According to IMARC Group’s latest report, titled “Agricultural Micronutrients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026
”, the global market grew at a CAGR of around 8% during 2015-2020. Agriculture micronutrients are essential plant nutrients added to the soil in small quantities. Boron, iron, zinc, molybdenum and manganese are some of the commonly used agricultural micronutrients. They are utilized to increase the yield and quality of agricultural products and are found in non-chelated and chelated forms. They also provide the essential nutrients required for optimal plant growth and development. They are widely used with soil, fertigation systems and foliar sprays. Micronutrients are mixed with dry and liquid fertilizers to provide uniform distribution of nutrients and promote plant metabolism.
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Micronutrients are utilized in plants for hormone balancing, auxin activity, enhancing flowering blooms and developing a uniform ripening process. The rising focus on plant nutrients for successful growth and optimum yields represents one of the key factors bolstering the market growth. Besides this, they improve sugar translocation and root strength, which helps develop large roots and supports overall plant immunity.
The global agricultural micronutrients market is primarily being driven by the rising incidences of micronutrient deficiency in the soil. Agricultural micronutrients are essential for the overall growth of the plant, especially in soil with low organic matter and high calcium carbonate content. Moreover, the widespread adoption of zinc chelate-based agricultural products is providing a thrust to the market growth as zinc is essential for the production of auxins that facilitate growth and stem elongation in plants. Other factors, including the widespread utilization of fertilizers enriched with micronutrients for protection against insects and ultraviolet (UV) radiations, along with the implementation of favorable government policies promoting the use of environment-friendly agrochemicals, are anticipated to drive the market toward growth. Looking forward, IMARC Group expects the global agricultural micronutrients market to exhibit moderate growth during 2021-2026.
As the novel coronavirus (COVID-19
) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- ATP Nutrition (Concentric Agriculture Inc.)
- Balchem Corporation
- BASF SE
- Compass Minerals International
- Coromandel International Ltd. (Murugappa Group and EID Parry)
- Corteva Inc.
- Helena Agri-Enterprises LLC (Marubeni Corporation)
- Nufarm Canada, Stoller USA Inc.
- The Mosaic Company
- Valagro SpA (Syngenta Crop Protection AG)
- Yara International ASA
- Zuari Agro Chemicals Ltd.
IMARC Group provides an analysis of the key trends in each sub-segment of the global agricultural micronutrients market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on type, crop type, form and application.
- Pulses and Oilseeds
- Fruits and Vegetables
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- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Performance (2015-2020)
- Outlook (2021-2026)
- Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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