Global Market Study on Agriculture Micronutrients: Established Players Are Focusing to Strengthen Partnerships along the Value Chain to Gain Better Market Access over the Forecast Period 2016 - 2024


  • Published On : May-2016 |
  • Pages : 314 Pages |
  • Format :

‘Agricultural Micronutrients’ refer to those plant nutrients that are required in comparatively small amounts than other plant nutrients in crops/plants for obtaining better yield. There are 16 essential plant nutrients in total, out of which, seven are designated as micronutrients. These include chloride (Cl), boron (B), copper (Cu), iron (Fe), manganese (Mn), molybdenum (Mo), and zinc (Zn). The global agriculture micronutrients market is anticipated to exhibit significant growth over the forecast period, owing to the rising consumption of bio-fuels and increasing population across the globe. Increasing agriculture contribution towards GDP and need for effective fertilizers due to poor soil quality are factors anticipated to drive the growth of the global agriculture micronutrients market over the forecast period.

To understand and assess the opportunities in this market, the report is categorically split into four segments, namely market analysis, by product type, application, crop type, and region. The report analyzes the agriculture micronutrients market in terms of market value (US$ Mn) and volume (Kilo Tons).

In the same section, PMR covers the agriculture micronutrients market performance on the basis of consumption in terms of value and volume, respectively. This section includes PMR’s analysis of the key trends, drivers, and restraints from the supply and demand perspective. Impact analysis of the key growth drivers and restraints, based on the weighted average model, is included in this report to better equip clients with crystal clear decision-making insights.

The next section of the report analyzes the market on the basis of product type and presents the market size in terms of value and volume over the forecast period (2016 - 2024).

The global agriculture micronutrients market is segmented as follows:

  • By product type
  • By application
  • By crop type
  • By region

On the basis of product type, the market is segmented into:

  • Boron
    • Chelated
    • Non-chelated
  • Copper
    • Chelated
    • Non-chelated
  • Iron
    • Chelated
    • Non-chelated
  • Manganese
    • Chelated
    • Non-chelated
  • Molybdenum
    • Chelated
    • Non-chelated
  • Zinc
    • Chelated
    • Non-chelated
  • Others
    • Chelated
    • Non-chelated

The zinc product type segment accounted for the highest revenue share of 38.1% of the overall agriculture micronutrients market in 2015 in terms of revenue, followed by the boron product type segment.

The segment that follows analyzes the market on the basis of application and presents the market size in terms of value and volume for the forecast period.

On the basis of the application, the market is segmented into:

  • Fertigation
  • Foliar
  • Soil
  • Seed treatment
  • Others

The soil segment is expected to expand at the highest CAGR of 8.6% in terms of value during the forecast period. In terms of market share, the soil segment accounted for 47.6% revenue share of the overall market in 2015 and is expected to dominate the overall market during the forecast years.

The segment that follows analyzes the market on the basis of crop type and presents the market size in terms of value and volume for the forecast period.

On the basis of the crop type, the market is segmented into:

  • Cereals
  • Pulses and oilseeds
  • Fruits and vegetables
  • Others

The cereals segment is expected to expand at the highest CAGR of 8.5% in terms of value during the forecast period. In terms of market share, the cereals segment accounted for 34.5% revenue share of the overall market in 2015 and is expected to dominate the overall market during the forecast years. 

The section that follows analyzes the market on the basis of region and presents the market size in terms of value and volume over the forecast period.

Regions covered in the report are as follows:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa

According to this report analysis, agriculture micronutrients are gaining popularity globally for obtaining better yield output. The global agriculture micronutrients market value is anticipated to increase from US$ 6,576.9 Mn in 2015 to US$ 13,344.2 Mn by 2024, expanding at a CAGR of 8.3% during the forecast period (2016–2024). Increasing need for effective fertilizers due to poor soil quality and high demand for quality and uniform yield in view of the increasing population across the globe are factors anticipated to drive the growth of the agriculture micronutrients market over the forecast period. Demand for agriculture micronutrients across the globe is growing steadily and can be attributed to the various benefits associated with them. The major benefits that they offer include the fact that they help to improve a quality of soil used for agriculture and to increase the production of bio-fuel crops. Growing contribution of agriculture in GDP is further fueling the growth of the agriculture micronutrients market currently.

One of the major restraints for a growth of the agriculture micronutrients market is the lack of awareness among farmers in developing countries regarding appropriate dosage and proper application of micronutrients, thereby limiting its demand. This factor is anticipated to restrain the growth of the agriculture micronutrients market over the forecast period.

In 2015, among the various product type segments, the zinc product type segment was valued at US$ 2,504.7 Mn and it is estimated to reach a market value of US$ 2,697.5 Mn by the end of 2016. The boron product type segment was valued at US$ 953.6 Mn in 2015 and is estimated to reach US$ 1,034.1 Mn by the end of 2016.

In 2015, the soil application segment accounted for 47.6% value share of the overall market, which is expected to rise up to 48.7% by the end of 2024.

In terms of volume, the Asia Pacific agriculture micronutrients market dominated the overall market in 2015, and it is expected to continue to dominate the market over the forecast period between 2016 and 2024 as well, as compared to other regions. In terms of value, the Asia Pacific agriculture micronutrients market is anticipated to expand at a CAGR of 9.0% during 2016 to 2024.

The price of agriculture micronutrients is forecast on the basis of the historic price trend and several other factors, including production, demand, import & export, and end-stock of agriculture micronutrients.

Key players in the global agriculture micronutrients market include ADAMA Agricultural Solutions Ltd., Agrium Inc., Akzo Nobel N.V., Auriga Industries A/S, BASF SE, Bayer Crop, Compass Minerals International Inc., E. I. DUPONT DE NEMOURS AND COMPANY, Land O’Lakes Inc. Monsanto Co., Nufarm Limited, Sumitomo Chemical Co., Ltd., Syngenta International AG, The Dow Chemical Co., The Mosaic Company, Yara International ASA, ATP Nutrition, Baicor, L.C., Brandt Consolidated Inc., Grow More Inc., Kay-Flo, Micnelf USA Inc., Nutra-Flo Company (K- Flo), Stoller USA, Inc., Verdesian Life Sciences, LLC, Merck KGaA, and Sigma-Aldrich Corporation.

agriculture-micronutrients-market

Key players in the global agriculture micronutrients market include:

  • ADAMA Agricultural Solutions Ltd.
  • Agrium Inc.
  • Akzo Nobel N.V.
  • Auriga Industries A/S, BASF SE.
  • Bayer Crop.
  • Compass Minerals International Inc.
  • E. I. DUPONT DE NEMOURS AND COMPANY.
  • Land O’Lakes Inc.
  • Monsanto Co.
  • Nufarm Limited.
  • Sumitomo Chemical Co., Ltd.
  • Syngenta International AG.
  • The Dow Chemical Co.
  • The Mosaic Company.
  • Yara International ASA.
  • ATP Nutrition.
  • Baicor, L.C.
  • Brandt Consolidated Inc.
  • Grow More Inc.
  • Kay-Flo.
  • Micnelf USA Inc.
  • Nutra-Flo Company (K- Flo).
  • Stoller USA, Inc.
  • Verdesian Life Sciences, LLC.
  • Merck KGaA.
  • Sigma-Aldrich Corporation.
  • Other.
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