Peat Market by Material Type, Type, Application

List of Tables

[180 Pages Report] The Peat Market size was estimated at USD 7.84 billion in 2023 and expected to reach USD 8.45 billion in 2024, at a CAGR 7.51% to reach USD 13.02 billion by 2030.

Peat is an organic material consisting of decomposed plant matter formed in wetland environments over thousands of years, which is used as a fuel source and soil conditioner for agriculture and horticulture. Peat is present in many wetlands, such as marshes, swamps, and coastal wetlands. However, mires, which are intricate ecosystems that include highland bogs and fens, have exceptionally significant peat deposits. The demand for peat has been increasing owing to the surge in the need for renewable energy sources and the increasing focus on organic farming. However, concerns have been raised regarding the environmental impact of peat extraction, as it can damage fragile ecosystems and contribute to climate change. As a result, countries have banned or restricted the use of peat, and there is a growing trend toward using alternative sources of fuel and soil amendments. Furthermore, the R&D efforts in the peat market can help address environmental concerns, promote sustainability, and identify new opportunities for value creation. Collaboration between researchers, industry stakeholders, and policymakers is crucial for advancing knowledge and driving innovation in this field.

KEY MARKET STATISTICS
Base Year [2023]	USD 7.84 billion
Estimated Year [2024]	USD 8.45 billion
Forecast Year [2030]	USD 13.02 billion
CAGR (%)	7.51%

Material Type: Rapid growth in usage of sapric peat for establishment of wetlands

Fibric peat is the least decomposed form and retains much of the original fibrous material from the plants from which it was formed. This type of peat is characterized by its lightweight, high absorption capacity, and excellent aeration properties. Fibric peat is predominantly used in applications requiring soil amendments, such as in horticulture and agriculture, for improving soil structure and water retention. Customers with a focus on sustainable gardening and agriculture and those involved in cultivating specific sensitive plant species that require excellent drainage and aeration might prefer fibric peat. Hemic peat is more decomposed than fibric peat and has a finer structure. Hemic peat is well-suited for soil enhancement, serving as a good balance between water retention and aeration. Hemic peat is preferred by greenhouse operators and gardeners looking for an all-purpose soil conditioner that offers moderate water-holding capacity and nutrient retention. Sapric peat is the most decomposed peat and exhibits a dark, rich color with a high mineral content. It is extremely fine and lacks the fibrous texture of less decomposed peats. Sapric peat is highly regarded for its water retention capabilities and is frequently used in areas requiring superior water-holding capacities, such as in the establishment of wetlands and for erosion control.

Application: Wide application of peat in agricultural sector

In agriculture, peat is primarily utilized as a soil amendment and in potting mix formulations due to its ability to retain water and nutrients. The peat is highly preferred for improving soil structure, particularly in sandy or heavy clay soils, enhancing germination, plant growth, and yield. Domestically, peat is used in heating, gardening, and as an absorbent material. The ability of peat to slowly burn and release heat makes it a valuable fuel in some regions, while its water retention characteristics benefit gardening enthusiasts. Peat is considered a significant source of fuel and energy, particularly in countries with abundant peatlands. Peat is used in power generation plants and, to a lesser extent, for residential heating. Medicinally, peat finds application in balneotherapy, involving peat baths for treating various health issues, including arthritis and skin conditions, due to its anti-inflammatory properties and ability to retain heat.

Regional Insights

The peat market in the Americas region is rapidly growing due to the abundant availability of peat reserves and increasing usage in agricultural and domestic material applications. Peat deposits can be found all over the world; however, they are particularly abundant in Russia, Ireland, Scotland, Finland, Estonia, Poland, Northern Germany, the Netherlands, Scandinavia, New Zealand, and North America, specifically Canada, Michigan, Minnesota, the Florida Everglades, and the Sacramento-San Joaquin River Delta in California. The countries, including Argentina, Canada, Chile, Peru, Brazil, and the United States, have significant peat reserves and production. Additionally, the advancements in the agricultural and horticulture sectors across Europe, the Middle East, and the African economies are driven by an increase in consumer shift toward cost-effective physical and chemical properties favorable for agricultural production. In Europe, the geographical location and climatic conditions favor maximum peat production. Rising demand for electricity generation due to the increase in population and expanding industries of water treatment by peat fuel the growth of the peat market in the Middle East & Africa. Increasing biofuels' popularity and focusing on developing bio-based peat products create profitable opportunities for market growth during the forecast period. The Asia-Pacific region observes a growing peat market attributed to the massive presence of peatlands with expanding utilization of peat in the end-user sectors. The surging utilization of peat in agricultural areas expands the demand for the market. The Asia-Pacific region relies on peat imports to fulfill the requirements of end-user sectors, creating lucrative opportunities to expand their geographical presence.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Peat Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Peat Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Peat Market, highlighting leading vendors and their innovative profiles. These include AB Rekyva, American Peat Technology, LLC, Annapolis Valley Peat Moss Co., AS Tootsi Turvas, BALT WOOD ENTERPRISE SIA, BASF SE, Beltwide Inc., Berger Peat Moss, Clover Peat, Dockers LLC, Dutch Plantin Coir India Pvt. Ltd., Elva E.P.T. Ltd., Ferment LLC, Global Peat Ltd., HAWITA Gruppe GmbH, Heng Huat Resources Group Berhad, HORTIMED SIA, Jiffy Group, klasmann-Deilmann GmbH, Knaap (Thailand) Co., Ltd., KRONE IMPULSE LLC, Kumaran Fibres, Lambert Peat Moss, Linkona, Mikskaar AS, Neova Oy, Northern Peat & Moss Ltd., PEAT BASED LLC, PEATFIELD, Premier Tech Ltd., Profile Products LLC, Rajahrani Impex Private Limited, SAB Syker Agrarberatungs- und Handels GmbH, Sai Cocopeat Export Private Limited, Sun Gro Horticulture, Theriault & Hachey Peat Moss Ltd., Tippland Horticulture, and UAB SOLVIKA.

Market Segmentation & Coverage

This research report categorizes the Peat Market to forecast the revenues and analyze trends in each of the following sub-markets:

Material Type
- Fibric
- Hemic
- Sapric

Type
- High Moor Peat
- Low Moor Peat

Application
- Agriculture
- Domestic
- Fuel & Energy
- Medicine

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Peat Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Peat Market?

3. What are the technology trends and regulatory frameworks in the Peat Market?

4. What is the market share of the leading vendors in the Peat Market?

5. Which modes and strategic moves are suitable for entering the Peat Market?

Product Code: MRR-030EE48515AA

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing peat applications in the agriculture and horticulture sectors
  - 5.1.1.2. Growing adoption of peats products in water filtration systems and freshwater aquarium
  - 5.1.1.3. Surging focus on electricity generation with renewable sources
- 5.1.2. Restraints
  - 5.1.2.1. Rise in adoption of peat-free alternatives in several applications
- 5.1.3. Opportunities
  - 5.1.3.1. Ongoing R&D on the new applications and performance improvement of peat
  - 5.1.3.2. Rapidly growing adoption of peat for the production of bio-based fuel
- 5.1.4. Challenges
  - 5.1.4.1. Environmental concerns associated with peat and their ban in some countries
5.2. Market Segmentation Analysis
- 5.2.1. Material Type: Rapid growth in usage of sapric peat for establishment of wetlands
- 5.2.2. Application: Wide application of peat in agricultural sector
5.3. Market Trend Analysis
- 5.3.1. High availability of peat and growing government support to increase usage of peat in the Americas
- 5.3.2. Surging utilization of peat in Asia's abundant agricultural areas and growing market players' efforts to expand the availability of peat in the Asia-Pacific region
- 5.3.3. Increasing government support for restoration of peatland and rising focus on increasing availability of coco peat in EMEA region
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter's Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework Analysis
5.9. Client Customization

6. Peat Market, by Material Type

6.1. Introduction
6.2. Fibric
6.3. Hemic
6.4. Sapric

7. Peat Market, by Type

7.1. Introduction
7.2. High Moor Peat
7.3. Low Moor Peat

8. Peat Market, by Application

8.1. Introduction
8.2. Agriculture
8.3. Domestic
8.4. Fuel & Energy
8.5. Medicine

9. Americas Peat Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Peat Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Peat Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. £320k (USD 391.2 thousand) investment to find sustainable peat alternative
- 12.3.2. Morgan Sindall Group supporting upland peatland restoration
- 12.3.3. Sun Gro Horticulture Announces Acquisition of Pelemix.
- 12.3.4. Profile Products Receives Veriflora Certification For Sunterra Product Line.
- 12.3.5. Berger Opens New Peat Moss Mixing Plant.
- 12.3.6. EU and Finland adopt €2 billion (USD 2.08 billion) Partnership Agreement
- 12.3.7. Premier Tech Acquires Northwoods Organics.
- 12.3.8. Klassen Business Group Acquires Superior Peat in Penticton.

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio