Crop Micronutrients Market expected to attain a market value of $11,532.36 million by 2025 | CAGR 8.3%

The global crop micronutrients market was valued at $6,077.05 million in 2017, and is projected to reach $11,532.36 million by 2025, registering a CAGR of 8.3% from 2018 to 2025.

Crop micronutrients are essential nutrients required by plants for growth and other metabolic activities. They play a major role in improving quality, color, taste, efficiency of fertilizers, water use, disease resistance, and others. They also aid in the development of large as well as strong roots, help build complete proteins and compounds, and promote better plant immunity.

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Crop micronutrients are essential elements for plant growth and play an important role in balanced crop nutrition. The lack of micronutrients can lead to various diseases in plants such as chlorosis, yellowing of leaves, gummosis, and others that can reduce the quality and quantity of plants. Crop micronutrients maintain the nutrient level in crops & soil to enhance the productivity and growth of crops. These nutrients find extensive applications in agribusiness, thereby driving the crop micronutrients industry. The requirement of effective fertilizers is on the rise due to poor soil quality, and therefore, effectiveness of micronutrients for enhancing the crop yield and productivity have fueled the popularity of crop micronutrients among farmers in the recent years.

In terms of value, Asia-Pacific and LAMEA collectively contributed xx share in the global crop micronutrients market in 2017. The key players operating in the crop micronutrients market are Akzo Nobel N.V., Aries Agro Ltd., Baicor, L.C., BASF SE., Compass Minerals International, Inc., DowDuPont Inc., The Mosaic Company, Nutrien Ltd., Western Nutrients Corporation, and Yara International.

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Key Findings of the Crop Micronutrients Market:
The chelated micronutrients segment was the highest contributor to the crop micronutrients market in 2017, and is projected to grow at a CAGR of 8.7%.
The demand for fruits & vegetables is continuously increasing around the globe, especially in developing countries such as China, India, and Brazil, and is projected to grow at CAGR of 8.7% over the forecast period.
Asia Pacific is projected to exhibit rapid growth in the crop micronutrients market, owing to growth in its economy with a large population base, and is projected to grow at the most astounding CAGR of 8.9% from 2018 to 2025.
China accounted for the highest share accounting approximately 40% in the Asia-Pacific crop micronutrients market, in 2017.
In 2017, the soil application segment accounted for 50% of the crop micronutrients market share and is expected to grow at a CAGR of 8.9%.

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