Middle East and Africa Agricultural Micronutrients Market was worth USD 1.21 billion 2021 and is expected to reach USD 3.12 billion by 2026 with a CAGR of 7.31 %. Market is expected to increase during the forecast period because of untapped potential in this region.
Agricultural Micronutrients are those nutrients that are required in small amounts than other plant nutrients in crop for obtaining better yield. These include chloride (Cl), iron (Fe), boron (B), copper (Cu), molybdenum (Mo), manganese (Mn), and zinc (Zn). Hence, these are essential elements for plant growth. This region is likely to witness steady gains during the forecast period as North Africa is witnessing advancements in farming technologies.
Middle East and Africa Agricultural Micronutrients Market Drivers:
Factors such as rising demand for food and increasing demand for standard quality and continuous yield because of growing population, depleting arable land are the driving the market. Factors such as Lack of awareness among farmers in developing regions, high cost, lack of awareness about an appropriate quantity to be injected into the soil due to lack of standardized levels established by regulatory agencies are the limiting the markets.
Middle East and Africa Agricultural Micronutrients Market – By Type:
Middle East and Africa Agricultural Micronutrients Market – By Mode of Application:
Middle East and Africa Agricultural Micronutrients Market – By Form:
Middle East and Africa Agricultural Micronutrients Market – By Crop Type:
Zinc segment is expected to grow at highest CAGR because of growing demand for zinc in the food. Cereals is the highest growing segment around the world owing to continuous technological advancements and growing demand for cereals.
Geographically, this market is further segmented in to Middle East and Africa. This region has untapped market potential and gaining interest of market leaders.
Major companies operating in this market are BASF SE, Mosaic and Cheminova, Agrium Inc., Aries Agro Ltd., Coromandel International Ltd., Yara International, Valagro, Gujarat State Fertilizers & Chemicals, Tradecorp International, AkzoNobel.
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