MARKET OVERVIEW
Micronutrients such as copper, iron, zinc, and boron are essential for plants. Micronutrient deficiency in plants can induce a number of ailments, lowering plant quality and quantity. Global demand for Genetically Modified (GM) seeds is likely to effect the global market for agriculture micronutrients.
MARKET SCOPE
The "Global Agricultural Micronutrients Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the agricultural micronutrients market with detailed market segmentation by type, crop type and application. The report provides key statistics on the market status of the leading agricultural micronutrients market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the global agricultural micronutrients market is segmented into zinc, iron, boron, manganese, molybdenum, others.
- On the basis of crop type the market is segmented into cereals & grains, oilseeds & pulses, fruits & vegetables, others.
- Based on application, the global agricultural micronutrients market is segmented into soil, fertigation, foliar, others.
MARKET DYNAMICS
Drivers:
- The primary drivers driving the growth of the agriculture micronutrients market include developing soil micronutrient deficit, consumer preference for nutrient-rich foods, growing population, and rising food insecurity..
- Furthermore, contract farming is expanding, which means that producers in the agriculture micronutrients market have a lot of chances.
- Also, rising government measures to increase zinc concentrate in the soil in order to improve quantitative and qualitative agricultural yields are supporting the market's growth.
Restraints:
- The global Agricultural Micronutrients Market continues to be threatened by COVID-19's lockdowns, logistical interruptions, poorer output, and accompanying economic effects.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The agricultural micronutrients market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the agricultural micronutrients market in these regions.
IMPACT OF COVID-19ON AGRICULTURAL MICRONUTRIENTS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the agricultural micronutrients market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from agricultural micronutrients market are anticipated to lucrative growth opportunities in the future with the rising demand for agricultural micronutrients in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the agricultural micronutrients market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- BASF SE
- Coromandel International Limited
- Nutrien Ltd.
- The Mosaic Company
- Haifa Group
- Yara International ASA
- Helena Agri-Enterprises LLC
- Valagro S.p.A
- Sigma AgriScience, LLC
- Aries Agro Limited
- Nufarm Limited
- AgroLiquid
- Agrium
- Akzonobel
- Dow Chemical
- ADAMA Agricultural Solutions Ltd.
- Agrium Inc.
- Akzo Nobel N.V.
- Auriga Industries A/S
- Bayer Crop.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
