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2024 Global Trends in Soil Conditioners Market
Soil Conditioners Market
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According to The Business Research Company's, The soil conditioners market size has grown strongly in recent years. It will grow from $5.91 billion in 2023 to $6.35 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to economic growth in emerging markets, a decline in the availability of arable land due to industrialization, an increased demand for organic food products, an increasing demand for plant-based food items and increasing concerns about the environment.
The soil conditioners market size is expected to see strong growth in the next few years. It will grow to $8.34 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to a rise in demand for agricultural products, a rapid growth of the agriculture and allied sectors and a growing focus on innovative farming techniques. Major trends in the forecast period include launch of fulvic acids soil conditioners for best use of nutrients, focus on advanced soil conditioning packages, technological advancement, launch of organic soil conditioners to improve soil structure and strategic mergers and acquisitions.
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Market Drivers and Trends:
Increased demand for organic food products is expected to propel the growth of the soil conditioners market. Soil conditioners can improve poor soils by adding organic material among soil particles. Soil conditioners improve soil structure through increasing water retention, increasing aeration and adding plant nutrients. Such soil is useful to grow organic food products. Organic food products can be beneficial for soil conditioning through the principles and practices associated with organic farming. For instance, in june 2022, according to the current Organic Trade Association (OTA) Organic Industry Survey, customers will return to more stable, buy-as-you-need shopping patterns in 2021. Organic sales exceeded $63 billion between 2020 and 2021, with a $1.4 billion (2 %) year-on-year increase. Therefore, the increased demand for organic food products is driving the growth of the soil conditioners market.
Companies in the market are focusing on technological advancement to improve the quality of soil in different climatic conditions. For example, in June 2021, Locus AG, a US-based company specializing in the Farming area, launched Pantego, a next-generation soil probiotic technology hitting the US agriculture market for the 2021 season. Locus Agricultural Solutions (Locus AG), developed the line of non-GMO (non-Genetically modified organisms) microbial soil amendments to provide industry-leading agronomic and environmental benefits, with the potential to increase on-farm return on investment by two to three times. Pantego has added flexibility for use in cooler temperature soils and unlocks phosphorus-mobilizing features that are crucial for crops.
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Major Key Players of the Market:
Honeywell International Inc, L3Harris Technologies, EchoStar Corporation, Thales Group, Viasat, Inc,Aselsan A.S., BAE Systems plc, Ball Corporation, Inmarsat Global Limited, General Dynamics Corp, Singapore Technologies Engineering Ltd, Bharat Electronics Limited (BEL), Antrix Corporation Limited, NEC Corporation, Space Star Technology Co Ltd, Eutelsat Communications SA, Avanti Communications, Cobham Limited, Airbus Defence and Space, Telespazio, Surrey Satellite Technology Ltd, Rohde and Schwarz, Russian Satellite Communications Company, SENER Polska sp. z o.o, Raytheon Intelligence & Space, Hughes Network Systems, Gilat Satellite Networks, Elbit Systems Ltd., Andesat, Globalsat Group, Intelsat, Thuraya, Al Yah Satellite Communications Company, Etisalat UAE, Space AI, Scorpio Space, Yahsat, SCS Space, Blue Sky Communications, Alkan
Soil Conditioners Market 2024 Key Insights:
• The soil conditioners market size is expected to see strong growth in the next few years. It will grow to $8.34 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%.
• Organic Food Demand Energizes Growth In Soil Conditioners Market
• Advancements In Soil Technology Transform Agricultural Practices
• Asia-Pacific was the largest region in the soil conditioner market in 2023
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