Soil Treatment Market 2024 - By Size, Share, Forecast And Trends Analysis Report 2033

The Business Research Company recently released a comprehensive report on the Global Soil Treatment Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The soil treatment market size has grown strongly in recent years. It will grow from $37.95 billion in 2023 to $40.34 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to the increasing global population, demand for food and crop production, increasing environmental concerns, increasing nutrient quantity of soil, and growing adoption of organic and sustainable farming.

The soil treatment market size is expected to see strong growth in the next few years. It will grow to $51.78 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to the growing trend toward adopting modern farming practices, increasing infestation of soil-borne pests, increasing the production of agriculture, increasing regulations regarding the use of chemical fertilizers and pesticides, and increasing in contaminated soil from construction and industrial activities. Major trends in the forecast period include advanced farming equipment, developing innovative formulations, crop protection technology, technological developments, and the development of innovative products.

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Market Drivers and Trends:

The expansion of the agriculture sector is expected to propel the growth of the soil treatment market going forward. The agriculture sector encompasses all activities related to the cultivation of crops, raising livestock, and producing food, fiber, and other products from plants and animals. The expansion of the agriculture sector is due to shifts in dietary patterns, growing awareness of environmental issues, and increasing investment in agricultural research, development, and infrastructure. Soil treatment is used in agriculture to improve soil health and enhance crop productivity. It involves adding organic matter, fertilizers, and soil conditioners to boost nutrient availability, improve soil structure, and increase water retention. For instance, in February 2024, according to the Department for Environment, Food & Rural Affairs reports, a UK-based government agency, the average farm business income (FBI) across all UK farms increased significantly from $50,461 (£46,500) in 2020/21 to $78,133 (£72,000) in 2021/22. Further, the UK total income from farming (TIFF) in 2022 was $6.61 billion (£7.9 billion), an increase of 17% from 2021 with $1.43 billion (£1.1 billion). Therefore, increasing the production of agriculture drives the soil treatment market.

Major companies operating in the soil treatment market are focused on developing advanced technologies, such as soil health mapping services, to provide precise data on soil conditions, enabling farmers to optimize crop production and improve soil management practices. Soil health mapping services are advanced technology that provides the detailed analysis and visualization of soil properties used for treatment. For instance, in September 2022, Syngenta Group B.V., a Switzerland-based agriculture technology company, launched INTERRA Scan, a soil health mapping service designed to enhance soil treatment and management for growers. This service provides high-resolution soil mapping that analyzes up to 27 layers of information regarding soil health, including essential properties like the potential of hydrogen (pH), soil texture, organic matter, carbon content, and cation exchange capacity. The service aims to enhance soil management practices by allowing for targeted applications of fertilizers and other inputs based on precise soil data.

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Major Key Players of the Market:

BASF SE, Compagnie de Saint-Gobain, Veolia Environnement S.A., Evonik Industries AG, Fortum Oyj , UPL Limited, Solvay S.A., Novozymes A/S, Rallis India Limited, Dowa Eco-System Co. Ltd., Triumvirate Environmental Inc., ESD Waste2Water Inc., Clean-Co Systems Inc., Agro Phos India Limited, Swaroop Agrochemical Industries Private Limited, Soil Technologies Corporation, Kanesho Soil Treatment SRL, CDE Group Ltd., Innovative Earth Solutions (IES) Inc., Soil Works LLC

Soil Treatment Market 2024 Key Insights:

• The soil treatment market size is expected to see strong growth in the next few years. It will grow to $51.78 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%.
• Increasing Agricultural Production To Drive Growth In The Soil Treatment Market
• Advanced Soil Health Mapping Services Revolutionizing Soil Treatment And Management
• North America was the largest region in the soil treatment market in 2023

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