Soil Amendments Market is Projected to Witness Significant Growth in Coming Years

Soil Amendments Market by Type (Organic and Inorganic), Soil Type (Loam, Clay, Silt, and Sand), Crop Type (Cereals & Grains, Fruits & Vegetables, and Oilseeds & Pulses), Form (Dry and Liquid), and Region - Global Forecast to 2025

Posted on 2021-01-22 by MarketsandMarkets in Agriculture // 0 Comments

The soil amendments market is estimated to account for a value of USD 3.7 billion in 2020 and is projected to grow at a CAGR of 10.7% from 2020, to reach a value of USD 6.2 billion by 2025. The global market is projected to witness significant growth due to factors such as growing awareness about soil health management, easy availability of humic substances as raw materials, and strong demand for high-value crops.

The main reason for adding soil amendments to the soil is to provide a better environment for roots and plant growth. This includes the improvement of soil structure and water-holding capacity, availability of nutrients, and living conditions for soil organisms, which are important for plant growth.

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Major factors driving the demand for high-value crops, such as fruits & vegetables, are rise in incomes, rapid urbanization, and growth in awareness about the health benefits associated with fruits & vegetables. Another factor that has encouraged the agricultural production of high-value crops is the increase in foreign direct investment (FDI). High-value crops are mostly grown in permanent croplands in various regions.

Moreover, the application of soil amendments in fruits & vegetables remains high due to various advantages, such as increased organic content in the soil and root growth.

Among organic soil amendments, the biofertilizers segment is estimated to account for the largest market share in 2020. Biofertilizers are offered at low prices and are applied in small dosages, in comparison with chemical fertilizers. Besides affecting the crops directly, they increase the population of soil microorganisms. They also secrete plant hormones, which favor germination and root growth. Phosphate solubilizing and mobilizing biofertilizers secrete organic acids and lower the pH in the nearby soil, which dissolves phosphates in the soil. Due to these benefits, biofertilizers are highly adopted in all organic amendments.

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Key players in the soil amendments market include BASF SE (Germany), Bayer AG (Germany), FMC Corporation (US), UPL Ltd. (India), and ADAMA Agricultural Solutions Ltd. (Israel). Product innovations, expansions & investments, acquisitions, agreements, collaborations, approvals, and partnerships were some of the core strengths of the leading players in the soil amendments market.

These strategies were adopted by the key players to increase their market presence. It also helped them diversify their businesses geographically, strengthen their distribution networks, and enhance their product portfolios. Some of the other leading players in the soil amendments market include Nufarm (Australia), Evonik Industries (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), Profile Products LLC (US), The Fertrell Company (US), Haifa Group (Israel), Symborg (Spain), Soil Technologies Corp (US), and Delbon (France).

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