The growing demand for natural agricultural enhancement products is likely to drive the global soil conditioners market over the forecast period from 2023 to 2032, according to the latest research report from Market Research Future (MRFR).
The Soil Conditioners Market overview is projected to grow from USD 6.9 Billion in 2023 to USD 14.2 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.43% during the forecast period (2023 - 2032)
Competitive Analysis:
Leading players in the global soil conditioners market include Syngenta AG, Eastman Chemical Company, Vantage Specialty Chemicals Inc., Adeka Corporation, Croda International plc, Clariant International AG, Solvay S.A., AkzoNobel N.V., BASF SE, and The Dow Chemical Company.
NuGrow was given the approval to set up a new soil conditioner manufacturing facility from compost in Bundaberg, Australia. Increasing government support to compost facilities is likely to be a major driver for the global soil conditioners market over the forecast period.
Segmentation:
The global soil conditioners market is segmented based on type, solubility, soil type, crop type, and region.
By type, the global soil conditioners market is segmented into natural and synthetic. Natural soil conditioners are likely to exhibit the highest growth rate over the forecast period, dominating the global soil conditioners market due to the growing demand for naturally sources agricultural enhancement products.
By solubility, the global soil conditioners market is segmented into water-soluble, hydrogels, and others. Water-soluble soil conditioners are likely to be the major revenue generator in the global soil conditioner market over the forecast period.
By soil type, the global soil conditioners market is segmented into peat, loam, sand, silt, clay, and others, with loam and peat expected to dominate the market in the coming years.
By crop type, the global market is segmented into fruits and vegetables, cereals and grains, pulses and oilseeds, and others. The pulses and oilseeds segment is expected to dominate the global soil conditioners market over the forecast period due to the growing demand for pulses and oilseeds.
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Regional Analysis:
Asia Pacific is likely to dominate the global soil conditioners market over the forecast period due to the growing demand for soil conditioners in countries such as India, China, and Japan. The lack of fertile soil in these regions, as well as the growing demand from the agriculture industry in these regions, is likely to remain a major driver for the soil conditioners market in Asia Pacific over the forecast period. The growing population of Asia Pacific countries is also likely to drive the demand for innovations to improve agricultural output, leading to an increasing demand for solutions that improve the fertility of the soil. The improved quality of soil conditioners in recent years as well as the increasing understanding about the processes that lead to the generation of soil conditioners is likely to be a major driver for the soil conditioners market in Asia Pacific over the forecast period.
India is likely to be a major regional market for soil conditioners within Asia Pacific over the forecast period. India’s agriculture sector has undergone massive change over the last few decades, moving from traditional, manual practices to mechanization and the use of innovative, genetically modified crops for obtaining a better output. The increasing demand for new solutions to improve the overall output of the agriculture sector is likely to be a major driver for the soil conditioners market in India over the forecast period. The widespread presence of sandy soil in India, especially in the Western state of Rajasthan, which is dominated by the Thar desert, is likely to drive the demand from the soil conditioners market over the forecast period. Increasing efforts to use Rajasthan’s vast landmass as agricultural land are likely to lead to a growing demand for soil conditioners, as significant processing is required to turn the state’s sandy soil into being suitable for agriculture. China’s increasing agriculture sector is also likely to be a major driver for the global soil conditioners market over the forecast period.
North America and Europe are also likely to retain a major share in the global soil conditioners market research over the forecast period due to the increasing demand for solutions to improve the fertility of the soil and to increase the overall agricultural output in these regions. The increasing adoption of technologically sound principles in the agriculture sector in these developed regions is also likely to drive the demand from the soil conditioners market over the forecast period.
Key Players are:
BASF SE, Syngenta AG, Novozymes A/S, The DOW Chemical Company, Adeka Corporation, Croda International PLC, Clariant International AG, Vantage Specialty Chemicals, Inc., Eastman Chemical Company, Evonik Industries AG, Akzo Nobel N.V, Solvay S.A., Lambent Corp.
TIMAC AGRO International, Loveland Products, Inc.
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