Essential Micronutrients Market Forecast, Trend Analysis & Competition Tracking - Global Review 2021 to 2031

Status : Ongoing | Report Code : FACT668MR

The global demand for essential micronutrients experienced a slight fall in 2020 as a result of stringent regulations imposed in the lockdown due to the spread of corona virus disease all over the world. Major manufacturing companies operating in this market experienced a temporary brake in their production and sales leading to heavy losses. Since the beginning of 2021, the demand has started rising on a good note resulting in accelerating the global sales of essential micronutrients. Manufacturers in 2021 are investing in R&Ds to ensure continuous supply of improved varieties to their users.

Recognized corporations including BASF SE, AkzoNobel Corporation, Helena Chemical Company, Yara International Corporation, The Mosaic Company, Compass Minerals Internationa Corporation, Zuari Agrochemicals Limited, Valagro Corporation, Stoller Enterprizes Incorporation, ATP Nutrition and Corteva Incorporation are concentrating on improving their global presence as well as market share through the adoption of strategies like geographical expansions, collaborations, joint ventures, partnership agreements, sales contracts, diversifications, innovative launches, acquisitions, research and developments, technological upliftments, e-selling, product line extensions, hiring technical expertise etc. These companies have started investing in latest IT infrastructure to achieve competitive advantage over their rival firms.

What are Key Essential Micronutrient Players Doing?

For instance, Mosaic Corporation collaborated with BioConsortia on new nitrogen-fixing microbial plants on 9th December, 2020. These two corporations collaborated to develop and launch nitrogen fixing microbial products for improving agricultural efficiency. Their established expertise and market access in the field of fertilizers and crop nutrition is believed to act as a perfect route to market for ground breaking nitrogen-fixing microbial products.

The collaboration is based on the aim of development of microbial products designed to reduce the amount of conventional nitrogen fertilizer application, while increasing crop yields and revenue. The strategic partnership between BioConsotia and The Mosaic is focusing on developing yield enhancing in-furrowand seed treatment products that can be used either standalone or in combination with conventional chemistries and fertilizers.

With targeted traditional and cutting edge strain improvement and gene editing technologies, these two corporations will develop together natural and improved strain microbial products that will help to increase crop yields and maintaining or reducing N fertilizer inputs.The collaboration has a comprehensive development and field trial phase followed by a distribution agreement for row crops in the Americas. The collaboration has proved successful for the companies as in 2021, they are delivering products with superior effectiveness, at lower costs and higher yields creating higher demands from across the world.

In addition to that, Compass Minerals Corporation announced the launch of Rocket Seeds ‘Moly Shine’, a unique seed finisher with the added benefit of micronutrients on 9th December, 2019. Moly Shine will be ideally suited for soybeans and legumes marks the most recent innovation to the Rocket Seeds product line. It is a portfolio of dry and liquid seed nutrition  with patent-pending products.

As a seed finisher, Moly Shine will not only acts as a seed drying source but also improves lubrication and flowability. The addition of patent-pending micronutrient products to the finisher offers a multitude of benefits not found with other seed treatment of finishers. The addition of molebdenum will promote early season nitrogen uptake and nitrogen use efficiency. With improved efficiency, plants also build deeper, more established root systems.

MolyShine can be applied at the retailer, adding convenience and value for the growers. At the nearly same price, growers will receive the added value of micronutrients delivered directly on the seed before it gets to the farm. Rocket Seeds Moly Shine are ensuring availability of high quality nutrients for every plant, at every crop stage across every acre.

Global Essential Micronutrients Market: Snapshot

Micronutrients including vitamins and micro-minerals such as cobalt, iron, copper, chromium, manganese, iodine, zinc, selenium are not required by the body in volumes but are rare enough to be missed on a regular and minute quantity and leads to various disorders. The sheer essentiality of micronutrients, particularly among the geriatrics, has emerged as a field of healthcare that are now gaining awareness on the back of incrementing percentage of elderly people across the world.

According to the German Research Center for Environmental Health, nearly half of individuals over 65 years of age show symptoms of lowered levels of vitamin D in the blood whereas more than one in four of these geriatrics suffer from the deficiency of vitamin B12.

The research study had examined more than a thousand blood samples extracted from people aged between the range of 65 years to 93 years and focused on the levels of micronutrients including iron, Vitamin B12, and Vitamin D. The researchers have strongly recommended periodic checks to refrain from diseases. Consequently, the supply-demand of essential micronutrients is expected to flourish in the near future, with the demand incrementing at a formidable CAGR during the forecast period of 2018 to 2027.

Fact.MR has developed this exclusive forecast study to estimate the evolution of global essential micronutrients market for the period, 2018-2027. This report assesses a range of factors and business aspects encompassing the production and sales of essential micronutrients for the near future. A key advantage of availing this report is the provision of assessment on key trends that will influence the future of global essential nutrients market.

Opportunity in Agriculture for Improving Productivity

Arable land depletion has recorded a significant pace on the back of intensive cropping, extensive chemical abuse on soil, robust mining of micronutrient reserves. Micronutrients are witnessing a surge in adoption in agricultural sector, as an effective means to enhance productivity and cater growing food demand. Rapid population growth, particularly in developing nations such as India and China has led the governments in these countries to develop new policies apropos food productivity acceleration.

Opportunities for improving productivity lie in the development and application of fertilizers enriched with lacking micronutrients, which in turn concurrently increases efficiency of fertilizers, thereby stimulating its uptake. This further helps in raising farm income through increased productivity, meanwhile slowing down the unabated current expansion of agriculture into natural ecosystems.

Policies toward Key Nutrient Supply to Infants & Toddlers to Influence Expansion

Proper nutrition during first 3 years of an infant’s life is critical for lifelong maintenance of mental health and development. Adequate amount of micronutrients such as certain fats and proteins during the prenatal period can help avoid possibilities of permanent defects in the brain function. The American Academy of Pediatrics (AAP) has noted key brain-developing micronutrients, such as zinc, iron, choline, and essential fatty acids, which are particularly imperative for babies from conception through their 2-3 years of age.

A policy statement published by AAP in “Pediatrics” sets a course for ensuring pregnant women, toddlers, and infants get correct nutrient supply for healthy brain development. This statement dictates pediatricians in moving beyond recommendations of “good diet” toward ensuring pregnant women and infants have access to food having adequate amount of brain-developing nutrients. Such government healthcare policies will significantly rub off on demand for essential micronutrients in the near future.

Robust Investments in Micronutrient Plants to Augur Well for the Market Growth

Leading essential micronutrients companies are making strategic investments for supporting their customers in food and agriculture sectors, and strengthening their leadership in the market. Such investments also underline their commitment to sustainability, and initiatives toward propelling agricultural yields, particularly in regions having poor soil conditions.

Akzo Nobel, in 2017, announced its plans of investing over 10 Mn in Sweden for expanding capacity of its chelated micronutrients, which seek extensive adoption as essential ingredients in agriculture. This project, located at Kvarntorp, caters to surging demand for micronutrients. The expansion primarily involves capacity addition for the high-performance iron chelates, which considerably helps in enhancing the agricultural productivity.

As insufficient iron intake leads to anemia, increases mortality in women & children, and retards brain development, proper supply of iron through food has become an imperative concern among the healthcare systems. As a response to this concern, researchers from the Laboratory of Biotechnology, ETH Zurich, have developed new type of genetically-modified (GM) rice, which contains multiple micronutrients, banking on the fact that rice is a key staple diet of a large population base globally.

Researchers have made improvements in the “Golden Rice”, a GM rice, which is now being employed in breeding programs across several countries such as Southeast Asian nations. The research results have further demonstrated successful combination of several essential micronutrients, such as beta carotene, zinc, and iron, in single rice plant to provide healthy nutrition.

Multidisciplinary research methodologies have been adopted to create an all-embracive analysis of key market data. Multiple parameters have been employed to generate valuable datapoints on the evolving value chain of essential micronutrients. The report has also revealed the current market standings of these players, revealing accurate information on market positioning and competitor analysis. Inferences from the report are aimed to extend the understanding of essential micronutrients manufacturers towards the future of the market.

This analytical research study imparts an all-inclusive assessment on the market, while propounding historical intelligence, actionable insights, and industry-validated & statistically-upheld market forecast. Verified and suitable set of assumptions and methodology has been leveraged for developing this comprehensive study. Information and analysis on key market segments incorporated in the report has been delivered in weighted chapters. A thorough analysis has been offered by the report on

  • Market Dynamics
  • Market Size
  • Market Segments
  • Demand & Supply Trends
  • Current Issues and Challenges
  • Companies and Competitor Landscape
  • Value Chain
  • Technology

Regional Segments Analyzed Include

  • North America (U.S., Canada)
  • Latin America (Mexico. Brazil)
  • Western Europe (Germany, Italy, France, U.K, Spain)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, ASEAN, Australia & New Zealand)
  • Japan
  • Middle East and Africa (GCC, S. Africa, N. Africa)

Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.

Highlights from the Report

  • Elaborated scenario of the parent market
  • Transformations in the market dynamics
  • Detailed segmentation of the target market
  • Historical, current and forecast market size based on value and volume
  • Latest industry developments and trends
  • Competition landscape
  • Strategies adopted by the market players and product developments made
  • Potential and niche segments, along with their regional analysis
  • Unbiased analysis on performance of the market
  • Up-to-date and must-have intelligence for the market players to enhance and sustain their competitiveness

NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.

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Essential Micronutrients Market Forecast, Trend Analysis & Competition Tracking - Global Review 2021 to 2031