North America Boron Fertilizers Market
The North American region constitutes developed economies such as the US and Canada, as well as Mexico as a developing nation. North America is one of the largest producers and consumers of fertilizer than any country in the world. North America is also one of the largest importers of fertilizers in the world. Boron (B) is a micronutrient that is important for crop growth and health. Boron is not needed in large quantities by plants, but it can cause serious growth problems if not supplied at adequate levels. Boron deficiency differs from other micronutrients in that it does not cause chlorosis; however, it does cause toxicity symptoms like other micronutrients. Further, boron, zinc, manganese, and iron are among the most supplied micronutrients by fertilization in North America's major crop production areas. Also, growing awareness regarding the importance of boron in maintaining soil profile and nutritional balance is the major factor driving the growth of the North America boron fertilizers market.
The US has the highest number of confirmed cases of COVID-19, as compared to Mexico and Canada. This is likely to impact the fertilizer manufacturing industry in the region as, due to the COVID-19, the overall manufacturing processes, research, and development activities and the supply chain is likely to get affected. In addition, COVID-19 has impacted several industries including agriculture industry negatively in the US. All these industries are highly dependent on agricultural sector and thus generate a huge demand for fertilizers both macro and micronutrients.
Strategic insights for the North America Boron Fertilizers provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 491.78 Million |
| Market Size by 2028 | US$ 846.81 Million |
| Global CAGR (2021 - 2028) | 8.1% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Source
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Boron Fertilizers refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The boron fertilizers market in North America, is expected to reach US$ 846.81 million by 2028 from US$ 491.78 million in 2021. The market is estimated to grow at a CAGR of 8.1% from 2021 to 2028. The North America exotic fruits & vegetable market is set to experience growth owing to an upsurge in disposable income, rising middle-class population, changing consumer lifestyles, rapid urbanization, and rise in veganism. The significant trends observed in this market include increased demand for exotic fruits, technological advancements, increased branding, and the advent of online grocery shopping. With the increasing obesity cases in major countries and awareness regarding healthy food diet, consumers are gradually moving toward healthy foods over the past decade. Trendy diets such as the raw food diet and paleo diet underline the health benefits of exotic vegetables and fruits.
The North America boron fertilizers market is segmented into source, application and country. Based on source, the North America boron fertilizers market is segmented into boric acid, borax, and others. The borax segment dominated the market in 2020 and boric acid segment is expected to be the fastest growing during the forecast period. By application, the boron fertilizers market is segmented into oilseed and pulses, fruits and vegetables, cereals and grains, and others. The fruits and vegetables segment dominated the North America boron fertilizers market in terms of value in 2020 and is expected to register the highest CAGR during the forecast period 2021–2028.
A few major primary and secondary sources referred to for preparing this report on the boron fertilizers market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Eti Maden; MCC Russian Bor; Minera Santa Rita S.R.L; ORO AGRI Europe; Quimical Tierra; Rose Mill Co.; The Mosaic Company; Valagro S.P.A.; and Yara
The North America Boron Fertilizers Market is valued at US$ 491.78 Million in 2021, it is projected to reach US$ 846.81 Million by 2028.
As per our report North America Boron Fertilizers Market, the market size is valued at US$ 491.78 Million in 2021, projecting it to reach US$ 846.81 Million by 2028. This translates to a CAGR of approximately 8.1% during the forecast period.
The North America Boron Fertilizers Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Boron Fertilizers Market report:
The North America Boron Fertilizers Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Boron Fertilizers Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Boron Fertilizers Market value chain can benefit from the information contained in a comprehensive market report.
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