SOIL CONDITIONERS MARKET: IMPACT ANALYSIS OF MARKET DRIVERS (2018-2023)
- savibangar91
- Jun 3, 2019
- 4 min read
The global soil conditioners market is expected to grow at a CAGR of 7.6% from 2018 to 2023 to reach $6,886.9 million by 2023 from $4,770.8 million in 2018. The growth of this market is mainly attributed to the growing reduction of arable land, increasing awareness about soil management practices, growing organic farming and demand for organic food, and wide range of benefits of soil conditioners. However, low adoption rate of soil conditioners and lengthy product registration and approval process restrict the growth of global soil conditioners market to some extent.
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Reduction in arable landArable land is the land capable of being ploughed and used to grow variety of crops. From the perspective of survival and prosperity of entire humanity, one of most important essential natural resource is the land. Over the years, humans have learned different techniques which help them to utilize land at the maximum levels. This increased usage and constantly increasing demand have resulted in the exploitation of land which led to degradation of land quality and quantity.
It is believed that since the beginning of time on earth we have lost 40% of land to the pollution and encroachment. According to the United Nations’ Food and Agricultural Organization (FAO), nearly two billion hectares worldwide have been degraded since the 1950s. These two billion hectares represent 22% of the world’s cropland, pastures, forests, and woodlands. In particular, Africa and Latin America have the highest proportion of degraded agricultural land. In the countries like whose economy is largely dependent on the agriculture have registered negative trend in terms of land availability. For instance, according to the latest data published by Indian Agriculture Ministry shows that as many as 20 states reported decrease in cultivable land to the extent of 7,90,000 hectares in last 4-5 years. This decrease is mainly attributed to diversion of cultivable land for non-agricultural purposes, including construction, industries, and other development activities.
Moreover, according to the World Bank, it is projected that by 2050, the world will have a total of more than 9 billion mouths to feed, which represents an increase of around 40% on current levels. This is expected to create a lot of pressure on already depleting arable land. In this situation, it’s imperative to increase the agricultural production as well as protect the existing crops with the help of improving soil health and quality. The application of soil conditioners helps to increase the crop yield by improving nutrient availability of soil and increasing disease resistance in the crop plants.
Hence, the increasing demand for high productivity in low arable land fuels the demand of soil conditioners, thereby driving soil conditioners market.
Increasing Awareness About Soil Management Practices
Soil is the organic and inorganic material on the surface of the earth that provides the medium for plant growth. Soil quality is the capacity of soil to function as a vital living ecosystem that sustains plants, animals, and humans. Soil management is to protect soil and enhance its performance. According to the report of the Status of the World’s Soil Resources (SWSR), about 33% of global soils are moderately or highly degraded due to unsustainable management practices. Also, on a global scale, an annual loss of 75 billion tons of soil from arable land was estimated to cost about $400 billion each year in lost agricultural production.
The Food and Agriculture Organization of the United Nations (FAO) Council established the Global Soil Partnership (GSP) in December 2012; they conducted a vigorous campaign to promote sustainable soil management. After revising major policies and scientific developments over the past three decades by the World Soil Charter, under the aegis of the GSP, it has established the 2030 agenda for sustainable development. Those aimed at restoring degraded soil, striving to achieve a land degradation-neutral world, and implementing resilient agricultural practices that progressively improve soil quality and minimize soil contamination.
Moreover, FAO sanctioned Voluntary Guidelines for Sustainable Soil Management (VGSSM) in December 2016, which are minimizing soil erosion, enhancing soil organic matter content, and fostering soil nutrient balance and cycles. These guidelines also help to prevent, minimize and mitigate soil salinization & alkalization, soil contamination, and soil acidification. These guidelines indicate the increasing awareness about soil management practices, which cited to drive the soil conditioners market in near future.
Furthermore, Australian farmers and soil scientists are striving to develop more cost-effective, sustainable ways to improve soil quality, replenish depleted soils, rebalance acidic soils, and prevent erosion and loss of topsoil. In the Spain, there are communication channels to promote soil management practices between scientist/policy makers/advisors and farmers. Soil management practices promotion is related to reduced tillage, erosion safe cultivation, catch crops, and fallow fields. Also, it includes residue management, manure and fertilizer management, crop rotations & extensive farming, pasture, and organic farming. In addition, the Environmental Quality Incentives Program (EQIP) of the United States Department of Agriculture promotes agricultural production and environmental quality as compatible national goals through the crop residue management, nutrient management, irrigation water management, and agricultural energy management.
Hence, these government and organizational initiatives promotes the awareness of soil conditioners across the globe which helps to drive the growth of soil conditioners market in near future.
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