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Agricultural Micronutrients Market Revenue, Driving Factors, Key Players, Strategies, Trends, Forecast Till 2028

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Agricultural Micronutrients Market Revenue, Driving Factors, Key Players, Strategies, Trends, Forecast Till 2028

September 27
19:43 2021
Agricultural Micronutrients Market Revenue, Driving Factors, Key Players, Strategies, Trends, Forecast Till 2028
Agricultural Micronutrients Market
The report studies the historical data of the Agricultural Micronutrients market and offers valuable information about the key segments and sub-segments, revenue generation, demand and supply scenario, trends, and other vital aspects.

The global agricultural micronutrients market is expected to reach a value of USD 6.9 Billion by 2028 and register a CAGR of 8.6%, according to the latest report by Reports and Data. Micronutrients including iron, copper, zinc, and boron are considered essential for plants growth. Micronutrient deficiency can result in numerous plant diseases, reducing quantity and quality of crops and yield. Growing preference for genetically modified seeds globally is a primary factor supporting revenue growth of the agricultural micronutrients market and the trend is expected to continue going forward.

Rising use of special chemical fertilizers is augmenting demand for micronutrients as it aids in protecting crops from UV radiation, insects, and parasites, and promotes increased yield. Demand for zinc is increasing across various regions, particularly countries in Asia Pacific. Due to zinc deficiency in soil, agricultural crop productivity and yield decreases over time. Therefore, growing number of companies are focusing on offering zinc as a major micronutrient for application in different types of soils to enhance agricultural crop production and yield. However, factors including broad irrigation facilities, rising use of chemical fertilizers, and mining of micronutrient reserves are leading to global shortage of micronutrients, which could hamper market growth to some extent in the long run.

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Major manufacturers in the agricultural micronutrients market include:

AkzoNobel (Netherlands), BASF SE (Germany), Nutrien, Ltd. (Canada), The Mosaic Company (US), Yara International ASA (Norway), Valagro (Italy), and Compass minerals international (US).

Some key findings in the report

Zinc biofortification is considered an appropriate solution for addressing deficiencies, especially in human health. Rising demand for zinc biofortification is a primary factor driving revenue growth of this segment, and the trend is expected to continue over the forecast period.

Asia Pacific is expected to register the largest revenue share in the industry during the forecast period. Revenue growth of the market in the region is attributed to increasing crop cultivation, rising interest of consumers in high quality and healthy food, and growing awareness regarding benefits and advantages of agricultural micronutrients among farmers in emerging economies, including India and China.

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For the purpose of this report, Reports and Data has segmented the global agricultural micronutrients market on the basis of type, mode of application, form, crop type, and region:

Type Outlook (Revenue, USD Billion, 2018 – 2028)

Zinc

Boron

Iron

Manganese

Molybdenum

Others (Chlorine and Nickel)

Crop Type Outlook (Revenue, USD Billion, 2018 – 2028)

Cereals & grains

Oilseeds & pulses

Fruits & vegetables

Others (Turfs, ornamentals, plantation crops, forages, and fiber crops)

Form Outlook (Revenue, USD Billion, 2018 – 2028)

Chelated

Non-Chelated

Mode of Application Outlook (Revenue, USD Billion, 2018 – 2028)

Soil

Foliar

Fertigation

Others (Seed treatment, trunk injection, and implantation)

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Regional Outlook (Revenue, USD Billion, 2018 – 2028)

North America

Europe

Asia-Pacific

Latin America (LATAM)

Middle East and Africa (MEA)

About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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Contact Person: John Watson
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Website: https://www.reportsanddata.com/report-detail/agricultural-micronutrients-market

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