Crop Micronutrient Market To Reach US$ 12.3 Billion By 2028; The Surge in the ongoing product launches in micro fertilizers have driven the market.
“Crop Micronutrient Market, Size, Share, Opportunities Analysis, By Crop Type (Cereals & grains, Fruits & vegetables, Oilseeds, Pulses), By Product (Zinc, Boron, Iron, Others), By Form (Chelated, Non-Chelated), and By Region regional forecast, 2020-2028.”
The global Crop Micronutrient market is anticipated to expand at a CAGR of 8.5% between 2020 and 2027 and earn around US$ billion by 2028. One of the major drivers of the global. The rise in the incidences of crop micronutrient deficiency in the soil, and the increase in the focus by the farmers for improving crop production and quality have boosted the market.
The developments in new products, and supporting policies from the government, have positively impacted the market growth
Key trends of global Crop Micronutrient market
- The Asia Pacific has held the majority of the share in the regional market owing to the growth in agricultural practices and the rise in the population growth in the region.
- North America although have held a remarkable share owing to due to the rise in the consumption rate of agricultural produce in the region.
- The rise in the incidences of crop contamination, the surge in the research activities in micronutrient fertilizers have significantly driven the market.
- Among the Crop type, the Fruits & vegetable segment is held the highest share in the market owing to the rise in awareness about the benefits obtained by fruits and vegetables.
- Based on the Type, the Zinc segment has held lucrative growth, as it is regarded as the most essential nutrient required for the soil. For improving the yield of the crops.
- In terms of form, the chelated segment has obtained the most remarkable growth, owing to the rise in adoption for chelated micronutrients.
- The vendor landscape of the global Crop Micronutrient market is expected to stay moderately fragmented as a number of players are competing against each other. Crop Micronutrient companies focus on launching products, collaborations merger and acquisition deals, and as their key strategies. Nutrien Ltd, AkzoNobel, BASF SE, Yara International ASA, Cheminova Asia, Aries agro Ltd, Tradecorp International, Coromandel International Ltd., Haifa Chemicals Ltd, and The Dow Chemical are key players of the global Crop Micronutrient market.
Table of Segmentation:
|| Value (USD Billion)
||By Crop type
· Cereals & grains
· Fruits & vegetables
· North America (U.S., Canada, and Mexico)
· Europe (U.K., France, Italy, Spain, Germany, Russia, and the Rest of Europe)
· Asia-Pacific (China, India, Japan, Australia, and the Rest of Asia- Pacific)
· South America, Middle East & Africa (Brazil, South Africa, UAE, and the Rest of the region)