U.S.: Micronutrients Shine in 2020
Science, education, and a positive ROI have micronutrient use increasing in markets around the world.
Bright spots in 2020 have been few are far between, writes Dan Jacobs at CropLife. Micronutrients have proven to be one of those rare happy moments.
According to MarketsandMarkets research, the global agricultural micronutrients market is estimated to be valued at $3.6 billion in 2020 and is projected to reach a value of $5.4 billion by 2025.
“While this is just a projection, it provides an idea of the market potential,” says Brad Griffith, Chief Commercial Officer at Compass Minerals. “Plant nutrition as a category has been underappreciated and underrepresented in terms of science and data supporting the efficacy of its products.”
2020 Expectations
Part of that growth may come from a change in attitude about the need for micronutrients.
“The industry is vibrant,” says Dale Edgington, Purchasing and Production Manager for Advanced Micronutrient Products and Chairperson of the Micronutrient Association, which is now part of The Fertilizer Institute. “What once was considered a luxury, is now considered a necessity.”
It’s a necessity that has The Andersons planning for continued growth in the segment.
“The micronutrient product category continues to show steady growth each year as growers learn more and more about how various micronutrients contribute to their overall success of growing a crop, says Tony Donoho, Director of Sales, Specialty Nutrients, for The Andersons.
Compass Minerals expects to see growth as well.
“I expect the market to be up significantly,” Griffith says. “With prevent plant taking out 19 million acres last year, soil and crops are now getting the nutrients they need. We also continue to experience a retailer and grower community that is quite educated on the overall benefit of micronutrients and the value they can bring. As part of that evolution, growers continue to be conservative about how new products fit on the farm, with proven technologies like zinc on corn being more broadly accepted than newer formulations that they have limited experience with.”
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