The global agricultural micronutrients market is anticipated to reach a valuation of US$ 4.9 Billion in 2022 and is expected to gain a market value of US$ 7 Billion by the end of the forecast period. The market for agricultural micronutrients, and expand at a steady CAGR of 3.6% over the forecast period of 2022 to 2032.
Near perfect competitive market with a bundle of players supplying the product has stabilized price points. This has compelled most market players to lower their margins by 5%.
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Diets with low nutrients can be blamed for an increase in occurrence of micronutrient deficiency across populations. Micronutrient deficiencies in the soil not only reduce crop yield but also nutritional quality. Moreover, lower micronutrients in crops have adverse effects on human health.
Agronomic bio-fortification improves the bioavailability of micronutrients in the edible portion of crops as well as the bioavailability of processed foods consumed by humans. Various governments’ attempts to regulate micronutrient deficiency by increasing the content of agricultural micronutrients in agricultural produce are pushing the market for agricultural micronutrients.
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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.
Market Segments Covered in Agricultural Micronutrients Industry Analysis
- By Nutrient
- Boron Agricultural Micronutrients
- Manganese Agricultural Micronutrients
- Zinc Agricultural Micronutrients
- Copper Agricultural Micronutrients
- By Crop
- Agricultural Micronutrients for Cereals & Grains
- Agricultural Micronutrients for Fruits & Vegetables
- Agricultural Micronutrients for Oilseeds & Pulses
- By Application
- Soil Agricultural Micronutrients for
- Fertigation Agricultural Micronutrients for
- Foliar Agricultural Micronutrients for
- Seed Treatment Agricultural Micronutrients for
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
- CIS & Russia
- Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
- Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa , Rest of MEA)
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The report covers following Agricultural Micronutrients Market insights and assessment that are helpful for all participants involved in the Intradermal Injections market:
- Data on recently introduced regulations and their impact on key industries and on demand in Intradermal Injections
- Latest industry Analysis on Agricultural Micronutrients Market, with key analysis of market drivers, trends, and influencing factors
- Key trends Analysis of Agricultural Micronutrients Market and changing consumer preferences in major industries.
- Changing Intradermal Injections demand and consumption of diverse products
- Major trends underlining funding by key investors in numerous countries
- New investment opportunities in diverse technology and product or service types
- Comprehensive data and Competitive analysis of Intradermal Injections major players
- Agricultural Micronutrients Market sales in US will grow at a steady pace, driven by growing consumer confidence and economic recovery
- Intradermal Injections demand forecast in Europe remains stable, as many countries such as UK, France, and Germany focus on boosting growth
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