PUBLISHER: KBV Research | PRODUCT CODE: 1093258
PUBLISHER: KBV Research | PRODUCT CODE: 1093258
The Latin America, Middle East and Africa Crop Micronutrients Market would witness market growth of 9.9% CAGR during the forecast period (2022-2028).
Manganese is becoming increasingly popular for its ability to protect crops from disease. The increased consumer demand for a well-balanced diet is creating value grab possibilities for agricultural micronutrient manufacturers. Manganese compounds are being produced in greater quantities by manufacturers, as manganese aids in the activation of the crop's internal defense reaction against disease. Aside from manganese and zinc, agricultural micronutrient manufacturers are increasing the production of calcium, copper, and boron compounds, which are important for plant development. Manganese fertigation promotes disease resistance in crops by activating phytoalexins and molecular compounds in the plant, which aid in pathogen recovery.
Micronutrient supply is controlled entirely by the balance between the soil solution, cation exchange sites, soil organic matter, and insoluble micronutrient molecules due to complicated chemical interactions inside the soil. The tie-up of micronutrients or their accessibility to plants is influenced by soil acidity or alkalinity. Along with that, micronutrients are most abundant in acidic soils and are frequently lacking in soils with a high pH.
Turkey's agricultural sector has been one of the top ten in the world, with agricultural land covering half of the country and agriculture employing over a quarter of the people. Turkey produces wheat, sugar beets, milk, chicken, tomatoes, cotton, and other fruits & vegetables, and is the world's largest producer of apricots and hazelnuts. In addition, Turkey's young and rising population opens up fresh market prospects and product debuts. Turkey imports oilseeds, such as soybean and meal, and also grain products, as animal feed inputs for its meat and poultry industries, which are constantly expanding. Turkey also imports raw materials for its food processing and baking industries, as well as more cotton for its advanced textile industry.
Along with that, in Uganda's agriculture industry, there is major investment potential in production, input supply, value-added processing, standards compliance and export, and post-harvest management. Also, the increasing population of various nations in the region would create more demand for numerous crops and food items and hence, motivating the key regional players to invest in the market. Additionally, the regional crop micronutrients market is expected to grow in the coming years.
The Brazil market dominated the LAMEA Crop Micronutrients Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $224.7 million by 2028. The Argentina market is estimated to grow at a CAGR of 10.5% during (2022 - 2028). Additionally, The UAE market would witness a CAGR of 9.6% during (2022 - 2028).
Based on Form, the market is segmented into Chelated and Non-Chelated. Based on Application, the market is segmented into Soil, Foliar, Fertigation, and Others. Based on Crop Type, the market is segmented into Cereals & Grains, Pulses & Oilseeds, Fruits & Vegetables, and Others. Based on Type, the market is segmented into Copper, Zinc, Boron, Iron, Manganese, Molybdenum, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include BASF SE, Compass Minerals International, Inc., The Mosaic Company, Nutrien Limited, DuPont de Nemours, Inc., Akzo Nobel N.V., Aries Agro Limited, Yara International ASA, Baicor, LLC, and Western Nutrients Corporation.
Market Segments covered in the Report:
By Form
By Application
By Crop Type
By Type
By Country
Companies Profiled
Unique Offerings from KBV Research
List of Figures