Phosphate Rich Organic Manure (PROM) Market Trends [2031]

Report Description

Phosphate Rich Organic Manure (PROM) Market Outlook 2031

The global phosphate rich organic manure (PROM) market size was USD 2.8 billion in 2022 and is likely to reach USD 5.2 billion by 2031, expanding at a CAGR of 6.5% during 2023–2031. The market growth is attributed to the beneficial properties of PROM, such as high moisture content. 

Increasing demand for organic products drives the market. Organic fertilizers such as Phosphate Rich Organic Manure (PROM) are gaining popularity as they are natural and environment-friendly. They neither harm the soil's health nor pollute the atmosphere like chemical fertilizers do. With the growing understanding of sustainable farming and reducing the chemical load on the earth, PROM is gaining traction among farmers and gardeners. It replenishes soil with necessary macronutrients and micronutrients and also aids in controlling soil erosion. 

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The report states that the COVID-19 pandemic moderately impacted the global PROM market, as various nations implemented lockdowns and travel restrictions, which disrupted the distribution and supply chain of the market. Additionally, delays in research and development activities, due to strict regulations, impede the market growth.

However, the demand for organically grown food has increased among health-conscious people, which significantly increased the demand for PROM, thereby fueling the market during the pandemic.

Phosphate Rich Organic Manure (PROM) Market Dynamics

Major Drivers

Adoption rate of PROM is increasing among farmers, due to its beneficial and value-adding characteristics, including its wide application in all kinds of crops and soils. It improves soil porosity and acts as an ideal soil conditioner. These factors are expected to boost the market during the forecast period. Additionally, increasing focus on developing sustainable and affordable farming practices increases the demand for organic manures, thus, driving the market.

Existing Restraints

Limited nitrogen mineralization and less release rate of PROM are expected to restrain the market, as the proper amount of nitrogen is important for plant growth. Moreover, product inconsistency and the inability to offer an expected nutrient level are projected to affect the market in the coming years.

Emerging Opportunities

Production of organic manures with bio-conversion processes is gaining significant popularity among the key market players across the globe. This is anticipated to create lucrative opportunities in the phosphate rich organic manure market. Furthermore, an increasing number of government initiatives and a rising number of product launches consisting of vermicomposting techniques are further projected to generate new opportunities in the market. For instance,

• In Oct 2023, according to the U.S. Department of Agriculture (USDA) partnering with farmers and American businesses to increase innovative domestic fertilizer production and to make it easier for U.S. farmers to grow food through the practice of double cropping.

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Scope of Phosphate Rich Organic Manure (PROM) Market Report

The report includes an assessment of trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Phosphate Rich Organic Manure (PROM) Market Segment Insights

Source Segment Analysis

Based on source, the phosphate rich organic manure (PROM) market is divided into organic, de-oiled cake, potassium humate, plant-based bio-mass, and others. The potassium humate segment is expected to expand at a significant growth rate during the projection period, owing to its high adoption of sustainable agricultural techniques. Potassium humate enhances soil fertility, resulting in high crop yields.

Thus, the rising adoption of potassium humate-based PROM, coupled with the growing demand for customized solutions according to crop and soil types, is expected to fuel the segment. The organic segment is anticipated to account for a significant market share during the forecast period, due to the rising awareness about environmental safety among consumers and field owners.

Organic manures prevent the consumption of toxic components through food. This surges the demand for organic manures and further fuels the segment. Additionally, the growing demand for organically grown food across the globe, due to the presence of highly health-conscious people, boosts the segment during the assessment period.

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Regional Outlook

In terms of region, the global PROM market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to dominate the market during the forecast period, due to the presence of high population densities in emerging countries, including China and India. These countries are known for having a huge landmass for farming and agriculture, which increases the demand for quality manure. This, in turn, propels the market growth in the region.

The market in North America is anticipated to expand at a rapid pace during the assessment period, owing to the high demand for naturally sourced manure material among farmers and farm owners. Strict government instructions to promote sustainable crop cultivation and yielding are further expected to drive the demand for PROM in the region, thus, boosting the market in the region.

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