Soil treatment market to reach $36 bn by 2020

The soil treatment market is projected to grow at a CAGR of 8.5% from 2015, to reach a projected value of USD 36.29 Billion by 2020, according to a report published recently. The market growth is driven by rising concerns about food security and shrinking arable land. The market is further driven by factors such as changing farming practices and increasing demand for organic food.
 

Based on the type, the soil treatment market is estimated to be led by the soil protection segment, followed by the organic amendments segment, in terms of value. In terms of volume, the soil treatment market was led by the organic amendments segment in 2014. Soil treatment products are used on a large scale in regions where there is a high demand for arable land.
 

Among the varied types for organic amendments products, such as crop residue, animal dung, compost, and sewage sludge, crop residue accounted for the largest market share in 2014, followed by animal dung and compost. Crop residue and animal dung are largely used in European and Asian countries and is making its way into regular agricultural usage in most of the North American regions.
 

North America accounted for the largest market share for soil treatment, followed by Europe and Asia-Pacific. Soil treatment products such as soil protection, organic amendments are among the widely used products in this region; changing farming practices is one of the major factors driving the soil treatment market in this region. The Asia-Pacific region is projected to be the fastest-growing market with investments from several multinational manufacturers, especially in countries such as China, India, and Japan.
 

Adherence to government regulations for the usage of soil treatment products poses as one of the restraints for the soil treatment market. Also, the increasing awareness about ill effects of agrochemicals on soil health hinders the growth of the soil treatment market.
 

The soil treatment market is fragmented and competitive, with a large number of players operating at regional and local levels. The key players in the market adopted acquisitions, new product launches, expansion & investments, and agreements, partnerships, collaborations, and joint ventures as their preferred strategies.