The global Micronutrients Market is expected to reach USD 6.87 Billion by 2028 at a CAGR of 8.4%, according to a new report by Reports and Data. The augmenting demand from the agricultural sector to improve crop yield, growing incidences of plant diseases, and the increasing awareness about the critical advantages of micronutrients are the primary factors contributing to the market growth. The market is predominantly driven by the escalating need for efficient plant nutrition products to overcome the deficiency of micronutrients in plants.
Additionally, the diminishing proportion of the arable land in major economies and the growing levels of contamination in the soil are projected to add traction to the market growth. Micronutrients play a crucial role in the growth and metabolism of plants, and subsequently, humans and animals. They are projected to have an impact on the immune system and reduce the risks of cancer and other severe illnesses in humans. This has boosted the shift of consumers towards a nutrient-dense diet, which is, in turn, projected to drive the market growth in the forecast timeframe.
The increasing need for high crop yield, more use of synthetic fertilizers, and the reduction in the content of micronutrients available for the plants are estimated to bolster the growth of the market in the timeframe. Additionally, the amalgamation of fertilizers and micronutrients has led to a reduction in costs and allowed the uniform distribution of micronutrients. This is further estimated to bolster the market growth in the timeline.
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Key Players Profiled in the Report are:
Agrium Inc., BASF SE, Aries Agro Ltd., Coromandel International Ltd., Yara International, Valagro, Gujarat State Fertilizers & Chemicals, AkzoNobel, Tradecorp International, Mosaic, and Cheminova.
The competitive scenario segment of the report focuses on company overview, total revenue, market potential, market share, growth rate, global presence, estimated revenue, products and services offered, and business strategies adopted. Significant players operating in the global Micronutrients market are evaluated by considering market share, growth rate, revenue share, and product markets. The report focuses on a detailed explanation of competition, market growth size, margins, market shares, revenue estimation, business strategies and opportunities, mergers and acquisitions, sales, industry insights, and key factors.
For the purpose of this report, Reports and Data has segmented the global Micronutrients Market based on Crop Type, Type, and Region:
Type Outlook (Revenue, USD Billion; 2018-2028)
Form Outlook (Revenue, USD Billion; 2018-2028)
Application Outlook (Revenue, USD Billion; 2018-2028)
End-user Outlook (Revenue, USD Billion; 2018-2028)
- Fruits & Vegetables
- Pulses & Oilseeds
Regional Analysis Covers:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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To summarize, the report titled ‘Global Micronutrients Market’ provides a detailed report of the market by extensive research about the companies involved, current market status, drivers and constraints, and current and future COVID-19 oriented scenario. The study explores the historical years to provide insights into market estimation and fruitful opportunities for key players and new ventures.
Key insights presented in the report:
- Market revenue shares by major business players, by type, application, and market scope of global Micronutrients market
- Sales revenue by key players and new entrants
- Competitive analysis of key players, including company overview, product or services specification, vendors, and buyers.
- Recent mergers, acquisitions, product launches, recent investments, and joint ventures
- Regional analysis to provide insight into recent trends and opportunities
To know more about the “Micronutrients Market” report, visit @ https://reportsanddata.com/report-detail/micronutrients-market
The report covers macro and micro-economic factors that are anticipated to affect market growth and dynamics. Along with this, the report also offers insights into the social, political, economic, and legal aspects that are anticipated to influence the growth of the market. Moreover, the report provides a thorough analysis of the size in terms of value and volume and offers an accurate forecast of the market growth and expansion.
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