Granular Biochar Market is expected to reach US$ 134,541.08 Thousand by 2028

Published Date: 26 Aug 2022

The scope of our recent study on "Granular Biochar Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type (Wood Source Biochar, Corn and Wheat Source Biochar, and Others), Application (Soil Conditioner, Fertilizer, and Others), and Geography" includes the factors fueling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.

The granular biochar market is expected to grow from US$ 68,789.87 thousand in 2022 to US$ 134,541.08 thousand by 2028; it is estimated to grow at a CAGR of 11.8% from 2022 to 2028.

Granular biochar is a carbon-rich product made up of renewable agricultural waste residues such as coconut shells, coconut husk, cotton stalk, corn cobs, fronds, and bagasse. It decreases water pollution and helps increase crop yield. Granular biochar is produced using raw materials such as yard waste, food waste, crop residues, and plant and animal biomass. It improves the root structure and growth. It also reduces the soil acidity and leaching of nitrogen into the groundwater. Granular biochar acts as a new low-cost alternative to biological activated carbon. Moreover, it increases the amount of organic matter in the soil. All these factors are driving the market.

Based on application, the global granular biochar market is segmented into soil conditioner, fertilizer, and others. In 2021, the fertilizer segment dominated the market. Furthermore, the market for this segment is expected to grow at the fastest CAGR during the forecast period.

The global granular biochar market is segmented into five main regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. In 2021, Asia Pacific dominated the market. Moreover, it is expected to be the fastest-growing region during the forecast period. The Asia Pacific market is driven by the increasing demand for granular biochar from the agricultural industry. Moreover, the region's rising population is increasing the food demand. The demand for granular biochar is increasing rapidly to increase productivity and quality yield.

Impact of COVID-19 Pandemic on Granular Biochar Market

Initially, the COVID-19 pandemic adversely affected the granular biochar market growth due to the shutdown of manufacturing facilities and the restrictions on their operations. Disruptions in the supply chain and restrictions on transportation also hampered the supply of granular biochar. Following the state and regional guidelines, manufacturers had to follow extensive measures to protect the health and safety of their employees. Many global manufacturers temporarily closed their operations or restricted their production capacity. The COVID-19 pandemic pushed up farmers' costs while reducing income. Further, due to the COVID-19 pandemic, the supply and demand got poorly hit, because of shut down of manufacturing units, which led to reduced demand for granular biochar in the market. However, businesses started recovering as the governments of various countries reduced imposed restrictions. Moreover, successful vaccination drives have further eased the scenario, leading to a rise in business activities across the globe. The recovery of the agricultural industry is also driving the granular biochar market. The start of operations in the agricultural units led to the recovery in the production of granular biochar products, which positively impacted the market.

Granular Biochar Market Size, by Region, 2021–2028

Granular Biochar Market Size, by Region, 2021–2028

Report : Granular Biochar Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Wood Source Biochar, Corn and Wheat Source Biochar, and Others) and Application (Soil Conditioner, Fertilizer, and Others)

The "Global Granular Biochar Market Analysis to 2028" is a specialized and in-depth study of the chemicals & materials industry, focusing on the global market trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The market is segmented on the basis of product type, application, and geography. Based on product type, the global market is segmented into wood source biochar, corn and wheat source biochar, and others. Based on the application, the market is segmented into soil conditioner, fertilizer, and others. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. Asia Pacific is expected to be the fastest-growing region in the market.

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