With rising global population and increased demand for food, micro-fertilizers have emerged as an essential part of sustainable agriculture. Micronutrients are chemical elements required by plants and animals in trace amounts for proper growth and development. Micronutrient deficiencies affect nearly 2 billion people globally resulting in stunted growth and increased mortality. Micronutrient fertilizers help overcome these deficiencies and maximize crop yields. They supply micronutrients such as boron, chlorine, copper, iron, manganese, molybdenum, and zinc which are essential for numerous plant metabolic activities like photosynthesis and enzyme functioning. With the widespread problem of soil micronutrient depletion and rising awareness about their benefits, the global micronutrient fertilizers market is expected to witness significant growth in the coming years.
Market Dynamics:
The micronutrient fertilizers market is driven by factors such as increasing global food demand, widespread micronutrient deficiencies in soils, and government initiatives to promote sustainable agriculture. However, high costs of micronutrient fertilizers and preference for conventional fertilizers in developing nations are restraining the market growth. The market provides opportunities for players to develop innovative and integrated fertilizer products. Rising popularity of organic farming and precision farming also offer potential opportunities.
Key Features of the Study:
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