Micronutrient Fertilizers Market Size, Share, Forecast, in India, application,2026.
Market Overview
• Soil fertility and presence of nutrients are important factors to facilitate growth of plants.
• This is where the market for micronutrient fertilizers has a great opportunity to grow.
Drivers and Restraints
• Several factors such as micronutrient deficiency, shrinking farmland (reduce in portion of agricultural land) and focus on agricultural productivity drive the market’s growth.
• Growing population and their incomes is leading to more agricultural consumption prompting more production.
Market Segmentation
• The global Micronutrients Fertilizers market has the following segments based on the type: Boron, Copper, Iron, Manganese, Molybdenum, Zinc, and Others.
• Zinc is the most preferred fertilizer especially in the Asia-Pacific region as it improved crop yield and offers economic advantages.
• Based on form, the market has two segments namely Chelated and Non-Chelated.
• Micronutrient fertilizers in non-chelated form are more commonly used due to their high solubility, stability and ease of application.
• Based on crop types are Cereals, Oil-seeds & Pulses, Fruits & Vegetables, and others.
• Cereals and Oil-seeds and Pulses hold major market share based on this classification.
• Based on applications, the different segments are Soil, Foliar, Fertigation, and Others.
• This report segments the geographies by region, which include North America, South America, Europe, Asia Pacific and RoW.
• Asia-Pacific dominated the market in 2017 followed by North America.
• India in the Asia-Pacific region is the fastest growing market thanks to awareness of the benefits of micronutrients and fertilizers in farmers.
• By function:The global market for micronutrient fertilizers has the following segments based on function: soil, foliar, fertigation and others.
• Soil application has the largest market share.
• Micronutrients are accordingly applied for enhanced plant growth after deciding on the nutrient levels in the soil.
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The Foliar Segment of the Micronutrient Fertilizers Market
• The market valuation for foliar sprays was USD XX million in the year 2016.
• The expected valuation of the market is USD XX million by 2026. The expected CAGR is 8.37 in the forecast period.
• Application of micronutrients to the crops is done using foliar sprays in majority of cases.
• Iron and manganese are the most frequently sprayed minerals using foliar sprays for various crops.
• Due to lower cost and increased solubility of inorganic salts, farmers use them more often as foliar sprays when compared to synthetic chelates.
• Any suspected deficiency of micronutrients can be diagnosed with this mode of application with one or more micronutrients.
• Experts usually suggest Sticker spreader agents to improve the adherence of micronutrients.
Advantages and disadvantages of Foliar sprays
• Bill and Melinda Gates Foundation funded a research conducted in Harvest Plus Program.
• It concluded that foliar application of Zn resulted in an increase in Zn concentration in wheat by almost 85% to 100%.
• The market launched the findings of Harvest Zinc in 2008. It is now in its third phase.
Key Highlights of the report
• The report covers factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.
• It profiles major companies in Micronutrient Fertilizers market. Some of them are :
o Agrium Inc,
o AkzoNobel N.V,
o Auriga Industries A/S,
o BASF SE, Coromandel International Ltd.,
o Haifa Chemicals Ltd.,
o Sapec SA,
o The Mosaic Company,
o Valagro,
o Yara International ASA,
o Nufarm,
o Land Olakes,
o BMS Micro-Nutrients N.V.,
o ATP Nutrition
o Wilbur-Ellis Corporate.
Why purchase the report?
• Visualize the composition of Micronutrients Fertilizers market across each indication, in terms of type and applications. Highlights of the key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development deals.
• Excel data sheet with thousands of data points of the market level 4/5 segmentation
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
• Product mapping in excel for key Micronutrients Fertilizers products of all major market players
Target Audience
• Service Providers/ Buyers
• Industry Investors/Investment Bankers
• Education & Research Institutes
• Research Professionals
• Emerging Companies
• Manufacturers
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