Micronutrients are those elements essential for plant growth which are needed in only very small (micro) quantities. These elements are sometimes called minor elements or trace elements, but use of the term micronutrient is encouraged by the American Society of Agronomy and the Soil Science Society of America. The micronutrients are boron (B), copper (Cu), iron (Fe), chloride (Cl), manganese (Mn), molybdenum (Mo) and zinc (Zn). Recycling organic matter such as grass clippings and tree leaves is an excellent way of providing micronutrients (as well as macronutrients) to growing plants.
Market Analysis and Insights: Global Micronutrient Market
Due to the COVID-19 pandemic, the global Micronutrient market size is estimated to be worth US$ 7319.2 million in 2021 and is forecast to a readjusted size of US$ 7319.2 million by 2028 with a CAGR of 6.8% during the review period. Fully considering the economic change by this health crisis, by Type accounting for % of the Micronutrient global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR in the post-COVID-19 period. While by Type segment is altered to an % CAGR throughout this forecast period.
North America is the largest Micronutrient market with about 42% market share. Europe is follower, accounting for about 27% market share.
The key players are BASF, AkzoNobel, Yara International, Haifa, Nutrien, Stoller, Mosaic, JR Simplot, Nulex, Sapec SA, Wolf Trax, DAYAL GROUP, SAM HPRP, Frit Industries, Valagro, ATP Nutrition, Kronos Micronutrients, Sun Agrigenetics, QC Corporation, Coromandel International, Microfeed, Sinofert Holding, Jinpai Fertilier, Hui Yi Chemical, Wintong Chemicals etc. Top 3 companies occupied about 40% market share.
Global Micronutrient Scope and Market Size
The global Micronutrient market is segmented by company, region (country), by Type and by Application. Players, stakeholders, and other participants in the global Micronutrient market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on sales, revenue and forecast by region (country), by Type and by Application for the period 2017-2028.
Segment by Type
Soil Fertilizer
Foliar Fertilizer
Seed Treatment
Hydroponics
Others
Segment by Application
Cereals
Fruits and Vegetables
Flowers
Others
By Region
United States
Europe
China
Japan
Southeast Asia
India
Other Regions
By Company
BASF
AkzoNobel
Yara International
Haifa
Nutrien
Stoller
Mosaic
JR Simplot
Nulex
Sapec SA
Wolf Trax
DAYAL GROUP
SAM HPRP
Frit Industries
Valagro
ATP Nutrition
Kronos Micronutrients
Sun Agrigenetics
QC Corporation
Coromandel International
Microfeed
Sinofert Holding
Jinpai Fertilier
Hui Yi Chemical
Wintong Chemicals