The agricultural micronutrients market involves various beneficial elements required in small quantities for proper growth of crops. Micronutrients such as zinc, copper, manganese, boron, and iron play a crucial role in boosting crop yields, quality and nutrition along with improving soil health. Due to declining land productivity and soil degradation over years of intensive farming without micronutrient replenishment, the demand for micronutrient fertilizers is increasing across the globe.
Key Takeaways
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.
The key opportunities in the market include the development of innovative fertilizer formulations, precision farming techniques and adoption of soil testing practices which enable tailored and judicious application of micronutrients. Organic farming is also gaining popularity worldwide creating new prospects.
Globally, increasing export opportunities for agri-commodities from emergent countries like India and Brazil and increasing cultivation of high-value crops are driving the expansion of agricultural micronutrients market. Furthermore, growing government support for sustainable agricultural practices is boosting micronutrient adoption.
Market drivers and restrain:
The major market driver is the increasing demand for food due to rapidly growing population globally which is compelling farmers to maximize productivity through balanced fertilization. Micronutrients play a vital role in addressing hidden hunger. However, lack of awareness among smallholder farmers especially in developing countries and high costs involved act as a major restrain. Long-term overuse of certain micronutrients like boron can also impact the soil chemistry negatively. Strict regulations are needed for sustainable use.
Segment Analysis
Animal Micronutrients sub-segment leads the Agricultural Micronutrients Market Growth, accounting for more than 30% share in 2024. Livestock forms a crucial part of the global agriculture industry. The rising awareness pertaining to the nutritional value of feed supplements has positively impacted the sales of animal micronutrients. Farmers are increasingly utilizing micronutrient fortified feed to boost the immune system and ensure proper growth of cattle, poultry and other animals. This in turn spurs the demand for various zinc, copper, manganese and other metal-based feed supplements.
Global Analysis
North America represented the largest regional market for agricultural micronutrients in 2024, holding over 35% revenue share. This is attributed to the growing adoption of precision farming practices and modern agricultural techniques among growers in the US and Canada. Crop micronutrient deficiencies and poor soil health are major concerns faced by farmers in this region. Availability of educational programs and subsidies aimed at promoting sustainable agriculture will further augment the usage of micronutrient fertilizers in North America over the next six years. Asia Pacific is predicted to witness highest CAGR of around 30% during the forecast period. Fertilizer manufacturers are expanding their presence and production capacities across developing Asian countries to address the rising need for high-value nutrients among farmers.
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