Agriculture Micronutrients Market - Global Forecast 2024: Granular View of The Market from Various End-Use Segments

According to this Market Research report, the global agriculture micronutrients market is likely to witness strong growth during 2017-2024. By the end of the forecast period, the global market for agriculture micronutrients is estimated to exceed US$ 13,000 Million revenue.

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Micronutrients such as copper, iron, zinc, boron are considered as essential micronutrients for plants. As the deficiency of micronutrients can lead to various diseases in plants that may reduce quality and quantity of plants. Increasing preference for Genetically Modified (GM) seeds across the globe is also likely to impact the growth of the global market for agriculture micronutrients. Increasing use of chemical fertilizer is also driving the growth of micronutrients, as it protects crops from insects, UV radiations, and also offer increased yield. The demand for zinc is growing across various regions especially in the Asia Pacific. Owing to the deficiency of zinc in soil, the productivity of agricultural crop is decreasing. Hence, increasing number of companies are focusing on providing zinc as micronutrient for agricultural crops. However, factors such as extensive irrigation facilities, mining of micronutrient reserves and increasing use of high chemical fertilizers are resulting in the global shortage of micronutrients.

Meanwhile, competition among the key players in the global agriculture micronutrients market is also increasing. The key market players are competing on the basis of pricing, technology, and quality of micronutrients. As per the report, the global market for agriculture micronutrients is anticipated to see a significant growth during the forecast period from 2017 to 2024. The global agriculture micronutrients market is also estimated to reach US$ 13,344.2 Million revenue by 2024 end.

The global agriculture micronutrients market report focuses on all the key opportunities, latest trends, drivers, micro and macro-economic factors, and challenges that are expected to impact the growth of the global market for agriculture micronutrients. Analysis of all the factors across major regions are given in the report. The report helps readers to gain insights on all the important factors on the market growth during the forecast period 2017-2024. The report also focuses on all the key segments and regions to identify opportunities.

Leading Companies in the Global Agriculture Micronutrients Market

ADAMA Agricultural Solutions Ltd., Akzo Nobel N.V., Agrium Inc., BASF SE, Compass Minerals International Inc., Auriga Industries A/S, E. I. DUPONT DE NEMOURS AND COMPANY, and Bayer CropScience AG are some of the leading players in the global market for agriculture micronutrients.

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Geographically, Asia Pacific is expected to remain dominant in the global agriculture micronutrients market. By the end of 2024, Asia Pacific is projected to reach nearly US$ 5,800 Million revenue. Agricultural activities are carried on a large scale in Asia Pacific. Moreover, governments of different countries are also taking major steps to support farmers to produce better crops. One of the major factor contributing to the growth of micronutrients is that the natural availability of micronutrients in soil is declining, hence, the demand for micronutrients is increasing. In India, the increasing awareness towards the use of micronutrients, especially the deficiency of zinc is fueling the demand for micronutrients in the country.

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