Global Sulfur Based Micronutrients Market Size To Worth USD 945.0 Million By 2033 | CAGR of 8.63%
Category: Chemicals & MaterialsGlobal Sulfur Based Micronutrients Market Size To Worth USD 945.0 Million By 2033
According to a research report published by Spherical Insights & Consulting, the Global Sulfur Based Micronutrients Market Size is Expected to Grow from USD 413.0 Million in 2023 to USD 945.0 Million by 2033, at a CAGR of 8.63% during the forecast period 2023-2033.
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Browse key industry insights spread across 234 pages with 103 Market data tables and figures & charts from the report on the "Global Sulfur Based Micronutrients Market Size, Share, and COVID-19 Impact Analysis, By Form (Solid, Liquid, and Granular), By Crop Type (Cereals, Legumes, Fruits & Vegetables, and Oilseeds), By Application (Agriculture, Horticulture, and Lawn & Garden), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/sulfur-based-micronutrients-market
The sulfur based micronutrients market is the industry for sulfur based products that are used to enhance soil fertility and crop output. Sulfur based micronutrients are essential macronutrient plant fertilizers containing sulfur which is required for chlorophyll synthesis, protein formation, and nitrogen metabolism. The adoption of controlled-release sulfur fertilizers, the use of organic sulfur sources, and the integration of sulfur-based micronutrients with other crop inputs are the several trends in the sulfur based micronutrients market. The demand for organic products and priority for organic agricultural practices are providing lucrative market growth opportunities. The increasing need for sulfur in fertilizers along with the surging demand for high-quality crops is driving the sulfur based micronutrients market. The shifting agriculture sector to more sustainable and efficient farming practices owing to the implementation of various initiatives is expected to propel the market growth for sulfur based micronutrients. On the contrary, the increased price of sulfur-based micronutrient products and lack of awareness about these fertilizers among farmers is hindering the market.
The solid segment dominated the market with the largest market share of over 55% in 2023 and is anticipated to witness significant CAGR growth during the projected timeframe.
Based on the form, the sulfur based micronutrients market is classified into solid, liquid, and granular. Among these, the solid segment dominated the market with the largest market share of over 55% in 2023 and is anticipated to witness significant CAGR growth during the projected timeframe. Because it is easier to handle, store, and transport, the solid form of sulphur-based micronutrients is chosen. Its excellent efficiency due to decreased soil leaching property is driving the market in the solid segment.
The cereals segment held the largest revenue share of the sulfur based micronutrients market in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the crop type, the sulfur based micronutrients market is classified into cereals, legumes, fruits & vegetables, and oilseeds. Among these, the cereals segment held the largest revenue share of the sulfur based micronutrients market in 2023 and is expected to grow at a significant CAGR during the forecast period. Sulfur deficits in cereals can have a detrimental effect on grain output and quality, these crop varieties are especially vulnerable to sulfur-based micronutrients, which are essential for enzyme function and protein synthesis.
The agriculture segment accounted for the largest share of the sulfur based micronutrients market in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the application, the sulfur based micronutrients market is classified into agriculture, horticulture, and lawn & garden. Among these, the agriculture segment accounted for the largest share of the sulfur based micronutrients market in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The increasing need for these nutrients in crop production for plant growth and development is driving the market in the agriculture segment as they help to improve the soil’s capacity to hold onto water and fertilize.
North America is estimated to hold the largest share of the sulfur based micronutrients market over the forecast period.
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North America is estimated to hold the largest share of the sulfur based micronutrients market over the forecast period. The increased awareness about health and focus on limiting sodium intake are contributing to propel the market growth. The presence of major agricultural producers in countries like the United States and Canada is responsible for driving the market demand for sulphur based micronutrients to enhance crop yield and quality.
Asia Pacific is predicted to grow at the fastest CAGR in the sulfur based micronutrients market over the forecast period. The improved access to agricultural inputs and technologies are bolstering the market growth for sulphur based micronutrients. The increased utilization of micronutrient fertilizers based on sulfur which is encouraged by the government programs supporting sustainable agriculture and increased soil fertility is driving the market.
Major key players in the global sulfur based micronutrients market include Yara International, K+S Aktiengesellschaft, Nutrien, CF Industries Holdings, Inc., Orica, Sinochem Corporation, Mosaic, BASF SE, IMC International, Bunge Limited, Tessenderlo Group, Koch Industries, EuroChem Group, Cargill Inc., Albaugh, LLC, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Developments
- In December 2023, Yara announced that it was acquiring the organic-based fertilizer business of Agribios Italiana, the company’s second bolt-on acquisition supporting its organic strategy in Europe. This signifies Yara’s commitment to further expand its offering in this sector as a complement to its mineral fertilizers to help promote regenerative agriculture and improve soil health.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the sulfur based micronutrients market based on the below-mentioned segments:
Global Sulfur Based Micronutrients Market, By Form
- Solid
- Liquid
- Granular
Global Sulfur Based Micronutrients Market, By Crop Type
- Cereals
- Legumes
- Fruits & Vegetables
- Oilseeds
Global Sulfur Based Micronutrients Market, By Application
- Agriculture
- Horticulture
- Lawn & Garden
Global Sulfur Based Micronutrients Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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