Agricultural Micronutrients Market Share
The Global Agricultural Micronutrients Market, valued at USD 9,706 million in 2022, is forecasted to grow significantly, reaching approximately USD 19,197 million by 2031, with an anticipated CAGR of 9% from 2024 to 2031.
The Agricultural Micronutrients market's expansion is largely attributed to the rising demand for high-quality crops and the pursuit of sustainable farming practices. As the global population grows and food demand increases, the use of agricultural micronutrients has become more prominent to support efficient and sustainable agricultural methods.
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Agricultural Micronutrients Market Dynamics
The global agricultural micronutrients market is driven by the expanding global population and the rising demand for food. As the population grows, so does the need for enhanced crop yields and quality to meet this demand. Farmers are increasingly turning to agricultural micronutrients to boost their crop production. For example,
the Population Reference Bureau (PRB) projects that the world population will grow by 75 million annually, or about 1.1% per year, leading to a 33% increase from approximately 7.4 billion in 2017 to 9.9 billion by 2050. Additionally, as arable land becomes scarcer, there is a pressing need for advanced technologies and strategies to improve crop yield and quality. This growing demand for food, coupled with a focus on research and development by leading companies, is fueling the market's expansion.
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Agricultural Micronutrients Market Segmentations
By Type :Boron, Copper, Iron, Manganese, Molybdenum, Zinc, Others
By Application :Fertigation, Foliar, Soil, Others
By Form :Chelated, Non-Chelated
By Crop Type :Cereals, Fruits & Vegetables, Oilseeds & Pulses, Others
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Key Players are:
Nutrien Ltd.
Nouryon
BASF SE
Coromandel International Limited
Hafia Group
Trade Corporation International
The Mosaic Company
Valagro SpA
Yara International ASA
Stoller USA, Inc.
Related reports:
India Agricultural Micronutrients Market
https://www.datamintelligence.com/research-report/india-agricultural-micronutrients-market
Agricultural Microbial Market
https://www.datamintelligence.com/research-report/agricultural-microbial-market
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