Latest Innovation in Soil Amendments Market

The soil amendments market refers to the industry involved in the production, distribution, and sale of products that are used to improve soil quality and fertility. Soil amendments are substances added to soil to enhance its physical, chemical, and biological properties, thereby creating a more favorable environment for plant growth.

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The soil amendments market is poised for tremendous growth, with a predicted value of USD 6.0 billion by 2027 and a CAGR of 11.0%. The global market was assessed at USD 3.6 billion in 2022, indicating a growing need for sustainable agricultural solutions and providing multiple chances for enterprises and stakeholders to innovate and have a positive effect.

The selection of soil amendments is determined by the soil's individual needs, such as pH, nitrogen levels, and physical structure. The growing demand for soil amendments reflects growing knowledge of the benefits of organic farming practises and sustainable agriculture, as well as a desire to lessen the environmental effect of traditional farming methods.Farmers may contribute to improve soil health, minimise the use of synthetic and conventional fertilisers, and encourage more sustainable and environmentally responsible agriculture by employing soil amendments. The expansion of the market for soil amendments also represents an opportunity for firms and innovators to create new goods and technology that may assist satisfy the growing need for sustainable and environmentally friendly farming practises.

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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.

Market 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.

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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