Which region is expected to be the fastest-growing market for agricultural secondary nutrients?
The Asia Pacific region is projected to witness the highest CAGR due to its booming agricultural industry, rapidly growing population, and rising demand for nutrient-rich food products.
Who are the major players in the agricultural secondary nutrients market?
Leading players include Nutrien Ltd, Yara International, Coromandel International, The Mosaic Company, and Deepak Fertilisers and Petrochemicals. These companies are employing various strategies like expansions, new product launches, and partnerships to gain market share.
What is driving the growth of the agricultural secondary nutrients market?
The rapid decline in arable land and increasing pressure to boost crop yields are key factors propelling market expansion. Additionally, rising awareness of the benefits of secondary nutrients like calcium, magnesium, and sulfur for soil health and plant growth is fueling demand.
What are the key trends in the agricultural secondary nutrients market?
Adoption of backward integration by food companies, contract farming, and precision agriculture are driving market growth. Additionally, increasing awareness about the benefits of secondary nutrients among farmers is boosting demand.