As stated by our extensive
report, provides insights on type, application, form, crop type, and geography.
Micronutrients Market Market accounted for USD 3.6 billion in 2020.
Micronutrients like copper, iron, boron, iron, zinc, are believed to be important micronutrients for agriculture. As the depletion of micronutrients can cause different diseases in crops that may decrease the property and quantity of the crop. Growing importance for genetically modified (GM) crops throughout the world are also potential to affect the demand of the global market for agriculture micronutrients.
The deficiency of micronutrients occurs worldwide but changes to the weather, soil condition, rain, and additional environmental conditions. An increase in soil micronutrient shortage throughout the globe and usage of micronutrient fertilizers in agriculture will boost the global agricultural micronutrients market.
At the time of the pandemic outburst, supply chain disturbances were observed in the industry. These disturbances in the supply chain happened due to a deficiency in raw materials, employees, and limitations on transportation. But the functions were back to normal on the upliftment of the shutdown. Additionally, high support by the World Health and government, increased demand, and modification in strategies by micronutrient factories have positively impacted the global micronutrient manufacturer.
Increasing micronutrient deficiency in the soil to propel development although agricultural micronutrients are needed in small amounts, they are important for general plant growth. The insufficient supply of nutrients leads to the depletion of nutrients in plants, thereby reducing their production. Therefore, the rise in micronutrient depletion in the soil will fuel the global agricultural micronutrients market development in the future.
Asia Pacific is expected to grow at the fastest CAGR during the forecast period. Main produced contain rice, fruits & vegetables, and grains; the region and due to the rapidly increasing population boosting the demand for nutritious agriculturemicronutrients market growth in the Asia Pacific region.
Some of the prominent players of Agricultural Micronutrients Market market are BASF SE (Germany), AkzoNobel (Netherlands), Nutrien, Ltd.(Canada), Nufarm (Australia), Coromandel International Ltd. (India), Helena Chemical Company (US), Yara International ASA (Norway), The Mosaic Company (US), Haifa Group (Israel), Sapec SA (Belgium), Compass minerals international (US), Valagro (Italy), Zuari Agrochemicals Ltd (India), Stoller Enterprises Inc (US), Balchem (US), ATP Nutrition (Canada), Baicor LC (US), Corteva Inc (US), and BMS Micronutrient NV (Belgium)..