Soil Amendments Market by Type (Organic, Inorganic), Soil Type (Sand, Loam, Clay, Slit), Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables), Form (Dry and Liquid), and Region (North America, Europe, APAC, RoW) - Global Forecast to 2027
Northbrook, IL 60062 -- (SBWIRE) -- 09/23/2022 -- The global soil amendments market is estimated at USD 3.6 Billion in 2022 and is projected to reach USD 6.0 Billion by 2027. Soil amendments support the nutrient cycle when organic amendments are used. The type of soil amendments chosen depends on how the soil needs to be changed. The growth of the market has been gaining pace due to the associated benefits, increased need for sustainable agriculture, and the reduced exploitation and wastage of synthetic and conventional fertilizers.
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In 2021, Europe dominated the humic acid segment owing to the higher adoption of humic substances as soil amendment products
Humic acid performs a vital role in germination, microbial activity, chlorophyll synthesis, root vitality, and fertilizer retention and helps generate higher yields. The consumption of humic acid in Europe is majorly concentrated in Western countries. In terms of consumption of humic substances, Europe leads the market, followed by the Asia Pacific, due to its immense and cheap availability in countries such as China and India.
Ability to improve water infiltration and enhance acidic soils to drive the demand for gypsum as soil amendments
Gypsum is majorly used to remove excess sodium from the soil and add calcium to it. It is beneficial for clay soil in loosening the compact soil. Gypsum supports shifting the calcium and magnesium levels in soil and provides a readily available form of sulfate sulfur, an important secondary nutrient, which is advantageous to the crop as well as soil. Because of all these benefits, gypsum is widely used as soil amendments which are estimated to continue its higher demand in the years to come.
High demand for biofertilizers to drive the growth of the oilseeds & pulses segment
Oilseeds, like soybean, is widely utilized as feed in the different form of cakes and for producing renewable chemicals and biodiesel. It is one of the key factors enhancing soybean yield, raising the use of biofertilizers as soil amendments. Additionally, increasing demand for oilseed crops, specifically soybean, for application in the feed and food industries is one of the crucial elements that is predicted to drive the market growth of the oilseeds & pulses segment in the global market.
North America accounted for USD 912.1million in 2021, projected to reach USD 1,593.6 million by 2027, at a CAGR of 9.8 during the forecast period.
The US witnesses the presence of many mines, which are associated with hard rock mining, coal mining, smelting & refining sites, and construction & refining sites. Mines not only contribute to air pollution but also to land degradation and leave the soil less fertile and vulnerable to erosion. The abandoned mines are generally present in the forest areas, reducing the overall forest productivity and timber harvest potential. Some of these are also present in rural areas with rugged terrains and limited access.
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The key players in this market include BASF SE (Germany), UPL Limited (India), FMC Corporation (US), Adama (Israel), Bayer (Germany), Novozymes (Denmark), Lallemand Inc (Canada), and T Stanes & Company, Evonik Industries (Germany), and Nufarm (Australia).
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