LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global soil treatment market to grow at a CAGR of nearly 9% during the forecast period, according to their latest market research report.
Introduction of biopesticide is one of the major trends being witnessed in the global soil treatment market 2019-2023. Biopesticides are pesticides that are derived from natural sources like bacteria, plants, fungi, and certain minerals. These pesticides are increasingly being used as they minimal harmful effects on the environment. Thus, the increased use of biopesticides is expected to drive the global soil treatment market during the forecast period.
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According to Technavio analysts, one of the key factors contributing to the growth of the global soil treatment market is the rapid urbanization and rise in population:
Global soil treatment market: Rapid urbanization and rise in population
In countries such as India, China, Brazil. Malaysia, and Mexico, urbanization is growing at a rapid pace and is contributing to the growth of new industries and the introduction of technologies in these nations. In the global market, Africa is the fastest growing region, followed by South Asia. 54% of the global population resides in these urban areas. This number is expected to increase during the forecast period. Asia is home to 53% of the global urban population despite the decreased levels of urbanization when compared with urbanization in other regions.
According to a senior analyst at Technavio for research on agrochemicals and fertilizers, “The need to fulfill the demand for food in the household and industrial applications is crucial owing to the increased demand for products and services. Food and water are important sources to meet the requirements of households. Not everyone is equipped with the techniques of organic farming. Hence, the need for advanced soil treatment technologies is rising across the globe.”
Global soil treatment market: Segmentation analysis
The global soil treatment market research report provides market segmentation by product (soil protection products, organic amendments, and pH adjuster) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The soil protection products segment held the largest market share in 2018, accounting for nearly 39% of the market. This product segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2018 with a market share of 42%. This region is expected to dominate the market through 2023.
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Market Landscape
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Market Sizing
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Five Forces Analysis
Market Segmentation
Geographical Segmentation
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Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
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