Micronutrients Market Size Worth $ 6.87 Billion By 2028; The increasing efforts to boost the concentration of zinc in the soil to enahance the production of crops are projected to bolster the segment growth | Reports And Data

Increasing gravity of food security, escalating global populace, decreasing arable acres, and the increasing incidences of unfavorable climatic conditions are the preeminent factors contributing to the market’s development.

New York, New York, UNITED STATES

New York, March 11, 2021 (GLOBE NEWSWIRE) -- Market Size – USD 3.59 Billion in 2020, Market Growth – CAGR of 8.4%, Market Trends – A paradigm shift in consumer preference towards nutrient-dense foods and escalating food security concerns

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. Soaring population growth, rapid adoption of precision agriculture, and increasing micronutrient deficiency in the soil are the key factors influencing the market expansion. To cater to the exponentially increasing demand from the prominent global population, the agricultural producers and farmers are shifting towards the use of efficient and productive crop nutrition products. This is projected to significantly propel the market development over the estimated period.

Request free sample of this research report at: https://www.reportsanddata.com/sample-enquiry-form/3869

The expanding vegan populace across the world and the surging apprehension about the benefits of micronutrients for plants and human health are adding traction to the market growth. The growing interest in high-quality food and increasing awareness about micronutrients amongst the farmers are other vital factors bolstering the market growth. The augmenting concerns regarding the safety of food and the rising need to incorporate micronutrients in cropping systems to achieve higher growth of crops are projected to drive the development of the global market.

The impact of the COVID-19 pandemic on the micronutrient market has restrained the market growth to an extent. The restrictions and lockdowns on the industries disrupted the supply chains and the import/export of micronutrients from key producers such as China. The shutdown of numerous fertilizer plants worldwide is also projected to negatively impact the agricultural sector and micronutrient market in the timeframe.

Micronutrients Market Size, Share & Analysis, By Type (Zinc, Boron, Manganese, Molybdenum, And Others), By Application (Foliar, Soil, Hydroponics), By Form (Chelated And Non-Chelated), By End-User (Cereals, Fruits & Vegetables, Floriculture, Pulses And Oilseeds, Others), By Region, Forecast To 2028; To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/micronutrients-market

Key Highlights from the Report:

  • The zinc segment is predicted to dominate the market growth in the timeframe due to the surging awareness of zinc’s importance for plant growth and the escalating deficiency of the mineral in soil worldwide. The increasing efforts to boost the concentration of zinc in the soil to enahance the production of crops are projected to bolster the segment growth.
  • The soil application segment is foreseen to record lucrative growth in the period due to the easy application, low-cost, and high preference by the farmers and producers. The excellent end-results of micronutrients in the soil and the slow adoption of novel agricultural techniques are projected to bolster the segment’s progress, thereby driving the market growth.
  • The chelated form is predicted to occupy the most considerable portion of the market share in the period ascribed to its enhanced stability, escalating demand to bolster micronutrients’ efficacy, and increasing R&D to develop novel micronutrients.
  • The cereals segment is estimated to add significantly to the revenue share in the market accredited to the rising inclination towards healthy foods, increasing cultivation of cereals and grains, and the increasing demand for cereal-based food items across the globe.
  • The Asia Pacific is predicted to register significant growth in the forecast timeframe ascribed to the increasing arable acres, escalating population, increasing incorporation and acceptance of micronutrients by the farmers, rising export and import of agricultural micronutrients, and the increasing micronutrient inadequacy in the soil. APAC region is predicted to proliferate at a CAGR of 9.4% throughout the estimated timeframe.
  • Prominent competitors in the market include Valagro, Agrium Inc., BASF SE, Tradecorp International, Aries Agro Ltd., Coromandel International Ltd., Yara International, Gujarat State Fertilizers & Chemicals, Cheminova, AkzoNobel, and The Mosaic Company.

Order Now: https://www.reportsanddata.com/checkout-form/3869

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)

  • Zinc
  • Molybdenum
  • Boron
  • Manganese
  • Others

Form Outlook (Revenue, USD Billion; 2018-2028)

  • Chelated
  • Non-chelated

Application Outlook (Revenue, USD Billion; 2018-2028)

  • Soil
  • Hydroponics
  • Foliar

End-user Outlook (Revenue, USD Billion; 2018-2028)

  • Cereals
  • Fruits & Vegetables
  • Pulses & Oilseeds
  • Others

Regional Outlook (Revenue, USD Billion; 2018-2028)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • Italy
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • U.A.E.
    • South Africa
    • Rest of MEA

Browse similar research reports:

NPK Fertilizers Market Size, Share & Analysis, By Nutrient Type (Phosphorus, Nitrogen, Potassium, Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, And Others), By Form (Liquid, Granular), Mode Of Application (Fertigation, Foliar And Others), Form (Dry And Liquid) And Region, Forecast To 2028

Sulfur Fertilizers Market Size, Share & Analysis, By Type (Sulfates, Elemental Sulfur, Liquid Sulfur Fertilizers), Crop Type (Oilseeds & Pulses, Cereals & Grains, Fruits & Vegetables, Others), Mode Of Application (Soil, Foliar And Fertigation), Form (Dry, Liquid), Cultivation Type (Open, Controlled Environment Agriculture), And Region, Forecast To 2028

Agricultural Microbials Market Size, Share & Analysis, By Type (Bacteria, Fungi, Virus, Protozoa), Function (Soil Amendment and Crop Protection), Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables), Mode of Application (Soil Treatment, Seed Treatment, Foliar) Formulation (Dry, Liquid), and Region, Forecast To 2028

Phosphoric Fertilizers Market Size, Share & Analysis, By Crop Type (Cereals, Pulses & Oilseeds, Fruits & Vegetables, Others), By Type (Diammonium Phosphate, Monoammonium Phosphate, Single Superphosphate, Triple Superphosphate, Others), By Region, Forecast To 2028

About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

Contact Us:

John W

Head of Business Development

Reports And Data | Web: www.reportsanddata.com

Direct Line: +1-212-710-1370

E-mail: sales@reportsanddata.com

LinkedIn | Twitter | Blogs | Facebook

Read Full Press Release@ https://www.reportsanddata.com/press-release/global-micronutrients-market