Rise in deforestation, soil erosion, and land clearance and increase in use of organic soil conditioner in agriculture & gardening applications drive the growth
WILMINGTON, DELAWARE, UNITED STATES, March 15, 2024 /EINPresswire.com/ — Allied Market Research recently released a report titled “Soil Conditioner Market by Product Type (Organic, Inorganic), Soil Type (Sand, Clay, Loam, Silt), Application (Construction and Mining, Agriculture and Gardening, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031″. The report indicates that the global soil conditioners industry achieved $2.3 billion in revenue in 2021 and is poised to reach $3.7 billion by 2031, exhibiting a Compound Annual Growth Rate (CAGR) of 4.7% from 2022 to 2031.
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Key Growth Drivers:
The growth of the global soil conditioners market is fueled by factors such as the escalation of deforestation, soil erosion, and land clearance, coupled with a surge in the adoption of organic soil conditioners in agricultural and gardening applications. However, challenges such as the time-consuming process, high costs associated with inorganic soil conditioners, lack of awareness, and a low adoption rate hinder market expansion. Nevertheless, the mineral-based nature of inorganic soil conditioners, offering macro and micro nutrients for prolonged plant uptake, presents promising opportunities for future growth.
Impact of COVID-19:
The COVID-19 pandemic has adversely affected the global soil conditioners market due to disruptions in the supply chain for various agrochemical products. Decreased consumer demand has exerted downward pressure on prices and production levels of soil conditioners.
Segment Insights:
Inorganic Segment: This segment dominated the market in 2021, holding nearly three-fifths of the global soil conditioners market share. It is anticipated to maintain its leadership position throughout the forecast period, driven by extensive usage across multiple sectors including agriculture, mining, roofing, and construction. However, the organic segment is expected to witness the highest CAGR of 5.0% from 2022 to 2031, fueled by increasing demand for sustainable and organic farming practices.
Soil Type Segmentation: The sand segment captured the largest market share in 2021, contributing to almost two-fifths of the global soil conditioners market. It is projected to retain its leading position owing to its ability to enhance soil productivity. Conversely, the clay segment is forecasted to exhibit the highest CAGR of 5.1% from 2022 to 2031, driven by its diverse applications in construction, pottery, gardening, and other sectors.
Regional Outlook:
Asia-Pacific: This region accounted for the highest revenue share in 2021, comprising almost two-fifths of the global soil conditioners market. It is expected to maintain its dominance by 2031, with a projected fastest CAGR of 5.2% from 2022 to 2031. The upsurge in soil conditioner usage for nutrient provision, soil fertility enhancement, and other soil amendment purposes bolsters market growth in this region. Other notable regions mentioned include North America, Europe, and LAMEA.
Key Market Players:
Several prominent companies operating in the global soil conditioners market include BASF SE, UPL Limited, Gujarat State Fertilizers And Chemicals Limited, Jaipur Bio Fertilizers, Novozymes A/S, Evonik Industries AG, Greenfield Eco Solutions Pvt. Ltd., Oro Agri Europe S.A., SANOWAY GmbH, and Saint-Gobain.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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