Europe Crop Micronutrient Market

Europe Crop Micronutrient Market Size, Growth, Trends and Forecast:

The Europe Crop Micronutrient market size was around USD 1.28 billion in 2021. It is expected to grow at a CAGR of 7.9% to reach USD 1.87 billion by 2026. It captures 20% of the global market. Crop micronutrients are significant elements that a crop requires for its growth. Unavailability of micronutrients hamper the critical functions of crops, leading to abnormality, reduced yield and slow growth.

Drivers and Restraints of Europe Crop Micronutrient Market:

This market is growing in accordance with the rising soil deficiency and growing demand for biofuels. Moreover, the growing need for effective fertilizers owing to poor soil quality and high demand for quality and uniform yield because of the growing population worldwide are anticipated to drive the growth of the market. Inadequate awareness among farmers and critical application doses of micronutrients are the primary factors restraining market growth.

Europe Crop Micronutrient Market Segmentation:

Europe Crop Micronutrient Market – By Type:

• Zinc

• Copper
• Boron
• Iron
• Manganese
• Molybdenum
• Others (nickel and chloride)

The zinc category is projected to lead the agricultural micronutrients market in terms of value. The demand for zinc is robust in the Asia Pacific region, as China and other emerging economies in this region prefer zinc fertilizers because they enhance crop yield and provide economic benefits to the farmers due to their low prices. The deficiency of zinc in the soil decreases the productivity and growth of agricultural crops. Therefore, zinc is added in standard fertilizers and premixes in many emerging economies like China and India which drive the use of zinc as a micronutrient.

Europe Crop Micronutrient Market – By Crop Type:

• Cereals
  • Rice
  • Wheat
  • Corn
• Oilseeds & pulses
  • Soybeans
  • Dry Peas
  •  Beans
  • Others (canola and sunflower).
• Fruits & vegetables
  • Brassica
  • Cucurbit
  • Leafy
  • Root-bulb
  • Solanaceae
• others

Europe Crop Micronutrient Market – By Application:

• Soil
• Foliar
• Fertigation

Europe Crop Micronutrient Market – By Form:

• Chelated
• Non-chelated

Chelated is further sub-segmented into Ethylenediaminetetraacetic acid (EDTA), Ethylenediamine Di-2-hydroxyphenyl acetate (EDDHA) and Diethylene triamine pentaacetic acid (DTPA).

Geographical Analysis:

By geography the market is segmented into UK, Spain, Germany, France and others. It is the third largest market in terms of market share.

Key Players:

Key players in the market include Yara International (Norway), The Mosaic Company (US), Land O’Lakes (US), BASF (Germany), Dow Chemical (US), Agrium (Canada), AkzoNobel (Netherlands), Helena Chemical Company (US), and Nufarm (Australia).