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Agricultural Secondary Nutrients Market Trends

Report ID: GMI10487
Published Date: Jul 2024
Report Format: PDF

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Agricultural Secondary Nutrients Market Trends

The market is witnessing several notable trends that are shaping its trajectory. There's a growing shift towards precision agriculture, where farmers are adopting technologies like GPS-guided application systems and soil sensors to optimize nutrient use efficiency. This is complemented by an increasing focus on balanced crop nutrition, recognizing the crucial role of secondary nutrients in enhancing yields and crop quality. The market is also seeing a rise in demand for organic and bio-based nutrient sources, driven by the expanding organic farming sector and environmental concerns.

Manufacturers are responding by developing innovative formulations that combine multiple nutrients and improve nutrient availability to plants. Additionally, there's a trend towards customized nutrient solutions tailored to specific crop needs and local soil conditions. The integration of digital technologies in agriculture is facilitating better nutrient management decisions, while climate-smart agriculture practices are emphasizing the role of secondary nutrients in building crop resilience. These trends collectively point towards a more sophisticated, efficient, and sustainable approach to agricultural nutrient management.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Global market size for agricultural secondary nutrients achieved USD 39.1 billion in 2023 and will record 4.2% CAGR from 2024 to 2032, propelled by the swelling global population and its heightened food demands, necessitating a boost in agricultural productivity.

The calcium nutrients segment was worth USD 16.2 billion in 2023 and will exhibit a 4.4% CAGR through 2032 as calcium is pivotal in plant development, bolstering cell wall structure, root growth, and overall plant vigor.

Asia Pacific market reached USD 14.6 billion in 2023 and is poised for a CAGR of 4.4% from 2024 to 2032, backed by the escalating demand for agricultural productivity, technological strides in fertilizer production, and government initiatives that advocate for sustainable farming.

EuroChem Group, Haifa Group, ICL Group, K+S Aktiengesellschaft, Koch Industries, Inc., Kugler Company, Nufarm Limited, Nutrien Ltd., Sulphur Mills Limited, and The Mosaic Company among others.