Asia - Pacific soil treatment market is estimated to register a CAGR of 5.9% during the forecast period. 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. Decreasing per capita arable land, nutrient loss in the soil, and increasing soil born pests are the prime drivers of the market whereas low popularity among the farmers is the major market restraint.
Key Market Trends
China and India Dominates the Market
India and China dominate the soil treatment market due to nutrient deficiencies in soil and soil contamination. According to a recent study conducted by the Indian Institute of Soil Science (IISS), it has been found that the sampled soil across 174 districts and 13 states including some major agricultural states such as Andhra Pradesh, Bihar, Haryana, Madhya Pradesh, Maharashtra, and Punjab, among others, is deficient by 39.9% in zinc and 27.8% in iron. According to the National Soil Pollution Survey, 19% of Chinese farmland was reportedly contaminated by heavy metals such as lead, cadmium, and arsenic. Such mineral deficiencies and contaminations have been provoking the farmers in this region to adopt soil treatment practices.
Decreasing Per Capita Arable Land Drives the Market
Asia Pacific countries such as India and China has a huge population and the crops cultivated in the limited land cannot produce sufficient food. Hence, soil treatment applications became essential to increase the productivity of land and produce enough food. In addition to the declining agricultural land, micronutrient deficiency is widespread globally and the Asia Pacific is one of the major regions affected by this deficiency. More than half of the cereal crop soils are zinc deficient and around one-third of the cultivated soil is iron deficient. Therefore, decreasing per capita land coupled with the nutrient deficiency in the soil drives the growth of the market.
Competitive Landscape
Asia Pacific soil treatment Market is fragmented with many global and regional players in the market. Syngenta AG, BASF, UPL Limited, Tata Rallis, Terracotem, etc are some of the global and regional players in the Asia Pacific region. These companies are primarily engaged in strategies like mergers, acquisitions, and partnerships to expand their presence and increase their sales.
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