Micronutrients are the essential elements that are used for the growth and regulation of the plant’s vital physiological activities. Agriculture micronutrient’ market growth has increased progressively because of increased global micronutrient deficiency in soil and shrinkage in the world’s agricultural land. The deficiency of micronutrients has increased worldwide due to intensive cropping pattern, extensive use of chemical fertilizers, mining of micronutrient reserves, and extensive irrigation facilities. Plant growth and development may be decelerated if any of these elements are lacking in the soil or are inadequately balanced with other nutrients. To replenish the crop’s micronutrients requirement, micronutrients are applied to crops. The agriculture micronutrients market has gained worldwide importance in the recent past due to its effectiveness on quality and productivity of crops.
In 2012, APAC was the largest market accounting for 53% of the total volume of the global market. Followed by APAC, North America accounted for 23% of the global market volume in 2012. The North American agriculture micronutrient market is estimated to show potential growth in the next five years. The largest global market is for zinc. Zinc had accounted for 36% of the total agriculture micronutrients market in 2012. The deficiency in micronutrients’ content results in stunted growth, withering of buds, yellowing of leaves, etc.
Cereal, fruit, and vegetable markets are the major consumers of agriculture micronutrients. With increased population, demand for cereals has also increased over the decade. To meet the global cereals demand, micronutrients are significantly applied to increase the cereals’ productivity. Soil, foliar, and fertigation are the three application modes of agriculture micronutrient. Soil application has the largest share in the global market. The micronutrient can be applied in chelated or non-chelated form. Non-chelated form has dominated the global market with 93% usage while chelated form has only 7% share.
The report provides complete analysis of the world’s leading players in the agriculture micronutrient industry, major micronutrients types and their forms, major application modes, and crop types, with a clear insight and commentary on the developments and trends. The market is anticipated to flourish in the next five years. With the huge market potential and growth, the market is likely to witness a significant change in the industry. Major demand in agriculture micronutrients market is anticipated to come from countries such as China, U.S., Canada, Indonesia, Poland, Italy, Brazil, India, etc. The growth was also attributed to the increasing demand for standard quality and productivity of agriculture produce. The report provides detailed analysis on the current phase of the industry and the competitive strategies adopted by the major players in the agriculture micronutrient industry.
Scope of the report
This report concentrates on the global agriculture micronutrients market. It classifies the global agriculture micronutrients market on the basis of types, application modes, forms, crop types, and geography.
On the basis of Types:
- Others (Chlorine, Nickel, Cobalt)
On the basis of Application Modes:
- Soil (direct)
- Others (Seed Treatment and Hydroponics)
On the basis of Forms:
On the basis of Crop Types:
- Oil seeds and pulses
- Fruits and vegetables
- Others (Floriculture, Plantation, etc.)
On the basis of Geography:
- North America
- Rest of the World (ROW)