World - Peat - Market Analysis, Forecast, Size, Trends and Insights
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The global peat market is projected to experience growth in both volume and value terms from 2022 to 2030, with a forecasted CAGR of +1.5% and +3.0% respectively. Countries like Finland, Germany, the United States, and Canada play significant roles in consumption, production, imports, and exports. Key trends include fluctuations in import prices and notable growth rates in certain countries like Russia and China.
Market Forecast
Driven by increasing demand for peat worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +1.5% for the period from 2022 to 2030, which is projected to bring the market volume to 33M tons by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +3.0% for the period from 2022 to 2030, which is projected to bring the market value to $4.9B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Peat
Global peat consumption expanded modestly to 29M tons in 2022, with an increase of 3.2% on the previous year. Over the period under review, consumption saw a relatively flat trend pattern. Over the period under review, global consumption reached the peak volume at 37M tons in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.
The global peat market value reached $3.9B in 2022, growing by 2.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the market value increased by 9.3%. Global consumption peaked in 2022 and is expected to retain growth in the immediate term.
Consumption By Country
The country with the largest volume of peat consumption was Finland (5.5M tons), comprising approx. 19% of total volume. Moreover, peat consumption in Finland exceeded the figures recorded by the second-largest consumer, Sweden (2.2M tons), threefold. The third position in this ranking was held by Germany (2.1M tons), with a 7.3% share.
In Finland, peat consumption expanded at an average annual rate of +1.4% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of consumption growth: Sweden (-4.5% per year) and Germany (+1.7% per year).
In value terms, the United States ($585M), Iran ($357M) and Germany ($248M) constituted the countries with the highest levels of market value in 2022, together accounting for 31% of the global market. The UK, Belarus, Finland, Russia, Canada, Sweden, Ireland, the Netherlands, Poland and Afghanistan lagged somewhat behind, together accounting for a further 34%.
Among the main consuming countries, Canada, with a CAGR of +13.5%, saw the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.
In 2022, the highest levels of peat per capita consumption was registered in Finland (997 kg per person), followed by Belarus (213 kg per person), Sweden (209 kg per person) and Ireland (184 kg per person), while the world average per capita consumption of peat was estimated at 3.7 kg per person.
In Finland, peat per capita consumption increased at an average annual rate of +1.2% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Belarus (-4.0% per year) and Sweden (-5.4% per year).
Production
World Production of Peat
In 2022, the amount of peat produced worldwide amounted to 30M tons, picking up by 2.9% on 2021. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the production volume increased by 18% against the previous year. Global production peaked at 37M tons in 2018; however, from 2019 to 2022, production remained at a lower figure.
In value terms, peat production contracted slightly to $3B in 2022 estimated in export price. In general, production, however, showed a slight shrinkage. The growth pace was the most rapid in 2015 with an increase of 18% against the previous year. As a result, production reached the peak level of $4.1B. From 2016 to 2022, global production growth remained at a lower figure.
Production By Country
The country with the largest volume of peat production was Finland (5.9M tons), comprising approx. 20% of total volume. Moreover, peat production in Finland exceeded the figures recorded by the second-largest producer, Germany (2.6M tons), twofold. Sweden (2.6M tons) ranked third in terms of total production with an 8.6% share.
From 2012 to 2022, the average annual growth rate of volume in Finland stood at +2.1%. The remaining producing countries recorded the following average annual rates of production growth: Germany (-1.6% per year) and Sweden (-2.5% per year).
Imports
World Imports of Peat
In 2022, purchases abroad of peat decreased by -10.6% to 10M tons for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 with an increase of 32% against the previous year. As a result, imports reached the peak of 12M tons. From 2016 to 2022, the growth of global imports failed to regain momentum.
In value terms, peat imports expanded modestly to $2B in 2022. In general, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +40.4% against 2019 indices. The pace of growth was the most pronounced in 2015 when imports increased by 93% against the previous year. As a result, imports reached the peak of $2.5B. From 2016 to 2022, the growth of global imports remained at a lower figure.
Imports By Country
In 2022, the Netherlands (1.8M tons) and the United States (1.4M tons) were the main importers of peatacross the globe, together resulting at near 31% of total imports. It was distantly followed by Germany (922K tons), France (581K tons), Belgium (537K tons), Italy (518K tons), China (505K tons) and Poland (480K tons), together mixing up a 35% share of total imports. The UK (305K tons), Spain (261K tons), Lithuania (214K tons) and the Czech Republic (175K tons) followed a long way behind the leaders.
From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +25.3%), while purchases for the other global leaders experienced more modest paces of growth.
In value terms, the United States ($501M) constitutes the largest market for imported peat worldwide, comprising 25% of global imports. The second position in the ranking was taken by the Netherlands ($206M), with a 10% share of global imports. It was followed by China, with a 6.5% share.
From 2012 to 2022, the average annual rate of growth in terms of value in the United States amounted to +6.9%. In the other countries, the average annual rates were as follows: the Netherlands (+5.0% per year) and China (+24.7% per year).
Import Prices By Country
In 2022, the average peat import price amounted to $196 per ton, with an increase of 15% against the previous year. Over the last decade, it increased at an average annual rate of +3.8%. The pace of growth appeared the most rapid in 2015 an increase of 46%. As a result, import price attained the peak level of $199 per ton. From 2016 to 2022, the average import prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($349 per ton), while Belgium ($95 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+6.5%), while the other global leaders experienced more modest paces of growth.
Exports
World Exports of Peat
After two years of growth, overseas shipments of peat decreased by -10.6% to 11M tons in 2022. The total export volume increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 14%. The global exports peaked at 12M tons in 2021, and then reduced in the following year.
In value terms, peat exports shrank to $1.9B in 2022. The total export value increased at an average annual rate of +4.3% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by 26% against the previous year. The global exports peaked at $2B in 2015; however, from 2016 to 2022, the exports failed to regain momentum.
Exports By Country
Latvia (2.1M tons), Canada (1.5M tons), Germany (1.4M tons), Estonia (1.4M tons), Lithuania (0.9M tons) and the Netherlands (0.9M tons) represented roughly 75% of total exports in 2022. Ireland (402K tons), Sweden (396K tons), Belgium (393K tons), Finland (392K tons), Belarus (307K tons) and Russia (246K tons) held a little share of total exports.
From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Russia (with a CAGR of +19.1%), while the other global leaders experienced more modest paces of growth.
In value terms, the largest peat supplying countries worldwide were Canada ($526M), Latvia ($313M) and Germany ($189M), with a combined 54% share of global exports. The Netherlands, Estonia, Lithuania, Belgium, Ireland, Russia, Sweden, Finland and Belarus lagged somewhat behind, together accounting for a further 38%.
Among the main exporting countries, Russia, with a CAGR of +17.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.
Export Prices By Country
The average peat export price stood at $176 per ton in 2022, picking up by 5.8% against the previous year. Over the last decade, it increased at an average annual rate of +2.3%. The pace of growth was the most pronounced in 2013 an increase of 20%. Over the period under review, the average export prices hit record highs at $194 per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Canada ($361 per ton), while Finland ($91 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Estonia (+3.7%), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global peat market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Company coverage:
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
The global peat market is forecast to reach $5.0B by 2030, growing at a CAGR of 3.9% during the period 2022-2030.
Global trade in peat reached the highest level ever, peaking at $2.4B in 2021. Canada and Latvia remain the world's largest peat suppliers, while the U.S. leads imports.
From 2007 to 2016, the global peat market fluctuated widely in certain years, finally dropping from X tons in 2007 to X tons in 2016, which was equal to X% decline. Over the last year, the peat market retained the level of the previous year
In 2016, the global peat imports amounted to X tons, declining by -X% against the previous year level. The total import volume increased at an average annual rate of +X% over the period from X>
In 2016, the global peat imports amounted to X tons, declining by -X% against the previous year level. The total import volume increased at an average annual rate of +X% over the period from X>
From 2007 to 2015, the peat market fluctuated mildly, finally dropping from X thousand tons to X thousand tons, which was equal to X% decline.
The global peat market fluctuated mildly from 2007 to 2015, finally dropping to X thousand tons, which was equal to X% decline against the outset level. In value terms, it stood at X million USD in 2015, rising by