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Meticulous Research®—a leading global market research company, published a research report titled, ‘Agricultural Micronutrients Market by Type (Zinc, Iron, Copper, Molybdenum), Crop Type (Cereals and Grains, Fruits and Vegetables), Form (Non-chelated, Chelated), Mode of Application (Soil, Foliar, Fertigation, Seed Treatment) – Global Forecast to 2030.’

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According to this latest publication from Meticulous Research®, the agricultural micronutrients market is projected to reach $13.35 billion by 2030, at a CAGR of 8.4% from 2023 to 2030. The growth of this market is driven by the growing population and rising food insecurity, declining arable land, rising micronutrient deficiency in the soil, and positive outlook of government policies and various organizations encouraging the use of micronutrients. However, the lack of awareness among farmers restrains the growth of this market. Additionally, the sustainable sourcing of raw materials is a challenge for the growth of this market. The growing contract farming is expected to create growth opportunities for the players operating in this market. Additionally, the emergence of nanotechnology in micronutrient fertilization is a major trend in the global agricultural micronutrients market.

The global agricultural micronutrients market is segmented by type, crop type, form, mode of application, and geography.

Based on type, in 2023, the zinc segment is expected to account for the largest share of the global agricultural micronutrients market. The large market share of this segment is mainly driven by the rising awareness of the wide range of functions that zinc plays in plant growth and its deficiency in soils around the world, the rising need to tackle food security challenges, and the rising demand for zinc nutritious food products due to multiple health benefits. Moreover, the increasing government initiatives globally to enhance zinc concentrate in the soil to increase quantitative and qualitative crop yield further support the growth of this segment.

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Based on crop type, in 2023, the cereals & grains segment is expected to account for the largest share of the global agricultural micronutrients market. The large market share of this segment is attributed to the rising demand for food grains due to the growing population, increasing industrial application of cereals & grains, and huge production of staple crops such as wheat, maize, rice, and barley, which form the primary food source for a major population of the world.

Based on form, the chelated micronutrients segment is projected to record the higher CAGR during the forecast period due to its high stability over the non-chelated micronutrients, the growing need to increase micronutrient utilization efficiency, and the development and application of new generations of chelates.

Based on mode of application, in 2023, the soil treatment application segment is expected to account for the largest share of the global agricultural micronutrients market. Soil treatment is the most widely used application compared to other modes of application and is easy and cost-effective. Moreover, this segment is projected to register the highest CAGR during the forecast period. The growth of this market is driven by the rampant use of traditional agriculture methods in the current farming system, the presence of very limited resources, and the lower adoption of advanced fertilizer application methods.

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Based on geography, in 2023, Asia-Pacific accounted for the largest share of the global agricultural micronutrients market. The large market share of this segment is mainly attributed to the huge area under crop cultivation, growing population, increasing demand for high-quality food, and rising focus on agricultural micronutrients to improve crop productivity and crop yield in emerging economies like China and India. Additionally, the increasing agricultural practices and the necessity of high-quality agricultural produce are anticipated to further support the growth of this market. Moreover, this region is projected to register the highest CAGR during the forecast period due to the vast depletion of arable land, rising micronutrient deficiency in soil and a huge area of infertile soil, and the increasing government support for the fertilizer industry.

The key players operating in the global agricultural micronutrients market are AgroLiquid (U.S.), Aries Agro Limited (India), BASF SE (Germany), BMS Micro-Nutrients NV (Belgium), Coromandel International Limited (India), Haifa Group (Israel), Helena Agri-Enterprises, LLC (U.S.), Koch Industries, Inc. (U.S.), Nouryon (Netherlands), Nufarm Limited (Australia), Nutrien Ltd. (Canada), The Mosaic Company (U.S.), VALAGRO S.P.A (Part of Syngenta AG) (Italy), and Yara International ASA (Norway).

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Meticulous Research®—a leading global market research company, published a research report titled, ‘Plant-based Proteins Market by Type (Soy Proteins, Wheat Proteins, Pea Proteins, Potato Proteins), Form (Solid, Liquid), Source Process (Conventional, Organic), and Application (Food and Beverages, Animal Feed, Nutritional Supplements) – Global Forecast to 2031.’

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According to this latest publication from Meticulous Research®, the plant-based proteins market is projected to reach $26.45 billion by 2031, at a CAGR of 8.4% from 2024–2031. The growth of the plant-based proteins market is mainly driven by the rising need for protein-rich diets, growing health and wellness trends, increasing consumer focus on meat alternatives, rising demand from the food & beverage industry, and advancements in ingredient technologies, such as microencapsulation. However, the consumer preference for animal-based products and fluctuating raw material prices are expected to hinder the growth of this market.

Furthermore, consumers’ increasing inclination toward plant-based diets, emerging economies, and rising prevalence of intolerance to animal proteins are expected to generate growth opportunities for the players operating in the plant-based proteins market.

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Key Players

The key players operating in the global plant-based proteins market are Archer-Daniels-Midland Company (U.S.), Cargill, Incorporated (U.S.), Roquette Frères (France), Ingredion Incorporated (U.S.), Kerry Group plc (Ireland), International Flavors & Fragrances, Inc. (IFF) (U.S.), Now Health Group, Inc. (U.S.), Tate & Lyle Plc (U.K.), Axiom Foods Inc. (U.S.), AMCO Protein (U.S.), Burcon NutraScience Corporation (Canada), BENEO GmbH (A Part of Südzucker AG) (Germany), Glico Nutrition Co., Ltd (Japan), Glanbia Plc (Ireland), Cosucra Groupe Warcoing SA (Belgium), Sotexpro (France), Farbest-Tallman Foods Corporation (U.S.), Crespel & Deiters GmbH & Co. KG (Germany), Wilmar International (Singapore), and CHS Inc. (U.S.).

TOP 10 COMPANIES IN PLANT BASED PROTEIN MARKET >> https://meticulousblog.org/top-10-companies-in-plant-based-protein-market/?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=27-03-2024

The global plant-based proteins market is segmented by type, form, source process, application, and geography.

Based on type, the global plant-based proteins market is segmented into soy proteins, wheat proteins, pea proteins, canola proteins, potato proteins, rice proteins, corn proteins, and other types. In 2024, the soy proteins segment is expected to account for the largest share of the global plant-based proteins market. The large market share of this segment is mainly attributed to its easy availability, lower price of soy protein than other protein sources, increased demand for meat protein alternatives, a wide range of applications in various products, greater consumer awareness, and multiple health benefits.

Based on form, the global plant-based proteins market is categorized into solid (dry) and liquid. In 2024, the solid segment is expected to account for the larger share of the global plant-based proteins market. The large market share of this segment is attributed to the increasing demand for powdered plant-based protein due to its benefits, such as ease of handling and transport, comparatively lower costs, low chances of formulation errors, and ingredient stability. This segment is also expected to register the highest CAGR during the forecast period.

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Based on source process, the global plant-based proteins market is broadly segmented into conventional plant-based protein ingredients and organic plant-based protein ingredients. In 2024, the conventional plant-based protein ingredients segment is expected to account for the larger share of the global plant-based proteins market. The large market share of this segment is attributed to the widespread availability of crops cultivated through traditional harvesting methods (utilizing chemical fertilizers), the easy accessibility to cost-effective conventional plant-based protein ingredients, the extended shelf life of these proteins, and the availability of a diverse range of crop varieties.

Based on application, the global plant-based proteins market is segmented into food & beverage, animal feed, nutrition & health supplements, pharmaceuticals, and other applications. In 2024, the food & beverage segment is expected to account for the largest share of the global plant-based proteins market. The large market share of this segment is mainly attributed to increasing consumer preference for plant-based foods and ingredients, growing awareness and demand for protein-rich food products, plant-based proteins' versatile functionality and compatibility with vegetarian and vegan lifestyles, and the rising clean-label trend.

Based on region, the global plant-based proteins market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, North America is expected to account for the largest share of the global plant-based proteins market. The leading position of this region is primarily attributed to the well-established food and beverage industry, rising concerns over animal products and protein, increasing vegan population, growing preference for meat alternatives, and increasing demand for healthy & nutritional products and health & wellness trends.

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Related Report:

The Asia-Pacific Plant-Based Protein Market is expected to reach $7.27 billion by 2030, at a CAGR of 12% during the forecast period of 2023 to 2030. >> https://www.meticulousresearch.com/product/asia-pacific-plant-based-protein-market-5666?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=27-03-2024

The North America Plant-based Protein Market is expected to reach $11.32 billion by 2030, at a CAGR of 9.7% during the forecast period of 2023 to 2030.>> https://www.meticulousresearch.com/product/north-america-plant-based-protein-market-5637?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=27-03-2024

The Europe Plant-based Protein Market is expected to reach $7.83 billion by 2030, at a CAGR of 8.9% during the forecast period of 2023 to 2030.>> https://www.meticulousresearch.com/product/europe-plant-based-protein-market-5608?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=27-03-2024

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