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Peat Market Size & Share, by Material Type (Fibric, Hemic, Sapric); Application (Agriculture, Domestic, Fuel, Energy, Medicine) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2025-2037

  • Report ID: 3334
  • Published Date: Dec 24, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2025-2037

Peat Market size was valued at USD 3.76 billion in 2024 and is likely to cross USD 6.75 billion by 2037, expanding at more than 4.6% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of peat is estimated at USD 3.91 billion.

The growth of the peat market can be attributed to the growing number of industrial activities around the world, increasing usage of renewable energy sources as a result of environmental concerns, and rising demand for food and agricultural activities globally. According to the World Bank, the industrial output of the world as a share of the total world GDP was calculated to be 24.789% in 2019. The world GDP share for manufacturing was 14.562% for that year. In addition to these, surge in population growth coupled with the increase in demand for electricity is also projected to drive market growth in the upcoming years. Furthermore, over the last few years, peat is extensively being used as an oil absorbent for cleaning oil spills, and for the purpose of biofiltration for air and water, which is another crucial factor expected to result in the expansion of market in the future.

Global-Peat-Market-Overview
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Growth Drivers

  • Increasing Industrial Activities Worldwide
  • Growing Usage of Renewable Energy Sources

Challenges

  • Issues Related to Pollution Caused by Burning Dry Peat

Peat Market: Key Insights

Report Attribute Details

Base Year

2024

Forecast Year

2025-2037

CAGR

4.6%

Base Year Market Size (2024)

USD 3.76 billion

Forecast Year Market Size (2037)

USD 6.75 billion

Regional Scope

  • North America (U.S., and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, Malaysia, Australia, South Korea, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Peat Segmentation

The market is segmented by material type into fibric, hemic, sapric, and others, out of which, the fibric segment is anticipated to hold the largest share in the global peat market on account of the wide use of this type of peat in various applications across the globe, and the ability of fibric peat to stimulate plant growth and root development effectively. Additionally, on the basis of application, the segment for agriculture is assessed to occupy the largest share over the forecast period, which can be ascribed to the high usage of peat for the production of organic fertilizer and as a garden soil, and as a significant component of garden plant substrates. 

Our in-depth analysis of the global market includes the following segments

By Material Type
  • Fibric
  • Hemic
  • Sapric
  • Others

By Application
  • Agriculture
  • Domestic
  • Fuel and Energy
  • Medicine
  • Others
Vishnu Nair
Vishnu Nair
Head - Global Business Development

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Peat Industry - Regional Synopsis

Europe Market Statistics

On the basis of geographical analysis, the global peat market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Europe industry is likely to hold largest revenue share by 2037, propelled by presence of large number of peatlands in various countries of the continent, especially in British Isles and Scandinavia.

Latin America Market Analysis

Moreover, the peat market in Latin America is predicted to witness notable growth during the forecast period owing to the presence of favorable climate conditions that support the growth of tropical peat, namely in countries such as Brazil, Peru, Argentina, Colombia and Venezuela.

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Companies Dominating the Peat Landscape

    • Elva E.P.T. Ltd.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Global Peat Ltd
    • Stender AG
    • Oulun Energia Oy
    • Klasmann-Deilmann GmbH
    • PEAT LAND UKRAINE LLC
    • Klasmann-Deilmann GmbH
    • Neova Oy
    • Globalcoirs  

Recent Developments

  • May 6, 2021: Neova is aiming to enhance the continuous growth of profitability by investing in renewables and infrastructure in services. The strategy is focused to digitize services in the energy business and develop new products from peat.

  • Report ID: 3334
  • Published Date: Dec 24, 2024
  • Report Format: PDF, PPT
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Frequently Asked Questions (FAQ)

In the year 2025, the industry size of peat is estimated at USD 3.91 billion.

Peat Market size was valued at USD 3.76 billion in 2024 and is likely to cross USD 6.75 billion by 2037, expanding at more than 4.6% CAGR during the forecast period i.e., between 2025-2037.

Europe industry is likely to hold largest revenue share by 2037, propelled by presence of large number of peatlands in various countries of the continent, especially in British Isles and Scandinavia.

The major players in the market are Elva E.P.T. Ltd., Global Peat Ltd, Stender AG, Oulun Energia Oy, and others.

Peat Market Report Scope

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Dhruv Bhatia
Dhruv Bhatia
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