- The soil treatment market was valued at USD 32.3 billion in 2018, with a CAGR of 8.6% during the forecast period (2019-2024).
- The drivers identified in the market are rising population and shrinking arable land, an increasing number of technological innovations, and ensured safety in food.
- The restraints identified in the market are technical knowledge barriers, stringent regulations, and lack of government support.
Scope of the Report
Soil treatment can be used to treat the contaminated soil and convert it into usable agricultural soil. It helps to enhance the performance of the soil and soil fertility as well. This treatment helps in soil conservation and helps to improve the soil health.
Key Market Trends
Ensured Safety in Food is Driving the Market
Food safety and sustainable agricultural practices are essentially important for developing countries, in the context of evolving trade practices. The presence of pesticide residues and use of hormones, heavy metals, additives, and different antibiotics, to enhance the growth of crops artificially have led to a rising concern among the consumers about food safety. With widespread health hazards and their expensive treatments, safe and sustainable agricultural practices are the need of the hour. Water and soil contaminated with harmful microorganisms, like E.coli and Psuedomonas, dangerous fungal aflatoxins, and neurotoxins enter the food chain and cause serious damage to the health. Every country has set its own regulations and legislation, which are followed to maintain agricultural and environmental safety.
North America and Europe Dominate the Market
The market is dominated by developed countries, like the United States, Canada, and Mexico. More than one-fourth of the global market share is covered by the North America region alone. The majority of soil treatment market demand in the region is by the United States, due to its highly evolved and advanced agricultural industry. The market is dominated by developed regions of Europe, like the United Kingdom, Germany, and France. Countries, like Spain and Italy, are expected to grow effectively, as they embrace the application of soil treatment products in their fields.
In the soil treatment market, companies not only compete on product quality or product promotion, but also focus on strategic moves to acquire greater market share. The major players are BASF SE, Syngenta, Certis USA LLC, and Arysta Lifescience Corporation, among others.
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