Global Soil Amendments Market Size 2024, Forecast To 2033
6 Mar, 2024
The soil amendments market has undergone rapid growth, escalating from $4.2 billion in 2023 to $4.68 billion in 2024, reflecting a compound annual growth rate (CAGR) of 11.5%. This significant expansion in the historical period is associated with factors such as government subsidies and incentives, concerns about soil erosion, the adoption of organic farming trends, the implementation of crop rotation practices, and increased awareness and education. Moving forward to 2028, the market is poised for continued rapid growth, reaching $6.89 billion with a CAGR of 10.2%. This projected growth is fueled by the adoption of precision agriculture, adaptation to climate change, the incorporation of regenerative agriculture practices, adherence to government regulations, and initiatives promoting a circular economy. Noteworthy trends in this forecasted period encompass technological innovations, the increased use of organic soil amendments, microbial soil enhancers, precision agriculture, and soil testing, as well as the integration of biochar.
Global Soil Amendments Market Key Driver
The growing concern regarding soil degradation is anticipated to fuel the growth of the soil amendments market. Soil degradation, characterized by the loss of soil quality or fertility due to natural or human-induced factors, is driven by intensive agricultural practices, deforestation, urbanization, and climate change. To address these concerns, soil amendments are introduced to enhance soil quality by re-establishing microbial populations, balancing pH, adding organic matter, improving water holding capacity, and reducing compaction. According to the United Nations Convention to Combat Desertification (UNCCS) in November 2022, one-fifth of the world's population resides and works on degraded agricultural land, with an estimated 40% of the world's soil already degraded and a potential for 90% degradation by 2050. Additionally, 10 to 12 million hectares of farmland are lost annually to soil degradation. The increasing apprehension about soil degradation is expected to drive the growth of the soil amendments market in 2023, 2024, and 2028.
Get A Free Sample Of The Global Soil Amendments Market ReportGlobal Soil Amendments Market Segments
The soil amendments market covered in this report is segmented –
1) By Soil Type: Clay, Sand, Loam, Silt
2) By Crop Type: Cereals And Grains, Oilseeds And Pulses, Fruits And vegetables, Other Crop Types
3) By Product: Organic, Inorganic
4) By Form: Dry, Liquid
5) By Application: Construction And Mining, Agriculture And Gardening, Other Applications
By Geography:The regions covered in the soil amendments market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
North America was the largest region in the soil amendments market in 2023. The regions covered in the soil amendments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Soil Amendments Industry Players
BASF SE, UPL Limited, FMC Corporation, Adama Agricultural Solutions Ltd., Bayer AG, Novozymes A/S, Lallemand Inc., T Stanes & Company, Evonik Industries AG, Nufarm Ltd., DOW Inc., Greenfield Eco Solutions Pvt. Ltd., Gujarat State Fertilizers and Chemicals Limited, Oro Agri Europe S.A, Compagnie de Saint-Gobain S.A., SANOWAY GmbH, Eastman Chemical Company, Vantage Specialty Chemicals Inc., Clariant International Ltd., Croda International plc, Solvay S.A., Syngenta AG, ADEKA CORPORATION, Akzo Nobel N.V., BioWorks Inc., Biochar Now LLC, Bio Soil Enhancers Inc., Black Diamond Vermicompost, Blue Planet Environmental Solutions Pte. Ltd., Carbon Gold Ltd., Earth Science Laboratories Inc.
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Soil Amendments Market Overview
Soil amendments refer to substance applied to soil to enhance its physicochemical or biological characteristics. It is commonly used to create a better environment for plant growth by enhancing soil fertility, and water-holding capacity.
Soil Amendments Global Market Report 2023 provides data on the global soil amendments market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The soil amendments market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.