An in-depth industry analysis is provided alongside market share data in a report recently published by Renub Research titled “Agriculture Micronutrients Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2028.” The most current adaptation to the Agriculture Micronutrients Market forecast is also examined, along with topographical vicinity, competing enterprises, and other factors.
Agricultural Micronutrients Market is projected to grow between 2022 and 2028 at a CAGR of 8.10%.For global food security and sustainable agriculture, the agricultural micronutrients market is essential. Micronutrients like zinc, iron, and manganese are critical for plant growth, yield optimization, and nutritional quality. By addressing nutrient deficiencies in soils, these products enhance crop productiveness, resilience, and overall health.
Besides, the rising global population and the consequent need for extended food production necessitate micronutrient supplementation to optimize crop yields. Environmental degradation and nutrient-depleted soils extend this demand. Furthermore, sustainable farming practices, precision agriculture, and regulatory guide for micronutrient use all make contributions to the agriculture micronutrients market promising outlook, indicating strong growth capacity in the coming years. Thus, Agricultural Micronutrients Market size is expected to generate US$8.20 Billion by 2028.
Precision agriculture, enabled by using IoT sensors and GPS, allows precise nutrient utility primarily based on real-time records, decreasing wastage, and optimizing plant health. Nanoencapsulation strategies enhance nutrient shipping performance, whilst biofortification techniques breed crops with evidently better micronutrient ranges. Remote sensing and drone generation allow efficient tracking of nutrient deficiencies throughout vast fields. These improvements foster sustainability, maximize crop yields, and decrease environmental effect, marking a transformative era in the agricultural micronutrients market, driven by using current technology.
Governments worldwide have enacted measures, including incentives and regulations, to boost the agricultural micronutrients market share, promoting soil health and crop yield. For instance, the allocation of research funding for innovative micronutrient technologies and implementation of initiatives like Soil Health Card scheme and National Food Security Mission, aimed at enhancing agricultural productivity and nutrition through balanced fertilization and personalized recommendations for nutrient deficiencies, further the agricultural micronutrients market in India.
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The Non-Chelated market is surging in the agricultural micronutrients market due to its eco-friendly and cost-effective attributes.
Farmers are increasingly interested by non-chelated micronutrients as they provide higher plant nutrition and also minimize environmental effect. These products are affordable, making them available to many farmers. Furthermore, non-chelated options are easier to apply and use, simplifying agricultural operations. With growing emphasis on sustainable and low in cost agricultural practices, the non-chelated sector is gaining popularity as a promising solution for growing crop yields and decreasing environmental impact.
Cereals are poised to dominate the agricultural micronutrients market share because of their sheer global consumption.
As staple plants like wheat, rice, and maize, cereals shape the nutritional foundation for billions. Micronutrient deficiencies in these plants may have far-reaching fitness and monetary results. Farmers increasingly understand the need to enhance cereal yields and dietary content. Consequently, there may be a developing call for micronutrient supplementation to cope with deficiencies and improve crop quality. This inherent importance ensures that cereals will hold the best market proportion in the agricultural micronutrients market forecast.
The prominence of Zinc in the agricultural micronutrients market is set to expand owing to its pivotal role in plant growth and nutrient absorption.
Zinc deficiency in soil can severely restrict crop yields, making it critical for farmers to complement their fields with this micronutrient. Moreover, growing consciousness of zinc’s wonderful impact on crop quality and its function in mitigating nutrient deficiencies in humans via fortified food production in addition boosts its demand. As sustainable agriculture gains traction, zinc’s significance in improving crop productivity and nutritional rate ensures its endured increase in the agricultural micronutrients market share.
The utilization of foliar sprays is anticipated to surge in the agricultural micronutrients market forecast through their exceptional efficiency and effectiveness.
Foliar application permits for direct nutrient absorption through leaves, bypassing soil-related problems like nutrient lockup or deficiencies. This approach offers speedy consequences, addressing immediate plant nutrient needs and enhancing overall crop health. With a growing recognition on precision agriculture and sustainable farming practices, foliar sprays are poised to gain prominence as a focused and efficient method to micronutrient transport, contributing to elevated yields and advanced crop quality.
Asia Pacific leads the agricultural micronutrients market share due to its diverse agriculture, extensive staple crop production, and micronutrient demand.
Population growth and food needs propel this dominance, supported by regular government investments and initiatives. Together, these factors position Asia Pacific at the leading edge of addressing agricultural and nutritional challenges.
Likewise, agricultural micronutrients market in India has a substantial share because of its diverse agriculture, global agricultural prominence, and varied crop nutrient needs. Soil deficiencies power extensive supplementation, with government initiatives such the National Food Security Mission promoting balanced fertilization and growth in the agricultural micronutrients market in India. The country with its substantial farming community and growing micronutrient cognizance, is pivotal in combatting agricultural deficiencies and maintaining crop productiveness.
Competitive Landscape.
Numerous major companies, including BASF SE, Nutrien Ltd., Coromandel International Ltd., Nufarm, The Mosaic Company, Compass Minerals International, Zuari Agro Chemicals Ltd., and Balchem, are major players in the agricultural micronutrients market.
Market Summary.
- Form- By Form, Agricultural Micronutrients Market, breakup in two viewpoints (Chelated and Non-Chelated).
- Crop Type- The Report covers Agricultural Micronutrients Market, by crop type in four viewpoints (Cereals, Pulses & Oilseeds, Fruits & Vegetables, and Others).
- Nutrients Type- By Nutrients Type, Agricultural Micronutrients Market, breakup in four viewpoints (Iron, Zinc, Manganese, and Others).
- Application Type- According to Application Type, Agricultural Micronutrients Market, breakup in five viewpoints (Soil Application, Foliar, Fertigation, Seed Treatment, and Others).
- Region- Renub Research report on the Agricultural Micronutrients Market covers by region in five viewpoints (Asia-Pacific, North America, Europe, South America, and Rest of World).
- Key Players- All the major players in the Agricultural Micronutrients Market have been covered from three Viewpoints (Overview, Strategy, and Sales) BASF SE, Nutrien Ltd., Coromandel International Ltd., Nufarm, The Mosaic Company, Compass Minerals International, Zuari Agro Chemicals Ltd., and Balchem.
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