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“Rising adoption of advanced lightings in vehicles and development of cutting edge lighting by key players is expected to drive market growth during the forecast period,” comments an FMI analyst.
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The Hidden Power: Micronutrients' Impact on Crop Vitality
From past few years chemical fertilizers are widely used on crops which is resulting in micronutrient deficiencies in crops. In addition to this, water scarcity and intensive chopping patterns are also increasing the micronutrient deficiencies in crops. The global crop micronutrient market is set to witness growth at a CAGR of 7.4% and top valuation of US$ 8.1 Billion by 2032.
Concerns have been raised by the phrase “food insecurity” among academics, researchers, agronomists, and policymakers all around the world. Food security has gotten a lot of attention recently because of the changing climate and the constant threat posed by anthropogenic activities.
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“Increasing sales of processed food products, along with high preference for nutrient-rich breakfast cereals and other products will continue augmenting the growth in the market over the forecast period,” says an FMI analyst.
Key Takeaways:
The crop nutrients market is expected to expand at CAGR of 5.9% and 4.1% in Latin America and the Middle East & Africa respectively through 2032.
East Asia and South Asia will account for 19.4% and 15.2% respectively in 2022, due to increasing awareness regarding micronutrients among the farmers.
Among the form segment, chelated micronutrients are dominating the crop micronutrient market holding around 78.3% share in 2022 and is expected to grow with CAGR of 4.5% over the forecast period.
Competitive Landscape
Key players operating in the crop micronutrient market are DowDuPont Inc., Aries Agro Ltd., Baicor L.C., Compass Minerals International, Inc., BASF SE, The Mosaic Company, Western Nutrients Corporation, Nutrien Ltd., Akzo Nobel N.V, and Yara international ASA.
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Crop Micronutrients Market By Category
By Form:
Chelated Micronutrients
Non-chelated Micronutrients
By Crop Type:
Cereals & Grains
Pulses and Oilseeds
Fruits & Vegetables
By Product Type:
Boron
Zinc
Copper
Molybdenum
Iron
Manganese
https://www.databridgemarketre....search.com/reports/g