Agricultural Micronutrients Market Growth Accelerated By Increasing Need For Improved Soil Fertility

https://www.coherentmarketinsights.com/market-insight/agricultural-micronutrients-market-1967
Agricultural Micronutrients Market


Agricultural micronutrients are essential plant nutrients required in small quantities for healthy plant growth and development. Micronutrients such as iron, zinc, manganese, molybdenum, and boron play vital roles in various metabolic functions of crops such as photosynthesis, nitrogen fixation, and enzyme activity. The increasing need to boost crop yields and improve soil fertility has raised the demand for micronutrient fertilizers globally. The growing population and reducing arable land have fueled the need for sustainable agricultural practices, propelling the micronutrients market.

The global Agricultural Micronutrients Market is estimated to be valued at US$ 5.19 Bn in 2024 and is expected to exhibit a CAGR of 27.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The increasing adoption of precision farming and digital technologies in the agriculture sector is one of the key trends driving the agricultural micronutrients market. Precision farming enables site-specific crop management and nutrient application based on soil conditions. Digital monitoring of soil nutrients and precise dosage of micronutrients help optimize fertilizer usage and boost crop yields. Many farmers are shifting from conventional to smart farming practices to minimize production costs and improve sustainability. This rising trend of precision agriculture is expected to fuel the demand for agricultural micronutrients over the forecast period.

Segment Analysis
The global agricultural micronutrients market is dominated by the chelated segment. Chelated agricultural micronutrients are readily absorbed by plants and have higher nutrient bioavailability as compared to inorganic micronutrients. These micronutrients also ensure effective and efficient nutrient utilization. This has increased chelated agricultural micronutrients preference among farmers.

Key Takeaways
The global Agricultural Micronutrients Market Demand is expected to witness high growth during the forecast period of 2024 to 2031. The market size for 2024 is estimated to be US$ 5.19 Billion.

Regional analysis: North America dominates the global agricultural micronutrients market. The high demand for crop yield and quality in the region is driving the adoption of agricultural micronutrients. Growth in organic farmland and government support for sustainable farming practices are also fueling market growth in North America.

Key players operating in the agricultural micronutrients market are Drone Defence, DeTect Inc., Zen Technologies Limited, DroneShield Ltd, METIS Aerospace Ltd, QinetiQ Group PLC, Thales Group, Lockheed Martin Corporation SRC Inc., Dedrone, SAAB AB, Raytheon Technologies Corporation, IAI Group, Citadel Defense, and Robin Radar Systems.

Explore more related article on this topic: https://www.pressreleasebulletin.com/agricultural-micronutrients-market-driven-by-increased-demand/

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