According to a new market report by Lucintel, the future of the agricultural micronutrient market looks promising with opportunities in the cereals, oilseeds & pulses, soybeans, and fruits & vegetables productions. The agricultural micronutrient market is expected to grow with a CAGR of 9% from 2019 to 2024. The major drivers for this market are increasing need for effective fertilizers due to poor soil quality and growing demand for quality and uniform yield.’
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In this market, zinc, copper, boron, iron, manganese, and molybdenum based micronutrient are used in various crops type. On the basis of comprehensive research, zinc will remain the largest segment over the forecast period because zinc fertilizers improve crop yield and provide economic benefits to the farmers owing to their low prices.
Within this market, micronutrients are used in soil, foliar, and fertigation applications. Lucintel predicts that foliar application is expected to witness highest growth during forecast period.
Asia Pacific will remain the largest region by value and it is also expected to experience the highest growth over the forecast period due to growing deficiency of zinc in soil and the productivity of agricultural crop is decreasing.
BASF, Dow Chemical, AkzoNobel, Agrium, Yara International, The Mosaic Company, Helena Chemical Company, and Nufarm are among the major manufacturers of Agricultural micronutrient.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the agricultural micronutrient market by mode of application, by type, source, crop, form, and region. Lucintel has prepared a comprehensive research report titled "Agricultural Micronutrient Market 2019-2024: Trends, Forecast, and Opportunity Analysis". This Lucintel report serves as a catalyst for growth strategies as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includestrends and forecast for the agricultural micronutrient market by type, form, crop type, mode of application, and region as follows:
By Type [$M shipment analysis for 2013 – 2024]
Zinc
Copper
Boron
Iron
Manganese
Molybdenum
Others (nickel and chloride)
By Form [$M shipment analysis for 2013 – 2024]
Chelated
Ethylenediaminetetraacetic acid (EDTA)
Ethylenediamine Di-2-hydroxyphenyl acetate (EDDHA)
Diethylene triamine pentaacetic acid (DTPA)
Non-chelated
By Crop Type [$M shipment analysis for 2013 – 2024]
Cereals
Oilseeds & pulses
Soybeans
Dry Peas
Beans
Others (canola and sunflower)
Fruits & Vegetables
Brassica
Cucurbit
Leafy
Root-bulb
Solanaceae
Others (floriculture crops, permanent crops, pastures, grasslands, and other cultivations)
By Mode of Application [$M shipment analysis for 2013 – 2024]
By Region [$M shipment analysis for 2013 – 2024]:
North America
Europe
Germany
France
U.K.
Italy
Spain
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Indonesia
Rest of Asia Pacific
ROW
Brazil
Argentina
Saudi Arabia
Others
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/agricultural-micronutrient-market.aspx or helpdesk@lucintel.com.
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