Agricultural Micronutrients Market Growth, Analysis Report, Share, Trends and Overview 2022-2028
The global agricultural micronutrients market is projected to exhibit significant growth, at a CAGR of around 8.4%, during the forecast period. Crop improvement is being considered as a flourishing area in the agriculture industry due to the shift towards a scientific approach in the agriculture technologies, rising concerns of poor crop yield and irregular reaping process of flowers and vegetables. The substantial growth in funding the US and other countries is propelling the market of the global agricultural micronutrients market during the forecast period.
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Additionally, the market is being
supported by products and research projects developed by companies operating in
the agriculture industry. Companies such as BASF SE are procuring license
agreements to develop micronutrients for agriculture products.
An important milestone is predicted to
be achieved by the middle of the 21st century, as the time when the population
on the Earth will certainly reach a record high of over nine billion people.
The enormous growth in the population will necessarily impose an unparalleled
huge demand on the planet's resources. Asia-Pacific is the largest producer,
exporter, and consumer of Asia-Pacific. The region has well-known agriculture
research facilities for the development of effective and productive crops.
Further, key countries of the region
such as China, Japan, and Malaysia are contributing significantly to the
agricultural micronutrients market due to surging demand for agriculture in
countries. India has few major industries, with which the country drives its
greater part of the economy, which includes textile, agriculture, and
manufacturing. According to the India Brand Equity Foundation (IBEF), an
estimated 283.37 million tons of food grain production recorded during
2018-2019. In addition, the total exports of agricultural products from India
grew at a CAGR of 16.45% during 2010-2018. The country fulfills the food demand
for various countries, including Russia, the US, and China.
Along with this, the current cycle of
climate fluctuations that the planet is undergoing will pose a negative impact
on natural ecosystems and will have environmental stresses on agricultural
productivity. According to the researchers at the University of Bonn, the
global food production could fall by over 20% by 2050, and at the same time,
the global population is projected to reach 9.8 billion in 2050. Across Europe,
the demand for organic food has increased in the past 10 years. The researchers
are making efforts to create more productive yields that help farmers and food
companies to attract more investment.
High investment is the key to meet the
growing demand amongst European consumers for organic food. Such high
investments and funding from the government drive the growth of the global
agricultural micronutrients market.
Global
Agricultural Micronutrients Market-Segmentation
By
Micronutrients
·
Zinc
·
Boron
·
Iron
·
Manganese
·
Others (Copper and Molybdenum)
By
Crop Type
·
Pulses and Oilseeds
·
Fruits and Vegetables
·
Cereals
·
Others (Floriculture)
By
Application
·
Seed Treatment
·
Soil
·
Fertigation
·
Foliar
·
Others (Hydroponics)
A full report of Agricultural Micronutrients
Market is available at: https://www.omrglobal.com/industry-reports/agricultural-micronutrients-market
Global
Agricultural Micronutrients Market– Segment by Region
North America
·
United States
·
Canada
Europe
·
Germany
·
United Kingdom
·
France
·
Spain
·
Italy
·
Rest of Europe
Asia-Pacific
·
China
·
Japan
·
India
·
Rest of
Asia-Pacific
Rest of the World
·
Middle East &
Africa
·
Latin America
Company Profiles
·
AgroLiquid
·
AgXplore
International, LLC
·
Akzo Nobel N.V.
·
Aries Agro Ltd.
·
ATP Nutrition Ltd.
·
Balchem Corp.
·
BASF SE
·
BMS Micro-Nutrients
NV
·
Compass Minerals
International, Inc.
·
COMPO EXPERT GmbH
·
Coromandel
International Ltd.
·
Haifa Group
·
Helena
Agri-Enterprises, LLC
·
Israel Chemicals
Ltd.
·
Nufarm Ltd.
·
Plant Food Company,
Inc.
·
Stoller Group
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