Crop Micronutrients Market will touch a value of nearly $11,532.36 million in the year 2025

Growing deficiency of micronutrients in the soil, depleting oil reserves increasing the demand for biofuels, and rise in worldwide population elevating the hest for food products have fueled the growth of the global crop micronutrients market. On the other hand, lack of awareness regarding dosage and proper application of micronutrients among farmers, and availability of cheap alternatives as well as counterfeit products hamper the growth to certain extent. However, inclusion of new methods of farming has created new opportunities in the segment.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/request-sample/3568

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. In 2017, the soil application segment accounted for more than 50% share of the global crop micronutrients market in terms of value.

𝐆𝐥𝐨𝐛𝐚𝐥 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

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.

Crop micronutrients are the essential nutrients that are required for the growth and balanced nutrition of plants and crops. Micronutrients help in improving the quality as well as the yield of the crops. These are the basic nutrients required in minor amounts to treat deficiency in plants and increase crop yield. Chlorosis, yellowing of leaves, gummosis, and rot are a few illnesses that are found in plants due to insufficiency of micronutrients. Boron, zinc, iron, molybdenum, manganese, copper, and chlorine are some of the major micronutrients that are required by crops and plants. Different applications, for example, fertigation, foliar, and seed treatment are expected to exhibit high demand in future.

Micro-nutrients act as enzyme co-factors and building blocks that enable plants to build complete proteins and compounds. They also aid in the development of large, strong roots, and boost immunity of the plant. Growth in awareness about benefits of micronutrients among farmers & growers, increase in demand for healthy & nutritious food, surge in demand for biofuels fuel the global crop micronutrients market.

𝐋𝐈𝐌𝐈𝐓𝐄𝐃-𝐓𝐈𝐌𝐄 𝐎𝐅𝐅𝐄𝐑 - 𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝟏𝟓% 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/checkout-final/47b83cd724b3eaef6159ef250790b090

However, factors such as lack of awareness among farmers in developing countries regarding dosage and proper application of micronutrients, mining of micronutrient reserves, and availability of cheap alternatives and counterfeit products are the major factor expected to restrain the global crop micronutrients market growth during the forecast period. Furthermore, the adoption of new methods of farming for enhancing profitability fuels the demand for micronutrient fortified products.

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%.

𝐆𝐞𝐭 𝐘𝐨𝐮𝐫 𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝: https://www.alliedmarketresearch.com/request-for-customization/3568

Based on form, the chelated segment garnered the lion's share in 2017 and is also expected to grow at the highest CAGR of 8.7% during the forecast period. Based on crop type, the fruits & vegetables segment is projected to grow at the highest CAGR of 8.7% through 2018-2025. Its increasing demand around the globe and especially in developing countries such as China, India, and Brazil has driven the growth. Based on application, the soil segment contributed to 50% of the total market share and is expected to grow at a CAGR of 8.9%. Based on region, Asia Pacific is anticipated to grow at a significant CAGR of 8.9% from 2018 to 2025.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐒𝐨𝐦𝐞 𝐎𝐭𝐡𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

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