The global peat market, valued at nearly USD 4.19 billion in 2024, continues to maintain relevance across horticulture, energy briquettes, soil conditioners, and speciality substrates, despite rising sustainability concerns and environmental regulations. Global peat production, particularly from Finland, Canada, and the Baltic states, supports active international peat trade, with imports and exports surpassing USD 1.01 billion in 2024, supplying major consumer hubs in Europe and the Asia-Pacific. The U.S. peat market remains comparatively modest, with a domestic mining value of USD 12 million, reflecting heavy dependence on imported peat volumes. Europe dominates peat consumption, while Asia-Pacific emerges as the fastest-growing region, fueled by expanding commercial horticulture, turf management, and energy applications.
Peat overview
Published by MMR Statistics Research Team, Updated
