Biochar Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The market for Biochar market is expected to grow at a CAGR of 15% globally during the forecast period (2022-2027).
Due to COVID-19, the economies of several countries have been badly affected, and several industries' growth and production have declined. Due to the lockdown restrictions, the manufacturing sector is the most affected worldwide, impacting the market. However, the market is currently reached pre-pandemic levels.
Over the medium term, increasing applications for plant growth and development and growing demand for organic foods in developing countries are expected to drive the demand for the market studied.
On the flip side, the risk of contamination and soil erosion is expected to hinder the growth of the market in the coming years.
Furthermore, numerous upcoming projects in the United Kingdom are expected to increase the demand for biochar over the forecast period.
Key Market TrendsGrowing Demand from AgricultureThe global biochar market is partially consolidated in nature with a few major players dominating a significant portion of the market. Some of the major companies are Biochar Industries, Biochar Supreme, Swiss Biochar GmbH, ArSta Eco, and Airex Energy, among others (Not in any particular order).
Additional Benefits:Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook