Global Agricultural Micronutrients Market is expected to grow at a CAGR of 8.7%

Agricultural Micronutrients Market by Type (Zinc, Boron, Iron, Manganese, Molybdenum, and Copper), By Mode of Application (Soil, Foliar, and Fertigation), Form (Chelated and Non-Chelated micronutrients), Crop Type, and Region Global Forecast to 2025

(EMAILWIRE.COM, December 23, 2021 ) The global agricultural micronutrients market is estimated to be valued at USD 3.6 billion in 2020 and is projected to reach a value of USD 5.4 billion by 2025, growing at a CAGR of 8.7% during the forecast period. Factors such as the rise in micronutrient deficiencies in the soil and growing awareness about food security are projected to drive the growth of the agricultural micronutrients market.

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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. The bioavailability of micronutrients such as Fe, Cu, Mn, and Zn is increased due to chelation which in turn contributes to the productivity and profitability of commercial crop production. Chelated micronutrients are available in many different ranges of soil pH.

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.

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

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