Biochar Market Size, Share, Growth Analysis, By Feedstock(Woody Biomass, Agricultural Waste, Animal Manure, Others), By Technology(Pyrolysis, Gasification, Others), By Application(Electricity Generation, Agriculture, Forestry, Others), By Region - Industry Forecast 2024-2031

Biochar Market size was valued at USD 204.6 million in 2019 and is poised to grow from USD 231.4 million in 2023 to USD 700.7 million by 2031, growing at a CAGR of 13.1% in the forecast period (2024-2031).

BSEI, Airex Energy Inc., and Diacarbon Energy are key stakeholders in the Biochar manufacturing process. Several key institutes are engaged in an innovation program, Aberystwyth University, Massey University, the Federal Rural University of the Amazon, and the University of East Anglia are just a few of the research institutions involved in biochar production and R&D. The market is still at a nascent stage of development, and therefore it will take some time for full market penetration by new players. There are small and large players in the market that are collaborating and launching new and better products. Furthermore, to maintain market share and diversify product portfolios, major players frequently pursue strategies such as mergers and acquisitions, partnerships, and new product launches. 'Airex Energy Incorporation', 'Cool Planet Energy Systems', 'Pacific Pyrolysis Pty Ltd', 'Agri-Tech Producers LLC', 'Genesis Industries LLC', 'Full Circle Biochar', 'The Biochar Company', 'Earth Systems Bioenergy', 'Phoenix Energy', 'Chargrow LLC', 'Biochar Now LLC', 'Green Charcoal International', 'Clean Fuels B.V.', 'Biochar Products Inc.', 'Carbofex BV', 'Agri-Tech Producers', 'Pacific Biochar Benefit Corporation', 'Biochar Supreme LLC', 'Sonnenerde GmbH'

Players are developing novel initiatives to hold their market position and to create awareness among people to use biochar. In 2019, an NGO called African Soils launched an initiative to raise awareness among the natives regarding the benefits of biochar. Companies such as Phoenix Energy, Pacific Pyrolysis, 3R ENVIRO Tech Group, and Cool Plant Power Systems Inc. are providing pyrolysis technology to produce energy solutions. Through this, they intend to gain a competitive advantage.

Environment-conscious consumers are now using organic products in every aspect of their lives, and therefore they have seen the benefits that come with the use of biochar. This trend will further boost market growth. Biochar used in waste management will also lead to positive market growth. There are now numerous companies that produce biochar.

Asia Pacific has dominated the market, accounting for more than 27.5% of revenue in 2021. Regenerative agriculture is becoming increasingly popular in Asia-Pacific, since it improves soil biology, enhances fertility, and improves watersheds while absorbing carbon to mitigate the effects of climate change. Furthermore, with the growing need for quality food and the majority of the people being drawn to diverse organic crop foods in China, India, and Indonesia, the demand for biochar in various farming operations is increasing.