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In 2022, the market for agricultural micronutrients was estimated to be worth $5.12 billion. With a CAGR of 9.4% between 2023 and 2030, the Agricultural Micronutrients Market is expected to increase in value from USD 5.15 Billion in 2023 to USD 9.9 Billion by 2030. The rising global population, especially in developing and underdeveloped countries, has heightened the importance of ensuring adequate food supplies. During the forecast period, the market for agricultural micronutrients is expected to be driven by the aforementioned main market drivers.
Fertilizer application to crops is affected by factors such as soil type, soil fertility level within soil types, ratio of available nutrients, crop type, and weather conditions. Human activities, such as the delay in fertilizer application by farmers as a result of the COVID-19 pandemic, have a negative effect on soil fertility. In the wake of the COVID-19 pandemic, there is a pressing need to apply new strategies for improving the efficiency with which agricultural inputs like fertilizer are used. The effect of mineral fertilizer shortages on soil and production efficiency is the most important component of agriculture to think about during the COVID-19 epidemic. Nitrogen (N) and phosphorus (P), two crucial plant nutrients, require close scrutiny. Sustainable nutrient management refers to the practice of applying micronutrients in order to replace the nutrients lost during crop harvest. Fertilizer imports have been halted due to the lockout and border restriction.
Increases in growers' knowledge of plant nutrition and technological progress are likely to drive the market forward during the next few years. The number of farmers, public understanding of the importance of proper plant nutrition, and demand for agricultural micronutrients have all increased in recent years. The practice of adding zinc to corn has gained popularity around the world. Growth in the business is predicted to be fueled in part by advances in precision farming equipment that will allow for more effective use of micronutrients. Crop diseases are often caused by a lack of micronutrients, which are only available in trace amounts to the plant. Variations in temperature, humidity, and soil pH cause flaws and micronutrient imbalances in the crops. Soil micronutrient availability decreases as pH increases. NGOs and governments alike are emphasizing mineral fertilization activities as a means to alleviate shortages.
Micronutrients are plant nutrients that are needed at extremely low concentrations. There is a specialized role for each vitamin in a plant's metabolic system. Soil erosion, monoculture, leaching, and other practices can deplete soil of its natural nutrients despite their presence. Soil deficiency in micronutrients may lead to a decrease in plant health, growth, and yield. Soil, fertigation, and foliar spray are all methods of application for micronutrients.
Crop diseases can be caused by a lack of micronutrients, which are only available in trace amounts to the plant. Humidity, temperature, and soil pH are the primary causes of micronutrient imbalances and deficiencies in soils around the world. Soil micronutrient availability decreases as soil pH increases. Government agencies and non-profits alike are emphasizing mineral fertilization techniques as a means to alleviate shortages. Countries like China, the United States, and India consume roughly half of the mineral fertilizer nutrients, per FAO data. Consumption of these nitrogen fertilizers is predicted to increase to 199 million tonnes (219.3 million tons) by 2030, according the same source. While many nations have achieved food self-sufficiency, improved farming techniques are still required to meet the public's need for nutritious meals. Many nations are shifting toward what are called "Integrated Nutrient Practices." Humanity's present nutrition problems are linked to soils that have dwindling micronutrient concentration. However, these can be restored to a healthy state utilizing a variety of commercially available solutions, such as straight, chelated, micronutrient combinations.
The "Megatrends in the Agri-Food Sector" report from the European Parliament suggests that the general trend in developed-world food consumption is toward healthier foods sourced from healthier and safer environments. As a result, the public is waking up to the fact that commercial agriculture and the widespread use of chemical and synthetic fertilizers pose major health risks to humans. Thus, people in countries where food output exceeds food consumption tend to prioritize food quality. Today, organic farming is practiced in over 181 countries. The "World Organic Agriculture- Statistics and Emerging Trends" study for 2017 states that out of a total of 69.8 million hectares of farmland, the largest areas are in Australia (35.6 million hectares), Argentina (3.4 million hectares), and China (3.1 million hectares). Farmers from countries like India, Uganda, and Mexico account for the majority of the industry's 2.9 million workers. The developed-world organic market is expanding rapidly, with the United States, Germany, and France constituting the most significant markets and an estimated USD 97 billion market in 2017. Thus, the production of organic food would rise together with the expansion of the organic market. Organic agriculture inputs, such as organic fertilizers made from plant and animal matter, would be in higher demand as a result of the growth in organic food production. Due to rising organic fertilizer demand, the industry that produces micronutrients may soon face new competition.
Report Coverage
Global Agricultural Micronutrients research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Agricultural Micronutrients report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Agricultural Micronutrients competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Agricultural Micronutrients market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Agricultural Micronutrients market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Agricultural Micronutrients market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
CHR. Hansen Holdings A/S (Denmark), Lallemand Inc. (Canada), Novus International Inc. (U.S.), DSM (Netherlands), BASF SE (Germany), Alltech Inc. (U.S), ADM (U.S.), Charoen Popkhand Foods (Thailand), Associated British Foods Plc (U.K.), Cargill Incorporated (U.S.), Upside Foods (U.S.), MosaMeat (Netherlands), Integriculture Inc. (Japan), Aleph Farms Ltd (Israel), Finless Foods Inc. (U.S.), AVANTMEATS.COM (China), Balletic Inc. (U.S.), AkzoNobel (Netherlands), Nutrien Ltd. (Canada), Yara International ASA (Norway), The Mosaic Company (US), Compass Minerals International (US), Valagro (Italy), Nufarm (Australia), Coromandel International Ltd. (India), Helena Chemical Company (US), Zuari Agrochemicals Ltd (India), and Others.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Agricultural Micronutrients market based on the below-mentioned segments:
Global Agricultural Micronutrients Market, By Type
Zinc
Boron
Iron
Molybdenum
Copper
Manganese
Global Agricultural Micronutrients market, By Crop Type
Cereals & Grains
Oilseeds & Pulses
Fruits & Vegetables
Global Agricultural Micronutrients Market, By End User
Soil
Foliar
Fertigation
Global Agricultural Micronutrients market, Regional Analysis
Fertilizer application to crops is affected by factors such as soil type, soil fertility level within soil types, ratio of available nutrients, crop type, and weather conditions. Human activities, such as the delay in fertilizer application by farmers as a result of the COVID-19 pandemic, have a negative effect on soil fertility. In the wake of the COVID-19 pandemic, there is a pressing need to apply new strategies for improving the efficiency with which agricultural inputs like fertilizer are used. The effect of mineral fertilizer shortages on soil and production efficiency is the most important component of agriculture to think about during the COVID-19 epidemic. Nitrogen (N) and phosphorus (P), two crucial plant nutrients, require close scrutiny. Sustainable nutrient management refers to the practice of applying micronutrients in order to replace the nutrients lost during crop harvest. Fertilizer imports have been halted due to the lockout and border restriction.
Increases in growers' knowledge of plant nutrition and technological progress are likely to drive the market forward during the next few years. The number of farmers, public understanding of the importance of proper plant nutrition, and demand for agricultural micronutrients have all increased in recent years. The practice of adding zinc to corn has gained popularity around the world. Growth in the business is predicted to be fueled in part by advances in precision farming equipment that will allow for more effective use of micronutrients. Crop diseases are often caused by a lack of micronutrients, which are only available in trace amounts to the plant. Variations in temperature, humidity, and soil pH cause flaws and micronutrient imbalances in the crops. Soil micronutrient availability decreases as pH increases. NGOs and governments alike are emphasizing mineral fertilization activities as a means to alleviate shortages.
Micronutrients are plant nutrients that are needed at extremely low concentrations. There is a specialized role for each vitamin in a plant's metabolic system. Soil erosion, monoculture, leaching, and other practices can deplete soil of its natural nutrients despite their presence. Soil deficiency in micronutrients may lead to a decrease in plant health, growth, and yield. Soil, fertigation, and foliar spray are all methods of application for micronutrients.
Crop diseases can be caused by a lack of micronutrients, which are only available in trace amounts to the plant. Humidity, temperature, and soil pH are the primary causes of micronutrient imbalances and deficiencies in soils around the world. Soil micronutrient availability decreases as soil pH increases. Government agencies and non-profits alike are emphasizing mineral fertilization techniques as a means to alleviate shortages. Countries like China, the United States, and India consume roughly half of the mineral fertilizer nutrients, per FAO data. Consumption of these nitrogen fertilizers is predicted to increase to 199 million tonnes (219.3 million tons) by 2030, according the same source. While many nations have achieved food self-sufficiency, improved farming techniques are still required to meet the public's need for nutritious meals. Many nations are shifting toward what are called "Integrated Nutrient Practices." Humanity's present nutrition problems are linked to soils that have dwindling micronutrient concentration. However, these can be restored to a healthy state utilizing a variety of commercially available solutions, such as straight, chelated, micronutrient combinations.
The "Megatrends in the Agri-Food Sector" report from the European Parliament suggests that the general trend in developed-world food consumption is toward healthier foods sourced from healthier and safer environments. As a result, the public is waking up to the fact that commercial agriculture and the widespread use of chemical and synthetic fertilizers pose major health risks to humans. Thus, people in countries where food output exceeds food consumption tend to prioritize food quality. Today, organic farming is practiced in over 181 countries. The "World Organic Agriculture- Statistics and Emerging Trends" study for 2017 states that out of a total of 69.8 million hectares of farmland, the largest areas are in Australia (35.6 million hectares), Argentina (3.4 million hectares), and China (3.1 million hectares). Farmers from countries like India, Uganda, and Mexico account for the majority of the industry's 2.9 million workers. The developed-world organic market is expanding rapidly, with the United States, Germany, and France constituting the most significant markets and an estimated USD 97 billion market in 2017. Thus, the production of organic food would rise together with the expansion of the organic market. Organic agriculture inputs, such as organic fertilizers made from plant and animal matter, would be in higher demand as a result of the growth in organic food production. Due to rising organic fertilizer demand, the industry that produces micronutrients may soon face new competition.
Report Coverage
Global Agricultural Micronutrients research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Agricultural Micronutrients report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Agricultural Micronutrients competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Agricultural Micronutrients market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | CHR. Hansen Holdings A/S (Denmark), Lallemand Inc. (Canada), Novus International Inc. (U.S.), DSM (Netherlands), BASF SE (Germany), Alltech Inc. (U.S), ADM (U.S.), Charoen Popkhand Foods (Thailand), Associated British Foods Plc (U.K.), Cargill Incorporated (U.S.), Upside Foods (U.S.), MosaMeat (Netherlands), Integriculture Inc. (Japan), Aleph Farms Ltd (Israel), Finless Foods Inc. (U.S.), AVANTMEATS.COM (China), Balletic Inc. (U.S.), AkzoNobel (Netherlands), Nutrien Ltd. (Canada), Yara International ASA (Norway), The Mosaic Company (US), Compass Minerals International (US), Valagro (Italy), Nufarm (Australia), Coromandel International Ltd. (India), Helena Chemical Company (US), Zuari Agrochemicals Ltd (India), and Others. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Agricultural Micronutrients Market from 2021 to 2030.
- Market Forecast for Agricultural Micronutrients Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Agricultural Micronutrients competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Agricultural Micronutrients
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Agricultural Micronutrients market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Agricultural Micronutrients market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
CHR. Hansen Holdings A/S (Denmark), Lallemand Inc. (Canada), Novus International Inc. (U.S.), DSM (Netherlands), BASF SE (Germany), Alltech Inc. (U.S), ADM (U.S.), Charoen Popkhand Foods (Thailand), Associated British Foods Plc (U.K.), Cargill Incorporated (U.S.), Upside Foods (U.S.), MosaMeat (Netherlands), Integriculture Inc. (Japan), Aleph Farms Ltd (Israel), Finless Foods Inc. (U.S.), AVANTMEATS.COM (China), Balletic Inc. (U.S.), AkzoNobel (Netherlands), Nutrien Ltd. (Canada), Yara International ASA (Norway), The Mosaic Company (US), Compass Minerals International (US), Valagro (Italy), Nufarm (Australia), Coromandel International Ltd. (India), Helena Chemical Company (US), Zuari Agrochemicals Ltd (India), and Others.
Primary Target Market
- Market Players of Agricultural Micronutrients
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Agricultural Micronutrients market based on the below-mentioned segments:
Global Agricultural Micronutrients Market, By Type
Zinc
Boron
Iron
Molybdenum
Copper
Manganese
Global Agricultural Micronutrients market, By Crop Type
Cereals & Grains
Oilseeds & Pulses
Fruits & Vegetables
Global Agricultural Micronutrients Market, By End User
Soil
Foliar
Fertigation
Global Agricultural Micronutrients market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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