PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1464684
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1464684
Soil Amendments Market size was valued at USD 4,234.56 Million in 2023, expanding at a CAGR of 10.5% from 2024 to 2032.
Soil amendments are essential for enhancing soil quality and promoting plant growth. They involve incorporating various inorganic and organic substances into the soil to improve its structure and productivity. Unlike mulching, which involves placing substances on the soil surface, soil amendments are mixed into the soil to optimize conditions for different plants and soil types. One common soil amendment is the addition of organic matter such as compost, which is cost-effective and beneficial for plant growth. In agriculture, soil amendments are utilized to provide essential nutrients, enhance soil fertility, and improve water retention capacity. Organic farmers may face unique food safety challenges related to the use of soil amendments on their farms.
Soil Amendments Market- Market Dynamics
Rising specialization in agrochemicals and the growing demand for high-yielding crops are expected to drive the expansion of the soil amendments market.
Soil amendments play a crucial role in enhancing soil quality, fertility, and structure, all of which are key elements in achieving optimal crop growth and yield. As farmers work towards increasing yields to meet the needs of a growing global population, they are exploring innovative methods to enhance soil quality and maximize crop productivity. In 2022, the EU produced 270.9 million tonnes of cereals, which is 26.7 million tonnes less than the previous year, as per Eurostat statistics. The rising demand for sustainable agriculture and the expansion of precision agriculture present growth opportunities for the market. However, a lack of awareness could impede market growth.
Soil Amendments Market- Key Insights
According to our research analyst, the global market is estimated to grow annually at a CAGR of around 10.5% over the forecast period (2024-2032)
Based on product type segmentation, Organic was predicted to show maximum market share in the year 2023
Based on Soil Type segmentation, Clay was the leading type in 2023
Based on Crop Type segmentation, Fruits and vegetables was the leading type in 2023
Based on Application segmentation, Agricultural was the leading type in 2023
Based on region, North America was the leading revenue generator in 2023
The Global Soil Amendments Market is segmented based on Product Type, Soil Type, Crop Type, Application, and Region.
The market is categorized into two segments according to the type of product: Organic and Inorganic. The dominance of the organic segment is evident in the market. The soil amendments market, particularly the organic segment, is projected to witness sustained growth due to the increasing adoption of sustainable practices by farmers and the growing preference for organic products among consumers.
The market is segmented into two categories according to Soil Type: Sand, Loam, Clay, and Silt. Clay is the predominant category. Clay particles play a crucial role in binding soil particles, enhancing water retention, and minimizing nutrient leaching. A significant advantage of clay-based soil amendments is their capacity to enhance water retention in soil.
The market is segmented into two groups according to crop Type: Cereals & Grains, Fruits & Vegetables, and Oilseeds & Pulses. Fruits & Vegetables hold the largest share in the market. The increasing consumer demand for premium, environmentally friendly fruits and vegetables is driving this trend. Consequently, farmers are facing increasing pressure to implement soil management techniques that focus on soil health and ecological sustainability.
The market is segmented into two main categories: Agricultural and industrial. The agricultural sector holds the majority share of the market. The agricultural soil amendments market encompasses a wide variety of products and techniques designed to enhance soil health, fertility, and productivity, all while supporting environmental sustainability in agriculture.
Soil Amendments Market- Geographical Insights
Geographically, this market comprises North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are subdivided into countries that contribute to business activities. The market growth in North America is projected to be at the forefront, fueled by the increasing requirement for soil conditioners. The escalating demand for soil conditioners in irrigated cropland systems reflects the necessity to address specific challenges associated with intensive irrigation practices, while simultaneously promoting sustainable soil management and maximizing crop productivity. As per the 2017 Census of Agriculture, the total irrigated cropland in the United States was reported to be 58 million acres, with a significant portion situated in the western region where irrigation is vital for crop production. The demand for soil conditioners is further amplified by the need to rehabilitate degraded lands due to urbanization and industrialization. Europe follows as the second largest region for market expansion, driven by the growing demand for sustainable agriculture.
The competitive landscape of the soil amendments market is complex, involving various factors such as product differentiation, quality, innovation, pricing, market segmentation, distribution, branding, and regulatory compliance. Suppliers invest in research and development to create new soil amendment formulations, production techniques, and application methods. Continuous innovation enables companies to lead the market by providing advanced solutions that meet changing agricultural needs and market trends. To compete successfully in the soil amendments market, efficient distribution channels are essential to reach customers across different regions and market segments.
In November 2023, BASF and Yunnan Yuntianhua Co., Ltd., a Chinese chemical fertilizer manufacturer, have initiated a trial program in China to validate the decrease in CO2e emissions achieved through the utilization of Yuntianhua's stabilized urea fertilizer, which incorporates BASF's urease inhibitor Limus. The anticipated outcomes will provide valuable backing for climate-conscious agricultural endeavors in China and potential expansion prospects worldwide.
In March 2023, Wheat farmers seeking to increase yields while reducing fertilizer inputs are set to benefit from a new collaboration between Syngenta Crop Protection and Aphea.Bio announced today.
GLOBAL SOIL AMENDMENTS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
BASF SE
Syngenta AG
Novozymes A/S
DOW Chemical Company
Adeka Corporation
Solvay S.A.
Akzo Nobel N.V.
Evonik Industries AG
Eastman Chemical Company
Vantage Specialty Chemicals, Inc
Clariant International AG
Croda International PLC.
Others