Global Agricultural Micronutrients Market Report By Form (Chelated, Non-Chelated), Crop Type (Fruits & Vegetables, Cereals & Grains, Oilseeds & Pulses, Other Crop Types), Nutrient Type (Zinc, Boron, Iron, Molybdenum, Manganese, Others), Application (Soil, Foliar, Fertigation), Countries and Company Analysis 2024-2032

Driving Forces for Agricultural Micronutrients

Growing trend in favor of sustainable agriculture — The growing trend of sustainable agriculture is driving the need for agricultural micronutrients. In addition, farmers and other agricultural stakeholders are adopting sustainable agriculture practices, which emphasize increasing crop yields, minimizing environmental effects, and making effective use of resources. Adopting farming micronutrients in various forms, including zinc, iron, copper, manganese, and boron, is necessary as part of this paradigm shift toward sustainability. Additionally, since more and more consumers favor sustainably produced food goods, farmers are urged to employ techniques that enhance soil health and lessen the need for chemical pesticides and fertilizers. Micronutrients are essential to this shift because they help plants absorb nutrients, improve soil structure, and reduce the overall environmental impact of farming activities.

Increased Awareness in Soil Health and Rising Home Gardening Demand to Support Market Expansion - Given that soil quality affects the rate at which crops are produced, farmers and other agricultural producers are focusing more on soil health. For instance, FAO (the Food and Agriculture Organization) estimates that 58% more food might be produced by ecological soil management. Demand for agricultural inputs like soil amendments and micronutrients has increased as improved yields from productive soils have increased soil productivity. The popularity of home gardening is rising globally in addition to soil health. Horticultural crops are the main focus of home gardeners since they are highly nutritious. The desire of home gardeners to cultivate their food has increased in response to the COVID-19 outbreak. Thus, the expanding popularity of home gardening and the growing emphasis on soil health would propel the expansion of the worldwide agricultural micronutrient market.

Growing progress in agriculture technologies- The market for agricultural micronutrients is expanding due to ongoing improvements in farming technology. In addition, farmers are using state-of-the-art technologies like drones, satellite imaging, and gear led by the global positioning system (GPS) to monitor and manage their crops precisely. The tailored and efficient administration of micronutrients to address particular nutrient shortages in soil and crops is made possible by this real-time, data-driven strategy. Additionally, it boosts crop yields and enhances product quality, which raises consumer demand for micronutrient-containing goods. Additionally, the creation of novel micronutrient formulations and delivery technologies is supported by agricultural technology research and development (R&D) efforts. These cutting-edge methods are intended to improve crop nutrient uptake, reduce waste, and increase nutrient use efficiency.

Asia Pacific Agricultural Micronutrient Market

Asia Pacific region exports a large amount of superior farm goods. For instance, the FAO reports that China's agriculture accounts for one-fourth of the world's grain production, feeding nearly one-fifth of the world's population. Furthermore, China's arable land makes up only 10% of all arable land worldwide. The quantity and volume of food produced affect the value of exports; micronutrients also have a significant role in the quality of plant development because their absence could cause trade transactions to break down.

Local farmers' awareness and product acceptance are projected to increase due to initiatives launched by governments and agrochemical firms in these nations. In accordance with this, various Indian government ministries have introduced a number of initiatives, including the regularization of contract farming, the funding of fortified seeds (seeds coated with zinc and boron), and the start of SHCs. Over time, these elements are likely to influence regional demand.

Agricultural Micronutrients Company Analysis

The top agricultural micronutrient companies are BASF SE, Compass Minerals, Coromandel International, Deepak fertilizers, Nouryon, Nufarm, Nutrien Ltd., The Mosaic Company, and Yara International.

Agricultural Micronutrients Company News

In May 2022, Coromandel International added five more items to its lineup to expand its line of crop protection solutions.

In February 2022, The Ethos Institute and The Mosaic Company announced their partnership to assist their supply chain partners address all the effects.

In October 2021, Grupa Azoty unveiled its 2021–2030 plan, with Green Azoty as the project's cornerstone. The new project's goals included decarbonization and lowering carbon emissions, carrying out research and development initiatives in line with the European Green Deal, and introducing innovative techniques in the ecologically friendly sector.

In April 2021, Compass Minerals disclosed that it had finalized a deal with Koch Agronomic Service (LLP), a division of Koch Industries, to sell micronutrient assets in North America for about USD 60.25 million.

In March 2021, Sound Agriculture and The Mosaic Company announced a collaborative agreement to introduce novel, cutting-edge, nutrient-efficient fertilizer products. Both businesses claimed that these new products would increase the yields of major crops.

Form – Market breakup in 2 viewpoints:

1. Chelated
2. Non-Chelated

Crop Types – Market breakup in 4 viewpoints:

1. Fruits & Vegetables
2. Cereals & Grains
3. Oilseeds & Pulses
4. Other Crop Types

Nutrient Type – Market breakup in 6 viewpoints:

1. Zinc
2. Boron
3. Iron
4. Molybdenum
5. Manganese
6. Others

Application – Market breakup in 3 viewpoints:

1. Soil
2. Foliar
3. Fertigation

Country – Market breakup of 25 Countries:

1. North America

1.1    United States

1.2    Canada

2. Europe

2.1    France

2.2    Germany

2.3    Italy

2.4    Spain

2.5    United Kingdom

2.6    Belgium

2.7    Netherland

2.8    Turkey

3. Asia Pacific

3.1    China

3.2    Japan

3.3    India

3.4    South Korea

3.5    Thailand

3.6    Malaysia

3.7    Indonesia

3.8    Australia

3.9    New Zealand

4. Latin America

4.1    Brazil

4.2    Mexico

4.3    Argentina

5. Middle East & Africa

5.1    Saudi Arabia

5.2    UAE

5.3   South Africa

All the key players have been covered from 4 Viewpoints:

• Business Overview
• Recent Development
• Product Portfolio
• Revenue Analysis

Key Players Analysis:

1. BASF SE
2. Compass Minerals
3. Coromandel International
4. Deepak fertilizers
5. Nouryon
6. Nufarm
7. Nutrien Ltd.
8. The Mosaic Company
9. Yara International

Report Details: