Crop Micronutrients Market by Form (Chelated, and Non-Chelated), Product Type (Boron, Copper, Iron, Manganese, Molybdenum, Zinc, Others), Crop Type (Cereals & Grains, Fruits & Vegetables, Pulses & Oilseeds, and Others), and Application (Fertigation, Soil, Foliar, Seed Treatment, Others) - Global Opportunity Analysis and Industry Forecast, 2018-2025
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 supplierÃ¢â‚¬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 Product Type
By Crop Type
Cereals & Grains
Fruits & Vegetables
Pulses and Oilseeds
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
Other prominent players in crop micronutrients market are as follows.
E. I. du Pont de Nemours and Company
Wolf Trax Inc.
Coromandel International Ltd.
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
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