Published on : Dec 09, 2019
ResearchMoz.us has announced the addition of a report, titled “Global Agriculture Micronutrients Market Insights, Forecast to 2025”. The report on the global agriculture micronutrients market offers an elaborate assessment of key growth trends and drivers, recent developments in the market, the competitive ecosystem, and opportunity and challenges analysis. Segments in the report are created by product type and application. The forecast period is 2018-2025 and the base year is 2017.
The growth is owing to need for better yield and protection from diseases. Difference in soil worldwide and how it has been used historically has led to demand for certain micro nutrients such as copper, zinc, boron, manganese, iron, and molybdenum. For instance, sometime growing the same crop in a particular region, depletes the soil of one or the other micronutrients.
Besides, the growing demand for fertilizers owing to need for agriculturists to improve output and quality is also helping the players in micro-nutrients market as they form an essential component of fertilizers.
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Owing to these factors it has been predicted that the market would see an impressive CAGR (Compound Annual Growth Rate) over the forecast period of 2018 to 2025. This will create lucrative opportunities for market players that they will want to make the most of. Besides, the growth will pull the market value up significantly.
The global agriculture micronutrients market is fragmented and is set to see an increase in competition over the coming years. Some of the prominent players in the market include:
- Dow Chemical
- The Mosaic Company
- Land O'Lakes
- Helena Chemical Company
To keep an edge over competitors, players direct their efforts at product development through research and investment into technology and innovation. The better the knowledge about soil and climate conditions, the crops grown in a certain area, agricultural practices and the like, the better the product that can be developed and rolled out and the better it is for a brand’s popularity. It ensures that these players have a solid grasp on global agriculture micronutrients market share. Besides, there are mergers and acquisitions that players resort to and also strategic collaborations and partnerships to combine know-hows and explore synergies that might benefit all involved, producing results that are more than just a summation of individual strengths, helping players have an edge over competitors.
Region-wise, it is worth mentioning here that North America will hold a large chunk of the market share – production and consumption. The growth will owe to agriculturists already well aware of soil health parameters. Most are also already aware of how to deal with deficiencies, diseases and measures related to better yield. Besides, there is a high adoption level of technology-based products. So, the already set tone of best agriculture practices will help the market in the region maintain a steady grasp. Europe will be another large market. Here again, farmers are well-read and well-aware of agricultural issues and how to fix them. In both the regions there is a healthy number of prominent players from the market playfield.
Another region that will show tremendous growth is Asia Pacific (APAC). The region is witnessing increasing levels of awareness and governments being involved in bettering outcomes as population is increasing and the growing need for food is propelling initiatives. Besides, in the past, certain practices that have been detrimental for soils are not producing unfavorable results and that needs fixing too. Also, in countries such as India, here certain regions have to produce surplus for other regions that cannot produce anything at all, extreme measures are required but climate change is impeding growth. Here again, micro-nutrients will see demand rising in the global agriculture micronutrients market.