the Market:
- Agri India Biotech
- Hindustan BEC Tech India Pvt. Ltd.
- Biogen Fertilizer India Private Ltd.
- Komeco B.V.
- Jaipur Bio Fertilizers
- Narmada Bio-chem Ltd. (NBCL)
- Midwestern BioAG
- Nextnode BioScience Pvt. Ltd.
- NatureSafe
- Ujjawal Biotech & Organics Pvt. Ltd.
About Allied Market Research:
AMR is a market research and consulting firm based in Portland, Oregon, providing quality market reports and insights to help businesses make strategic decisions.
Contact: David Correa, Allied Market Research, +1 800-792-5285
Legal Disclaimer: EIN Presswire provides this content “as is” and does not guarantee its accuracy. For any issues, please contact the author.
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