Global Selenium-Rich Agricultural Products Market size is estimated to reach $345.6 million by 2027, growing at a CAGR of 3.8% during the forecast period 2022-2027. Growing health consciousness among people, rising disposable income, ameliorating retail network, and noteworthy marketing strategies adopted by market players are factors set to drive the growth of the Global Selenium-rich Agricultural Products Market for the period 2022-2027. Selenium is one of those trace elements that play a vital role in extending protection against cancer, heart ailments, asthma, and infertility. Therefore, the growing prevalence of such health problems is the biggest driver driving the global selenium-rich agricultural products market. The Selenium-rich Agricultural Products Market report by IndustryARC covers complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
Competitive Landscape :
The top 5 players in the Selenium-Rich Agricultural Products Industry are –
1. Redmond Agriculture
2. Coopers Specialty Feeds
4. Zinpro Corporation
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Segmental Analysis :
1. The Global Selenium-rich Agricultural Products Market based on the applications can be further segmented into human-centric and animal-centric. The human-centric segment held the largest share in 2021. The growth is owing to growing proactiveness among people regarding their health.
2. The online segment is estimated to be the fastest-growing with a CAGR of 5.4% over the forecast period 2022-2027. This growth is owing to a growing inclination toward e-commerce purchases because of pandemic restrictions, increasing trends of work from home, digitalization, 24/7 availability, time-saving nature, the convenience of same-day delivery, and the rising number of smartphone users.
3. The Global Selenium-rich Agricultural Products Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share with 38% of the overall market in 2021.
Grains, Cereals, Fruits, and Vegetables.
Human-Centric and Animal Centric.
By Distribution Channel
Offline and Online.
North America, Europe, Asia-Pacific, South America and Rest of World
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Market Drivers and Challenges :
1. Selenium is one of those trace elements that play a vital role in extending protection against cancer, heart ailments, asthma, and infertility.
2. However, as net exports of these countries are increasing at a relentless pace, their GDP per capita incomes are improving drastically. With growing GDP per capita, the overall living standards of people are augmenting and they are enlarging the demand for nutritious products.
3. According to a report, in the US the annual inflation rate hit three decades high in October 2021 and reached 6.2 percent. In addition to that, in February 2022, the consumer price index inflation touched 6.07 percent in India, the figure is the highest in the last 8 months.
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