The soil treatment market, estimated at USD 24.11 billion in 2015, is projected to grow at a CAGR of 8.5% to reach USD 36.29 billion by 2020. The market is driven by factors such rising concerns about food security, changing farming practices, increasing demand for organic food market, and shrinking arable land. The high growth potential in emerging markets and untapped regions provide new growth opportunities for market players.
“Soil protection accounted for the largest market share in 2014.”
Among the types of soil treatment—which include soil protection, organic amendments, and pH adjusters— soil protection accounted for the largest market share, followed by organic amendments. The soil protection segment covers weed and pest control soil treatment products and holds the largest market share in global soil treatment products market. The pH adjusters segment is projected to grow at the highest CAGR with increasing applications in baked products.
“Weed control leads the market with the largest share.”
On the basis of type, the soil protection market is led by the weed control segment, followed by pest control. Glyphosate is the best-selling herbicide across the globe and has found its application in agriculture, lawns & gardens, and industrial areas for weed control. Pest control is projected to be the fastest-growing segment for soil protection market, particularly in developing Asian economies with pests becoming a serious issue of crop production.
“China: The future of the soil treatment industry.”
China is focusing on increased usage of advanced technologies and newer products for soil treatment. Also, the awareness among the farmers is increasing in the country to cater to the demand for specialized agricultural products in order to increase the agricultural productivity. With a rising awareness about soil treatment products and focus on achieving greater profits, several users are willing to spend on new innovative soil treatment products such as organic amendments, soil protection, and ph adjuster.
The U.S. was the largest country-level market for soil treatment, whereas the market in China is projected to grow at the highest CAGR of 11.9%, in terms of value.
Leading players such as Syngenta AG (Switzerland), BASF SE (Germany), Adama Agricultural Solutions Ltd. (Israel), Monsanto Company (U.S.), and Solvay S.A. (Belgium) have been profiled in the report. The other players include Arkema S.A. (France), Platform Specialty Products Corporation (U.S.), American Vanguard Corporation (U.S.), Novozymes A/S (Denmark), and Kanesho Soil Treatment (Belgium).
