Market Overview:

The world market for Agricultural Microorganisms was at US$ 6.9 billion in 2019 and is expected to reach US$ 10.3 billion by 2024, with an annual compound rate of 8.28%. The market is expanding speedily due to the growing shortage of land and the burgeoning demand for high-quality yield. Micronutrients are supplements required by organisms throughout their lives in small amounts to coordinate a range of physiological functions. They are crucial for plant growth and play a vital role in the equal protection of crops. Micronutrient deficiency leads to wilting of crop shoots, yellowing of leaves, health risks and, ultimately, leads to lower crop productivity.

 

Market Drivers and Restraints:

The growing demand for food and the increasing demand for standardized quality and continuous yield due to the rising population and the consumption of arable land are the main factors that drive the market. The lack of awareness among farmers in emerging regions, the high cost, the lack of information on the appropriate amount that will be introduced into the soil due to the lack of standard levels established by regulators are the main market constraints.

 

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Report segmented as

By Form:

• Chelated (EDTA, DTPA, EDDHA, IDHA, HBED
• Non-Chelated

By Type:

• Zinc,
• Boron,
• Copper,
• Manganese,
• Molybdenum,
• Iron,
• Cobalt

By Application:

• Soil,
• Fertigation,
• Seed Treatment,
• Foliar

By Disease Indications:

• Fruits And Vegetables,
• Cereals,
• Pulses
• Oilseeds

Geographical Analysis:

Geographically, this market is subdivided into North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa. Asia-Pacific is the largest market in the world and continues to dominate throughout the forecast period due to high demand for nutritious foods, increased investment in agriculture and cost management of crop production.

Important Market Players:

Some of the key companies functioning in global marketplace are BASF SE, Mosaic and Cheminova, Agrium Inc., Aries Agro Ltd., Coromandel International Ltd., Yara International, Valagro, Gujarat State Fertilizers & Chemicals, Tradecorp International, and AkzoNobel.

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The Scope of the report:

This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.

About Us:

Market Data Forecast is a firm working in the areas of market research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients.

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