Market Size of south america micronutrient fertilizer Industry
| Icons | Lable | Value |
|---|---|---|
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Study Period | 2016 - 2030 |
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Market Size (2024) | USD 492.82 Million |
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Market Size (2030) | USD 690.22 Million |
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Largest Share by Product | Iron |
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CAGR (2024 - 2030) | 5.78 % |
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Largest Share by Country | Brazil |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
South America Micronutrient Fertilizer Market Analysis
The South America Micronutrient Fertilizer Market size is estimated at USD 492.82 million in 2024, and is expected to reach USD 690.22 million by 2030, growing at a CAGR of 5.78% during the forecast period (2024-2030).
- Largest Segment by Type - Iron : The alkaline soils with high pH and degrading health and quality of soils are making them deficient in Iron thus increasing the demand for high-yield crop production.
- Fastest growing segment by Type - Manganese : Manganese is little mobile in plants and can not remobilize from older leaves to manganese deficient young leaves and must be supplied externally using fertilizers.
- Largest Segment by Crop Type - Field Crops : The domination of field crops in South America Fertilizers market is mainly due to its large cultivation area in the region. They account for more than 95% of total crop area.
- Largest segment by Country - Brazil : The availability of expandable acreage which has increased by about 18% since 2017, the rising demand, and increasing government subsidies have led to Brazil's high share.
