Soil Conditioners Market to grow at a CAGR of 7.44% during 2024-2028
The Soil Conditioners Market is expected to grow at a CAGR of 7.44% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2036.1 million. The global consumption of fruits and vegetables has witnessed significant growth due to the expanding vegetarian and vegan population and shifting food preferences towards plant-based diets. This trend is particularly prominent in countries like India, where a large portion of the population adheres to a vegetarian lifestyle, leading to a high demand for horticultural crops. In the 2022-2023 crop year, India's horticultural crop production increased by approximately 1.37% to 351.92 million tons (mt). Similarly, in developed markets such as the US, Canada, and the UK, the rise in veganism is fueling a strong demand for fruits and vegetables.
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Technavio analysts predict that the Sand subsegment will lead the Type segment during 2024 and 2028 In the agricultural sector, sandy soils, characterized by their coarse texture and low nutrient retention capacity, occupy extensive cultivated areas. These soils, which are prevalent across various climates and soil orders, including Alfisols, Entisols, Inceptisols, Spodosols, and Ultisols, exhibit a low water-holding capacity due to their fine particle content. To mitigate these challenges, soil management practices, such as the application of soil conditioners, play a pivotal role in enhancing sandy soil's ability to retain moisture and enrich nutrient levels. Soil conditioners, specifically designed for sandy soils, are essential amendments that augment the soil's fertility and productivity.
Here are the various ways based on which the market is segmented:
There are several factors that are causing the market to flourish need to meet rising demand for crops
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The Soil Conditioners Market is witnessing significant growth due to the increasing demand from various sectors, including Agriculture & Gardening, Construction, Roofing, and Mining. In the Agriculture sector, soil conditioners play a crucial role in enhancing nutrient status, water holding capacity, and soil fertility. For instance, sandy soil types benefit greatly from the addition of mineral-based soil conditioners like pulverized limestone, which improves soil pH and nutrient availability. Urbanization and Industrialization have led to soil degradation through land clearance, soil erosion, and deforestation. This has increased the demand for soil conditioners to restore soil health and sustainability. Inorganic soil conditioners like sewage sludge, food waste, and crop residue are gaining popularity due to their ability to improve soil porosity, water quality, and soil nutrient uptake. The Construction sector also utilizes soil conditioners to improve soil quality before laying foundations or constructing buildings. In the Roofing sector, soil conditioners are used to improve the quality of soil for green roofs. The Mining sector uses soil conditioners to restore degraded land and reduce the environmental impact of mining activities. Carbon-based materials like peat moss, farmyard manure, green manure, worm compost, and animal manure are organic soil conditioners that provide essential nutrients and improve soil structure. These sustainable functionalities make soil conditioners an essential component of modern agriculture and sustainable development.
The global diversified chemicals market encompasses businesses producing a broad spectrum of chemical products that fall outside the realms of industrial gases, commodity chemicals, specialty chemicals, and agricultural chemicals. According to Technavio's market analysis, the market size is determined by the consolidated revenue generated by manufacturers of a multitude of chemical product categories. Factors driving the expansion of the global diversified chemicals market include robust demand from emerging economies, such as China, Brazil, Indonesia, and India. These nations present attractive opportunities due to government incentives, abundant labor, accessible land, and minimal transportation expenses, leading numerous diversified chemicals manufacturers to establish operations in these regions.
The Soil Conditioners Market is experiencing significant growth, fueled by the need to meet rising demand for crops. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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