Agricultural Micronutrients Market Anticipated To Project A Moderate CAGR Of 3.6% Over The Coming 10 Years

According to a recent report released by Fact.MR, a supplier of market research and competitive intelligence, the global agricultural micronutrients market is projected to reach US$ 4.9 billion in 2021 and grow at a consistent CAGR of 3.6% from 2021 to 2031.

Micronutrient deficiencies are becoming more common among populations, which can be attributed to diets that are poor in nutrients. Both agricultural yield and food quality are impacted by soil micronutrient deficits. Furthermore, crops with decreased micronutrient levels have a negative impact on human health.

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Key Takeaway from Market Study

  • Global agricultural micronutrients market is anticipated to hit US$ 7 Bn valuation by 2031.
  • The market is estimated to expand at a CAGR of 3.6% during the forecast period of 2021 to 2031.
  • By nutrient, the zinc segment is expected to have a dominant share in the global market.
  • North America accounted for over 15% of global demand for agricultural micronutrients in 2020.
  • The Asia Pacific region to dominate the demand pie of agricultural micronutrients.
  • Cereals and grains to dominate demand and sales share of agricultural micronutrients in FY2021.
  • Fertigation application of agricultural micronutrients is anticipated to grow at a rapid pace over the forecast period.

“New product launches and product innovation in agricultural micronutrients are key drivers for market players across regions,” says a Fact.MR analyst.

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Competition Landscape

Most companies discussed in the study have focused on expansion, investments, acquisitions, delivery focus, portfolio expansion, and brand development.

Some of the key developments are:

  • Rocket Seeds Moly Shine, a special seed finisher with the added value of micronutrients, was introduced by Compass Minerals in December 2019. Soybeans and legumes are great candidates for this product.
  • AkzoNobel Specialty Chemicals in collaboration with INEOS Nitriles had announced in April 2018 to increase development of biodegradable chelates and micronutrients.

Similarly, recent developments related to companies manufacturing agricultural micronutrients have been tracked by the team at Fact.MR, which are available in the full report.

Market Segments Covered in Agricultural Micronutrients Industry Analysis

  • By Nutrient
    • Boron
    • Manganese
    • Zinc
    • Copper
    • Others
  • By Crop
    • Cereals & Grains
    • Fruits & Vegetables
    • Oilseeds & Pulses
    • Others
  • By Application
    • Soil
    • Fertigation
    • Foliar
    • Seed Treatment
    • Others

This research provides thorough information on:

Study of policies in developed and developing countries to understand what factors are vital in aiding participants to recover following COVID-19 epidemic. Important rules and standards adopted by governmental organisations together with a focus on potential modifications in the post-COVID period.
estimation of the size and proportions of significant product segments
research into various technologies that are crucial to the market for agricultural micronutrients in terms of driving demand
A summary of current and upcoming research and development projects by private Air Springs industry participants and public entities
a thorough examination of the financial repercussions that the COVID-19 epidemic would likely have in many global locales in the months to come

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