The global agricultural micronutrients market is growing at a significant CAGR of more than 8.4% during the forecast period (2019-2025). Crop improvement is being considered as a flourishing area in the agriculture industry due to the shift towards a scientific approach in the agriculture technologies, rising concerns of poor crop yield and irregular reaping process of flowers and vegetables. Agricultural micronutrients play a role in improving the crop yield and enhancing the nutrients content of the crops. The substantial growth in funding the US and other countries is propelling the market of the global agricultural micronutrients market during the forecast period. Additionally, the market is being supported by products and research projects developed by companies operating in the agriculture industry. Companies such as BASF SE are procuring license agreements to develop micronutrients for agriculture products.
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In addition, some other pivotal factors that drive the agricultural micronutrients market growth include increasing deficiency of micronutrients in the crops, supportive government policies, and rising focus for escalating crop production and quality. With the development of biodegradable chelates, the market for agricultural micronutrients is further expected to grow in the near future. However, the lack of awareness regarding the advantages of micronutrients for crops and booming organic fertilizer industry are some factors that are restarting the growth of the market across the globe.
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Global Agricultural Micronutrients Market Segmentation
By Micronutrients
Zinc
Boron
Iron
Manganese
Others (Copper and Molybdenum)
By Crop Type
Pulses and Oilseeds
Fruits and Vegetables
Cereals
Others (Floriculture)
By Application
Seed Treatment
Soil
Fertigation
Foliar
Others (Hydroponics)
Regional Analysis
North America
United States
Canada
Europe
UK
Germany
Italy
Spain
France
Rest of Europe
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
Rest of the World
Company Profiles
AgroLiquid
AgXplore International, LLC
Akzo Nobel N.V.
Aries Agro Ltd.
ATP Nutrition Ltd.
Balchem Corp.
BASF SE
BMS Micro-Nutrients NV
Compass Minerals International, Inc.
COMPO EXPERT GmbH
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