Dublin, Jan. 30, 2024 (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 agricultural micronutrients market is projected to ascend from USD 4.5 Billion in 2023 to an estimated USD 6.9 Billion by 2028.
The global agricultural sector is set to witness a significant surge as a fresh comprehensive research report on agricultural micronutrients marks its entrée into the market knowledge space. This research publication provides an in-depth analysis of the agricultural micronutrients market and is now available for review on our website. It sheds light on the burgeoning demand for essential micronutrients, crucial for optimizing crop health and yield, and securing the food demands of a growing global populace.
Displaying a robust compound annual growth rate (CAGR) of 8.6% during the forecast period, the market's expansion illustrates the critical role micronutrients play in contemporary agriculture. As soil nutrient imbalances remain a challenge, the application of micronutrients is increasingly acknowledged as a strategic imperative in advancing crop vitality and productivity.
Focusing on various forms of agricultural micronutrients, the report unveils that chelated micronutrients are expected to mark the fastest growth within the market. This segment's escalation is attributed to the enhanced efficiency in nutrient delivery and uptake, which chelated forms offer, ensuring better crop yields and fostering sustainable agricultural practices.
In terms of specific micronutrients, manganese emerges as a key element experiencing considerable growth in demand. Manganese's aptitude in facilitating vital processes such as photosynthesis and enzyme function places it firmly as a nutrient of focus for future agronomic applications.
Under the modes of application, the report highlights that the soil application method is poised for stronghold growth at a CAGR of 7.7%. This growth correlates with a focus on the balance and precise application of nutrients that serves to augment plant growth, ensure essential nutrient equilibrium, and rectify deficiency-induced growth impediments.
The research identifies North America as a dynamic growth region driven by a robust agricultural infrastructure and a discernible demand for crop nutrition solutions. The region’s farms are continuously seeking advanced agricultural inputs to surmount challenges related to soil health and the growing need for higher crop output.
Insights into competitive dynamics reveal that key market players, operating within the aggregated sphere of the agricultural micronutrients market, are focusing on innovation and market expansion strategies to solidify their footprint and cater to this escalating demand.
The report underscores key market drivers such as the increasing deficiency of micronutrients in various soil types and the elevated demand for food production. It also dissects restraining factors, opportunities such as the development of innovative products, and impending challenges, including sustainable sourcing of raw materials.
Agricultural practitioners and market analysts seeking to tap into the latest trends and harness actionable insights will find this publication to be a treasure trove of resourceful information that enhances decisions and strategies within the global agricultural micronutrients realm.
Report Highlights
- Micro-analysis of the rapidly expanding chelated micronutrients segment and its impactful role in today’s agri-market.
- Detailed insights into advancements and product launches that are propelling the market forward.
- Comprehensive examination of the market across high-growth geographies and sectors within the agricultural domain.
- Assessment of leading market players’ strategies and share in fostering an intricate understanding of competitive landscapes.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 301 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $4.5 Billion |
| Forecasted Market Value (USD) by 2028 | $6.9 Billion |
| Compound Annual Growth Rate | 8.6% |
| Regions Covered | Global |
Companies Mentioned
- BASF SE
- Nouryon
- Nufarm
- Yara International Asa
- Coromandel International Limited
- Land O’ Lakes, Inc
- Helena Agri-Enterprises, LLC
- The Mosaic Company
- Haifa Negev Technologies Ltd.
- Manvert
- Syngenta
- Zuari Agrochemical Ltd
- Stoller Enterprises, Inc.
- Balchem Corporation
- ATP Nutrition
- Wilbur-Ellis Holdings, Inc.
- BMS Micro-Nutrients NV
- Koch Agronomic Services, LLC
- Agroliquid
- Aries Agro Limited
- Green Rise Agro Industries
- Blue-Dip Organic Industries
- Napnutriscience
- Gitaji Pesticides Industries
- Nutrimax Agro
For more information about this report visit https://www.researchandmarkets.com/r/2yj8m1
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