Land restoration involves restoring degraded agricultural land into a productive habitat by removal of pollutants and re-establishing native plant species. Land restoration is crucial for improving soil quality, increasing biodiversity, mitigating climate change, and boosting agricultural productivity. It restores the ecological integrity and enhances ecosystem services of degraded land.
The global Land Restoration Market is estimated to be valued at US$ 2.24 Bn in 2023 and is expected to exhibit a CAGR of 9.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
Restoring these degraded lands is crucial to slow down biodiversity loss, combat climate change, and enhance agricultural yields. The land restoration market players can focus on government-funded projects and initiatives to restore degraded public lands. For example, projects under the Bonn Challenge aims to bring 350 million hectares of the world’s deforested and degraded land into restoration by 2030. Tapping into such restoration projects and initiatives presents a lucrative market opportunity for land restoration market players.
Porter’s Analysis
Threat of new entrants: New entrants face high capital requirements to establish land restoration projects. They also need to deal with established brand loyalty of existing key players.
Bargaining power of buyers: Buyers have moderate bargaining power as there are many service providers in the market. However, specialized nature of services increases bargaining power of buyers.
Bargaining power of suppliers: Suppliers of materials and tools have low bargaining power due to availability of substitutes and less differentiation.
Threat of new substitutes: Threat of substitutes is low as land restoration requires specialized expertise and machinery.
Competitive rivalry: Industry is competitive due to presence of many regional and global players.
SWOT Analysis
Strength: Specialized expertise, techniques and machinery. Growing environmental awareness boosting demand.
Weakness: Capital intensive nature of projects. Dependence on environmental regulatory policies.
Opportunity: Large undegraded land areas globally. Favorable regulatory mandates supporting restoration of degraded land.
Threats: Delays in project approvals and financing. Climate change impacting restoration success.
Key Takeaways
The Global Land Restoration Market Size is expected to witness high growth. Growing environmental concerns are driving policies supporting restoration of degraded agricultural and forest lands globally. The global Land Restoration Market is estimated to be valued at US$ 2.24 Bn in 2023 and is expected to exhibit a CAGR of 9.4% over the forecast period 2023 to 2030.
The United States dominates the market currently due to stringent environmental regulations and presence of major players. The Asia Pacific region is expected to grow at fastest pace supported by increasing degradation of agricultural lands and supporting government initiatives in countries like India and China. North America currently holds largest share supported by stringent environmental compliance and presence of major service providers in the United States.
Key players related content comprises Key players operating in the land restoration market are EnviroScience,Jacobszoon Forestry,ENCAP,Polatin Ecological Services,Heartland Restoration Services,SWCA Environmental Consultants,Kimley-Horn,Apache Ecological Service,Ecological Restoration Inc.,Integrated Environmental Restoration Services,Envite Environment,Green Skills. Major players are focusing on projects involving restoration of agricultural and mined lands globally through proprietary techniques and expertise.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
