Global biochar markets are expected to reach $5.88 billion by 2022, according to a new report by Grand View Research, Inc. The importance of increasing agricultural productivity and crop yield is expected to augment market growth over the next seven years. The rise of biochar consumption in agriculture is owed to its ability to improve soil conditions and nutrient availability in cropping systems.
Global demand for pyrolysis in biochar production was 629.6 kilo tons in 2014. Pyrolysis technology is the most commonly used technology as it allows manufacturers to produce large quantities with high levels of carbon content. Agriculture was the largest application segment, accounting for 85% of global market volume in 2014. A growing food sector due to a rising global population along with increasing consumer awareness regarding quality is expected to serve as key factor for market growth.
Biochar’s ability to improve soil fertility coupled with high crop yield will serve as growth opportunities in the near future. Biochar is also suitable for use in organic crop production; with recent food trends and the continued growth of the organic market, there is an expected increase in biochar demand for organic crop production.
According to the report, organic farming is expected to gain share on account of growing consumer demand in Europe and North America in light of its health benefits, which is expected to propel biochar requirements. The U.S. is expected to augment expansion owing to rising adoption of biochar in organic food as it increases crop production. Growing organic food production trade is major factor which is expected to drive industry demand over the next seven years.