The report "Agricultural Micronutrients Market by Type (Zinc, Boron, Copper, Manganese, Molybdenum, and Iron), Mode of Application (Soil, Foliar, and Fertigation), Form (Chelated and Non-Chelated), Crop Type, and Region - Global Forecast to 2022", The market for agricultural micronutrients, in terms of value, is estimated to be USD 5.83 Billion in 2017, and is projected to reach USD 8.81 Billion by 2022, at a CAGR of 8.60% from 2017.
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Browse 117 market data Tables and 43 Figures spread through 181 Pages and in-depth TOC on "Agricultural Micronutrients Market by Type (Zinc, Boron, Copper, Manganese, Molybdenum, and Iron), Mode of Application (Soil, Foliar, and Fertigation), Form (Chelated and Non-Chelated), Crop Type, and Region - Global Forecast to 2022"
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High applicability rates of zinc drive growth of the agricultural micronutrients market during the forecast period.
Zinc is the most widely used agricultural micronutrient in the world, owing to its high nutritional properties required for the growth of plants, and the increasing zinc deficiency in agricultural soil. It is a combination of various enzymes that makes it essential for improving nutrition in plants. Major agriculture firms intend to continue and preserve their market share or produce incremental income streams; growers are looking for new ways to generate a higher yield. Zinc is required in small but critical concentrations to allow several key plant physiological pathways to function normally. These pathways have important roles in photosynthesis & sugar formation, protein synthesis, fertility & seed production, growth regulation, and defense against diseases.
By crop type, fruits & vegetables dominated the agricultural micronutrients market in 2017.
The consumption of fruits has shown an overall double-digit growth in the last few decades, and this trend is expected to continue over the next few years. The high export potential of fruits & vegetables has also led to an increase in production levels. This has driven the requirement for micronutrient products for efficient use of agricultural inputs to meet export quality standards. Increasing cultivation of fruits & vegetables under controlled conditions in the protected agricultural area drives the usage of micronutrients in soil. As a result, this sector has witnessed significant usage of micronutrients.
Non-chelated forms of micronutrients are projected to dominate the agricultural micronutrients market by 2022.
Non-chelated micronutrients are applied in larger quantities than chelated ones. Non-chelated micronutrients are widely used and are marketed in the form of sulfate salts, such as copper sulfate (CuSo4), iron sulfate (FeSo4), and zinc sulfate (ZnSo4). Metal ions in the salts are oxidized, which make them water-soluble.
This report includes a study of the development strategies, along with the product portfolios of leading companies such as BASF (Germany), Nouryon (the Netherlands), Nutrien (Canada), Yara International (Norway), The Mosaic Company (US), Helena Chemical Company (US), Nufarm (Australia), Coromandel International (India), Haifa Chemicals (Israel), and Sapec S.A. (Belgium).
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