Global Crop Micronutrients Market: By Type (Boron, Molybdenum, Manganese, Zinc, Iron, Others), By Function (Fertigation, Foliar, Soil, Others), By Form (Chelated, Non-chelated,) By Crop (Fruits & Vegetables, Oil Seeds & Pulses, Grains & Cereals, Others), and Geography

 

Crop Micronutrients Market size was valued at USD 6.58 billion in 2022 and is expected to reach USD 11 billion by 2029, at a CAGR of 7.61% from 2023-2029. Micronutrients are comprised of vitamins and minerals which are required in small quantities to ensure normal metabolism, growth and physical well-being. The essential micronutrients for field crops are B, Cu, Fe, Mn, Mo, and Zn. Other mineral nutrients at low concentrations considered essential to growth of some plants are Ni and Co. The incidence of micronutrient deficiencies in crops has increased markedly in recent years. Increase in the population is the key factor anticipating the growth of the crop micronutrients market. The loss of top soil by erosion, losses of micronutrients through leaching, liming of acid soils, decreased proportions of farmyard manure compared to chemical fertilizers, increased purity of chemical fertilizers are some of the factors influencing the growth of the market. Increasing health issues along with shift in consumer preference towards nutritious food is expected to drive the growth of the crop micronutrients market. However, the stringent government regulations are likely to hinder the growth of the market. The limited awareness among the farmers regarding the micronutrient products are hampering the growth of the market. The high cost of the micronutrients is limiting the growth of the market. this report studies global Market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, The global Crop Micronutrients Market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global Crop Micronutrients Market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities).