Global Agricultural Micronutrients Market Trends, Analysis, Growth, and Forecast: 2018 to 2027
MarketResearch.biz delivers in-depth insights on the global agricultural micronutrients market in its upcoming report titled, “Global Agricultural Micronutrients Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global agricultural micronutrients market is estimated to register a CAGR of X.X% in terms of value during forecast period 2017–2026. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2026. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global agricultural micronutrients market report has been segmented on the product type, mode of application, crop type, and region.
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analysed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
Micronutrients are essential elements that are required by plants in small quantities for growth and development. Farmers are focusing on maximizing the crop production by providing micronutrients to the plant, which further reduces crop input costs. These nutrients are chlorine, molybdenum, copper, iron, manganese, zinc, and boron. If micronutrients are not available, it can result in plant abnormalities.
Growing demand for high value crops coupled with increasing demand for fruits and vegetables are major factor expected to drive growth of the global agricultural micronutrients market over the forecast period. Depleting arable land, increasing soil deficiency, and farmers focusing on increasing crop production is in turn is expected to drive growth market over the forecast period. Increasing preference towards organic farming, owing to growing demand for organic food products is expected to propel growth of the target market.
However, lack of awareness in various regions regarding the benefits associated with the use of agricultural micronutrients to enhance crop yield is expected to limit growth of market over the forecast period.
Based on crop type, the global agricultural micronutrients market is segmented based on oilseeds & pulses, fruits & vegetables, cereals & grains, and others. Increasing demand for high quality fruits and vegetable, owing to the growing demand is expected to drive growth of the segment over the forecast period.
The market in the Asia Pacific region is projected to register comparatively faster growth in terms of revenue over the next 10 years. Growing demand for agricultural micronutrients to maximize crop yield in countries such as India and China, owing to the rapidly growing population is expected to drive growth of the market in the region. In addition, growing demand for agricultural micronutrients for production of cereals & grains, which is staple food crops is another factor expected to boost growth of the agricultural micronutrients market in the region over the forecast period. Increase presence of agricultural micronutrients vendors to meet the growing demand for food product is expected to support growth of market in the region over the forecast period.
Global agricultural micronutrients market segmentation, by product type:
- Others (nickel, chloride, and molybdenum)
Global agricultural micronutrients market segmentation, by mode of application:
Global agricultural micronutrients market segmentation, by crop type:
- Oilseeds & pulses
- Fruits & vegetables
- Cereals & grains
Global agricultural micronutrients market segmentation, by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- BASF SE
- The Dow Chemical Company
- Land O’lakes
- Yara International
- The Mosaic Company
- Helena Chemical Company
- Coromandel International
- Haifa Chemicals
- Sapec S.A.
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