Agriculture Micronutrients Market Outlook, Demand, Regional Analysis 2021-2027

Precision Business Insights published a research report on “Agricultural Microbials Market by Type (Bacteria, Fungi, Virus, and Protozoa), Function (Soil Amendment and Crop Protection), Crop Type (Cereals & Grains, Oilseed & Pulses, and Fruits & Vegetables), Mode of Application (Seed treatment, Soil treatment, Foliar), Formulation, and by Geography - Global/Region/Country Forecast to 2027".

Copper, zinc, iron, and boron are micronutrients that are considered important for plants. Micronutrient insufficiency can cause a variety of illnesses in plants, reducing the quantity and quality of the plants. Growing global demand for Genetically Modified (GM) seeds is expected to have an impact on the worldwide industry for agriculture micronutrients. Chemical fertilizers are also propelling the growth of micronutrients since they protect crops from insects, Ultraviolet rays, and increase crop yields, all of which will boost the overall development of Agricultural Micronutrients during the forecast timeframe. The COVID-19 epidemic has had an immediate impact on developing country food systems. Accessibility to markets has been hampered by limitations on the mobility of persons and products. In the face of this unpredictability, governments are implementing initiatives to protect people's diet and nutrition by focusing on diversifying of production. Firms in the agricultural micronutrients industry are seeing increased revenue as a result of these changes.

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Agriculture is the main source of revenue for a majority of nations, including the United States, China, and India, among others. The agricultural industry accounts for a large amount of the GDP of the aforementioned countries, and regional policies tend to favor the use of micronutrients to maintain their fertile land. Farmers and marketers of nutritious and biofortified crops like wheat, maize, potato, and sweet potato are being encouraged by manufacturers in the farmland micronutrients sector to increase sales. People are more aware of foods high in micronutrients as a result of the COVID-19 outbreak. Biofortified crops are becoming significant nutrition vehicles thanks to strong local market chains, greater commercial utilization, and robust smallholder manufacturing activities. Farmers' increased concerns about producing high-quality crops to feed the growing world population has led to the introduction of agricultural micronutrients. These micronutrients help crops produce more yield by enhancing the minerals in the soil. As a result of this benefit, it is expected to increase the growth of the market.

The global Agriculture Micronutrients Market based on product type is categorized into Boron, Iron, Copper, Molybdenum, Manganese, Zinc, and Other. On the basis of Form Types, the market is bifurcated into Chelated and Non-Chelated. On the basis of crop types, the market is divided into Cereals, Pulses & Oilseeds, Food& Vegetables, and Others.

In the following years, the North American region is predicted to grow significantly. This is owing to the increasing loss of arable land in nations like the United States and Mexico, which is expected to increase adoption of modern agricultural technologies between 2021 and 2028.

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There are some major players working in agriculture micronutrients market, which include AkzoNobel N.V. (Netherlands), BASF SE (Germany), Agrium, Inc. (Canada), The Dow Chemical Company (U.S.), The Mosaic Company (U.S.), Novozymes (Denmark), Sumitomo Corporation (Japan), Helena Chemical Company (U.S.), Nufarm Ltd. (Australia), SUL4R-PLUS, LLC (U.S.), Yara International (Norway), and Land O’Lakes, Inc. (U.S.) to name a few.

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