Peat Market Growth: How Coco Peat Dominates Horticulture & Organic Farming

Peat Market Outlook:

Maximize Market Research, a leading Business Consultancy Firm, has conducted an in-depth analysis of the Peat market. The comprehensive report offers key business insights, demand assessments, pricing strategies, and an in-depth look at the competitive landscape. It evaluates the current state of the Peat market with projections.

Growth Estimates for Peat Market:

The Peat Market size was valued at USD 1537.33 Million in 2023 and the total global Peat revenue is expected to grow at a CAGR of 4.22% from 2024 to 2030, reaching nearly USD 2053.80 Million by 2030.

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Latest Updates in Peat Market:

The global peat industry has experienced several notable developments recently, including mergers and acquisitions, regulatory changes, and market growth projections:

Mergers and Acquisitions:

• Sun Gro Horticulture's Acquisition of Pelemix Americas Operations: Sun Gro Horticulture announced the acquisition of Pelemix USA and Mexican businesses, aiming to strengthen their product portfolios and provide customers with a single source for both coir and peat needs.

• Premier Tech's Dual Acquisitions: In April 2022, Premier Tech announced two acquisitions by its Digital and Growers and Consumers business groups, setting the pace for a strong fiscal year. 

• Profile® Products' Acquisition of Sunterra Horticulture: Profile® Products expanded its horticulture business by acquiring Sunterra Horticulture, a sphagnum peat moss producer, bringing together two experts in advanced growing media substrates to reliably provide critical raw materials to growers and blenders.

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Regional Insights:

In the Regional Analysis section, we examine the current state of the Peat market across each participating region. Given the diverse nature of the industry, it’s crucial to consider the regional nuances. The key regions analyzed in this report include:

North America

Europe

Asia-Pacific

Latin America

Middle East & Africa

Each region’s market dynamics, such as market size, growth rates, import-export patterns, and key economic factors, are thoroughly explored.

Market Segmentation:

by Type

Coco Peat
Sod Peat
Others

The peat market is divided into three categories based on type: coco peat, sod peat, and others. A common growing media in horticulture, coco peat is made from the husks of coconuts. It is prized for its capacity to aerate soil and retain water. Turf peat, sometimes referred to as sod peat, is extracted from natural peat bogs and utilised in agriculture, gardening, and fuel production.

by End User

Agriculture
Fuel & Energy
Domestic
Medicine
Others

Agriculture, Fuel & Energy, Domestic, Medicine, and Others are the end-use segments that make up the peat market. Peat has a wide range of applications, including in home, medical, fuel and energy, and agricultural fields. With a value of USD 639.06 million in 2023, the agriculture and horticulture category dominated the peat market.

by Material Type

Sapric
Hemic
Fabric

The peat market is divided into three segments based on material type: fabric, hemisphere, and sapric. One of the peat types that has decomposed the most is sapric peat. Compared to other varieties, it is darker in colour, has a finer texture, and contains more humic acid. Because sapric peat has a lower capacity to hold water, it is utilised less frequently in horticulture. The degree of decomposition of haemic peat is moderate.

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Key Players in the Market:

The research identifies the leading players in the Peat market and provides a detailed overview of their strategies, products, market positioning, and competitive strengths.

1. Anushika Agri Products
2. Compaqpeat
3. Dutch Plantin
4. Jiffy Types International B.V
5. KK COIR
6. Klasmann-Deilmann GmbH
7. Lambert
8. Legro
9. Meadowindia
10. Neova AB
11. Rėkyva
12. Sia ETEPEK
13. Zelta zeme
14. ZIBU Ventspils SIA.

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Key Questions Answered:

• This report answers critical questions about the Peat market, including:
• What is the growth rate of the Peat market?
• What are the key factors driving market growth?
• Which industry trends and upcoming applications have the highest growth potential?
• How are recent trends impacting market revenue streams?
• Who are the top players in the Peat market, and what are their offerings?
• What segments are covered in the Peat market?
• Which application holds the most potential for growth in the Peat market?
• What challenges and opportunities are likely to shape the future of the Peat market?
• What will the Peat market's CAGR be over the forecast period?

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