According to a market report by Lucintel, the future of the global agricultural micronutrients market looks promising with opportunities in the soil, foliar, and fertigation markets. The global agricultural micronutrients market is expected to reach an estimated $7.6 billion by 2030 with a CAGR of 7.1% from 2024 to 2030. The major drivers for this market are expanding knowledge of plant deficits in micronutrients, rising agricultural technological developments, and growing understanding of the advantages of micronutrients for promoting the synthesis of chlorophyll.
In this market, zinc,
boron, iron, molybdenum, and manganese are the major segments of agricultural
micronutrients market by type.
Lucintel forecast that
zinc is expected to witness largest segment over the forecast period because of
growing understanding of the global zinc shortage in soils and its many roles
in plant development.
Within this market, soil
will remain the largest segment because of the current farming system's
widespread use of old agricultural practices, its extremely restricted resource
availability, and its low adoption of new fertilizer application techniques.
APAC is expected to
witness highest growth over the forecast period because the public demand for
crops farmed responsibly is rising, and there is a growing emphasis on using
environmentally friendly farming methods to cut down on waste and carbon
emissions.
Nutrien, Israel
Chemicals, Coromandel International, Yara, Indian Farmers Fertiliser, Koch
Agronomic, Marubeni, and Nouryon Chemicals are the major suppliers in the
agricultural micronutrients.
This unique 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 write us at helpdesk@lucintel.com.
About Lucintel
At Lucintel, we offer solutions for
you growth through game changer ideas and robust market &
unmet needs analysis. We are based in
Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20
years. We are quoted in several publications like the Wall Street Journal,
ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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