Global Soil Amendments Market to Surge at 12% CAGR
- Author Name : IMR
- Publish Date : January 7, 2021
Global Soil Amendments Market to Surge at 12% CAGR, Increasing Demand for Soil Amendments is due to the factors such as increasing understanding of soil health management, widespread accessibility of humic substances as raw materials and strong demand for high-value crops is anticipated to Propel Growth, says Index Markets Research
The demand for soil modifications is projected to reach USD 4 billion in 2020 and is expected to rise at a CAGR of 12% from 2020 to hit a value of USD 15 billion by 2030. The main reason why soil amendments are applied to the soil is to create a healthier atmosphere for roots and crop production. This involves enhancing the soil quality and water-holding capacity, nutrient levels, and soil organism living situations, which are essential for plant growth.
Key factors that drive demand for high-value crops, such as fruits and vegetables, are increased incomes, urbanization and greater awareness of the potential health benefits with fruits and vegetables. Another aspect that has promoted high-value crop agricultural production is the growth of FDI. High-value crops are often grown in lasting farmland in different regions. Furthermore, the use of soil modifications in fruits and vegetables continues to rise due to numerous benefits, such as enhanced organic soil and root quality.
Growing demands among the population for soil amendments is anticipated to enhance market demand. An increasing focus on agrochemicals is projected to drive growth in the market. It is also anticipated that the growing momentum of natural growth promoters be active on the market. Adding soil modifications to fruits and vegetables remains high due to numerous benefits, such as raised soil content and root development, drivers such as changing climatic conditions, increasing soil health concerns, and rising demand for high-yield crops are expected to drive soil modification market development.
Due to large fertile land, significantly higher rural population and beneficial climatic conditions, Asia Pacific is considered an important market for agricultural products. The area registered for 37% of the international market’s revenue share in 2018. Despite these optimal circumstances, the region is experiencing rapid degradation of soils and insufficiency of infrastructure. Enlarging population combined with growing farming activities is anticipated to occur in high reliance on conditioners led to significant land reuse. Compost is the additive most frequently used on the soil of Asia Pacific.
Key Players in the Market:
Some of the key players operating in the Soil Amendments Market are UPL (India), FMC Corporation (US), Adama (Israel), Evonik Industries AG (Germany), Bayer (Germany), Novozymes A/S (Denmark), Agrinos (Norway), T.Stanes & Company (India), Lallemand Inc. (Canada), SA Lime & Gypsum (South Africa),Timac Agro (France), Biosoil Farms (US), Haifa Group (Israel), Symborg (Spain), and Soil Technologies Corporation (US).
Get Valuable Insights into Soil Amendments Market:
In the new report, Index Markets Research thrives to present an unbiased analysis of the global Soil Amendments Market that covers the historical demand data as well as the forecast figures for the period, i.e. 2020-2030. The study includes compelling insights into growth that is witnessed in the market. The market is segmented by type into organic and inorganic, and by form into dry and liquid. By crop type, the market is divided into Cereals & Grains, Fruits & Vegetables, and Oilseeds & Pulses. By soil type, the market is divided into loam, clay, silt and sand. Geographically, the market is segmented into North America, Latin America, Europe, APAC and MENA.
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