Soil Amendments Global Market Report 2023
Major players in the soil amendments market are 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.
New York, June 09, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Soil Amendments Global Market Report 2023" - https://www.reportlinker.com/p06466707/?utm_source=GNW
, DOW Chemical Company, Greenfield Eco Solutions Pvt. Ltd, Gujarat State Fertilizers and Chemicals Limited, Oro Agri Europe S.A, Saint-Gobain Group, SANOWAY GmbH, Eastman Chemical Company, Vantage Specialty Chemicals Inc., Clariant International AG, and Croda International PLC.
The global soil amendments market is expected to grow from $3.75 billion in 2022 to $4.20 billion in 2023 at a compound annual growth rate (CAGR) of 11.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The soil amendments market is expected to reach $6.25 billion in 2027 at a CAGR of 10.4%.
The soil amendments market consists of sales of sphagnum peat, wood chips, grass clippings, straw, compost, manure, biosolids, sawdust and wood ash.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
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.
North America was the largest region in the soil amendments market in 2022. The regions covered in soil amendments report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of soil amendments are clay, sand, loam, and silt.Clay refers to a type of soil that is composed of very fine mineral particles that are tightly packed together.
It is segmented into various crop types, such as cereals and grains, oilseeds and pulses, fruits and vegetables, and others, and categorized into different products, such as organic and inorganic. It is available in dry and liquid forms and is used in various applications such as construction and mining, agriculture and gardening, and others.
The increasing concern about soil degradation is expected to propel the growth of the soil amendments market going forward.Soil degradation refers to the loss of soil quality or fertility due to natural or human-induced factors.
The increasing concern about soil degradation is mostly driven by intensive agriculture practices, deforestation, urbanization, and climate change, to address these issues, the amendments are in soil that improves soil quality by re-establishing microbial populations, balancing pH, adding organic matter, boosting water holding capacity, and reducing compaction.For instance, in November 2020, according to the United Nations Convention to Combat Desertification (UNCCS), a US-based UN Agency for land restoration, one-fifth of the world’s population now lives and works on degraded agricultural land and it is estimated that around 33% of the world’s soil is already degraded, and around 90% could become degraded by 2050.
Additionally, 10 to 12 million hectares of farmland are lost to soil degradation each year. Therefore, increasing concerns about soil degradation will fuel the soil amendment market growth.
Product innovations have emerged as a key trend gaining popularity in the soil amendments market.Major companies operating in soil amendments market are concentrating their efforts on creating innovative solutions to strengthen their position in the market.
For instance, June 2020, Mirimichi Green, a US-based provider of effective earth solutions launched Essential-G, a new, prilled soil amendment.Essential-G combines the most vital ingredients for amending the soil made of silicon, recycled coffee grounds, premium composts, humates, and USDA Certified Biobased Carbon (biochar), and is supported by Mirimichi Green’s CarboMatrix technology.
Any typical push-behind spreader can distribute Essential-G with ease to its optimum consistency.
In December 2021, Specialty Granules LLC (SGI), a US-based mining and mineral processing company partnered with V6 Agronomy Inc. to contribute mainstream sustainable farming using meta basalt soil amendments. This collaboration with Specialty Granules LLC (SGI) will develop and market the next generation of multifunctional agricultural and environmental solutions. V6 Agronomy Inc. is a Canada-based developer and distributor of specialized crop nutrients and soil amendments.
The countries covered in the soil amendments market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The soil amendments market research report is one of a series of new reports that provides soil amendments market statistics, including soil amendments industry global market size, regional shares, competitors with a soil amendments market share, detailed soil amendments market segments, market trends and opportunities, and any further data you may need to thrive in the soil amendments industry. This soil amendments market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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