Micronutrients
are the vital elements for plants necessarily in small quantities.
Micronutrients are the basic input in agriculture to get better the quality &
yield of agriculture products. Most frequently used agriculture micronutrients
include Zinc, Boron, Copper, Iron, Molybdenum, Manganese, Nickel and among
others. It performs a different function for the development & growth of
plant and necessary less than a pound per acre. Owing to lack of these
micronutrients, critical tasks of the plant are limited & result in the
plant abnormalities, reduced growth of plant and lower yield.
According to
study, “Global Agricultural
Micronutrients Market Size Study, by Type (Zinc, Boron, Copper, Manganese,
Molybdenum, and Iron), by Mode of Application (Soil, Foliar, and Fertigation),
by Form (Chelated and Non-Chelated), by Crop Type, and Regional Forecasts,
2017-2025 (USD Billion/Million)” some of the other major companies currently working in the
global agriculture micronutrients market are Aries Agro Ltd., Dow Chemical Co.,
BASF SE, Land OLakes, Haifa Chemicals, Western Nutrients Corporation, AkzoNobel
N.V, Baicor L.C., The Mosaic Co., Zuari Agro Chemicals, Agrium Inc., Sigma-Aldrich
Corporation, Auriga Industries A/S, Yara international ASA, Sumitomo Chemical
Co., Ltd., Sapec S.A., E. I. Dupont DE Nemours & Company, Brandt
Consolidated Inc., FMC Corporation, Valagro, Coromandel International, Bayer
CropScience, Helena Chemical Co., Wolf Trax Inc., Nutrien Ltd., Chambal
Fertilisers and Chemicals Ltd., Compass Minerals International Inc., Nufarm.
Based on the
type, the global agriculture micronutrients market is segmented into copper,
molybdenum, zinc, manganese, boron, iron, magnesium, chloride and nickel. Based
on form, market is segmented into chelated & non-chelated. Chelated segment
is further sub-categorized into Ethylenediamine Di-2-Hydroxyphenyl Acetate
(EDDHA), HydroxybenzylEthylenediamineDiacetic Acid (HBED), DiethyleneTriaminePentaacetic
Acid (DTPA), Ethylenediaminetetraacetic Acid (EDTA), and D,L-Aspartic Acid
N-(1,2-Dicarboxyethyl) Tetrasodium Salt (IDHA). Based on crop type, market is
segmented into oil seeds & pulses, cereal & grain, fruits &
vegetables and others (cotton, sugarcane, rubber, coconut, tea and coffee). Based
on mode of application, market is segmented into fertigation, hydroponics, seed
treatment, foliar and soil.
The global
agriculture micronutrients isdriven by escalating production of biofuel crops, increasing
deficiency of micronutrients in the soil, growing worldwide population rise in the
demand for food products, food security and changing diets, rising need for
agriculture micronutrients worldwide, and increased tendency for contract
farming. Apart from benefits, some of the other restraints include availability
of cheap alternatives & counterfeit products with rising need of
sustainable sourcing of raw materials and lack of awareness leading appropriate
dosage of micronutrients among farmers. In addition, increase in use of new
methods of farming adds to a key opportunity of the market. Furthermore, some other
key trends are consolidation of farmlands, increase in horticulture, and
intensification of agricultural crops.
Asia Pacific
region held the key market share in terms of requirement of micronutrients. The
North American region is expected to remain the second-major market, followed
by European region. Increase in demand for food, micronutrient-deficient soils
and depleting arable land in regions like Northern Africa, Brazil, Indian
subcontinent, Southern U.S., China, and Nordic countries are expected to drive
the demand for micronutrients in the upcoming years. The global agriculture
micronutrients market is expected to grow at a CAGR of approximately 8.9% over
the next decade to attain around US $15.5 billion, by 2025.
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Ken Research
Ankur Gupta, Head Marketing & Communications
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+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
