The global Micronutrients Market is expected to reach USD 6.87 Billion by 2028 at a CAGR of 8.4%, according to a new report by Reports and Data. The augmenting demand from the agricultural sector to improve crop yield, growing incidences of plant diseases, and the increasing awareness about the critical advantages of micronutrients are the primary factors contributing to the market growth. The market is predominantly driven by the escalating need for efficient plant nutrition products to overcome the deficiency of micronutrients in plants.
Additionally, the diminishing proportion of the arable land in major economies and the growing levels of contamination in the soil are projected to add traction to the market growth. Micronutrients play a crucial role in the growth and metabolism of plants, and subsequently, humans and animals. They are projected to have an impact on the immune system and reduce the risks of cancer and other severe illnesses in humans. This has boosted the shift of consumers towards a nutrient-dense diet, which is, in turn, projected to drive the market growth in the forecast timeframe.
The increasing need for high crop yield, more use of synthetic fertilizers, and the reduction in the content of micronutrients available for the plants are estimated to bolster the growth of the market in the timeframe. Additionally, the amalgamation of fertilizers and micronutrients has led to a reduction in costs and allowed the uniform distribution of micronutrients. This is further estimated to bolster the market growth in the timeline.
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For the purpose of this report, Reports and Data has segmented the global Micronutrients Market based on Crop Type, Type, and Region:
Type Outlook (Revenue, USD Billion; 2018-2028)
Form Outlook (Revenue, USD Billion; 2018-2028)
Application Outlook (Revenue, USD Billion; 2018-2028)
End-user Outlook (Revenue, USD Billion; 2018-2028)
Regional Outlook (Revenue, USD Billion; 2018-2028)
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Table of Content:
Table Of Contents 1 Introduction 1.1 Objectives Of The Study 1.2 Market Definition 1.3 Study Scope 1.3.1 Regional Segmentation 1.4 Periodization Considered 1.5 Currency Considered 1.6 Unit Considered 1.7 Stakeholders 2 Research Methodology 2.1 Research Data 2.1.1 Secondary Data 2.1.1.1 Key Data From Secondary Sources 2.1.2 Primary Data 2.1.2.1 Key Data From Primary Sources 2.1.2.2 Breakdown Of Primaries 2.2 Market Size Estimation 2.2.1 Bottom-Up Approach 2.2.2 Top-Down Approach 2.3 Market Breakdown & Data Triangulation 2.4 Research Assumptions & Limitations 2.4.1 Assumptions 2.4.2 Limitations Of The Study 3 Executive Summary 4 Premium Insights 4.1 Opportunities In The Agricultural Micronutrients Market 4.2 Agricultural Micronutrients Market, By Form 4.3 Asia Pacific: Agricultural Micronutrients Market, By Form & Key Country 4.4 Agricultural Micronutrients Market, By Crop Type & Region 4.5 Key Markets, By Key Country 5 Market Overview 5.1 Introduction 5.2 Macroeconomic Indicators 5.2.1 Decreasing Arable Land Around The Globe 5.2.2 Growing Production Of High-Value Crops 5.2.3 Growing Importance Of Micronutrients In Human Consumption 5.3 Market Dynamics 5.3.1 Drivers 5.3.1.1 Increasing Micronutrient Deficiency In Soil 5.3.1.2 Rising Focus On Crop Production And Quality 5.3.1.3 Supporting Policies From The Government 5.3.2 Restraints 5.3.2.1 Booming Organic Fertilizer Industry 5.3.2.2 Bio-Accumulation Of Non-Biodegradable Chelates 5.3.3 Opportunities 5.3.3.1 Development Of Biodegradable Chelates 5.3.4 Challenges 5.3.4.1 Poor Awareness Among The Developing Regions Regarding The Benefits Of Micronutrients 5.3.4.2 Need For Sustainable Sourcing Of Raw Materials 5.4 Regulatory Framework 5.4.1 North America 5.4.1.1 Us 5.4.2 Asia Pacific 5.4.2.1 Australia 5.4.2.2 China 5.4.3 South Africa 6 Agricultural Micronutrients Market, By Type 6.1 Introduction 6.2 Zinc 6.2.1 Zinc-Based Fertilizer Demand Observed To Be Stable In The Market As It Is A Scarce Nutrient Across The Globe 6.3 Boron 6.3.1 Complex Soil Conditions And Plant Physiologies Make It Difficult To Manage The Supplementation Of Boron 6.4 Iron 6.4.1 The Unabsorbable Existent Form Of Iron Fuels The Demand In The Agricultural Sector 6.5 Molybdenum 6.5.1 Demand For Molybdenum Higher Among The Farmers Undertaking Leguminous Crops 6.6 Copper 6.6.1 Copper Has Major Role In Carbohydrate And Nitrogen Metabolism 6.7 Manganese 6.7.1 Irregular Deposits Of Manganese Across Regions Fuel Demand In Regions Experiencing A Deficit 6.8 Other Types 7 Agricultural Micronutrients Market, By Crop Type 7.1 Connected Market: Npk (N+P2o5+K2o) Fertilizers 7.2 Introduction 7.3 Cereals & Grains 7.3.1 Micronutrient Deficiencies In Major Staple Crops To Drive The Agricultural Micronutrients Market 7.3.1.1 Corn 7.3.1.2 Wheat 7.3.1.3 Rice 7.3.1.4 Others 7.4 Fruits & Vegetables 7.4.1 Increasing Concern Toward Balanced Nutrition To Drive The Agricultural Micronutrients Market 7.5 Oilseeds & Pulses 7.5.1 Increase In Demand From The Feed Industry For Oilseeds To Promote The Application Of Micronutrients 7.5.1.1 Soybean 7.5.1.2 Canola 7.5.1.3 Others 7.6 Other Crop Types 8 Agricultural Micronutrients Market, By Form 8.1 Introduction 8.2 Chelated Micronutrients 8.2.1 Increased Bioavailability Of Micronutrients Due To The Adoption Of Chelated Micronutrients 8.2.1.1 Ethylene Diamine-Tetra-Acetic Acid (Edta) 8.2.1.2 Ethlyenediamine Di-2-Hydroxyphenyl Acetate (Eddha) 8.2.1.3 Diethylene-Triamine Penta-Acetic Acid (Dtpa) 8.2.1.4 Iminodisuccinic Acid (Idha) 8.2.1.5 Other Chelated Micronutrients 8.3 Non-Chelated Micronutrients 8.3.1 Cheaper Rates Of Non-Chelated Micronutrients To Drive The Agricultural Micronutrients Market 9 Agricultural Micronutrients Market, By Mode Of Application 9.1 Introduction 9.2 Soil 9.2.1 Reduced Cost And Uniform Distribution Of Micronutrients To Promote The Use Of Soil Mode Of Application 9.3 Foliar 9.3.1 Low Rates Of Application And Immediate Response To Applied Nutrients To Drive The Foliar Segment 9.4 Fertigation 9.4.1 Improved Nutrient Use Efficiency To Drive The Fertigation Segment 9.5 Other Modes Of Application 10 Agricultural Micronutrients Market, By Region 10.1 Introduction 10.2 North America 10.2.1 Us 10.2.1.1 Sustainable Agriculture Production Systems And Stringent Environmental Regulations To Drive The Market For Agricultural Micronutrients 10.2.2 Canada 10.2.2.1 Boron And Zinc Deficiencies In The Soil To Promote The Application Of Agricultural Micronutrients 10.2.3 Mexico 10.2.3.1 Increasing Government Focus Toward Sustainable Agriculture To Drive The Demand For Agricultural Micronutrients 10.3 Europe 10.3.1 France 10.3.1.1 Increase In Organic Farming Practices To Promote The Use Of Agricultural Micronutrients 10.3.2 Germany 10.3.2.1 Rise In Demand For Agricultural Micronutrients Due To The Increase In Boron Deficiencies In The Soil 10.3.3 Poland 10.3.3.1 Prevalence Of Unfertile Acid Soils And Low Content Of Available Nutrients To Drive The Market For Agricultural Micronutrients
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11 Competitive Landscape 11.1 Overview 11.2 Company Ranking 11.3 Competitive Leadership Mapping 11.3.1 Dynamic Differentiators 11.3.2 Innovators 11.3.3 Visionary Leaders 11.3.4 Emerging Companies 11.4 Competitive Leadership Mapping (For Smes/Start-Ups) 11.4.1 Progressive Companies 11.4.2 Starting Blocks 11.4.3 Responsive Companies 11.4.4 Dynamic Companies 11.5 Competitive Scenario 11.5.1 New Product Launches 11.5.2 Expansions 11.5.3 Mergers & Acquisitions 11.5.4 Agreements 12 Company Profiles 12.1 Basf Se 12.2 Akzonobel (Nouryon) 12.3 Nutrien Ltd. 12.4 Nufarm 12.5 Yara International Asa 12.6 Coromandel International Ltd
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