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Agricultural Micronutrients Global Market Report 2022

Agricultural Micronutrients Global Market Report 2022

  • August 2022
  • 175 pages
  • ID: 6313434
  • Format: PDF
  • The Business Research Company


Table of Contents

Major players in the agricultural micronutrients market are BASF SE, Yara International ASA, Nutrien Ltd., Nouryon, Compass Minerals International, Helena Chemical Company, Corteva Agriscience, Coromandel International Limited, Haifa Group, Valagro S.p.A, Sigma AgriScience LLC, Aries Agro Limited, AgroLiquid, Agrium Inc, The Dow Chemical Co, ATP Nutrition, Baicor L.C., Stoller USA Inc, Akzonobel, Sumitomo Chemical Co. Ltd, Syngenta International AG, Brandt Consolidated Inc., Grow More Inc., DowDuPont Inc., and Western Nutrients Corporation.

The global agricultural micronutrients market is expected to grow from $4.78 billion in 2021 to $5.23 billion in 2022 at a compound annual growth rate (CAGR) of 9.4%. The agricultural micronutrients market is expected to grow to $8.15 billion in 2026 at a CAGR of 11.7%.

The agricultural micronutrient market consists of sales of agricultural micronutrients by entities (organizations, sole traders, and partnerships) that are defined as a fine blend of mineral elements, which play an important role in balancing crop nutrition.Agricultural micronutrients are crucial for plant growth that nurture horticultural crops and crops of pulses, cereals, spices, plantations, and oilseeds.

The mineral elements in agricultural micronutrients include manganese, zinc, iron, copper, molybdenum, and boron.

The main types of agricultural micronutrients are zinc, boron, iron, copper, manganese, molybdenum, and other Types.Zinc is a necessary micronutrient for human metabolism since it catalysis over 100 enzymes, aids protein folding, and regulates gene expression.

Zinc deficiency is more common in patients with malnutrition, alcoholism, inflammatory bowel disease, and malabsorption disorders.The method of application is soil application, fertigation, foliar, seed treatment, and hydroponics used for various crop types such as cereals, pulses, oilseeds, spices, fruit, and vegetables.

The applications are tomato, cotton, citrus, apple, lettuce, soybean, and other applications.

Asia Pacific was the largest region in the agricultural micronutrient market in 2021. The regions covered in the agricultural micronutrient market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The agricultural micronutrients market research report is one of a series of new reports that provides agricultural micronutrients market statistics, including agricultural micronutrients industry global market size, regional shares, competitors with an agricultural micronutrients market share, detailed agricultural micronutrients market segments, market trends and opportunities, and any further data you may need to thrive in the agricultural micronutrients industry. This agricultural micronutrient market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The rising micronutrient deficiency in soil is expected to propel the growth of the agricultural micronutrient market.Micronutrient deficiency in soil is defined as the low or unavailability of elements like manganese, copper, zinc, boron, iron, sulphur, and molybdenum.

The deficiency of these elements is a concern to the farmers, as it decreases productivity and profit.For instance, in 2019, according to a report published by ICAR, an India-based apex body managing research and education in agriculture, India is considered a zinc-deficient country, and nearly 37% of the soil samples analyzed for the availability of zinc were found deficient.

Therefore, the growing micronutrient deficiency in soil is driving the growth of the agricultural micronutrient market.

Technological advancements are shaping the agricultural micronutrient market.Technological advancement is a discovery of knowledge that advances technology and aids in providing an enhanced product.

For instance, in February 2019, Haifa Group, an Israel-based manufacturer and supplier of specialty plant nutrients launched NutriNet, a new online service for growers and agronomy experts.NutriNet is an online expert system that focuses on optimizing and supporting the process of creating customized fertilization programs.

It incorporates a broad range of plant nutrition-related knowledge, which was accumulated by Haifa Group during its decades of field and research activities worldwide.

In November 2020, The McGregor Company, a US-based provider of seed, crop inputs, research, equipment, and advice required to raise sustainable and healthy crops, acquired HydroGro, for an undisclosed amount.With this acquisition, The McGregor company aims at strengthening its position in the agriculture and turf industries, offering specialty products and solutions.

HydroGro is a US-based manufacturer of water-based micronutrient solutions for the turf and agriculture markets.

The countries covered in the agricultural micronutrient market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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