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Soil Conditioners Market Worth 6,886.9 Million USD By 2023
The global soil conditioners market will grow at a CAGR of 7.6% from 2018 to 2023
to reach USD 6,886.9 million by 2023, primarily driven by reduction in arable land,
increasing awareness about soil management practices, growing demand for organic
farming and organic foods, and wide range of benefits of soil conditioners. Moreover,
emerging economies such as Latin America, Asia Pacific, and Africa provides
significant opportunity for the manufacturers. However, low adoption rate of soil
conditioner is one of the major factors restraining the growth of this market to some
extent.
The global soil conditioners market is mainly segmented by product type (natural and
chemical), solubility (water soluble and hydrogels), soil type (sand, silt, clay, loam, and
peat), by application (agriculture and industrial), and crop type (cereals& grains,
oilseeds, fruits & vegetable, and others). Based on product type, natural soil
conditioners held the largest share of the global soil conditioners market in 2017,
primarily attributed to growing environmental and public health concerns with use of
chemical soil conditioners, growing organic farming, increasing demand for chemical
residue free agricultural products, and government support to use natural soil
conditioners across the globe. Moreover, in the natural soil conditioners,
polysaccharides commanded the largest share with a healthy growth projected during
the forecast period.
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Based on solubility, water soluble soil conditioners commanded the largest share in
2017 and are expected to dominate global soil conditioners market during the forecast
period, owing to its properties such as more effective water holding capacity and better
soil stabilization.
Based on soil type, sand soil commanded the largest share of the global soil
conditioners market in 2017; however, the clay soil is expected to witness rapid growth
during the forecast period, mainly due to growing need to overcome the problems of
clay soils such as poor aeration and drainage.
Based on application, agricultural soil conditioners accounted for the major share of
the global soil conditioners market in 2017 and are expected to dominate global soil
conditioners market during the forecast period. The factors such as growing
population, increasing organic farming, growing reduction in arable land, and wide
range of benefits of soil conditioners in agriculture such as improvement in soil
fertility, texture, and quality are increasing the use of soil conditioners for agricultural
applications.
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Geographically, this market is segmented into five major regions which comprise
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia
Pacific commanded the largest share of the global soil conditioners market in 2017,
followed by Europe and North America region. The large share of this region is
primarily attributed to availability of large arable land, growing population, and
adoption of new farming practices. However, Latin American region slated to register
the fastest growth during the forecast period, primarily due to large area under
agriculture cultivation, increasing demand for crop yield & efficiency, and growing
organic farming.
The key players operating in the global soil conditioners market are BASF SE, Solvay
S.A., The Dow Chemical Company, Loveland Products, Inc., Eastman Chemical
Company, Akzo Nobel N.V., Evonik Industries AG, Aquatrols, Sanoway GmbH, and
Biosoil Farm, Inc.
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