The Asia Pacific agricultural micronutrient market is expected to propel ahead with a CAGR growth of 8.44%, between the years 2019-2027. The market revenue for this forecast period is predicted to increase from $XX billion in the base year 2018 and reach $XX million by the end of 2027.
Most of the countries in the Asia Pacific region are undergoing a makeover in terms of rapid urbanization and economic progress. The Asia-Pacific region constitutes of China, Japan, India, South Korea, Australia and the Rest of Asia Pacific. Market demand for crop micronutrients in Asia-Pacific is driven by rising demand for food production to feed growing populations, increase in crop production, government initiatives and growing penetration of food fortification programs. The agricultural micronutrient market is highly fragmented. Its segments include mode of applications, micronutrient type, form and crop type. However, the high cost of agricultural micronutrients and the lack of knowledge regarding their use is likely to hinder the market growth in this region.
DowDuPont, AkzoNobel N.V., BASF SE, Aries Agro Ltd., Coromandel International Ltd., Western Nutrients Corporation, Valagro SpA, The Mosaic Company, Nutrien Ltd., SAPEC S.A., FMC Corporation, Haifa Group, Baicor L.C., Yara International ASA, and Compass Minerals International Inc. are some of the noted players in this market.