The potential for soil conditioners
To further diversify its product offering in Brazil, this European chemical company asked Euromonitor Consulting to size the market for soil conditioners – a polymer used in agriculture to retain water in the soil. Beyond the market value, the company wanted to understand its would-be competitors, prospective clients and end-user industries to best position a potential new product.
An exhaustive review of import data where we analysed trade volumes, source country and product type, was a critical first step in the research process. Next, we spoke to product manufacturers, distributors, importers, re-sellers, farms and co-ops to understand soil conditioner usage and benefits, existing barriers to entry – including costs and existing substitutes – and opportunities for our client. These included suggestions around functionality, portfolio and areas of weakness in the competition.
Our analysis identified the overall market size and forecast growth, a set of market gaps that the client could fill and most favourable end-user industries. Our reporting is being used in annual strategy discussions to determine if this product should be part of the pipeline for Brazil, complementing the client’s existing portfolio.