Agricultural Micronutrients Market Scope, Key Growth Drivers, Challenges, Demand And Upcoming Trend By Forecast To 2027
Agricultural micronutrients are useful for the growth of plants and a play significant role in balanced crop nutrition. These include zinc, manganese, nickel, boron, copper, molybdenum, and chloride. Lack of any one of these micronutrients in the soil can hamper plant growth, despite sufficient nutrients are present in sufficient amounts.
Soil application dominated the global agricultural micronutrients market, owing to their most common use, requires less labor, and time. Moreover, micronutrients directly come in contact with the roots when applied to soil, thus they are highly effective, resulting in high productivity and yield. Foliar is expected to boost growth of the global agricultural micronutrients market over the forecast period, owing to various advantages offered by foliar sprays, such as easy and uniform application, low cost of application as compared to soil application, and immediate response to nutrient applied, thus correcting the deficiencies during the growing season.
Top Key Players in Agricultural Micronutrients market: The, Dow, Chemical, Company, BASF, SE, The, Mosaic, Company, Akzo, Nobel, N.V., Yara, International, ASA, The, Potash, Corporation, Land, O’Lakes, Inc., Marubeni, Corporation, and, Nufarm, Limited
Regional Analysis For Agricultural Micronutrients Market:
Besides segmental breakdown, the report is highly structured into region wise study. The regional analysis comprehensively done by the researchers highlights key regions and their dominating countries accounting for substantial revenue share in the Agricultural Micronutrients market. The study helps understanding how the market will fare in the respective region, while also mentioning the emerging regions growing with a significant CAGR. The following are the regions covered in this report.
- North America [U.S., Canada, Mexico]
- Europe [Germany, UK, France, Italy, Rest of Europe]
- Asia-Pacific [China, India, Japan, South Korea, Southeast Asia, Australia, Rest of Asia Pacific]
- South America [Brazil, Argentina, Rest of Latin America]
- Middle East & Africa [GCC, North Africa, South Africa, Rest of Middle East and Africa]
Market Taxonomy
Global Agricultural Micronutrients Market is segmented into:
By Crop Type
- Cereals
- Pulses and Oilseeds
- Fruits and Vegetables
- Others (Plantation, Permanent Crops, and Floriculture.)
By Product Type
- Copper
- Zinc
- Boron
- Iron
- Molybdenum
- Manganese
- Others (Nickel and Chloride)
By Application
- Foliar
- Fertigation
- Seed Treatment
- Soil
- Others (hydroponics)
Agricultural Micronutrients Market Outlook
- Asia Pacific held a dominant position the global agricultural micronutrients market in 2017. Growing awareness regarding the benefits of micronutrients among the growers is driving growth of the agricultural micronutrients market in India. Also, according to The National Informatics Centre (NIC), India ranks second in agricultural production in the world and is a leading producer of various agricultural commodities, further boosting growth of the agricultural micronutrients market in the country and thereby, in Asia Pacific. Moreover, in 2017, the Indian biofuels industry aimed to invest US$ 2.25 billion in the upcoming projects over the next years to increase the industry’s value to US$ 7.5 billion by 2022.
- North America held a significant market share in the global agricultural micronutrients market in 2017, with U.S. being the major contributor to the market growth in 2017. This is owing to rise in demand for quality food products and adoption of newer technologies for improving yield. For instance, in 2017 SUL4R-Plus LLC, a provider of innovative fertilizer products for agricultural market, introduced SUL4R-Plus B+Z fertilizer with zinc, boron, sulfur, and calcium.
