The global agricultural micronutrients market is estimated to be valued at USD 3.6 billion in 2020 and is projected to reach a value of USD 5.4 billion by 2025, growing at a CAGR of 8.7% during the forecast period.
Factors such as the rise in micronutrient deficiencies in the soil and growing awareness about food security are projected to drive the growth of the agricultural micronutrients market.Download PDF BrochureAsia Pacific is projected to grow at the highest CAGR during the forecast period.In terms of value, The market for agricultural micronutrients in the Asia Pacific region is projected to grow at the highest CAGR from 2019 to 2025. Zinc is the most prevalent micronutrient deficiency in Asia as the crops are grown on highly weathered and leached soils such as tropical red soils.
Large areas are affected by micronutrient deficiencies in China and is estimated that more than one-third of the country’s farmland area has soil Zn, Mo or B deficiencies. Problems with low soil Zn, B and Fe are very extensive and have become more widespread in recent times in India.Leading companies operating in the agricultural micronutrients market are BASF SE (Germany), Nutrien, Ltd.(Canada), Yara International ASA (Norway), AkzoNobel (Netherlands), The Mosaic Company (US), Balchem (US), Helena Chemical Company (US), Land O’ Lakes (US), Compass Minerals International (US), Sapec S.A. (Belgium), Valagro (Italy), Stoller Enterprises INC (US), Zuari Agrochemicals (India), Haifa Group (Israel), ATP Nutrition (Canada), Baicor LC (US), Coromandel International Ltd (India), Corteva INC (US), Nufarm (Australia), and BMS Micro-Nutrients NV (Belgium).
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