Rapid decline in arable land and mounting pressure to increase crop productivity is fueling market growth
Market Size – USD 3.7 Billion in 2020, Market Growth – at a CAGR of 8.6%, Market Trends –Growing awareness regarding food security
The global Agricultural Micronutrients Market is expected to reach a value of USD 6.9 Billion by 2028 and register a CAGR of 8.6%, according to the latest report by Reports and Data. Micronutrients including iron, copper, zinc, and boron are considered essential for plants growth. Micronutrient deficiency can result in numerous plant diseases, reducing quantity and quality of crops and yield. Growing preference for genetically modified seeds globally is a primary factor supporting revenue growth of the agricultural micronutrients market and the trend is expected to continue going forward.
Rising use of special chemical fertilizers is augmenting demand for micronutrients as it aids in protecting crops from UV radiation, insects, and parasites, and promotes increased yield. Demand for zinc is increasing across various regions, particularly countries in Asia Pacific. Due to zinc deficiency in soil, agricultural crop productivity and yield decreases over time. Therefore, growing number of companies are focusing on offering zinc as a major micronutrient for application in different types of soils to enhance agricultural crop production and yield. However, factors including broad irrigation facilities, rising use of chemical fertilizers, and mining of micronutrient reserves are leading to global shortage of micronutrients, which could hamper market growth to some extent in the long run.
Major manufacturers in the agricultural micronutrients market include AkzoNobel (Netherlands), BASF SE (Germany), Nutrien, Ltd. (Canada), The Mosaic Company (US), Yara International ASA (Norway), Valagro (Italy), and Compass minerals international (US).
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Some key findings in the report
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For the purpose of this report, Reports and Data has segmented the global agricultural micronutrients market on the basis of type, mode of application, form, crop type, and region:
Type Outlook (Revenue, USD Billion, 2018 – 2028)
Crop Type Outlook (Revenue, USD Billion, 2018 – 2028)
Form Outlook (Revenue, USD Billion, 2018 – 2028)
Mode of Application Outlook (Revenue, USD Billion, 2018 – 2028)
Regional Outlook (Revenue, USD Billion, 2018 – 2028)
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Table of Content:
Chapter 1 Introduction 1.1 Objectives Of The Study 1.2 Market Definition 1.3 Study Scope 1.3.1 Regional Segmentation 1.4 Periodization Considered 1.5 Currency Considered 1.6 Unit Considered 1.7 Stakeholders Chapter 2 Research Methodology 2.1 Research Data 2.1.1 Secondary Data 2.1.1.1 Key Data From Secondary Sources 2.1.2 Primary Data 2.1.2.1 Key Data From Primary Sources 2.1.2.2 Breakdown Of Primaries 2.2 Market Size Estimation 2.2.1 Bottom-Up Approach 2.2.2 Top-Down Approach 2.3 Market Breakdown & Data Triangulation 2.4 Research Assumptions & Limitations 2.4.1 Assumptions 2.4.2 Limitations Of The Study Chapter 3 Executive Summaries Chapter 4 Premium Insights 4.1 Opportunities In The Agricultural Micronutrients Market 4.2 Agricultural Micronutrients Market, By Form 4.3 Asia Pacific: Agricultural Micronutrients Market, By Form & Key Country 4.4 Agricultural Micronutrients Market, By Crop Type & Region 4.5 Key Markets, By Key Country
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Chapter 11 Competitive Landscape 11.1 Overview 11.2 Company Ranking 11.3 Competitive Leadership Mapping 11.3.1 Dynamic Differentiators 11.3.2 Innovators 11.3.3 Visionary Leaders 11.3.4 Emerging Companies 11.4 Competitive Leadership Mapping (For Smes/Start-Ups) 11.4.1 Progressive Companies 11.4.2 Starting Blocks 11.4.3 Responsive Companies 11.4.4 Dynamic Companies 11.5 Competitive Scenario 11.5.1 New Product Launches 11.5.2 Expansions 11.5.3 Mergers & Acquisitions 11.5.4 Agreements Chapter 12 Company Profiles
12.1 Basf Se 12.2 Akzonobel (Nouryon) 12.3 Nutrien Ltd. 12.4 Nufarm 12.5 Yara International Asa 12.6 Coromandel International Ltd. 12.7 Land O¡¯ Lakes 12.8 Helena Chemical Company 12.9 The Mosaic Company 12.10 Haifa Group
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