Global Micronutrient Fertilizers Market Report 2019 - Growth, Trends, and Forecasts 2018-2024 - ResearchAndMarkets.com

The "Global
Micronutrient Fertilizers Market - Growth, Trends, and Forecast (2019 -
2024)" report has been added to ResearchAndMarkets.com's
offering.

The micronutrient fertilizers market was valued at USD 1.06 billion in
the year 2018 and the market is projected to register a CAGR of 8.59%,
over the forecast period (2019-2024).

Increasing incidence of micronutrient deficiencies in soils around the
world, coupled with increasing promotion of micronutrient usage by
governmental and non-governmental organizations, are driving the market
for micronutrient fertilizers.

Scope of the Report

Micronutrients play a significant role in ensuring balanced nutrition to
the plants. The lack of any of the micronutrients may limit plant
growth. Many micronutrient fertilizer products are available in the
market and due to their low requirement, they are usually applied along
with NPK fertilizers. Method of application, cost per unit, and other
important factors influence the choice of micronutrient source.

Key Market Trends

Growing Food Demand and Shrinking Farm Land

Agricultural production across the world will need to be doubled over
the next 36 years to meet the demand from 9 billion people. Certainly,
technology will continue to play a major role in this progress. Increase
in urbanization and lower availability of arable land are motivating
farmers to adopt efficient techniques. There are broader acceptance and
recognition of the collective benefits of micronutrient fertilizers. The
amount of arable land per-person is declining and the population is
expanding. Hence, crop-yields must increase to meet food production
needs. As a result, the world is witnessing the most dramatic demand
increase for micronutrient fertilizers and for agricultural production.

Increasing Micronutrient Fertilizers Consumption in the Asia - Pacific
Region

The Asia - Pacific micronutrient fertilizers market is the most
developed and widespread in the global market. The distribution network
of micronutrient fertilizers is well-established in major Asia - Pacific
countries. This is further helping deepen the market of various
micronutrients fertilizer products in the region. The increasing demand
for food grains, coupled with decreasing nutrients in the soil, is one
of the major factors driving the growth of the market in the region.
Government policies and subsidies in most Asia - Pacific countries
support their expansion. It is estimated that micronutrient content in
soil is very less in most Asia - Pacific countries, far less than the
same in developed nations. In Asia - Pacific, 10% of the Indian soil has
phosphorus content and the average potassium content in soil is low by
international standards. Japan has a highly active research base in
micronutrient fertilizers.

Competitive Landscape

The key players in the market are focused on acquisitions and new
product launches to cater to a wider consumer base and expand market
share. Investment in the R&D of cheap effective products is considered
one of the major strategies adopted by market leaders. Manufacturers are
also investing in the production process to reduce the cost of
production.

The major players in the market are Yara International, FMC Corporation,
Haifa Chemicals, Agrium, etc. Recently, BASF and Kingenta jointly
addressed the problems of tough agricultural challenges and optimal
plant nutrition using more efficient fertilizer in China. The market is
fragmented, with several small players occupying a major portion of the
market.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.3 Market Restraints

4.4 Porter's Five Force Analysis

5 MARKET SEGMENTATION

5.1 By Type

5.1.1 Zinc

5.1.2 Manganese

5.1.3 Copper

5.1.4 Boron

5.1.5 Molybdenum

5.1.6 Iron

5.1.7 Other Types

5.2 By Form

5.2.1 Chelated

5.2.2 Non - chelated

5.3 By Crop Type

5.3.1 Grains and Cereals

5.3.2 Oilseeds and Pulses

5.3.3 Fruits and Vegetables

5.3.4 Other Crop Types

5.4 By Function

5.4.1 Soil

5.4.2 Foliar

5.4.3 Fertigation

5.4.4 Other Functions

5.5 Geography

6 COMPETITIVE LANDSCAPE

6.1 Most Adopted Strategies

6.2 Market Share Analysis

6.3 Company Profiles

6.3.1 The Mosaic Company

6.3.2 FMC Corporation

6.3.3 Akzonobel NV

6.3.4 Yara International ASA

6.3.5 BASF SE

6.3.6 Agrium Inc.

6.3.7 Haifa Group

6.3.8 Valagro Spa

6.3.9 Coromandel International Limited

6.3.10 Wolf Trax

6.3.11 Sapec Group

6.3.12 Auriga Group

6.3.13 ATP Nutrition Ltd

6.3.14 Wilbur-Ellis Company (US)

6.3.15 The Andersons Plant Nutrition (Nulex Inc)

6.3.16 Stoller Enterprises Inc.

6.3.17 Zuari Agro Chemicals Ltd

6.3.18 BMS Micro-Nutrients Nv

6.3.19 Baicor L.C.

6.3.20 Arysta Lifescience Corporation

6.3.21 Aries Agro Ltd

6.3.22 Drexel Chemical

6.3.23 Old Bridge Chemicals Inc.

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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View source version on businesswire.com: https://www.businesswire.com/news/home/20190523005256/en/