India Phosphate Rich Organic Manure (PROM) Market Size at
Portland, OR, May 18, 2022 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the India Phosphate Rich Organic Fertilizer (PROM) market generated $203.2 million in 2020 and is projected to reach $419.6 million by 2030, growing at a CAGR of 6.8% from 2021 to 2030. The report provides a detailed analysis of changing dynamics of the market, major segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Rising demand for organic fertilizers, rising government support and increasing number of favorable policies are driving the growth of the Indian PROMs market. However, the disadvantages associated with the use of organic manure and fertilizers restrict the market to some extent. On the other hand, the launches of new products and the production of PROMs by vermicomposting present new opportunities in the years to come.
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- The outbreak of the COVID-19 pandemic has resulted in a global lockdown, which has created an imbalance in the agriculture and food processing sector. This has affected the overall growth of the Indian PROMs market.
- This further disrupted the entire supply chain, leading to difficulties in sourcing raw materials. This, in turn, has affected demand.
- However, the bioenergy market is expected to recover soon as major market players in the phosphate-rich organic fertilizer industry come up with new production ideas.
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The report offers detailed segmentation of the Indian PROM market based on source type.
Based on source type, potassium humate segment held the highest market share in 2020, holding more than two-fifths of the total market share, and is expected to maintain its leading status during the forecast period. However, it is estimated that the organic fertilizer segment registers Highest CAGR by 8.2% from 2021 to 2030.
Key players of India PROMs market analyzed in the research include Biogen Fertilizers India Private Ltd., Nextnode BioScience Pvt. Ltd., Jaipur Bio Fertilizer, Hindustan BEC Tech India Pvt. Ltd., Gujarat Pavan Fertilizer Company (GPFC), Farmadil India LLP, Prabhat Fertilizer & Chemical Works, Bhoomi Phosphate Pvt. Ltd., Agri India Biotech and Ujjawal Biotech & Organics Pvt. ltd.
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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 corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
Pawan Kumar, CEO of Allied Market Research, directs the organization towards the provision of high quality data and information. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.