Agricultural Micronutrients Market is to Witness Significant Growth 2021-2028

Agricultural Micronutrients

Agricultural micronutrients are essential for plant growth and play an important role in crop nutrition. Zinc, manganese, nickel, boron, copper, molybdenum, and chloride are among them. Despite the presence of sufficient nutrients, a lack of any of these micronutrients in the soil can stymie plant growth.

Soil application led the global Agricultural Micronutrients Market due to its ease of use and low labor and time requirements. Furthermore, because micronutrients come into direct touch with the roots when added to soil, they are extremely effective, leading to great productivity and yield. Foliar sprays are expected to drive growth in the global market for agricultural micronutrients over the forecast period, owing to the numerous benefits they provide, such as easy and uniform application, lower application costs when compared to soil application, and immediate response to nutrient applied, thus correcting deficiencies during the growing season.

The zinc category, among product kinds, is expected to increase significantly in the Global Agricultural Micronutrients Market. This is due to the numerous benefits that zinc fertilizers provide, such as increased agricultural output and lower expenses. Zinc deficiency in the soil affects crop development and production, compensating for a necessary component. The cereal market grew the most among crop kinds, leading to an increase in cereal consumption and demand internationally. According to the Food and Agriculture Organization (FAO), cereal output is expected to increase by 12% from 2015 to 2025, owing primarily to yield increases and limited land expansion. Furthermore, grain consumption is expected to rise by 14% by 2025, from 340 million tonnes in 2015.

One of the primary factors driving growth in the global Agricultural Micronutrients Market is the increasing demand for biofuels and the rising soil deficit. The Energy Independence and Security Act of the United States (EISA) increased the renewable fuel target to 36 billion gallons by 2022. Furthermore, the growing demand for effective fertilisers as a result of poor soil quality, as well as the growing desire for uniform and high-quality yields fueled by the rising population, are likely to drive the market for agricultural micronutrients on a global scale. However, a lack of understanding of agricultural micronutrients among farmers, particularly in emerging nations, as well as crucial application levels of these micronutrients, are important constraining factors for this market.