Boron Fertilizers Market Size, Latest Trends, Growth Rate, Key Drivers And Forecast To 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Boron Fertilizers Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $4.11 billion In 2028 At A CAGR Of 8.1%.

The boron fertilizers market size has grown strongly in recent years. It will grow from $2.77 billion in 2023 to $3.01 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to soil fertility research, crop yield improvements, deficiency awareness, mining industry growth, fertilizer industry evolution.

The boron fertilizers market size is expected to see strong growth in the next few years. It will grow to $4.11 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to precision agriculture adoption, climate change impact, sustainable agriculture initiatives, biofortification programs, organic farming demand. Major trends in the forecast period include boron fertilization mapping, tailored crop-specific formulations, microdosing and controlled release, organic and eco-friendly boron fertilizers, bio-stimulant boron products.

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Boron Fertilizers Market Major Segments
The boron fertilizers market covered in this report is segmented -

1) By Fertilizer Type: Boric Acid, Borax, Boron Calcium Nitrate, Boron Humate, Other Types
2) By Crop Type: Cereals And Grains, Fruits And Vegetables, Oilseeds And Pulses, Other Crop Types
3) By Application Method: Foliar Spray, Soil Treatment, Fertigation
4) By End-Use: Agriculture, Horticulture, Floriculture, Other End Uses

Key Driver - Rising Production Of Fruits And Vegetables Propels Growth In The Boron Fertilizers Market

The rising production of fruits and vegetables is expected to boost the growth of the boron fertilizers market going forward. Fruit refers to the sweet or sour seed-bearing sections of plants that can be consumed uncooked and a vegetable refers to a plant portion that can be eaten. Boron is necessary for protein synthesis, the development of seed and cell walls, pollen grain germination, pollen tube expansion, and ultimately fruit set and yield, it also controls glucose metabolism and aids in sugar translocation; hence the rising production of fruits and vegetables is expected to boost the boron fertilizer market. For instance, according to a report published by Statistics Canada, a Canada-based national statistical agency, in 2022, nationally, the overall production of fruits and vegetables increased by 6.1% to 3.5 billion kg in 2022, Ontario produced 55.2% of all vegetables, followed by Quebec (34.0%) and British Columbia (3.1%) in 2022. Fruit sales grew by 15.3% to $1.4 billion in 2022. Therefore, the rising production of fruits and vegetables is driving the growth of the boron fertilizers market.

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Prominent Trend - Product Innovation Drives Growth In The Boron Fertilizers Market

Product innovation is the key trend gaining popularity in the boron fertilizers market. Major companies operating in the boron fertilizer market are focusing on developing new products. For instance, in January 2021, U.S. Borax, a US-based leader in the production, supply, and science of borates, launched ANHYBOR boron fertilizer to meet the boron demand. This fertilizer's unique feature is that it provides two methods of application: as a coating on various fertilizer products, like NPK blends, and as a compound fertilizer enhanced with boron. The product is entirely water soluble, yet it does not rehydrate when stored normally. The fertilizer manufacturing process benefits when ANHYBOR is introduced to compound fertilizers before granulation or compaction. As less material is required to produce the desired boron concentration, its high boron content is advantageous when making compound fertilizers.

Boron Fertilizers Market Players
Major companies operating in the boron fertilizers market report are Bayer AG, Honeywell International Inc., Yara International ASA, INEOS Capital Limited, The Mosaic Company, Corteva Inc., Asahi Kasei Corporation, BASF Agricultural Solutions, U.S. Borax, China Green Agriculture Inc., Drexel Chemical Company, Verdesian Life Sciences, Kalyani Industries Limited, SCL Italia SpA, Rama Phosphates Ltd., Deveron Corp, AgroLiquid, JH Biotech Inc., Inkabor SAC, Microsource LLC, Koch Agronomic Services LLC, Quiborax SA, Minera Santa Rita SRL, OMEX Agricultural Holdings Limited, Aries Agro Limited, Valagro SpA, Rose Mill Co

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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the boron fertilizers market in 2023. The regions covered in the boron fertilizers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Boron Fertilizers Market Report Structure
3. Boron Fertilizers Market Trends And Strategies
4. Boron Fertilizers Market - Macro Economic Scenario
5. Boron Fertilizers Market Size And Growth
…..
27. Boron Fertilizers Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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