Sulfur Based Micronutrients Market worth $685 million by 2029 Globally, at a CAGR of 8.8 %, says MarketsandMarkets™

/EIN News/ -- Chicago, June 25, 2024 (GLOBE NEWSWIRE) -- The Global Sulfur Based Micronutrients Market is projected to grow from USD 449 million in 2024 to USD 685 million by 2029, at a CAGR of 8.8% from 2024 to 2029, as per the recent study by MarketsandMarkets™. Various factors have been contributing to the growth of sulfur-based micronutrients market. First off, because sulfur is necessary for plant growth and development, there is a growing market for products containing sulfur to compensate for shortages in soil. Second, to sustain crop productivity, modern agricultural practices frequently deplete soils of sulfur, requiring supplementation. Furthermore, the market is further stimulated by the growth of organic farming and sustainable agricultural methods since sulfur-based micronutrients provide environmentally favorable nutrient supplementation options.

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Browse In-Depth TOC On "Sulfur Based Micronutrients Market”

156 - Market Data Tables
52 - Figures
211 - Pages

List of Key Players in Sulfur Based Micronutrients Market:

1. Yara International (Norway)
2. Nutrien Ltd. (Canada)
3. The Mosaic Company (US)
4. ICL (Israel)
5. K+S Aktiengesellschaft (Germany)
6. SQM S.A. (Chille)
7. Coromandel International Limited (India)
8. Nufarm (Australia)
9. Aries Agro Limited (India)
10. DFPCL (India)

Drivers, Restraints, Opportunities and Challenges in Sulfur Based Micronutrients Market:

1. Drivers: Growing demand for high quality crops and rising demand of sulfur in fertilizers.
2. Restraints: Poor awareness among the developing regions regarding the benefits of micronutrients.
3. Opportunity: Rising demand for organic products.
4. Challenges: Seasonal demand and competition from substitutes.

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Key Findings of the Study:

1. Fruits & vegetables, by application, is estimated to account for the highest CAGR during the forecast period.
2. Sulfur-bentonite-zinc and sulfur-bentonite-boron, by type, are estimated to account for the highest CAGR during the forecast period.
3. Asia Pacific is estimated to account for the highest CAGR during the forecast period

Sulfur-bentonite in sulfur-based micronutrients market is accounted for the largest segment in terms of value. This dominance is attributed to several key advantages of sulfur-bentonite micronutrients. This blend of sulfur-based micronutrients provides a concentrated amount of sulfur, which is essential for plant health and productivity, first. Second, bentonite serves as a transporter, enhancing sulfur's gradual release and enhancing crops' ability to absorb nutrients. Sulfur bentonite is an effective and long-lasting option for farmers because of its focused delivery, especially in the highly competitive oilseed market.

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According to the type of sulfur-based micronutrients, the sulfur-bentonite based micronutrients segment accounted for the largest share during 2024 to 2029. Blends of sulfur and bentonite micronutrients give plants the necessary sulfur in an easily absorbed form. The clay mineral bentonite serves as a transporter, improving soil conditioning and nutrient uptake. This mixture mitigates sulfur deficit while enhancing crop output and quality, especially in soils with low sulfur content. When used as granules, it provides agricultural systems with effective and long-lasting nutrient replenishment.

Based on application, the fruits & vegetables segment accounted for the largest share, in terms of value, of the overall sulfur-based micronutrients market during the forecast period. The steadily rising awareness levels regarding sulfur-based micronutrient fertilizers and other crop solutions have been major factors. Sulfur and sulfur-based formulations are increasingly being used to treat soil deficiencies and to enhance nutrient levels to obtain larger yields and better-quality crops. Sulfur based micronutrients are also used to treat soil structure and are used to enhance protein synthesis, enzyme activation, and chlorophyll formation. These factors have therefore resulted in a significant growth in the demand for sulfur-based crop products and solutions.

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