As per a new report published by Fact.MR – a market research and competitive intelligence provider, the global agricultural micronutrients market is anticipated to reach a valuation of US$ 4.9 Bn in 2021, and expand at a steady CAGR of 3.6% over the forecast period of 2021 to 2031.

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.

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Market Segments Covered in Agricultural Micronutrients Industry Analysis

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

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