Micronutrients such as copper, iron, zinc, and boron, are considered as essential elements for plant growth and play an important role in balanced crop nutrition. They are essential for plant nutrition along with primary and secondary macronutrients such as nitrogen, phosphorous, potassium, and others. Plants require these in minute quantities However, deficiency of any one of the micronutrients in soil can limit the growth of plants, even after presence of adequate amounts of all the other nutrients. Unavailability of micronutrients inhibit the critical functions of crops that can lead to abnormality, slow growth, and reduced yield. The requirement of effective fertilizers because of poor soil quality acts as a major driver for the crop micronutrients market. In addition, increase in demand for biofuels due to depleting conventional fuels reserves fuels the growth of the crop micronutrients market.
Increase in population and rise in economy of the developing countries have fueled the consumption of food. In addition, agricultural land is lost after it is being converted for other purposes, such as highways, housing, and factories. Hence, it is important to maintain the nutrient level in crops & soil to enhance the productivity and growth of crops. To produce enough food for population across the globe with available cultivable land, farmers are incorporating micronutrients with other essential ingredients for agriculture in the form of fertilizers. Chemical fertilizers that consist of micronutrients protect crops from insects as well as UV radiation, and offer increased yield. Moreover, the lack of micronutrients can lead to various diseases in plants such as chlorosis, yellowing of leaves, gummosis, and others, which reduce quality and quantity of plants. Use of micronutrients for various crops such as cereals & grains, fruits & vegetables, pulses, and oilseeds through various application such as fertigation, soil, foliar, seed treatment and others are expected to boost plant immunity, thereby driving the crop micronutrients market.
Factors such as the appeal for quality and uniform crop yield due to the population expansion across the globe and decrease in cultivable land fuel the demand for agricultural micronutrients. However, mining of micronutrient reserves, lack of awareness among farmers in developing countries regarding dosage and proper application of micronutrients are expected to restrain the growth of the global crop micronutrients market during the forecast period. Furthermore, the adoption of new methods of farming for improving productivity will be providing lucrative opportunities for micronutrient fortified products.
The report on the global crop micronutrients market is segmented based on form, product type, crop type, application, and geography. Based on form the global crop micronutrients market is bifurcated into chelated and non-chelated micronutrients. According to product type, the crop micronutrient market is segmented into boron, copper, iron, manganese, molybdenum, zinc, and others. Based on crop type it is classified into cereals & grains, fruits & vegetables, pulses & oilseeds, and others. By application, the report is segmented into fertigation, soil, foliar, seed treatment, and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Top market players in the global market include Akzo Nobel N.V., Aries Agro Ltd., Baicor, L.C., BASF SE., Compass Minerals International, Inc., DowDuPont Inc., The Mosaic Company, Nutrien Ltd., Western Nutrients Corporation, and Yara International.
KEY BENEFITS FOR STAKEHOLDERS
The study provides an in-depth analysis of the crop micronutrients market with current trends and future estimations to elucidate the investment pockets.
Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplierâ€Âbuyer network
A comprehensive analysis of factors that drive and restrict the growth of the crop micronutrients market is provided.
The report provides a quantitative analysis to help the stakeholders to capitalize on the prevailing market opportunities.
The report includes a detailed analysis of the regional as well as global market, key players, market segments, application areas, and growth strategies.
Key players are profiled and their strategies are analyzed thoroughly, which predict the competitive outlook of the crop micronutrients market.
KEY MARKET SEGMENTS
By Form
Chelated
Non-Chelated
By Product Type
Boron
Copper
Iron
Manganese
Molybdenum
Zinc
Others
By Crop Type
Cereals & Grains
Fruits & Vegetables
Pulses and Oilseeds
Others
By Application
Fertigation
Soil
Foliar
Seed Treatment
Others
By Region
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
OTHER PLAYERS
Other prominent players in crop micronutrients market are as follows.
E. I. du Pont de Nemours and Company
Nufarm Limited
Wolf Trax Inc.
Coromandel International Ltd.
Agrium Inc.
Syngenta International AG
Haifa Chemicals Ltd.
Grow More, Inc.
Stoller USA, Inc.
*Profiles of these players are not included in the report, but can be included on request
Increase in population and rise in economy of the developing countries have fueled the consumption of food. In addition, agricultural land is lost after it is being converted for other purposes, such as highways, housing, and factories. Hence, it is important to maintain the nutrient level in crops & soil to enhance the productivity and growth of crops. To produce enough food for population across the globe with available cultivable land, farmers are incorporating micronutrients with other essential ingredients for agriculture in the form of fertilizers. Chemical fertilizers that consist of micronutrients protect crops from insects as well as UV radiation, and offer increased yield. Moreover, the lack of micronutrients can lead to various diseases in plants such as chlorosis, yellowing of leaves, gummosis, and others, which reduce quality and quantity of plants. Use of micronutrients for various crops such as cereals & grains, fruits & vegetables, pulses, and oilseeds through various application such as fertigation, soil, foliar, seed treatment and others are expected to boost plant immunity, thereby driving the crop micronutrients market.
Factors such as the appeal for quality and uniform crop yield due to the population expansion across the globe and decrease in cultivable land fuel the demand for agricultural micronutrients. However, mining of micronutrient reserves, lack of awareness among farmers in developing countries regarding dosage and proper application of micronutrients are expected to restrain the growth of the global crop micronutrients market during the forecast period. Furthermore, the adoption of new methods of farming for improving productivity will be providing lucrative opportunities for micronutrient fortified products.
The report on the global crop micronutrients market is segmented based on form, product type, crop type, application, and geography. Based on form the global crop micronutrients market is bifurcated into chelated and non-chelated micronutrients. According to product type, the crop micronutrient market is segmented into boron, copper, iron, manganese, molybdenum, zinc, and others. Based on crop type it is classified into cereals & grains, fruits & vegetables, pulses & oilseeds, and others. By application, the report is segmented into fertigation, soil, foliar, seed treatment, and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Top market players in the global market include Akzo Nobel N.V., Aries Agro Ltd., Baicor, L.C., BASF SE., Compass Minerals International, Inc., DowDuPont Inc., The Mosaic Company, Nutrien Ltd., Western Nutrients Corporation, and Yara International.
KEY BENEFITS FOR STAKEHOLDERS
The study provides an in-depth analysis of the crop micronutrients market with current trends and future estimations to elucidate the investment pockets.
Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplierâ€Âbuyer network
A comprehensive analysis of factors that drive and restrict the growth of the crop micronutrients market is provided.
The report provides a quantitative analysis to help the stakeholders to capitalize on the prevailing market opportunities.
The report includes a detailed analysis of the regional as well as global market, key players, market segments, application areas, and growth strategies.
Key players are profiled and their strategies are analyzed thoroughly, which predict the competitive outlook of the crop micronutrients market.
KEY MARKET SEGMENTS
By Form
Chelated
Non-Chelated
By Product Type
Boron
Copper
Iron
Manganese
Molybdenum
Zinc
Others
By Crop Type
Cereals & Grains
Fruits & Vegetables
Pulses and Oilseeds
Others
By Application
Fertigation
Soil
Foliar
Seed Treatment
Others
By Region
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
OTHER PLAYERS
Other prominent players in crop micronutrients market are as follows.
E. I. du Pont de Nemours and Company
Nufarm Limited
Wolf Trax Inc.
Coromandel International Ltd.
Agrium Inc.
Syngenta International AG
Haifa Chemicals Ltd.
Grow More, Inc.
Stoller USA, Inc.
*Profiles of these players are not included in the report, but can be included on request
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: CROP MICRONUTRIENTS MARKET, BY FORM
CHAPTER 5: CROP MICRONUTRIENTS MARKET, BY PRODUCT TYPE
CHAPTER 6: CROP MICRONUTRIENTS MARKET, BY CROP TYPE
CHAPTER 7: CROP MICRONUTRIENTS MARKET, BY APPLICATION
CHAPTER 8: CROP MICRONUTRIENTS MARKET, BY GEOGRAPHY
CHAPTER 9: COMPANY PROFILES
Executive Summary
According to a new report titled, Crop Micronutrients Market by Form, Product Type, Crop Type, and Application: Global Opportunity Analysis and Industry Forecast, 2018-2025 the global crop micronutrients market was valued at $6,077.05 million in 2017, and is projected to reach $11,532.36 million by 2025, registering a CAGR of 8.3% from 2018 to 2025. In 2017, the soil application segment accounted for more than 50% share of the global crop micronutrients market in terms of value.Crop micronutrients are the essential nutrients that are required for the growth and balanced nutrition of plants and crops. Micronutrients help in improving the quality as well as the yield of the crops. These are the basic nutrients required in minor amounts to treat deficiency in plants and increase crop yield. Chlorosis, yellowing of leaves, gummosis, and rot are a few illnesses that are found in plants due to insufficiency of micronutrients. Boron, zinc, iron, molybdenum, manganese, copper, and chlorine are some of the major micronutrients that are required by crops and plants. Different applications, for example, fertigation, foliar, and seed treatment are expected to exhibit high demand in future.
Micro-nutrients act as enzyme co-factors and building blocks that enable plants to build complete proteins and compounds. They also aid in the development of large, strong roots, and boost immunity of the plant. Growth in awareness about benefits of micronutrients among farmers & growers, increase in demand for healthy & nutritious food, surge in demand for biofuels fuel the global crop micronutrients market. However, factors such as lack of awareness among farmers in developing countries regarding dosage and proper application of micronutrients, mining of micronutrient reserves, and availability of cheap alternatives and counterfeit products are the major factor expected to restrain the global crop micronutrients market growth during the forecast period. Furthermore, the adoption of new methods of farming for enhancing profitability fuels the demand for micronutrient fortified products. Key Findings of the Crop Micronutrients Market:
The chelated micronutrients segment was the highest contributor to the crop micronutrients market in 2017, and is projected to grow at a CAGR of 8.7%.
The demand for fruits & vegetables is continuously increasing around the globe, especially in developing countries such as China, India, and Brazil, and is projected to grow at CAGR of 8.7% over the forecast period.
Asia Pacific is projected to exhibit rapid growth in the crop micronutrients market, owing to growth in its economy with a large population base, and is projected to grow at the most astounding CAGR of 8.9% from 2018 to 2025.
China accounted for the highest share accounting approximately 40% in the Asia-Pacific crop micronutrients market, in 2017.
In 2017, the soil application segment accounted for 50% of the crop micronutrients market share and is expected to grow at a CAGR of 8.9%.
In terms of value, Asia-Pacific and LAMEA collectively contributed xx share in the global crop micronutrients market in 2017. The key players operating in the crop micronutrients market are Akzo Nobel N.V., Aries Agro Ltd., Baicor, L.C., BASF SE., Compass Minerals International, Inc., DowDuPont Inc., The Mosaic Company, Nutrien Ltd., Western Nutrients Corporation, and Yara International.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
LOADING...
