The global micronutrients market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). The micronutrients market size is expected to record significant growth due to the wide range of use of the material in micronutrients performed in agriculture, fertigation pluses, and other chemical and material facilities. In addition, increased adoption of technology by government agencies and the introduction of supportive policies to assist farmers will increase product demand in the micronutrients market. For instance, in November 2020 the Indian government has announced a specialization program to track production and monitor key agricultural data points during the closure period.
Similarly, the US government has announced that it will provide $14 billion as additional assistance to agricultural producers which increased the production of the micronutrients. Moreover, the use of the micronutrientsmarket in foliar mode is expected to grow rapidly during the forecast period due to increased awareness about the benefits of foliar inputs and the growing introduction of foliar micronutrient products. For instance, in June 2019, Yara North America, a subsidiary of Yara International, launched YaraVita OptimumTurf, a line of turf leafy vegetables and ornamental crops. YaraVita PRISTINE GREEN and YaraVita Guard are micronutrient products offered under the YaraVita OptimumTurf line, which enhances the global micronutrients market.
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Market Coverage
The market number available for – 2021-2028
Base year- 2021
Forecast period- 2022-2028
Segment Covered-
By Type
By Application Mode
By Crop Type
Regions Covered-
North America
Europe
Asia-Pacific
Rest of the World
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Top major key players:
BASF SE, The Mosaic Co., Nutrien Ltd., Nouryon Inc., Compass Minerals Inc., and Nufarm Ltd.,among others.
Key questions addressed by the report
What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
How has COVID-19 impacted the market?
Deviation from the pre-COVID-19 forecast
Most affected region and segment
Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?
Global Micronutrients Market Report by Segment
By Type
Zinc
Boron
Iron
Molybdenum
Manganese
Others
By Application Mode
Soil
Foliar
Fertigation
By Crop Type
Cereals
Oilseeds & Pulses
Fruits & Vegetables
Others
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