Market Trends of middle east & africa micronutrient fertilizer Industry
This section covers the major market trends shaping the MEA Micronutrient Fertilizer Market according to our research experts:
Zinc is the largest segment by Product.
- The overall micronutrient market in the region is estimated to grow, registering a CAGR of 4.7% during the forecast period. Micronutrient deficiency is widespread across the region, with iron and zinc deficiencies becoming a rising concern for plant health. This results in an increasing demand for micronutrient fertilizers to promote plant growth.
- Iron and zinc dominated the market with 49% and 21% of the market value in 2021, respectively. Soil deficiencies of the micronutrients that are essential for plant growth can lead to lower crop yields. During the past decade, soil micronutrient deficiencies have been noticed primarily for iron and zinc and, to a lesser extent, boron (9%) and manganese(12%).
- Micronutrient deficiencies are frequently observed in intensively-grown cereals, oilseeds, pulses, and vegetable crops in the region. Hence, in order to obtain quality products and better yields, farmers tend to adopt the use of micronutrients in their crops, such as field crops, which was the largest market for micronutrients in 2021, accounting for 88.0% of the market value.
- The increasing micronutrient deficiency in the soil seems to be one of the major factors causing a decline in yields. The African soils are also deficient in secondary and micronutrients, such as sulfur, zinc, boron, and copper. Supplying these nutrients through balanced fertilizers helps to boost yields intensely while sustaining the soil, which is anticipated to drive the market during the forecast period.
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Nigeria is the largest segment by Country.
- The Middle East & African micronutrient fertilizer market accounts for about 2.5% of the global micronutrient fertilizer market, valued at about 997.5 million USD in 2021. Despite water scarcity and higher temperatures, many countries in the region are dependent on agriculture. Nigeria, Saudi Arabia, and Egypt are some of the major agricultural producers in the region.
- Nigeria is the largest agricultural producer in the region. According to FAO, Nigeria had 70.8 million hectares of agricultural land area, with maize, cassava, guinea corn, yam beans, millet, and rice being the major crops in 2019. Nigeria accounted for 44.46% of the Middle East & African micronutrient fertilizers market in 2021.
- The Rest of Middle East & Africa segment is one of the largest markets for micronutrient fertilizers in the region. It accounted for about 50.32% of the micronutrient fertilizer market value in the region, valued at about USD 501.94 million in 2021. The major agricultural producers in the Rest of Middle East & Africa are Egypt, Algeria, Morocco, and Iraq.
- Among micronutrient fertilizers, zinc is the mostly applied micronutrient throughout the region, as zinc deficiency is a severe problem in the region, particularly in countries like Turkey, Nigeria, and Saudi Arabia. Zinc alone accounts for about 49% of the total micronutrient fertilizer market value, valued at about USD 492.43 million in 2021.
- The deficiency of micronutrients in the overall agriculture area drives the micronutrient fertilizer market in the region.
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