New York City, NY, 01 May, 2020/ 24 Market Reports: It is estimated for the agricultural micronutrients market to reach USD 5.4 billion by 2025, growing at a CAGR of 8.7% during the forecast period. The rise in micronutrient deficiencies in the soil and growing awareness about food security are the factors that are driving the growth of the market during the forecast period.
The chelated segment is projected to be the fastest-growing segment in the agricultural micronutrients market
Chelated micronutrients are organic molecules that combine with metal cation to form a ring-like structure. Chelated micronutrients are available in different ranges of soil pH. Some of the most commonly used chelating agents during the production of synthetic micronutrient chelates are ethylene diamine-tetra-acetic acid (EDTA), diethylene-triamine Penta-acetic acid (DTPA), and ethylenediamine-N, N¡ä-bis (2-hydroxyphenyl acetic acid) (EDDHA). Moreover, due to the stable nature of chelated compounds, the adoption of chelated micronutrients is projected to grow at a faster pace.
Fruits & vegetable segment is projected to be the fastest-growing segment in the global market based on crop type
The trend of consuming fruits has witnessed a growth in the past two decades, and this trend is projected to continue in the coming years. According to the FAO, the global production levels of the fruits and the vegetables has raised from 108 hundred metric tons in 2007 to 141 hundred metric tons in 2017. The increasing exports of fruits & vegetables have also led to an increase in the crop plantation area, which has resulted in a rise in their production levels. Hence, the crop sustaining and protecting the chemicals market for fruits & vegetables is projected to witness significant growth.
Asia Pacific region to grow at the fastest rate in the region during the forecast period
Asia Pacific region is estimated to drive the growth of the market during the forecast period. Increasing agricultural practices and the requirement of high-quality agricultural produce are the driving factors that are propelling the growth of the market in the region during the forecast period. Due to the direct use of micronutrients to treat plant deficiencies and are often sprayed in combination or as additives to NPK products, there is increasing use of the product in the Asia Pacific region during the forecast period.
Major Industry outlook Of Agricultural Micronutrients Market
