Dublin, March 11, 2024 (GLOBE NEWSWIRE) -- The "Europe Micronutrient Fertilizer - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2016 - 2030" report has been added to ResearchAndMarkets.com's offering.
The European micronutrient fertilizer market is undergoing significant growth, as revealed in the latest comprehensive research publication added to our extensive database. Analysts forecast a promising outlook for the industry, with an expected market size surge from USD 1.60 billion in 2024 to USD 2.38 billion by 2030, advancing at a CAGR of 6.84% during the forecast period.
The research publication highlights zinc as the most substantial micronutrient segment due to the prevalence of alkaline and calcareous soils in Europe and the extensive cultivation of staple crops like maize and wheat, which necessitates more zinc-enriched fertilizers. Additionally, the boron segment is noted for its rapid growth, driven by the susceptibility of the region's sandy, acidic soils and high-calcium content to boron deficiency.
Field crops have emerged as the dominant crop type for micronutrient fertilizers in Europe, covering more than 95% of the total cropped area, a testament to the broad expanse of cultivation across the region. Focusing on geographic segmentation, Russia stands as the largest country-wise market, with the demand for micronutrient fertilizers fueled by the need to augment agricultural productivity to keep pace with the population's growing food requirements.
Key Market Dynamics and Trends
- Specialty micronutrient products lead the form segment, accounting for over 55% due to their widespread use in field crops, driven by technological advancements and scientific research.
- Zinc, copper, and iron are pivotal in the nutrient type category, with zinc alone commanding a market share of over 42% in 2021, illustrating its significance in addressing soil and plant deficiencies within Europe.
- The burgeoning awareness of soil health deterioration, the increase in high-value crop cultivation, and the informed adoption of advanced fertilizers are propelling the growth of the micronutrient fertilizer sector.
The European Micronutrient Fertilizer Market's consolidated nature sees the top companies holding an 87.12% majority. These industry leaders are driving innovation and growth, ensuring that the market remains dynamic and responsive to the evolving agricultural landscape.
A selection of companies mentioned in this report includes
- AGLUKON Spezialduenger GmbH & Co.
- Compo Expert GmbH
- Fertiberia
- Haifa Group Ltd
- Kingenta Ecological Engineering Group Co., Ltd.
- Sociedad Quimica y Minera de Chile SA
- Trade Corporation International
- Valagro
- Verdesian Life Sciences .
- Yara International ASA
For more information about this report visit https://www.researchandmarkets.com/r/wi7ldg
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