Press release
Agricultural Micronutrients Market Outlook, Revenue, Product Launches, Regional Share Analysis & Forecast Till 2028
The global Agricultural Micronutrients Market is expected to reach a value of USD 6.9 Billion by 2028 and register a CAGR of 8.6%, according to the latest report by Reports and Data. Micronutrients including iron, copper, zinc, and boron are considered essential for plants growth. Micronutrient deficiency can result in numerous plant diseases, reducing quantity and quality of crops and yield. Growing preference for genetically modified seeds globally is a primary factor supporting revenue growth of the agricultural micronutrients market and the trend is expected to continue going forward.
Market Size – USD 3.7 Billion in 2020, Market Growth – at a CAGR of 8.6%, Market Trends –Growing awareness regarding food security
Rising use of special chemical fertilizers is augmenting demand for micronutrients as it aids in protecting crops from UV radiation, insects, and parasites, and promotes increased yield. Demand for zinc is increasing across various regions, particularly countries in Asia Pacific. Due to zinc deficiency in soil, agricultural crop productivity and yield decreases over time. Therefore, growing number of companies are focusing on offering zinc as a major micronutrient for application in different types of soils to enhance agricultural crop production and yield. However, factors including broad irrigation facilities, rising use of chemical fertilizers, and mining of micronutrient reserves are leading to global shortage of micronutrients, which could hamper market growth to some extent in the long run.
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Key companies profiled in the report:
AkzoNobel (Netherlands),
BASF SE (Germany),
Nutrien, Ltd. (Canada),
The Mosaic Company (US),
Yara International ASA (Norway),
Valagro (Italy),
and Compass minerals international (US).
Key point summary:
Report Coverage: It includes key data about manufacturers, the timeline of the study, product offerings, and aims of the study. This section also highlights market segments given in the report based on types, applications, end-user industries, leading players, and regions.
Executive Summary: It provides an extensive evaluation of the industry by studying the parent market, regional landscape, competitive analysis, key trends, CAGR, drivers, growth opportunities, constraints, and challenges, along with other micro- and macro-economic indicators.
COVID-19 Impact Analysis: In this section, the report studies the impact of the pandemic on various aspects of the industry, such as revenue generation, sales revenue, consumption, production capacity, demand and supply ratio, import and export status, and market standing of leading players in the regions mapped in the study.
Company Profiles: This section offers detailed profiles of major companies in the Agricultural Micronutrients sector based on their value, volume, production capacity, product portfolios, and other crucial factors.
To know more about the report @ https://www.reportsanddata.com/report-detail/agricultural-micronutrients-market
Regions covered in the report:
North America (U.S.A., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of Europe)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Global Agricultural Micronutrients Market Product Segmentation:
Zinc
Boron
Iron
Manganese
Molybdenum
Others (Chlorine and Nickel)
Global Agricultural Micronutrients Market Application Outlook:
Soil
Foliar
Fertigation
Others (Seed treatment, trunk injection, and implantation)
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