Soil Amendments Market Dynamics & Global Forecast to 2027

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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Market Dynamics:

Drivers: Easier availability of humic substances as raw materials

Humic substances are widely distributed organic carbon-containing materials in terrestrial and aquatic environments. The availability of humic substances boosts the growth of the market. In terms of consumption of humic substances, Europe leads the market, followed by the Asia Pacific due to its easy and cheap availability in countries such as China and India. Asian countries account for a large agricultural area due to the greater availability of humic substances in this region.

Restraints: Supply of adulterated and low-quality products

The supply of counterfeit products is a major burning issue in the industry. The cost of production of spurious products is extremely low. Over the years, there has been an increase in incidents related to counterfeit products. Due to similar physical characteristics, farmers can not differentiate spurious organic soil amendments from the original ones. The chemical properties of both products are also identical. In the case of biofertilizers, poor microbial load, contaminated products, or improper strains are used to imitate the product, thus restraining the growth of the overall market.

Opportunities: Strong growth in developing countries

The Asia Pacific is an important region in the global food chain, accounting for around 19% of global food and agriculture exports and 31% of total food and agriculture imports. The increasing population and the rise in disposable income are expected to help drive the demand for food & agriculture commodities and resources in the region. The rising population limited arable land, low farm yields, environmental and soil degradation, and infrastructure inadequacy lead to higher usage and implementation of soil conditioners.

Challenges: Lack of awareness among farmers

There is a lack of awareness among farmers regarding applying organic soil amendments, leading to low adoption rates. There is also a lack of training and knowledge about effectively handling soil amendments and organic fertilizers. Farmers prefer to use chemical fertilizers as they are readily available. Furthermore, there is a concentrated holding of companies offering various chemical fertilizers. In underdeveloped and developing nations, farmers are unaware of the basic nutrient requirements of the soil, which tends to be a challenge for the soil amendment market.

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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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