Agricultural Micronutrients Market Research Reports 2022 Global Industry Size, Share, In Depth Qualitative Insights, Explosive Growth Opportunity
The Global Agricultural Micronutrients market crossed US$ 4.3 billion mark in 2022 and is expected to hit US$ 7.1 billion by 2030, recording a CAGR of 6.5% during the forecast period.
Agricultural micronutrients are significant plant nutrients, required for plant growth and development. Agricultural micronutrients find application for fertilization due to several reasons such as soil erosion, reduction in soil nutrient due to long term cropping and improving crop yields. The deficiency of nutrition can lead to diseases in crops. Moreover, the countries worldwide are facing nutrition imbalances and deficiencies in soil. The resulting soil changes can be attributed to the changing soil properties such as humidity, temperature and pH. High pH in the soil decreases the micronutrient availability of the soil to crops. According to the report by Food and Agriculture Organization, approximately 50% of mineral fertilizer nutrients are consumed by India, China and the US. Furthermore, the demand for nutrient fertilizers is estimated to increase to 219.3 million tons by 2030. The developed countries are focusing on providing nutrient rich food through strengthened agricultural practices.
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- BASF SE
- Haifa Group
- Nutrien Ltd.
- Valagro S.p.A
- Helena Agri-Enterprises LLC
In this report, the market has been segmented on the basis of:
- Crop Type:
- Cereals and Grains
- Oilseeds and Pulses
- Fruits and Vegetables
- North America
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
The latest Agricultural Micronutrients Market study offers an all-inclusive analysis of the major strategies, corporate models, and market shares of the most noticeable players in this market. The study offers a thorough analysis of the key persuading factors, market figures in terms of revenues, segmental data, regional data, and country-wise data. This study can be described as most wide-ranging documentation that comprises all the aspects of the evolving Smart home market.
The research report provides deep insights into the market revenue, parent market trends, macro-economic indicators, and governing factors, along with market attractiveness per market segment. The report provides an overview of the growth rate of Agricultural Micronutrients Market during the forecast period, i.e., 2022–2030. Most importantly, the report further identifies the qualitative impact of various market factors on market segments and geographies. The research segments the market on the basis of product type, application, technology, and region. To offer more clarity regarding the industry, the report takes a closer look at the current status of various factors including but not limited to supply chain management, niche markets, distribution channel, trade, supply, and demand and production capability across different countries.
The research provides answers to the following key questions:
What is the estimated growth rate of the market for the forecast period 2022–2030? What will be the market size during the estimated period?
What are the key driving forces responsible for shaping the fate of the Agricultural Micronutrients Market during the forecast period?
Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Smart home market?
What are the prominent market trends influencing the development of the Agricultural Micronutrients Market across different regions?
What are the major threats and challenges likely to act as a barrier in the growth of the Smart home market?
What are the major opportunities the market leaders can rely on to gain success and profitability?
The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Smart home market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal according to different segments. The report also predicts the influence of different industry aspects on the Agricultural Micronutrients Market segments and regions.
Recent strategic developments in agricultural micronutrients market
The agricultural micronutrients market has undergone several significant developments, and a few of these have been mentioned below:
- In March 2021, Mosaic Company partnered with Sound Agriculture. This partnership aimed to bring a nutrient efficient product to market to accelerate yields across major row crops and improve soil health. The companies aimed for the development and distribution of a proprietary mix of Sound Agriculture’s bio-inspired chemistry and micronutrients.
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