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Middle East & Africa Boron Fertilizers Market Forecast to 2028 - COVID-19 Impact & Regional Analysis By Source & Application

Middle East & Africa Boron Fertilizers Market Forecast to 2028 - COVID-19 Impact & Regional Analysis By Source & Application

  • July 2021
  • 83 pages
  • ID: 6134673
  • Format: PDF
  • The Insight Partners

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The boron fertilizers market in MEA is expected to reach US$ 236.95 million by 2028 from US$ 139.11 million in 2021. The market is estimated to grow at a CAGR of 7.9% from 2021 to 2028. The exotic fruits & vegetable market is set to experience growth owing to an upsurge in disposable income, rising middle-class population, changing consumer lifestyles, rapid urbanization, and rise in veganism. The significant trends observed in this market include increased demand for exotic fruits, technological advancements, increased branding, and the advent of online grocery shopping. With the increasing obesity cases in major countries and awareness regarding healthy food diet, consumers are gradually moving toward healthy foods over the past decade. Trendy diets such as the raw food diet and paleo diet underline the health benefits of exotic vegetables and fruits. These types of diets are most appealing to the younger segment of the population. The cold chain stores and warehouses have surged the shelf life of numerous exotic fruits and vegetables throughout transportation and storage, which, in turn has led to markets being flooded with several exotic fruits and vegetables at reasonable rates. Some fruits & vegetables, such as the dragon fruit, purple yam, Chinese gooseberry, are considered to have several health-giving properties. Hence, growing micronutrient utility in larger quantities to meet the MEA exotic food & vegetable demand is projected to drive the growth of the boron fertilizer market during the forecast period. Additionally, increasing demand to boost agricultural productivity in developing region is among the other factors expected to positively influence the demand for MEA boron fertilizers market.
The borax segment led the MEA boron fertilizers market based on type in 2020. The chemical compound borax, also known as sodium borate, has the formula Na2B4O7.10H2O. Borax is a highly soluble boron source; it is readily absorbed by plants and has a major impact on all growth parameters. Since boron is immobile in plants, it cannot be transferred to other tissues after it has been used in actively developing tissues. As a result, a constant supply of available boron is needed for plant uptake during its growth cycle. Since borax is extracted from boron, adding it to the soil will help plants grow in terms of health, development, and reproduction.
South Africa has the largest COVID-19 cases in the Middle East and Africa region, and is followed by Saudi Arabia and the UAE, among others.The UAE was the first country in the Middle East and Africa to report a confirmed case of coronavirus.

Due to lockdown in Middle East and African countries, various companies remain closed which led to the reduction in the sale of various products which has negatively impacted the market for fertilizers in the region.
The overall MEA boron fertilizers market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining overview and forecast for the MEA boron fertilizers market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the MEA boron fertilizers market. Eti Maden; MCC Russian Bor; Minera Santa Rita S.R.L; ORO AGRI MEA; Quimical Tierra; Rose Mill Co.; and Yara are among a few players operating in the MEA boron fertilizers market.

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