The market for the biochar market is expected to grow at a CAGR of more than 7% globally during the forecast period.
The demand for growing high-quality crops for organic food and continuous development in farming are the key driving factors for the market growth.
Soil Erosion and Contamination risk are the primary issues while extracting the biochar from the earth and can restrict the market growth.
Key Market Trends
Growing Demand from Agriculture
- The use of Biochar has been gradually increasing in developing countries because it can improve the physical and chemical properties of soil and increases soil fertility and productivity to increase crop strength and growth with fewer emissions.
- The special ability of Biochar is to retain nutrients and water in the surface soil horizons.
- Biochar benefits agriculture crops and plants by reducing nutrients leaching from the crop root zone and fertilizer requirements by improving land cultivation because biochar produces an effect called liming effect to balance acidic soil towards a neutral pH.
- In developing countries, governments are encouraging people to use biochar for farming as it can minimize greenhouse gases like nitrous oxide and methane emissions.
- Developed countries are attracted to sustainable agriculture because of its advantages. Recently, the demand for biochar from both developed and developing is on a constant rise, with an increase in technological advancements in sustainable agriculture.
Asia Pacific Region to Dominate the Market
- Regenerative agriculture in Asia-Pacific has been increasing significantly as this farming increases fertility, soil biology and improves watersheds while capturing carbon to reverse the effects of climate change.
- Moreover, the growing need for quality food and with the most population getting attracted to various organic crop foods in China, India as well as in Indonesia, the demand for biochar is augmenting in various farming processes.
- According to the International Biochar Initiative (IBI), China is the world leader in chemical fertilizer production, consumption, and imports. China shifted to biochar as a research group at the China CNRCB has been declared that using biochar in soils, improves soil cation exchange capacity (CEC) and reducing the number of required chemical fertilizers.
- In India, biochar usage is growing more in cooking stoves, pyrolysis of agricultural residues, to enhance the living conditions of rural families, to increase crop production and removal of carbon from the atmosphere.
The global biochar market is partially consolidated in nature with a few major players dominating a significant portion of the market. Some of the major companies are Biochar Industries, Biochar Supreme, Swiss Biochar GmbH, ArSta Eco and Airex Energy, among others.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support