Agricultural Micronutrients Market Recent Trends, Competitive Analysis, Company Growth Strategies Analysis Report 2022-2029
Agricultural Micronutrients Market Insights Overview:
According to the research report published by DataM Intelligence, the global Agricultural Micronutrients Market size valued USD XX billion in 2021, it is expected to reach USD XX billion by the end of 2029, with growth at a CAGR of 8.40% during the forecast period 2022-2029.
Manufacturers within the agricultural micronutrients market are encouraging farmers and sellers to spice up sales of nutritious and biofortified crops like wheat, maize, potato, and sweet potato. The COVID-19 pandemic has created people aware of foods good in micronutrients. Robust local market chains augmented commercial use, and strong smallholder production structures are making bio-fortified yields powerful vehicles for nutrition.
Agricultural Micronutrients Market Growth Drivers:
Micronutrients are essential to plant nutrients that are employed in minor quantities. Agricultural micronutrients play a vital role in plant growth and development. Crop intake is not up to one pound per acre for many of the micronutrients. The deficiency of micronutrients has increased thanks to the increase in demand for higher crop yields that absorb a greater amount of micronutrients from the soil.
The deficiency of micronutrients occurs globally but varies in step with the climate, soil condition, rainfall, and other environmental conditions. Growth in the rate of soil micronutrient deficiencies across the world could be a key factor driving the world agricultural micronutrients market. In addition, the fertilizers industry in the geographical regions is additionally facing challenges due to the pandemic, impacting the fertilizer distribution within and across markets within the Asia-Pacific region.
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Market Segmentation Analysis:
By Type:
- Boron
- Copper
- Iron
- Manganese
- Molybdenum
- Zinc
- Others
By Application:
- Fertigation
- Foliar
- Soil
- Others
By Form:
- Chelated
- Non- Chelated
By Crop Type:
- Cereals
- Fruits & Vegetables
- Oilseeds & Pulses
- Others
By Geography, the global market is divided into majorly five regions, such
- North America Agricultural Micronutrients Market
- Europe Agricultural Micronutrients Market
- Asia Pacific Agricultural Micronutrients Market
- Latin America Agricultural Micronutrients Market
- Middle East and Africa Agricultural Micronutrients Market
Regional Growth Share Insights:
In Thailand country, the manufacture and delivery chain distribution of fertilizers and harvest micronutrients continued unaffected despite many virus control actions. In 2020, in the Philippines, the rigid port limits oppositely affected the market for agricultural micronutrients.
Micronutrient insufficiency diminishes the immunological capability of the plant and allows them to fight against several viruses. Nutritional food insecurity because of alarming micronutrient deficiencies has substantially contributed to the world’s burden of disease leading to devastating health consequences thanks to extreme hunger, which afterward leads to life-threatening illness, like malnutrition or undernutrition.
The Asia Pacific dominating the global agriculture micronutrients market:
Asia Pacific region controlled the major share of the global agriculture micronutrients market in 2020. The huge share of this region is mainly recognized to the enormous part under the crop farming, rising population, rising interest in high-quality food, and an upsurge in consciousness and approval of the agriculture micronutrients by farmers in the developing countries, such as India and China.
North America is expected to share robust growth in future years.
North America is predicted to experience substantial growth in the upcoming years. This is owing to the stable decline of farmland in countries such as the United States, and Mexico which is probable to boost the acceptance of advanced agricultural micronutrients between 2022 and 2029.
Competitive Landscape Analysis and Prominent Players Controlling the Global Market:
Some of the major players leading the global market are; Nutrien Ltd., Nouryon, BASF SE, Coromandel International Limited, Hafia Group, Trade Corporation International, The Mosaic Company, Valagro SpA, Yara International ASA, Stoller USA, Inc, and other major companies covered in our full report.
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Research Report Includes:
The global market report contains quantitative and qualitative analyses of numerous factors such as the major drivers and restraints that will influence market growth. Furthermore, the research report delivers insights into the regional and country analysis that covers several regions, contributing to the market growth.
The report includes the competitive landscape that includes the major leading companies and the acceptance of tactics to announce partnerships, present innovative products, and collaborate to additional contribute to the market growth during 2022 and 2029.
Furthermore, the research analyst has implemented some research practices to extract data about the recent trends and market expansions that will drive the growth of the market over the forecast period 2022-2029.
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