The global Agricultural Micronutrientsmarket was valued at USD 7.10billion in 2016 and is projected to reach USD 14.32billionby 2025, growing at a CAGR of 8.1% from 2017 to 2025.
Micronutrients although required in very small quantities play an important role in soil health. The rising usage of chemical pesticides and fertilizers has deprived the soil of its essential micronutrients. The usage of these products is expected to play a major role in increasing productivity and also maintain the quality of soil.
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Sample Infographics:
Market Dynamics:
1. Market Drivers
1.1 Micronutrient deficiency in soil
1.2 Increased focus on agricultural productivity
2. Market Restraints
2.1 Lack of awareness regarding micronutrients
2.2 Diagnosis issues and micronutrient toxicity
Market Segmentation:
The global Agricultural Micronutrientsmarket is segmented on thetype, form, crop type, functionand region.
1. By Type:
1.1 Manganese
1.2 Zinc
1.3 Boron
1.4 Copper
1.5 Molybdenum
1.6 Others
2. By Form:
2.1 Chelated
2.2 Non-Chelated
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3. By Crop Type:
3.1 Pulses and Oilseeds
3.2 Vegetables and Fruits
3.3 Cereals and Grains
3.4 Others
4. By Function:
4.1 Fertigation
4.2 Soil
4.3 Foliar
4.4 Others
5. By Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa
Competitive Landscape:
The major players in the market are as follows:
1. Akzo Nobel Nutrients
2. Yara International
3. BASF
4. Hellagrolip SA
5. FMC
6. Verdesian
7. BMS Micro Nutrients NV
8. Lemagro
9. Haifa Chemicals Ltd.
10. PPC ADOB
11. Valagro
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These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.