Agricultural Micronutrients Market is Estimated to Witness High Growth Owing to Rising Demand for Quality Food Production

Market Overview:

Agricultural micronutrients include secondary nutrients such as calcium, magnesium and sulfur and micronutrients such as boron, chlorine, copper, iron, manganese, molybdenum and zinc which are used in small quantities by plants. They play a vital role in improving crop quality and yield.

Market Dynamics:

The agricultural micronutrients market is expected to grow at a significant rate owing to rising demand for quality food production and concerns regarding declining soil fertility. Micronutrients help improve soil health and maximize crop yields. They promote early root formation, boost metabolic activities within plants and help improve crop resistance to diseases and insects. Additionally, the adoption of precision farming and protected agriculture is also fueling the demand for agricultural micronutrients. Precision farming techniques involve application of specific micronutrient formulations based on field diagnostics and soil testing which helps minimize costs and boost efficiency.

Growing population and rising food demand are driving adoption of micronutrients in agriculture

The global population is estimated to grow from 7.7 billion currently to around 9.7 billion by 2050. With rising population, the demand for food is also projected to increase substantially over the coming decades. Micronutrients play a vital role in improving crop yields and helping farmers meet the rising global food demand. Micronutrients help in plant growth, development of leaves, stems, roots and fruits. They enhance photosynthesis, nitrogen fixation and nutrient transport in plants. Adopting micronutrient fertilizers allows farmers to maximize crop yields from their existing farmlands to fulfil the increasing demand for food.

Get a Sample Copy of the Report : https://www.coherentmarketinsights.com/insight/request-sample/1967

Key Players Covered In This Report:

The Dow Chemical Company, BASF SE, The Mosaic Company, Akzo Nobel N.V., Yara International ASA, The Potash Corporation, Land O'Lakes, Inc., Marubeni Corporation, and Nufarm Limited

Market Segmentation:

By Crop Type

Cereals
Pulses and Oilseeds
Fruits and Vegetables
Others (Plantation, Permanent Crops, and Floriculture.)

By Product Type

Copper
Zinc
Boron
Iron
Molybdenum
Manganese
Others (Nickel and Chloride)

By Application

Foliar
Fertigation
Seed Treatment
Soil
Others (hydroponics)

Key Region/Countries are Classified as Follows:

The following section of the report offers valuable insights into different regions and the key players operating within each of them. To assess the growth of a specific region or country, economic, social, environmental, technological, and political factors have been carefully considered.

The section also provides readers with revenue and sales data for each region and country, gathered through comprehensive research. This information is intended to assist readers in determining the potential value of an investment in a particular region.

◘ North America (United States, Canada, and Mexico)
◘ Europe (Germany, France, UK, Russia, and Italy)
◘ Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
◘ Latin America (Brazil, Argentina, Colombia,.)
◘ The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

Buy This Report: https://www.coherentmarketinsights.com/insight/buy-now/1967

Shift towards precision farming and focus on soil health is boosting micronutrient usage

There is a growing trend of precision farming and focus on maintaining long term soil health among farmers. Precision farming involves precise application of inputs like fertilizers based on field variability and real-time monitoring of crop needs. This helps optimize fertilizer usage and maximize productivity. Maintaining good soil health and micronutrient levels in soil has become an area of increased focus. Regular application of micronutrients sustains the fertility and productivity of farmland over long run. It prevents depletion of micronutrients from the soil due to intensive farming. The shift towards precision and soil-focused farming practices is thus driving higher adoption of customized and balanced micronutrient fertilizers.

Restrain: Volatility in commodity prices can restrain market growth

The prices of key agricultural commodities tend to fluctuate significantly depending on factors like global supply-demand dynamics, weather conditions etc. Since micronutrients are input materials for agricultural production, volatile commodity prices directly impact the profitability of farmers. During times of low commodity prices, farmers may focus more on minimizing input costs and shy away from non-essential products like micronutrients. This volatility in agricultural output market can potentially restrain investments in inputs like micronutrients during uncertain macroeconomic periods. Stable commodity prices and assured farm profitability are crucial for sustained growth of the agricultural micronutrients market.

Opportunity: Emerging markets in Asia Pacific and Africa present major opportunities

The Asia Pacific and African markets for agricultural micronutrients are witnessing strong growth and present significant opportunities. Countries like India, China, Indonesia and several African nations are major producers and consumers of fertilizers. However, micronutrient deficiency continues to impact soil health and agricultural productivity in these developing markets. There is a growing awareness about the role of micronutrients among farmers. At the same time, governments are actively promoting precision farming, soil analysis, and balanced fertilizer usage. This makes Asia Pacific and Africa high potential regions for micronutrient sales looking ahead as adoption rates rise to overcome deficiencies. Companies can gain an edge by customizing products and adopting innovative distribution to tap into these emerging opportunities.

Trend: Increasing preference for liquid and soluble formulations

One of the key emerging trends in the agricultural micronutrients industry is the rising preference for liquid and water-soluble formulations over traditional powder or granular varieties. Liquid and soluble micronutrients offer advantages like ease of application, higher nutrient availability to plants, and uniform mixing with other agrochemicals. They are more compatible with precision application techniques like foliar sprays and fertigation. Growers also prefer these forms as they eliminate issues like caking or separation of micronutrients during transportation and storage. Leading manufacturers are focusing on R&D to expand their liquid and soluble micronutrient portfolio with customized formulations tailored to various soil and crop needs. This shift towards advanced formulations is expected to further stimulate market demand in the coming years.

Request For Customization at: https://www.coherentmarketinsights.com/insight/request-customization/1967

Key Benefits For Stakeholders

The report provides an in-depth analysis of the global bromine derivatives market trends along with the current and future market forecast.
This report highlights the key drivers, opportunities, and restraints of the market along with the impact analyses during the forecast period.
Porter's five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the bromine derivatives industry for strategy building.
A comprehensive global bromine derivatives market analysis covers factors that drive and restrain the market growth.
The qualitative data in this report aims on market dynamics, trends, and developments.

The report answers a number of crucial questions, including:

➥ Which companies dominate the global Agricultural Micronutrients market ?
➥ What current trends will influence the market over the next few years?
➥ What are the market's opportunities, obstacles, and driving forces?
➥ What predictions for the future can help with strategic decision-making?
➥ What advantages does market research offer businesses?
➥ Which particular market segments should industry players focus on in order to take advantage of the most recent technical advancements?
➥ What is the anticipated growth rate for the market economy globally?

Contact Us:

Mr. Shah
Coherent Market Insights Pvt Ltd,
533 Airport Boulevard, Suite 400, Burlingame, CA 94010, United States
✉ Email: sales@coherentmarketinsights.com
📞United States of America: +1-206-701-6702
📞United Kingdom: +44-020-8133-4027
📞Japan: +050-5539-1737
📞India: +91-848-285-0837

About Us:

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

This release was published on openPR.