Importance Agricultural Micronutrients is Growing in Crop Nutrition Due to the Increased Demand From Higher-Yielding Crops

Posted on 2021-03-12 by MarketsandMarkets in Agriculture // 0 Comments

The global agricultural micronutrients market is estimated to be valued at USD 3.6 billion in 2020 and is projected to reach USD 5.4 billion by 2025, recording a CAGR of 8.7%.

Micronutrients are of growing importance in crop nutrition because of the increased demand from higher-yielding crops and intensive cropping. With the growing population around the globe and the decrease in arable land, the need for micronutrients for improving crop yield becomes essential. . The key drivers and restraints in agricultural micronutrients market are enlisted below.

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The Zinc segment is projected to be the largest segment in the agricultural micronutrients market during the forecast period.

Zinc is required in plants for a wide range of functions such as protein synthesis, gene regulation, structure and integrity of biomembranes, protection of cells from oxidative damage, and others. Sandy, highly leached acid soil and soils having poor organic content, show lower zinc contents. The formations of essential enzymes in the plants, such as carbohydrate, protein, and chlorophyll is hampered in the zinc-deficient soils. Zinc deficiency is the most common problem witnessed around the globe, particularly for cereals and grains, hence the demand for zinc as a micronutrient is high in the agricultural micronutrients market.

The foliar segment is estimated to account for the largest share in 2019.

Foliar mode of application is widely used to apply micronutrients, particularly iron and manganese, for many crops. It is mostly used for many fruit, vegetable and flower crops. Micronutrients can be foliar applied as liquid or suspensions to crops. Soluble inorganic salts of micronutrients are useful in foliar spray and are lower in cost as compared to synthetic chelates. During flowering in spring, when soil moisture and temperature are not favorable for root growth, foliar spray is advantageous to meet the internal demand of micronutrients.

Chelated micronutrient segment is projected to witness the fastest growth, in terms of value, in the agricultural micronutrients market, from 2019 to 2025.

Chelated micronutrients are organic molecules that combine with metal cation to form a ring-like structure. The metal ions are more readily available for uptake due to chelation. The important feature of chelating agents is its relative stability of various metal chelates. Chelated micronutrients are protected from oxidation, precipitation, and immobilization in certain conditions because the organic molecule can combine and form a ring encircling the micronutrient.

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Key players in the agricultural micronutrients market include BASF SE (Germany), Nutrien, Ltd. (Canada), Yara International ASA (Norway), AkzoNobel (Netherlands), The Mosaic Company (US), Valagro (Italy), and Compass Minerals International (US).

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