Global Agricultural Micronutrients Market is projected to grow at a high CAGR from 2017 to 2022
The report is designed to provide a complete view on the global Agricultural Micronutrients market. The report has been categorised into qualitative and quantitative insights over the forecast period (2017-2022). The demand and supply matrix section falls under the qualitative information category wherein the market dynamics for Agricultural Micronutrients market has been studied considering a short term forecast of the factors/ variables which have an impact on Agricultural Micronutrients market. The market segments and their respective estimates & forecasts has been covered under the quantitative information category. Regional estimates and forecasts & trend analysis for each country and region is also available in the study. The report concludes by providing the competitive landscape of the major market participants which are profiled by analysing their organic & inorganic growth strategies, regional presence, and product portfolio among others.
Agricultural micronutrients are key performers in the production of biofuels. The ever-soaring necessity and demand for biofuels will play an important role in sustaining the agricultural micronutrient market in coming years. Biofuel is widely being used as alternative form of energy as opposed to conventional crude oil and its by-products; depletion of these is posing as a serious concern over time. With prevailing concerns about pollution and overall maintenance of the environment, biofuels pose a lesser threat than their conventional counterparts. Population is another factor, which will boost the growth of this market as to sustain an ever-increasing population, an equivalent supply of food is required; agriculture micronutrients are being recognized world over for their superior and added yield output.
Study Technique: Global Agricultural Micronutrients Market
The global Agricultural Micronutrients market has been studied from the year 2016 till 2022. However, the CAGR provided in the report is from the year 2017 to 2022. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process. The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Agricultural Micronutrients market. The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers. Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company’s manufacturing Agricultural Micronutrients, and customer analytics.
End-User Landscape (Consumer Profile): Agricultural Micronutrients Market
Companies such as the Agrium Inc., Akzo Nobel N.V., and BASF SE among others are investing extensively in the manufacturing and sale of Agricultural Micronutrients, which presents a huge opportunity to Agricultural Micronutrients suppliers. The report provides a detailed list of end-users operating across the world. The end-user landscape includes consumer contact details, geographical presence, revenue, product portfolio, organic, and inorganic growth strategies among others.
Global Agricultural Micronutrients Market Segmentation
The agricultural micronutrients market is segmented into boron, manganese, zinc, iron, copper, molybdenum and others. Zinc based agricultural micronutrients account for maximum market share due to the growing and excessive deficiency of zinc in soils. Based on crop type the market is divided into fruits and vegetables, cereals, oil seeds and pulses, etc. The fruits and vegetables type captures most of the market demand followed by cereals, as both are required to suffice the nutritional needs of the vast and ever growing world population. Keeping in mind form, the market is divided into chelated and non-chelated, chelated micronutrients are preferred to non-chelated ones even though they are more expensive due to their unwavering productivity.
By application, the market is sectioned into foliar, soil and fertigation. The soil segment is seen to be dominating in recent years and trends continue to show the same in the future. They are mostly used by fertiliser manufacturers, agrochemical manufacturers, research institutions, agriculture institutions, government bodies, wholesalers, traders and distributors.
Agricultural micronutrients market drivers: Huge population leading to an increase in demand for food; less arable land, needs to be maximised with the help of micronutrients; and sustainable environmental development by using biofuels.
Agrium Inc., Akzo Nobel N.V., BASF SE, Auriga Industries A/S, Yara International ASA, The Mosaic Company, and Coromandel International Limited among others account for the major share in Agricultural Micronutrients market. Companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position. The other companies profiled in the report include: Haifa Chemicals Ltd., Sapec SA, and Valagro.
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