Dublin, April 22, 2022 (GLOBE NEWSWIRE) -- The "Global Agricultural Micronutrients Market by Type (Zinc, Boron, Iron, Manganese, Molybdenum, and Copper), Mode of Application (Soil, Foliar, and Fertigation), Form (Chelated and Non-Chelated micronutrients), Crop Type and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global market for agricultural micronutrients is estimated at USD 4.3 Billion in 2022; it is projected to grow at a CAGR of 8.6% to reach USD 6.4 Billion by 2027.
Factors such as an increase in micronutrient deficiency in soils, demand for high crop production and quality, increasing food security concern, and supporting government policies are projected to drive the growth of this market.
The zinc segment, is accounted for the highest share by type in the agricultural micronutrients market throughout the forecasted period
Zinc is one of the most essential micronutrients required by plants in small quantities. Sandy soil, highly leached acid soil and soils having poor organic content, show low zinc contents. The symptoms of zinc deficiency include reduced height, interveinal chlorosis, and brown spots on upper leaves. Zinc deficiency is the most common problem witnessed globally, mainly for cereals and grains, hence the demand for zinc as a micronutrient is high in the agricultural micronutrients market.
The fruits & vegetables segment by crop type is estimated to account for the largest market share in the global agricultural micronutrients market
Agricultural micronutrients are gaining importance among the fruits & vegetable growers because of their beneficial nutritional support and at the same time, ensure better harvest and returns. Zinc deficiency commonly affects fruits such as banana, custard apple and mangoes. In citrus production, the molybdenum deficiency called as yellow spot is commonly observed. Hence proper plant nutrition is essential for the proper growth of fruits & vegetables globally
Foliar application segment, by mode of application is projected to be the largest segment in the agricultural micronutrients market during the forecast period
Foliar mode of application is widely used for the application of micronutrients, particularly iron and manganese, for various crops. It is mostly used for fruits, vegetables, and flower crops. Foliar sprays are advantageous to meet the internal demand of micronutrients during flowering when soil moisture and temperature is not favorable for growth of the crop.
For micronutrients to be applied in extremely smaller quantities, foliar sprays give an advantage of ease of application as compared to soil and fertigation. All these reasons make it the largest segment in the market.
Non-chelated application segment, by form is projected to be the largest segment in the agricultural micronutrients market during the forecast period
Non-chelated micronutrients are more widely used than chelated ones, as they are easily available and inexpensive. These micronutrients are marketed in the form of sulfates, such as zinc sulfate, iron sulfate, and copper sulfate. However, there is an increasing awareness among farmers about the benefits of chelated micronutrients, as they offer enhanced nutrient efficiency and improved absorption as compared to non-chelated micronutrients
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Agricultural Micronutrients Market
4.2 Agricultural Micronutrients Market: Growth Rate of Major Regional Submarkets
4.3 Asia-Pacific: Agricultural Micronutrients Market, by Key Type & Country
4.4 Agricultural Micronutrients Market, by Type
4.5 Agricultural Micronutrients Market, by Crop Type
4.6 Agricultural Micronutrients Market, by Mode of Application
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increase in Micronutrient Deficiency in Soil
5.2.1.2 Rise in Focus on Crop Production and Quality
5.2.1.3 Supporting Policies from the Government
5.2.2 Restraints
5.2.2.1 Booming Organic Fertilizer Industry
5.2.2.2 Bio-Accumulation of Non-Biodegradable Chelates
5.2.3 Opportunities
5.2.3.1 Development of Biodegradable Chelates
5.2.4 Challenges
5.2.4.1 Poor Awareness Among the Developing Regions Regarding the Benefits of Micronutrients
5.2.4.2 Need for Sustainable Sourcing of Raw Materials
5.3 Macroeconomic Indicators
5.3.1 Decrease in Arable Land Around the Globe
5.3.2 Growth in Production of High-Value Crops
5.3.3 Rise in Importance of Micronutrients in Human Consumption
5.4 Impact of COVID-19 on Market Dynamics
5.5 Trends & Disruptions Impacting Consumers' Businesses
5.6 Pricing Analysis
5.7 Value Chain Analysis
5.8 Market Ecosystem/Market Map
5.9 Technology Analysis
5.10 Patent Analysis
5.11 Trade Analysis
5.12 Key Conferences and Events
5.13 Tariff & Regulatory Landscape
5.14 Porter's Five Forces Analysis
5.15 Case Studies
5.15.1 New Environment-Friendly Fertilizer Increased the Bioavailability of Micronutrients
5.15.2 Soil Micronutrient Availability in Groningen, Netherlands
6 Agricultural Micronutrients Market, by Type
6.1 Introduction
6.1.1 COVID-19 Impact on the Agricultural Micronutrients Market, by Type
6.1.1.1 Optimistic Scenario
6.1.1.2 Realistic Scenario
6.1.1.3 Pessimistic Scenario
6.2 Zinc
6.2.1 Zinc-Based Fertilizer Demand is Stable in the Market as It is a Scarce Nutrient
6.3 Boron
6.3.1 Complex Soil Conditions and Plant Physiologies Make It Difficult to Manage Boron Supplementation
6.4 Iron
6.4.1 Unabsorbable Existent Form of Iron Fuels Demand in the Agricultural Sector
6.5 Molybdenum
6.5.1 Demand for Molybdenum to be Higher Among the Farmers Undertaking Leguminous Crops
6.6 Copper
6.6.1 Copper Has a Major Role in Carbohydrate and Nitrogen Metabolism
6.7 Manganese
6.7.1 Irregular Deposits of Manganese Across Regions Fuel Demand in Regions Experiencing a Deficit
6.8 Other Types
7 Agricultural Micronutrients Market, by Crop Type
7.1 Introduction
7.1.1 COVID-19 Impact on the Agricultural Micronutrients Market, by Crop Type
7.1.1.1 Optimistic Scenario
7.1.1.2 Realistic Scenario
7.1.1.3 Pessimistic Scenario
7.2 Cereals & Grains
7.2.1 Micronutrient Deficiencies in Major Staple Crops to Drive Market
7.2.1.1 Corn
7.2.1.2 Wheat
7.2.1.3 Rice
7.2.1.4 Other Cereals & Grains
7.3 Fruits & Vegetables
7.3.1 Concern Regarding Balanced Nutrition to Drive Application in Fruits and Vegetables
7.4 Oilseeds & Pulses
7.4.1 Rise in Demand from the Feed Industry for Oilseeds to Promote the Application of Micronutrients
7.4.1.1 Soybean
7.4.1.2 Canola
7.4.1.3 Other Oilseeds & Pulses
7.5 Other Types
8 Agricultural Micronutrients Market, by Form
8.1 Introduction
8.1.1 COVID-19 Impact on the Agricultural Micronutrients Market, by Form
8.1.1.1 Optimistic Scenario
8.1.1.2 Realistic Scenario
8.1.1.3 Pessimistic Scenario
8.2 Chelated Micronutrients
8.2.1 Higher Bioavailability of Micronutrients Drives Adoption of Chelated Micronutrients
8.2.1.1 Ethylene Diamine-Tetra-Acetic Acid (Edta)
8.2.1.2 Ethlyenediamine Di-2-Hydroxyphenyl Acetate (Eddha)
8.2.1.3 Diethylene-Triamine Penta-Acetic Acid (Dtpa)
8.2.1.4 Iminodisuccinic Acid (Idha)
8.2.1.5 Other Chelated Micronutrients
8.3 Non-Chelated Micronutrients
8.3.1 Cheaper Rates of Non-Chelated Micronutrients to Drive Preference
9 Agricultural Micronutrients Market, by Mode of Application
9.1 Introduction
9.1.1 COVID-19 Impact on the Agricultural Micronutrients Market, by Mode of Application
9.1.1.1 Optimistic Scenario
9.1.1.2 Realistic Scenario
9.1.1.3 Pessimistic Scenario
9.2 Soil
9.2.1 Reduced Cost and Uniform Distribution of Micronutrients to Promote Soil Mode of Application
9.3 Foliar
9.3.1 Low Rates of Application and Immediate Response to Applied Nutrients to Drive Foliar Application
9.4 Fertigation
9.4.1 Improved Nutrient Use Efficiency to Drive the Fertigation Application
9.5 Other Modes of Application
10 Agricultural Micronutrients Market, by Region
11 Competitive Landscape
11.1 Overview
11.2 Market Share Analysis
11.3 Key Player Strategies
11.4 Revenue Analysis of Key Players
11.5 COVID-19-Specific Company Response
11.5.1 Yara International Asa
11.5.2 Nutrien Ltd
11.5.3 The Mosaic Company
11.6 Company Evaluation Quadrant (Key Players)
11.6.1 Dynamic Differentiators
11.6.2 Innovators
11.6.3 Visionary Leaders
11.6.4 Emerging Companies
11.7 Start-Up/Sme Evaluation Quadrant
11.7.1 Progressive Companies
11.7.2 Starting Blocks
11.7.3 Responsive Companies
11.7.4 Dynamic Companies
11.8 Product Footprint
11.9 Competitive Scenario
11.9.1 New Product Launches
11.9.2 Deals
11.9.3 Others
12 Company Profiles
12.1 Basf Se
12.2 Akzonobel (Nouryon)
12.3 Nutrien Ltd.
12.4 Nufarm
12.5 Yara International Asa
12.6 Coromandel International Ltd
12.7 Land O' Lakes
12.8 Helena Chemical Company
12.9 The Mosaic Company
12.10 Haifa Group
12.11 Sapec S.A.
12.12 Compass Minerals International
12.13 Valagro
12.14 Zuari Agrochemicals Ltd
12.15 Stoller Enterprises Inc
12.16 Balchem
12.17 Atp Nutrition
12.18 Baicor Lc
12.19 Corteva Inc
12.2 Bms Micronutrients Nv
13 Adjacent & Related Markets
14 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/rja1k9
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