Phosphate Rich Organic Manure (PROM) Market Growth

The Phosphate Rich Organic Manure (PROM) market has been steadily growing due to the increasing demand for organic and sustainable farming practices.

WILMINGTON, DELAWARE, UNITED STATES, November 22, 2023 /EINPresswire.com/ -- The Phosphate Rich Organic Manure (PROM) market has been steadily growing due to the increasing demand for organic and sustainable farming practices. PROM is a type of organic fertilizer that contains a high amount of phosphorus along with organic matter, providing plants with essential nutrients for growth.

As per the report, the global phosphate rich organic manure (PROM) industry accounted for $2.8 billion in 2021, and is expected to reach $5.7 billion by 2031, growing at a CAGR of 6.5% from 2022 to 2031.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/14905

𝐒𝐞𝐯𝐞𝐫𝐚𝐥 𝐟𝐚𝐜𝐭𝐨𝐫𝐬 𝐜𝐨𝐧𝐭𝐫𝐢𝐛𝐮𝐭𝐞 𝐭𝐨 𝐭𝐡𝐞 𝐠𝐫𝐨𝐰𝐭𝐡 𝐨𝐟 𝐭𝐡𝐞 𝐏𝐑𝐎𝐌 𝐦𝐚𝐫𝐤𝐞𝐭:

𝐎𝐫𝐠𝐚𝐧𝐢𝐜 𝐅𝐚𝐫𝐦𝐢𝐧𝐠 𝐓𝐫𝐞𝐧𝐝𝐬: With a rising preference for organic produce, farmers are turning towards organic fertilizers like PROM to maintain soil fertility without relying on synthetic chemicals.

Increase in demand for organic fertilizers and rise in government initiatives have boosted the growth of the global phosphate rich organic manure (PROM) market. However, low consumer awareness hinders the market growth. On the contrary, new product launches and production of PROM using vermicompost are expected to unlock new opportunities in the future.

𝐄𝐧𝐯𝐢𝐫𝐨𝐧𝐦𝐞𝐧𝐭𝐚𝐥 𝐂𝐨𝐧𝐜𝐞𝐫𝐧𝐬: PROM aligns with sustainable agricultural practices by promoting soil health and reducing environmental degradation caused by excessive use of chemical fertilizers.

𝐆𝐨𝐯𝐞𝐫𝐧𝐦𝐞𝐧𝐭 𝐈𝐧𝐢𝐭𝐢𝐚𝐭𝐢𝐯𝐞𝐬: Many governments support organic farming and offer incentives or subsidies for the use of organic fertilizers, which boosts the PROM market.

The potassium humate segment held the largest share in 2021, accounting for more than two-fifths of the global phosphate rich organic manure (PROM) market, due to adoption of potassium humate in sustainable agricultural methods and increased concerns about environmental consequences and soil pollution. However, the organic manure segment is expected to register the highest CAGR of 9.1% during the forecast period, owing to rise in demand for organic food and increased awareness regarding environmental safety.

𝐀𝐰𝐚𝐫𝐞𝐧𝐞𝐬𝐬 𝐚𝐧𝐝 𝐄𝐝𝐮𝐜𝐚𝐭𝐢𝐨𝐧: Increased awareness among farmers and consumers about the benefits of organic farming has led to a higher demand for organic fertilizers like PROM.

𝐂𝐫𝐨𝐩 𝐘𝐢𝐞𝐥𝐝 𝐚𝐧𝐝 𝐐𝐮𝐚𝐥𝐢𝐭𝐲: PROM is known to improve crop yield and quality by enhancing soil fertility, which further drives its adoption in agriculture.

The market across Asia-Pacific, followed by Europe and North America, dominated the market in 2021, holding more than half of the global phosphate rich organic manure (PROM) market. In addition, the region is expected to register the highest CAGR of 7.4% during the forecast period, owing to rise in population in the region and increased demand for food and large area for organic farming. The market across North America is expected to register a CAGR of 5.1% from 2022 to 2031.

The PROM market encompasses various players offering different formulations and concentrations of phosphate-rich organic manure. This market's growth is not only influenced by the product's effectiveness but also by factors such as distribution channels, pricing strategies, and technological advancements in manufacturing processes.

However, challenges like limited availability of raw materials, variations in product quality, and pricing competitiveness against synthetic fertilizers persist within the PROM market.

The future of the PROM market largely depends on continued research and development for innovative formulations, regulatory support for organic farming, and the willingness of farmers to adopt sustainable agricultural practices.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬: -

- 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)

- Midwestren BioAG

- Nextnode BioScience Pvt. Ltd.

- NatureSafe

- Ujjawal Biotech & Organics Pvt. Ltd.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐢𝐧 𝐏𝐫𝐨𝐜𝐮𝐫𝐢𝐧𝐠 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐕𝐢𝐬𝐢𝐭 𝐇𝐞𝐫𝐞: https://www.alliedmarketresearch.com/phosphate-rich-organic-manure-prom-market/purchase-options

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

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