This report provides exclusive insights into the COVID-19 impact on the Crop Micronutrients Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Crop Micronutrients Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Crop Micronutrients Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by Infinium Global Research on
crop micronutrients market provides an in-depth analysis of segments and sub-segments
in the global as well as regional crop micronutrients market. The study also
highlights the impact of drivers, restraints, and macro indicators on the
global and regional crop micronutrients market over the short term as well as
long term. The report is a comprehensive presentation of trends, forecast and
dollar values of global crop micronutrients market. According to the report,
the global crop micronutrients market is projected to grow at a CAGR of 8.2%
over the forecast period of 2019-2025.
Crop micronutrients are vital elements required in small
quantities for plant growth and other metabolic activities of plants. These are
naturally found and can be artificially synthesized. Micronutrients such as
zinc, iron, boron, and copper balanced crop nutrition. These micronutrients
stimulate plant growth by improving properties such as quality, taste, color,
resistance to disease, and water use.
Micronutrients increase the effectiveness of crop yield and
productivity. Growing awareness about the benefits of micronutrients led to the
expansion of the crop micronutrients market. Further, the rising use of
chemical fertilizers, intensive cropping patterns, and water scarcity issues
promote deficiencies in micronutrients among crops. Such deficiencies are
detected through different symptoms in plants and testing the plant tissues and
soil. This will augment the demand for crop micronutrients over the forecast
period. In addition, micronutrients have an impact on the body’s immune system
and it reduces the risk of dementia, blindness, and mental retardation. This
encourages consumers to prefer a nutrient-rich diet complementing the growth of
crop micronutrients market. Additionally, micronutrients are used by humans and
other microorganisms for different physiological functions. On the flip side,
the availability of cheaper alternatives and counterfeit products hampers the
growth of crop micronutrients market. Moreover, research and development on
micronutrient availability bode well create several opportunities for the
Geographically, the global crop micronutrients market is
divided into North America, Asia-Pacific, Europe, and the Rest of the World.
Asia-Pacific region accounts for the largest share in the global crop nutrients
market. Increasing focus on improving the efficiency in agriculture in
countries such as India and China contributes to the growth of the Asia-Pacific
crop micronutrients market. Agriculture is a major industry in India and China.
North America has potential opportunities in the global crop micronutrients
market. The adoption of advanced technologies in farming in North America will
expand the growth of crop micronutrients market in North America. Europe is
expected to grow in the global crop micronutrients market with a healthy CAGR
over the forecast period. The growth of the market in Europe is attributed to
the rising vegan population and growing awareness about nutrient-rich diet in
the region. A study shows that Italy has the dominant share of vegetarians in
Europe with 10% of the total population.
The report on global crop micronutrients market covers
segments such as product type, form, crop type, and application. On the basis
of product type, the sub-markets include copper, boron, iron, zinc, and other
product types. On the basis of form, the sub-markets include chelated, and
non-chelated. On the basis of crop type, the sub-markets include fruits and vegetables,
cereals and grains, pulses and oilseeds, and other crop types. On the basis of
application, the sub-markets include soil, foliar, fertigation, seed treatment,
and other applications.
The report provides profiles of the companies in the market
such as BASF SE, Akzo Nobel N.V., Aries Agro Ltd., The Mosaic Company, Nutrien
Ltd., Western Nutrients Corporation, Yara International ASA, Baicor L.C.,
Compass Minerals International, Inc., DowDuPont Inc., and Other companies.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of crop
micronutrients market. Moreover, the study highlights current market trends and
provides forecast from 2019-2025. We also have highlighted future trends in the
market that will affect the demand during the forecast period. Moreover, the competitive
analysis given in each regional market brings an insight into the market share
of the leading players.