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 [email protected]