Phosphate Rich Organic Manure (PROM) Market All Sets for Continued Outperformance

Allied Market Research recently published a report titled, "Phosphate Rich Organic Manure (PROM) Market by Source (Organic Manure, Plant-Based Bio-Mass, De-oiled Cake, Potassium Humate, and Others): Global Opportunity Analysis and Industry Forecast, 2022-2031." According to the report, the global PROM market was valued at $2.8 billion in 2021 and is projected to reach $5.7 billion by 2031, growing at a CAGR of 6.5% during the forecast period.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/16252

Key Market Drivers and Challenges

Growth Drivers:

- Increasing demand for organic fertilizers driven by sustainable agriculture practices.
- Government initiatives supporting organic farming and eco-friendly practices.

Challenges:

Limited consumer awareness regarding the benefits of PROM products impedes growth.

Opportunities:

- Innovations such as PROM production through vermicomposting.
- New product launches aimed at enhancing soil fertility and environmental safety.

Segment Insights

By Source:

Potassium Humate Segment:

Accounted for more than 40% of the market share in 2021.
Driven by widespread adoption in sustainable agriculture and environmental concerns.

Organic Manure Segment:

- Expected to register the highest CAGR of 9.1% during 2022-2031.
- Growth fueled by the rising demand for organic food and awareness about eco-friendly farming.

Regional Analysis

Asia-Pacific (APAC):

- Market Leader in 2021: Held over half of the global market share.
- Highest CAGR (7.4%) forecasted for 2022-2031 due to:
- Growing population and increased food demand.
- Expansion of organic farming practices.

Other Regions:

- North America: Anticipated to grow at a CAGR of 5.1%, driven by growing awareness of organic farming benefits.

Key Market Players

Prominent players in the PROM market include:

- 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)
- Midwestern BioAG
- Nextnode BioScience Pvt. Ltd.
- NatureSafe
- Ujjawal Biotech & Organics Pvt. Ltd.

This comprehensive analysis underscores the significant potential of the PROM market, with Asia-Pacific emerging as a dominant and rapidly growing region. New product innovations and sustainable farming practices are expected to shape the industry's future.

𝐎𝐛𝐭𝐚𝐢𝐧 𝐑𝐞𝐩𝐨𝐫𝐭 𝐃𝐞𝐭𝐚𝐢𝐥𝐬: https://www.alliedmarketresearch.com/phosphate-rich-organic-manure-prom-market-A15883

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