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Agricultural Micronutrients Market Trends

Report ID: GMI10712
Published Date: Aug 2024
Report Format: PDF

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Agricultural Micronutrients Market Trends

Market trends in the agricultural micronutrients sector include a growing emphasis on sustainable and organic farming practices, driving demand for natural micronutrient products. Precision agriculture is gaining traction, utilizing advanced technologies like soil testing and GPS mapping to optimize micronutrient application, enhancing crop yields and reducing waste. There is also a rising focus on research and development to create more efficient and effective micronutrient formulations. Additionally, increasing governmental support and subsidies for micronutrient usage, especially in emerging economies, are boosting market growth. The expansion of online sales channels is making these products more accessible to farmers worldwide.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The agricultural micronutrients industry was worth USD 4.6 billion in 2023 and will grow at 7.3% CAGR between 2024 and 2032, driven by increasing global food demand, adoption of precision agriculture and sustainable farming practices.

The agricultural micronutrients market from the cereals and grains application segment will reach USD 3.7 billion by 2032, primarily due to their critical role in global food security and high production volumes.

North America agricultural micronutrients industry size will record 7.1% CAGR through 2032, propelled by advanced agricultural infrastructure and high adoption rates of precision farming technologies.

BASF SE, Nouryon, Nufarm, Yara International ASA, Coromandel International Limited, Land O’lakes, Inc., Helena AgriEnterprises, LLC, The Mosaic Company, Haifa Negev Technologies Ltd., Nutrien Ltd., and Koch Agronomic Services, LLC, among others.