Global Biochar Market Size to Reach USD 516.86 Million in 2028: By Xcellent Insights

Growing demand for sustainable agricultural practices is a key factor expected to drive global market growth during the forecast period

PUNE, MAHARASHTRA, INDIA, April 21, 2023/EINPresswire.com/ — The global biochar market size was USD 284.56 million in 2021 and is expected to register a rapid revenue CAGR of 8.75% during the forecast period. Key factors such as rapidly expanding agricultural industry, increasing concerns about soil degradation and nutrient depletion, and growing inclination towards organic and eco-friendly agricultural products are expected to drive global market growth during the forecast period.

Biochar is a type of charcoal produced by heating organic materials such as wood, crop residue, animal manure, or agricultural waste in the absence of oxygen. Biochar is typically produced at high temperatures, which drives off volatile compounds and leaves behind a porous material with a large surface area. This porous structure enables biochar to act as a sponge, absorbing and holding onto water, nutrients, and other beneficial soil micro-organisms. Demand for biochar has taken a significant surge as farmers are becoming aware of the advantages offered by biochar. It helps in improving soil fertility and production, reduces greenhouse gas emissions, and mitigates climate changes.

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Factors such as increasing research and development activities, rising number of product launches, increasing international trading of agricultural bio-products, and favorable government policies to promote sustainable agricultural practices and biochar are expected to drive global market growth between 2023 and 2028.

However, high production and application cost of biochar, low purchasing power in emerging economies, and low awareness about advanced farming techniques are expected to hamper overall market growth to a certain extent during the forecast period.

Wood-based Biochar Segment to Register Rapid Revenue CAGR:

The wood-based biochar segment revenue is expected to expand at a rapid growth rate over the forecast period. This can be attributed to increasing demand for natural and organic eco-friendly products, high focus on improving soil texture and fertility, and increasing usage of wood-based biochar as a promising solution for improving soil health and eliminating the need for synthetic fertilizers and pesticides.

Soil Conditioner Segment to Account for Largest Revenue Share:

The soil conditioner segment is expected to account for largest revenue share between 2023 and 2028. Factors such as increasing concerns about soil and nutrient depletion, rising awareness about benefits of biochar among farm owners, and high usage of biochar to improve structure, texture, water-holding capacity, and fertility of the soil, and reduce greenhouse emission by sequestering carbon are expected to drive segment revenue growth over the forecast period.

Asia Pacific to Register Rapid Revenue Growth:

Asia Pacific market is expected to register rapid revenue growth during the forecast period owing to rapidly expanding agricultural sector, rising preference for sustainable farming practices, and growing awareness about importance of biochar for soil improvement and carbon sequestration. In addition to this, rising government initiatives to promote sustainable agriculture practices, high focus on waste management, and increasing investments in developing advanced techniques are expected to drive Asia Pacific market growth during the forecast period. China, Japan, India, and South Korea are some of the largest revenue-contributing countries in the region.

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Biochar Market by Company:

• Cool Planet
• Biochar Supreme
• NextChar
• Terra Char
• Carbon Gold
• ElementC6
• Swiss Biochar GmbH
• Pacific Biochar
• Biochar Now
• The Biochar Company (TBC)
• BlackCarbon
• Carbon Terra
• Terra Humana
• Liaoning Jinhefu
• Hubei Jinri Ecological Energy
• SEEK

Biochar Industry Recent Developments:

• In December 2022, EVOIA Inc. announced the launch of a biochar-based seed treatment product, AmpliFYR that can be used in wheat, corn, soybeans, and other row crops.
• In December 2022, Malachite Innovations, Inc., a public company focused on enhancing health and wellness of people and the planet, announced the launch of Terra Preta, Inc., a wholly-owned business that develops proprietary forms of biochar for water filtration and agriculture sectors.
• In May 2022, Carbon Streaming Corporation launched its first biochar carbon steam with restoration bioproducts.
• In March 2022, Carbon Gold launched two new biochar products, Biochar Houseplant Booster and Biochar Compost Rejuvenator to strengthen growth in indoor plants and revive old composts.

Biochar Market Segment by Type:

• Wood-based Biochar
• Corn Straw Biochar
• Rice Straw Biochar
• Wheat Straw Biochar
• Others

Biochar Market Segment by Application:

• Soil Conditioner
• Fertilizers

Biochar Market Segment by Region:

• North America (USA, Canada)
• Europe (Germany, France, UK, Italy, Russia)
• Asia Pacific (China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Philippines, Vietnam)
• Latin America (Brazil, Argentina)
• Middle East & Africa (Turkey, Saudi Arabia, U.A.E)

Key Questions Addressed:

• What key factors are expected to drive global market growth during the forecast period?
• Which factors are expected to restrain global market growth between 2023 and 2028?
• Who are the key companies operating in the market?
• What are the recent developments expected to happen in the global market between 2023 and 2028?
• What are the technological advancements and market trends shaping the market?
• What are some of the key challenges that can hamper overall market growth during the forecast period?

Key Benefits of the Report:

• Industry drivers, restraints, and opportunities covered in the report
• Market structure and projections for the coming years
• Neutral perspective on the market performance
• Recent trends and developments in the industry
• Competitive landscape and strategies used by market players
• Potential and niche segments and key regions exhibiting promising growth
• Historical, current and projected market size

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Susan W
Xcellent Insights LLP
+1 408-627-7717
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