Market Overview
Peat is used in a wide variety of applications, due to their capability of offering superior moisture resistance to the final product.

Thus, they are used in various applications such as fuel & energy, agriculture, domestic, medicine, and others.

The global peat market is spanned across five regions of the world namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among these, North America is projected to grow at a remarkable rate in the global market and is projected to continue leading owing to the increasing consumption of peat in agriculture, fuel & energy, domestic, medicine, and others.

It is estimated that the agriculture segment is set to observe the highest CAGR in the market due to growing consumption of the product in end-use applications..

Competitive Landscape
Some of the well-known players operating in the global peat market are Vapo (Finland), Stender AG (Germany), Oulun Energia Oy (Finland), Neova AB (Sweden), Klasmann-Deilmann GmbH (Germany), Cocogreen® (Sri Lanka), Globalcoirs( India), BORD NA MÓNA( Republic of Ireland), Jiffy Products International B.V. ( the Netherlands), and PEAT LAND UKRAINE LLC ( Ukraine),

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Market Segmentation
The global Peat market industry is segmented into the type and application. On the basis of the type, the market is segregated into fabric, hemic, sepric, and other segments. On the basis of the application, the market is bifurcated into fuel & energy, agriculture, domestic, medicine, and others.

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Regional Analysis
Secondary Types and MRFR Analysis The market in North America is expected to dominate the market for peat during the forecast period. The increasing adoption of modern agriculture practices, the growing use of renewable energy sources owing to environmental concerns, and the rising industrial adoption of peat are the major factors driving the global peat market. The US is the major country-level market in the region. Asia-Pacific is projected to register the highest CAGR during the forecast period. China, India, and Japan are contributing significantly to the increasing demand in Asia-Pacific.

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