The agricultural micronutrients are plant nutrients, which are used in little amount to obtain better yield. These micronutrients include chloride, zinc, boron, copper and molybdenum. Rise in preference for Genetically Modified (GM) seeds across the world is expected to impact the growth of the global market for agriculture micronutrients.
Referring to study, “Global
Agricultural Micronutrients Market: Market Segments: By Type(Zinc,
Boron, Iron, Manganese, Molybdenum, and Copper); By Application (Soil, Foliar,
and Fertigation); By Form (Chelated and Non-Chelated micronutrients);By Crop
Type (Cereals & Grains, Fruits & Vegetables, Oilseeds & Pulses);and
Region – Analysis of Market Size, Share & Trends for 2014 – 2019 and
Forecasts to 2030” the key companies operating in the global agricultural
micronutrients market are Nutrien Ltd, Yara, The Mosaic Company, BASF SE, Akzo
Nobel N.V., Compass Minerals, Auriga Industries A/S, Bayer AG, DuPont, ADAMA
India Private Limited, Land O'Lakes, Inc, ATP Nutrition, Baicor, LLC, Sumitomo
Chemical Co., Ltd., Dow Dow, Brandt, Inc, Grow More Inc. Key companies are
focused on opting for agreements with global players, in order to gain
considerable share at the highest level and maintain the competitiveness in the
market.
Based on type, agricultural micronutrients market is segmented as boron, zinc, iron, molybdenum, manganese and others (nickel and chlorine). Based on crop type, market is segmented as fruits & vegetables (cucurbit, brassica, root-bulb, leafy and solanaceae), oilseeds & pulses (dry peas, soybeans, beans and others (sunflower and canola), cereals & grains (wheat, rice and corn), and others (plantation crops, ornamentals, turfs, fiber crops and forages). Based on form type, market is segmented as chelated (Ethylene Diamine Di-2-Hydroxyphenyl Acetate (EDDHA), Ethylene Diamine Tetra-acetic Acid (EDTA) and Diethylene Triamine Penta-acetic Acid (DTPA)) and non-chelated. In addition, based on mode of application, market is segmented as fertigation, foliar, soil and others (trunk injection, seed treatment and implantation).
The agricultural micronutrients
market is driven by increase in focus on crop production and quality, followed
by rise in micronutrient deficiency in soil and increase in supporting policies
from the government. However, Poor awareness among the developing regions
regarding the benefits of micronutrients and growth in organic fertilizer
industry may impact the market. Moreover, growth in development of
biodegradable chelates is a key opportunity for market.
Based on geography, the
Asian-Pacific region holds major share in global agricultural micronutrients
market owing to rise in requirement of high-quality agricultural produce
coupled with increase in agricultural practices in the region. The European and
North-American regions are projected to witness higher growth rate due to
increase in use of chemical fertilizer over the forecast period. It is expected
that future of the global market will be bright as a result of increase in need
for effective fertilizers led by poor soil quality, rise in demand for
high-quality & uniform yield, growth in population and increase in concerns
regarding food security during the forecast period. It is estimated that the
global agricultural micronutrients market will be reached at US $11,002 million
by 2030 from USD 5,848 million in 2018 at a CAGR of 7.12% during the forecast
period 2019-2030.
For More Information, Click on the Link Below:-
Global
Agricultural Micronutrients Market
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