Depleting soil quality is driving the growth of India’s Agricultural micronutrients Market, FY2017-FY2027. According to TechSci report on, “India Agricultural Micronutrients MarketBy Form (Chelated v/s Non-Chelated), By Type (Zinc, Cooper, Boron, Iron, Manganese, Others), By Mode of Application (Soil, Foliar, Fertigation, Others), By Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Others), By Region, Competition Forecast & Opportunities, FY2027”, India agricultural micronutrients market has shown promising growth in historical years until FY2020 and is expected to continue its growth in upcoming forecast years FY2023 to FY2027.
The Important Elements of India’s Agricultural Micronutrients Market
India’s Agricultural micronutrient market owes its growth to the factors like a deficiency in the soil nutrient content. Due to continuous agricultural practices and crop rotation practices, the micronutrient quantity in the soil is rapidly depleting. This hinders the quality as well as quantity of the respective crops thereby raising the demand for the external addition of agricultural micronutrients in the soil, thus driving the growth of the Indian agricultural micronutrient market in the upcoming five years. Additionally, increasing concerns about the nutrient content in the food material along with the food safety measures are supporting the growth of the India agricultural micronutrient market in the next five years. Moreover, consistent research and technological advancement in the agricultural sector is also substantiating the growth of the Indiann agricultural micronutrient market in the future five years.
Government initiatives like Essential Commodities Act, are further supporting the growth of the market. The government provides finances to the farmers and cultivators, along with favorable policies, supply of higher-yielding seeds, etc. that aid the growth of the India agricultural micronutrients market in the forecast period, until FY2027.
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The India agricultural micronutrients market segmentation is based on form, type, mode of application, crop type, regional distribution, top 3 states analysis in each region, and competitional landscape. Based on form, the market segment is divided between chelated v/s non-chelated forms of agricultural micronutrients. Chelated micronutrients are the form of agricultural micronutrients that helps to achieve the optimum requirement of the micronutrients in the soil. The chelating agent forms an ionic bond with these micronutrients thus, their absorption from the soil to the plant becomes easier and more efficient, thus increasing the growth of the segment that promotes the overall growth of the Indian agricultural micronutrient market in the upcoming five years. Micronutrients that are anyways absorbed efficiently and are often produced by the plant itself are not bonded with any chelating agent and register significant growth in their revenue shares in the Indian agricultural micronutrient market.
The Major Competitors of India Agricultural Micronutrients Market
- Industry players like Aries Agro Limited
- Coromandel International Ltd.
- Zuari Agrochemicals Ltd, BASF India Limited
- Deepak Fertilisers and Petrochemicals Corporation Limited
- Clean Agro Fertilizer And Chemical Pvt. Ltd.
- Yara Fertilisers India Pvt. Ltd.
- Indian Farmers Fertiliser Cooperative Limited
- Roop Rasayan Industries Pvt. Ltd., and DCM Shriram Farm Solutions, among others, are functional and generate huge revenues for the India agricultural micronutrients market. Major market players are actively dedicated to the research and development of advanced products such that the consumer’s demand could be fulfilled. Consistent research ensures future launches for better products and services. With rapidly surging demand for advanced products, the new market entrants would be able to establish their brand and thus their marketplace. Other strategies include collaborations and partnerships with pre-existing market players or research institutes such that government funding can be availed for product development.
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“The agricultural sector in the country is booming on the grounds of the rapidly increasing population of the country. The government of India has multiple authoritative bodies and regulation boards along with active schemes related to the agricultural sector that promotes, support, and substantiate future growth of the sector as well as the population associated with it. Providing proper education and creating awareness among the farmers and cultivators are advantageous for the market as well as the whole industry. Depleting soil quality, rapid increase in the harmful effects on the environment, as well as the environmental resources, is further driving the growth of the India agricultural micronutrients market,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“India Agricultural Micronutrients Market By Form (Chelated v/s Non-Chelated), By Type (Zinc, Cooper, Boron, Iron, Manganese, Others), By Mode of Application (Soil, Foliar, Fertigation, Others), By Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Others), By Region, Competition Forecast & Opportunities, FY2027” has evaluated the future growth potential of India Agricultural micronutrients market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India Agricultural micronutrients market.
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