Phosphate Rich Organic Manure (PROM) Market Demand Analysis, Future Strategies, Growth Statistics, Revenue and Forecast to 2031

The increasing demand for organic fertilizers, coupled with proactive government initiatives, is fueling the expansion of the global phosphate rich organic manure (PROM) market.

Allied Market Research recently released a comprehensive 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% from 2022 to 2031.

Download Sample Pages of Research Overview: https://www.alliedmarketresearch.com/request-sample/A15883

Key Growth Factors:

The market's growth is primarily driven by the increasing demand for organic fertilizers and strong governmental support for sustainable agriculture. However, low consumer awareness remains a challenge, restraining market expansion. Nevertheless, the introduction of new PROM products and innovations in vermicompost-based production methods are expected to unlock lucrative opportunities in the coming years.

Market Segmentation by Source:

By source, the potassium humate segment emerged as the dominant player in 2021, holding more than 40% of the global market share. This dominance is attributed to its widespread adoption in sustainable agricultural practices and increasing concerns about soil pollution. Meanwhile, the organic manure segment is expected to witness the highest growth, registering a CAGR of 9.1% during the forecast period. The rising demand for organic food and growing awareness about environmental safety are key drivers for this segment's growth.

Regional Analysis:

Geographically, Asia-Pacific, followed by Europe and North America, led the market in 2021, accounting for more than half of the global PROM market. Asia-Pacific is also expected to register the highest CAGR of 7.4% from 2022 to 2031, driven by rapid population growth, increasing food demand, and the expansion of organic farming practices. North America is projected to grow at a CAGR of 5.1% during the same period.

Key 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)

- Midwestern BioAG

- Nextnode BioScience Pvt. Ltd.

- NatureSafe

- Ujjawal Biotech & Organics Pvt. Ltd.

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

Contact:

David Correa

United States

1209 Orange Street,

Corporation Trust Center,

Wilmington, New Castle,

Delaware 19801 USA.

Int'l: +1-503-894-6022

Toll Free: +1-800-792-5285

Fax: +1-800-792-5285

help@alliedmarketresearch.com

About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.