Latin America Agricultural Micronutrients Market

Latin America Agricultural Micronutrients Market Size (2024 to 2029)

The Latin America agricultural micronutrients market size is expected to reach USD 2.76 billion in 2024 and is anticipated to reach USD 4.14 billion by 2029, growing at a CAGR of 8.5 % from 2024 to 2029. 

A fertilizer that contains commercially valuable concentrations of micronutrients but does not contain commercially valuable concentrations of phosphoric acid, nitrogen, available phosphorus, potash, calcium, magnesium, or sulfur. Micronutrients include chlorine, boron, cobalt, iron, copper, manganese, sodium molybdenum, and zinc. These elements are essential for growth and play an important role in crop protection.

Factors such as increasing demand for food and increasing demand for standard quality and continuous yield because of growing population, depleting arable land are the strengthening the market. 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 limiting the growth of the markets.

This research report on the Latin American agricultural micronutrients market is segmented and sub-segmented into the following categories.

Latin America Agricultural Micronutrients Market Analysis By Type

• Zinc
• Boron
• Copper
• Manganese
• Molybdenum
• Iron
• cobalt
• others

Latin America Agricultural Micronutrients Market Analysis By Mode of Application

• Soil
• Fertigation
• seed treatment
• Foliar
• Others

Latin America Agricultural Micronutrients Market Analysis By Form

• Chelated
  • Ethylenediaminetetraacetic Acid (EDTA)
  • Diethylene Triamine Pentaacetic Acid (DTPA)
  • Ethylenediamine Di-2-Hydroxyphenyl Acetate (EDDHA)
  • D,L-Aspartic Acid N-(1,2-Dicarboxyethyl) Tetrasodium Salt (IDHA)
  • Hydroxybenzyl Ethylenediamine Diacetic Acid(HBED)
• Non-Chelated Agricultural Micronutrients

Latin America Agricultural Micronutrients Market Analysis By Crop Type

• Fruits and Vegetables
• Cereals
• Pulses
• oilseeds
• others

The zinc segment is expected to grow at the highest CAGR because of the growing demand for zinc in food. Cereals is the highest growing segment around the world owing to continuous technological advancements and growing demand for cereals.

COUNTRY ANALYSIS

• Mexico
• Brazil
• Argentina
• Chile
• Rest of Latin America

Geographically, this market is further segmented in to Brazil, Argentina and Mexico. Brazil recorded the highest utilization of Agricultural micronutrients in the Latin American area, because of economic improvement taking place in the country. It is expected that Brazil will continue to showcase huge potential for use of Agricultural micronutrients in coming years too.

KEY PLAYERS IN THE LATIN AMERICA AGRICULTURAL MICRONUTRIENTS MARKET

This report also provides detailed marketing and development strategies used by major players such as BASF SE, Mosaic and Cheminova, Agrium Inc., Aries Agro Ltd., Coromandel International Ltd., Yara International, Valagro, Gujarat State Fertilizers & Chemicals, Tradecorp International, AkzoNobel