Peat Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Peat Market Trends and Forecast

The future of the peat market looks promising with opportunities in the agriculture, energy, and biofiltration applications. The global peat market is expected to reach an estimated $6.0 billion by 2028 with a CAGR of 7.2% from 2023 to 2028. The major drivers for this market are increasing agricultural production and food demand, increasing use of peat to warm homes and fire whiskey distilleries, and huge need for this product in horticulture to supply an ideal base for plants.

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Peat Market by Segment

The study includes a forecast for the global peat market by product type, application, and region, as follows:

Peat Market by Product Type [Value ($B) Shipment Analysis from 2017 to 2028]:

• Sepric
• Hemic
• Fabric

Peat Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:

• Agriculture
• Energy
• Biofiltration
• Others

Peat Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Peat Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies peat companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the peat companies profiled in this report include:

• Global Peat
• T & J Enterprises
• Stender
• Neova
• Klasmann-Deilmann

Peat Market Insights

• Lucintel forecasts that hemic will remain the larger segment over the forecast period due to its substantial application in agriculture and horticulture as these are organic material, which are partially degraded.
• Agriculture is expected to remain the largest segment due to the considerable application of this product in agriculture to keep soil moist and also provides protection from water when the product is dry.
• North America will remain the largest region as agriculture is heavily commercialized and merchandised in countries like Canada and the U.S.A.

Features of the Peat Market

• Market Size Estimates: Peat market size estimation in terms of value ($B)
• Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
• Segmentation Analysis: Peat market size by various segments, such as by product type, application, and region
• Regional Analysis: Peat market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different by product type, application, and regions for the peat market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the peat market.
• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

• Q1. What is the peat market size?
• Answer: The global peat market is expected to reach an estimated $6.0 billion by 2028.
• Q2. What is the growth forecast for peat market?
• Answer: The global peat market is expected to grow with a CAGR of 7.2% from 2023 to 2028.
• Q3. What are the major drivers influencing the growth of the peat market?
• Answer: The major drivers for this market are increasing agricultural production and food demand, increasing use of peat to warm homes and fire whiskey distilleries, and huge need for this product in horticulture to supply an ideal base for plants.
• Q4. What are the major segments for peat market?
• Answer: The future of the peat market looks promising with opportunities in the agriculture, energy, and biofiltration applications.
• Q5. Who are the key peat companies?
• Answer: Some of the key peat companies are as follows:
  • Global Peat
  • T & J Enterprises
  • Stender
  • Neova
  • Klasmann-Deilmann
• Q6. Which peat segment will be the largest in future?
• Answer:Lucintel forecasts that hemic will remain the larger segment over the forecast period due to its substantial application in agriculture and horticulture as these are organic material, which are partially degraded.
• Q7. In peat market, which region is expected to be the largest in next 5 years?
• Answer: North America will remain the largest region as agriculture is heavily commercialized and merchandised in countries like Canada and the U.S.A.
• Q8. Do we receive customization in this report?
• Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the peat market by product type (sepric, hemic, and fabric), application (agriculture, energy, biofiltration, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?