Phosphate Rich Organic Manure (PROM) Market Outlook - 2022–2031
The global phosphate rich organic manure (PROM) market size 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.
Organic manure (type of natural fertilizer) is used by farmers to provide proper nutrients to crops. Phosphate rich organic manure is a type of fertilizer that is used as an alternative for di-ammonium phosphate and single super phosphate fertilizers. Phosphate rich organic manure is produced with use of high-grade rock phosphate that is co-composted along with plant waste or sources such as waste from fruit industries, paddy straw waste, and press mud.
PROM is a value-added product that has 18% P2O5 and 22% moisture content. In addition, it is cheaper as compared to other phosphate substitute products such as di-ammonium phosphate (DAP). Moreover, better productivity result of crop yield has further escalated the use and adoption of PROM by global farmers. For instance, productivity of paddy crop can be increased by 29% with the usage of PROM. Change in perception of farmers and end users toward environmentally sustainable farming methods and affordable organic fertilizers will drives the demand for organic fertilizers across the globe. In addition, advantages such as subsidized prices, contribution toward minimal use of non-biodegradable raw materials in crops, and favorable government policies has further escalated the use and production of organic-based fertilizers. Phosphate rich organic manure (PROM) is used as an organic-based fertilizer and as alternative over other chemical fertilizers such as di-ammonium phosphate and single super phosphate. In addition, utilization of PROM is expected to cut down the cost associated with use of fertilizers and minimizes cost associated with fertilization process. Moreover, PROM can be used effectively with soil of neutral to high pH content. All these factors collectively drive growth of the phosphate rich organic manure market.
Nutrient content in organic manure is minimal as compared with chemicals fertilizers. In order to meet the proper nutrient content for the growth of crops, large amount of organic manure need to be added. This factor in turn increases time and thereby anticipated to hamper the phosphate rich organic manure market growth. Nitrogen content and uptake of nitrogen nutrient by the crops is utmost important. However, due to low nitrogen mineralization content and low nitrogen release rate to the crops is are predicted to restrain the growth of the global phosphate rich organic manure (PROM). Factors such as minimal nutrient level and product inconsistency associated with organic manure is predicted to hamper the phosphate rich organic manure market.
However, production of chemical fertilizers is an energy intensive process. Thus, production of phosphatic fertilizers with use of bio-conversion process is gaining importance. Bio- fertilizers (PROM) in such case is gaining importance and anticipated to offer new opportunities during the forecast period.
The global phosphate rich organic manure (PROM) market analysis is done on the basis of source type. On the basis of source type, the market is divided into organic manure, plant based bio-mass, de-oiled cake, potassium humate, and others. The phosphate rich organic manure market share is analyzed across all significant regions and countries.
The major companies profiled in this phosphate rich organic manure market report include Agri India Biotech, Biogen Fertilizer India Private Ltd., Hindustan BEC Tech India Pvt. Ltd., Jaipur Bio Fertilizers, Komeco B.V., Midwestren BioAG, Narmada Bio-chem Ltd. (NBCL), NatureSafe, Nextnode BioScience Pvt. Ltd., Ujjawal Biotech & Organics Pvt. Ltd.
Other players in the phosphate rich organic manure market are Gujarat Pavan Fertilizer Company (GPFC), Farmadil India LLP, Prabhat Fertilizer & Chemical Works, Bhoomi Phosphate Pvt. Ltd.
Phosphate Rich Organic Manure (PROM) Market, by Source Type
In 2021, the potassium humate source type was the largest revenue generator, and is anticipated to grow at a CAGR of 4.8 % during the forecast period in terms of revenue. Adoption of potassium humate as a key component in sustainable agricultural methods, as well as rising concerns about environmental consequences and soil pollution as a result of the use of chemical-based products on crops, are the primary drivers for potassium humate. Exogenous potassium humate enhances soil characteristics and boosts fertility. In addition, demand for potassium humate is expected to be driven by the availability of customized product solutions based on soil and crop type specifications, as well as demand for herbicide products due to their improved performance and ecofriendly nature.
By Source
Potassium Humate has garnerd major share in the global PROM market in 2021 and Organic Manure is projected as the most lucrative segment.
Phosphate Rich Organic Manure (PROM) Market, by region
Asia-Pacific contributed the 55.5% market share in 2021, and is projected to grow at CAGR of 7.4% during the forecast period. The increasing population in the region is the major factor driving the demand for food and large area under organic farming is driving the demand for phosphate rich organic manure in the region.
By Region
Asia-Pacific holds a dominant position in 2021 and would continue to maintain the lead over the forecast period.
Key Benefits For Stakeholders
- The report provides in-depth analysis of the global phosphate rich organic manure (PROM) market along with the current trends and future estimations.
- This report highlights the key drivers, opportunities, and restraints of the market along with the impact analysis during the forecast period.
- The phosphate rich organic manure market is provided in terms of kilotons and $million.
- Porter’s five forces analysis helps to analyze the potential of the buyers & suppliers and the competitive scenario of the global phosphate rich organic manure (PROM) market for strategy building.
- A comprehensive market analysis covers the factors that drive and restrain the global phosphate rich organic manure (PROM) market growth.
- The qualitative data about market dynamics, phosphate rich organic manure market trends, and developments is provided in the report.
Impact Of Covid-19 On The Global Phosphta Rich Organic Manure (Prom) Market
- The novel coronavirus is an unsurpassed global pandemic that has spread to over 180 countries. Global phosphate rich organic manure (PROM) market has been moderately impacted due to the wake of the COVID-19 pandemic, owing to its dependence on the agricultural sector.
- Key-players in the PROM market are coming up with new business strategies such as business expansion in order to gain edge over the competitors and increase their sales in the pandemic situation. For instance, according to report by Press Information Bureau (PIB) Mumbai, Rashtriya Chemicals and Fertilizers (RCF) (leading fertilizer producer in India) has invested Rs. 150 Crore for setting up of new Nano-Urea plant in Mumbai (Maharashtra). This plant is capable of producing 6,000 MTPA of phosphate rich organic manure. This factor is anticipated to offer new growth opportunities of PROM market in India despite of COVID-19 pandemic.
- The agriculture sector plays key role in the global economy. In addition, growing concern from governments and NGOs regarding growth of the agriculture sector globally is another considerable factor that is anticipated to escalate demand for PROM.
- Current pandemic situation in India has further raised various issues associated with use of pesticides and chemicals in the agricultural field across the globe. Initially, small land owners across the globe were facing vulnerabilities due to lockdowns and travel restrictions. This, in turn, has created financial availability problems and procurement of fertilizers and chemicals for cultivation.
- India is the 2nd largest country leading in the supply of spices, tea, and coffee. Implementation of national lockdowns has further created imbalance in the food processing sector. These are the major factors that have increased acceptance and use of organic farming. Farming and crops grown using chemical pesticides and fertilizers are vulnerable to pest attacks that in turn affects human health. This is another considerable factor that is anticipated to offer new growth opportunities for PROM market in the COVID-19 pandemic.
Phosphate Rich Organic Manure (PROM) Market Report Highlights
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Analyst Review
According to CXOs, the phosphate rich organic manure (PROM) witnessed significant growth in recent years. Phosphate rich organic manure is produced through co-compositing of high-grade rock phosphate along with plant sources such as waste from fruit industries, paddy straw waste, and press mud. PROM is a value-added product that has 18% P2O5 with 22% moisture content. In addition, it is cheaper as compared to other phosphate substitute products such as di-ammonium phosphate (DAP). Moreover, better productivity result of crop yield has further escalated the use and adoption of PROM by Indian farmers. For instance, productivity of paddy crop can be increased by 29% with use of PROM. All these factors collectively drive growth of the phosphate rich organic manure market.
In addition, side effects associated with long term use of traditional fertilizers such as DAP and monoammonium phosphate (MAP) has further created new growth opportunities in the phosphate rich organic manure market. Long term use of DAP and MAP prohibits growth of useful microorganisms that are essential for crop growth. Benefits associated with use of PROM such as cost-effectiveness, owing to minimal production steps involved and no need of using chemical catalyst further augments growth of the market. Use of PROM in agricultural fields improves supply of phosphorus content to the primary as well as surrounding (secondary) crops, thus enhancing growth of crops and minimizing use of fertilizers. Addition of PROM also minimizes the risk associated such as leaching and run-off in the cultivated crops.
Change in perception of end users (i.e., farmers) toward environmentally sustainable farming methods and affordable organic fertilizers will drive the phosphate rich organic manure market.
The global phosphate rich organic manure (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.
Biogen Fertilizer India Private Ltd., Jaipur Bio Fertilizers, Komeco B.V., Midwestren BioAG and Gujarat State Fertilizer Company (GSFC), and Narmada Bio-chem Ltd are some of the established players of the global phosphate rich organic manure (PROM) market
Organic farming industry projected to increase the demand for phosphate rich organic manure (PROM).
By Source Type o Organic Manure o Plant based Bio-Mass o De-oiled Cake o Potassium Humate o Others
Increasing organic farming across the globe is the main driver of phosphate rich organic manure (PROM) market.
COVID-19 had negative impact on demand for phosphate rich organic manure (PROM) owing to the shortage of raw material during COVID-19 pandemic.
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