Soil Amendment Market to Reach US$ 13,930 Million by 2030 with a CAGR of 9.0%

PUNE, India - July 15, 2024 - PRLog -- Overview

The global Soil Amendment market, valued at US$ 7,565 million in 2023, is projected to reach US$ 13,930 million by 2030, growing at a Compound Annual Growth Rate (CAGR) of 9.0% during the forecast period.

Key Players

Leading companies in the Soil Amendment market include:

• BASF
• Bayer
• FMC Corporation
• UPL
• Evonik Industries
• Novozymes
• Solvay
• Nouryon
• Oro Agri (Rovensa)
• Timac Agro (Roullier)
• Sumitomo
• Hongda Xingye Co., Ltd.
• DOW Chemical Company
• Eastman Chemical Company
• Akzo Nobel N.V.
• Nutrien Ltd
• Croda International PLC
• ADAMA Ltd
• Aquatrols
• Sanoway GmbH

Market Segmentation

By Type

• Powder Soil Amendment
• Granular Soil Amendment
• Liquid Soil Amendment

By Application

• Agriculture
• Gardening
• Forestry
• Others

Regional Analysis

• North America: U.S., Canada, Mexico
• Europe: Germany, France, UK, Italy, etc.
• Asia Pacific: China, Japan, South Korea, Southeast Asia, India, etc.
• South America: Brazil, etc.
• Middle East and Africa: Turkey, GCC Countries, Africa, etc.

Market Drivers

1. Increasing Demand for Organic Farming: The growing awareness of the benefits of organic farming is driving the demand for soil amendments.
2. Soil Health Awareness: Rising awareness about soil health and its impact on crop productivity boosts market growth.
3. Technological Advancements: Innovations in soil amendment products and application methods enhance market growth.

Opportunities

1. Expansion in Emerging Markets: Increasing agricultural activities in emerging economies present significant growth opportunities.
2. Sustainable Agriculture Practices: Growing focus on sustainable agriculture practices drives demand for eco-friendly soil amendments.
3. Government Support: Favorable government policies and subsidies for sustainable agriculture promote market growth.

Challenges

1. High Costs: High costs associated with soil amendment products may hinder market growth.
2. Lack of Awareness: Limited awareness about the benefits of soil amendments in some regions poses a challenge.
3. Regulatory Hurdles: Navigating complex regulatory landscapes related to agricultural products can be challenging.

Recent Developments

• Product Launches: Introduction of advanced soil amendment products with enhanced efficacy.
• Strategic Partnerships: Collaborations between key players to enhance product offerings and market reach.
• Research and Development: Focus on developing innovative soil amendment solutions to improve soil health and crop productivity.

Conclusion

The Soil Amendment market is poised for significant growth, driven by increasing demand for sustainable agriculture practices and rising awareness about soil health. Key players are focusing on innovation and strategic partnerships to capitalize on market opportunities and address challenges, ensuring high-quality soil amendment solutions for diverse agricultural applications.

To Know More - https://www.pragmamarketresearch.com/reports/121364/soil-...