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Pune, India, July 28, 2021 (Global News Service)-Global Agricultural Micronutrient Market The scale is expected to grow significantly, reaching US$6.65 billion by 2028, and the compound annual growth rate from 2021 to 2028 is 7.51%. This information was published by Fortune Business Insights in its title ” “The agricultural micronutrient market in 2021-2028. ” The report further mentioned that the market size in 2020 will be 3.86 billion U.S. dollars. The decrease in arable land and the increase in demand for horticultural activities are considered to be positive growth factors for the market. According to data from the Data World Organization, half of the world’s habitable land is used for agricultural purposes. On the other hand, according to data from the European Commission and the Joint Research Center, about 970 million tons of soil are lost to erosion in the EU every year.
Impact of COVID-19:
Due to the growing demand for nutritious agricultural production, sales are soaring
According to the 2020 CropLife 100 survey, 69% of respondents believe that their micronutrient sales have increased by 1% to 5% in 2020. The increase in sales is due to government support initiatives and high global demand for nutritious agricultural products. The World Health Organization (WHO) emphasizes the need for grains, legumes and vegetables as a balanced diet. These factors are expected to benefit the demand for this product in the next few years.
The list of top companies in the global agricultural micronutrient market are:
- Haifa Group (Haifa, Israel)
- Akzo Nobel (Amsterdam, Netherlands)
- Nutrien Ltd. (Saskatoon, Canada)
- Yara International ASA (Oslo, Norway)
- Helena Agri-Enterprises, LLC (Tennessee, USA)
- Coromandel International Limited (Secunderabad, India)
- Mosaic Company (Florida, USA)
- Indian Farmer Fertilizer Cooperative (New Delhi, India)
- Compass Minerals Inc. (Kansas, USA)
- SAPEC SA (Brussels, Belgium)
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Market segmentation
According to the type, the market is divided into zinc, boron, iron, molybdenum, manganese, etc. According to the form, the market is divided into chelated and non-chelated. In addition, on the basis of application, the market is divided into soil, foliar and irrigation fertilization. According to the type of crop, the market is divided into grains, oilseeds and beans, fruits and vegetables, etc.
Depending on the type of crop, the cereal sector will account for approximately 48.09% of the global agricultural micronutrient market share in revenue in the next few years. This one has expired…
The full story on Benzinga.com
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