Dublin, Sept. 02, 2024 (GLOBE NEWSWIRE) -- The "Global Agricultural Micronutrients Market Report By Nutrient Type, Form, Crop Type, Application, Countries and Company Analysis 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The Global Agricultural Micronutrients Market will US$ 10.14 billion in 2032, up from US$ 5.19 billion 2023, with a CAGR of 7.73% between 2024 to 2032. An increase in population of diverse population and the increasing need to ensure adequate food supplies will drive the market during the forecast period.
The presence of micronutrient will hasten metabolic activities of the plants and other quality parameters, availability of other nutrients like iron which is important in the synthesis of chlorophyll and photosynthesis to enhance yield. This role was very crucial during the Green Revolution era as there was a great increase in food production, especially grains, often at the cost of soils.
The use of fertilizer in growth of HYVs led also to malnutrition of the soils thereby reducing the nutrient availabilities. The following are known to be important nutrients that are required by plants of which at least 17 are known. Micronutrients that are offered by the soil comprise of iron, manganese, boron, molybdenum, copper, zinc, chlorine, and cobalt though in small amounts.
The Asia Pacific agricultural micronutrient market grows at a very fast pace due to the large scale of agriculture and the rising food needs. These include; population increase, increased food processing marketing and urbanization, changes in diet and desire for quality produce. Increased awareness of the yields and quality of crops by small holder farmers due to resulting from the use of micronutrients is leading to growth if the market.
Due to high production and demand for food and agricultural products, companies operational in China, India, and Japan are considered more influential in micronutrient for agriculture markets operational in the Asian Pacific region. As per the NIC database of India, the country is second in agricultural production all over the world. It is a main supplier of assorted aqueous agricultural products that help greater growth for the farm micronutrient market in the country and, in effect, inside the Asia Pacific. Major players in the markets of Asian agricultural micronutrients are anticipated to be Indonesia, Vietnam, and Thailand in the coming years.
Factor Driving the Global Agricultural Micronutrients Industry
Raising awareness and promoting the use of different micronutrients
Educating the society on various micronutrients that are available and the benefits that come with using different micronutrients are paramount for improving crop production and food security. There are essential microminerals Still that include Iron Zinc Copper Manganese and Boron that are very significant to plants' growth, developments, and health.
Through awareness creation on the aspects of these micronutrients, farmers will be informed on the ways to take proper care on soil management and application of fertilizers. It is possible to leverage awareness campaigns, training, and informative resources to promote women's use of MISt-containing fertilisers and practice the efficient use of micronutrients in crop production. It enhances agricultural yields and a favorable nutrition value of food crops, and this eradicates malnutrition and health complications affecting societies that depend on farming.
The world's population is growing, and there are increasing worries about food security.
As the global demos grows in concern with food secure, it becomes even more imperative. As more people are being born hence people to feed more pressure is put on producers, distributors and availability of food. Eradicating this problem is not only necessary; it is mandatory. Supporting improved methods of farming and decent facilities for food storage together with the promotion of efficient ways of food preservation can go along way in making effective solutions to change the approach on food security for the worse.
Food security can not be secured without sustainable production of food and the active participation of his community in food production for the increasing population globally. Among the report's findings ho includes the World Bank's expected global population to hit 9 billion people. 7 billion people require a fifty percent increase in agricultural productivity for food consumption to be met.
Integration of digital technologies into agriculture:
Digital technologies help organizations to achieve the goal of automation and improve efficiency in the business processes. Using data analytics, AI, and IoT devices is another path to the increase of the production and operational effectiveness of companies. These technologies also has brought in other means with which businesses can interact with their customers through social media, purchase and sales, advertisements among others which makes the interactions with customers to be more specific and thus leads to a better understanding of the consumers.
The intertwining of digitization enhances concept generation for new products, business models and services leading to innovations and identification of new revenues. Further, through having access to large amounts of data, it is also possible to make efficient decisions with reference to its analysis of the trends in the marketplace, the contingent's behavior, as well as organizational performance.
Growing Interest in Biofortifying Crops
Iron or vitamin A enhanced sweet potatoes and beans for instance are instances of bio fortified crops. They supplement the available nutrients in the community in a way that is sustainable and within easy reach for consumption especially for persons in the community that may not be able to afford energy dense foods most of the time. It has for instance been described that biofortification seeks to solve the crisis of low micronutrient levels in the staple foods thus the nutritional status is improved reducing the ability of diseases to affect people who have been biofortified.
First of all, biofortified varieties have higher potential to better withstand the adverse weather conditions and contain higher resistance towards pests and diseases, which improves the crop resilience and food security. It also adds to the crop yields and or the market value of the produce, hence improving farmers' income and productivity. This approach can be applied to the different staple crops, for example rice, maize, wheat and cassava, so different and healthy diet affordable by multiple population is freely available.
Company Analysis: Overviews, Recent Developments, Product Portfolio, Revenue
- BASF SE
- Compass Minerals
- Coromandel International
- Deepak Fertilizers
- Nouryon
- Nufarm
- Nutrien Ltd
- Yara International
- The Mosaic Company
Form - Market is divided into 2 viewpoints
- Chelated
- Non-Chelated
Crop Type - Market is divided into 4 viewpoints
- Fruits & Vegetables
- Cereals & Grains
- Oilseeds & Pulses
- Other Crop Types
Nutrient Type - Market is divided into 6 viewpoints
- Zinc
- Boron
- Iron
- Molybdenum
- Manganese
- Others
Application - Market is divided into 3 viewpoints
- Soil
- Foliar
- Fertigation
Countries - Market breakup of 25 Countries
North America
- United States
- Canada
Europe
- France
- Germany
- Italy
- Spain
- United Kingdom
- Belgium
- Netherlands
- Turkey
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Thailand
- Malaysia
- Indonesia
- New Zealand
Latin America
- Brazil
- Mexico
- Argentina
Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
For more information about this report visit https://www.researchandmarkets.com/r/m29vfp
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
