GLOBAL AGRICULTURAL MICRONUTRIENTS MARKET FORECAST 2019-2027

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GLOBAL AGRICULTURAL MICRONUTRIENTS MARKET FORECAST 2019-2027

Inkwood Research estimates that the global market for agricultural micronutrients will grow with an anticipated CAGR of 7.84% during the forecast period of 2019 to 2027 and will reach revenue of $11,860.66 million by 2027. The base year considered for the market study is 2018, and the forecasted period is between 2019 and 2027. The increasing demand for the production of food is driving market growth in the forecast period. The growing rate of urbanization, coupled with the rising population, is driving the demand for food production globally. Moreover, the low availability of arable land is pushing the farmers to adopt efficient farming techniques, which is increasing the demand for micronutrients in the coming years.

GLOBAL AGRICULTURAL MICRONUTRIENTS MARKET FORECAST 2019-2027

Global Agricultural Micronutrients Market by Crop Type (Cereal & Grains, Oilseeds & Pulses, Fruits and Vegetables, Other Crops) by Type (Boron, Iron, Manganese, Zinc, Copper, Others) by Application (Soil, Foliar, Fertigation, Seed Treatment, Others) by Form (Chelated, Non-chelated) by Geography.

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Inkwood Research estimates that the global market for agricultural micronutrients will grow with an anticipated CAGR of 7.84% during the forecast period of 2019 to 2027 and will reach revenue of $11,860.66 million by 2027. The base year considered for the market study is 2018, and the forecasted period is between 2019 and 2027.

The global agricultural micronutrient market is primarily driven by factors as follows:

  • Increasing focus on agricultural productivity
  • Growing deficiency of micronutrients in soil
  • High demand for food production

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The increasing demand for the production of food is driving market growth in the forecast period. The growing rate of urbanization, coupled with the rising population, is driving the demand for food production globally. Moreover, the low availability of arable land is pushing the farmers to adopt efficient farming techniques, which is increasing the demand for micronutrients in the coming years. Also, regional governments are encouraging the use of micronutrients and are creating awareness to use ideal amounts of micronutrients. Government encouragement for the use of micronutrients is leading to strong market growth in several regions and improving the quality of yield.

Cereals and grains are the leading segments in terms of revenue in the global agricultural micronutrients market, with around 50.51% market share in 2018. The increase in population and the rise in the economy in developing nations are major drivers fuelling the demand for cereal and grains. In countries from the Asia Pacific and Latin America, cereals and grains are mainly consumed by the patrons. The rising demand for micronutrient-rich foods is driving the market in the upcoming years.

On the downside, the dearth of awareness with respect to micronutrients usage in the agronomic community is posing as a challenge for market growth. The overutilization of micronutrients creates additional severe issues such as impacting fertilizer intake and leads to a further deficiency of several nutrients that are important for the growth of the plant. In an effort to find a solution to the problem, several market vendors have introduced field training programs for farmers to facilitate scientist-farmer interactions. Also, the lack of availability of micronutrients is limiting the growth of the market.

Report scope of the global agricultural micronutrients market covers segmentation analysis of crop type, type, application, and form.

Market by Crop Type:

  • Oilseeds & Pulses
  • Cereals & Grains
  • Fruits & Vegetables
  • Other Crops

Market by Type:

  • Boron
  • Iron
  • Manganese
  • Zinc
  • Copper
  • Others

Market by Application:

  • Soil
  • Fertigation
  • Foliar
  • Seed Treatment
  • Others

Market by Form:

  • Chelated
  • Non-Chelated

On the basis of geography, the global agricultural micronutrients market has been segmented into four major regions:

  • North America: the United States & Canada
  • Europe: United Kingdom, France, Germany, Italy, Spain & the Rest of Europe
  • Asia Pacific: China, Japan, India, Australia, South Korea & the rest of Asia Pacific
  • Rest of World: Latin America, Middle East & Africa.

Geographically, Asia Pacific is the largest and the fastest-growing regional market with a market share of 49.86% in terms of revenue in 2018. Market demand for crop micronutrients in the Asia Pacific is driven by the rising demand for food production to feed growing populations. Moreover, the increase in crop production, government initiatives, and the growing penetration of food fortification programs are driving the growth of the market in the region. Also, the supply network of agricultural micronutrients is deep-rooted in the Asia Pacific. This is additionally aiding the market of various micronutrients fertilizer products in the Asia Pacific. The growing demand for food grains, combined with declining nutrients in the soil, is one of the chief causes promoting the growth of the market in the region.

The agricultural micronutrient market on a global scale is segmented on the basis of crop type, type, application, and form. The crop type is segmented into cereals & grains, oilseeds & pulses, fruits & vegetables, and other crops. Type is segmented into boron, iron, manganese, zinc, copper, and others. Application is segmented into soil, foliar, fertigation, seed treatment, and others. The form is sub-segmented into chelated and non-chelated.

The market has a number of players, and some of the primary key players involved in global agricultural micronutrient market are:

  • Basf SE
  • AkzoNobel N.V.
  • Nutrien Ltd.
  • Baicor L.C.
  • others

In December 2019, BASF SE joined forces with Vandersat, to support farmers worldwide with detailed, satellite data-based commendations on the application of crop inputs. The technology will help to provide farmers with separately tailor-made application maps and improved timing for crop protection measures. Also, in April 2019, Yara International ASA has announced an agreement with IBM jointly commercialize digital agricultural solutions that will help upsurge global food production.

Key findings of the global agricultural micronutrient market:

  • The Asia Pacific leads the global agricultural micronutrients market by capturing the largest market share of around 49.86 % in 2018
  • The growing demand for food production is driving the demand for global agricultural micronutrient market in 2019-2027
  • Cereals and grains segment accounts for the largest share in agricultural micronutrients market & is projected to grow with a CAGR of XX% during the forecasted period
  • Zinc segment  in agricultural micronutrients market is projected to grow fastest in the market at CAGR of XX% during the forecasted period
  1. RESEARCH SCOPE
    • STUDY GOALS
    • SCOPE OF THE MARKET STUDY
    • WHO WILL FIND THIS REPORT USEFUL?
    • STUDY AND FORECASTING YEARS
  2. RESEARCH METHODOLOGY
    • SOURCES OF DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • TOP-DOWN APPROACH
    • BOTTOM-UP APPROACH
    • DATA TRIANGULATION
  3. EXECUTIVE SUMMARY
    • MARKET SUMMARY
    • KEY FINDINGS
      • EMERGENT DEMAND FOR ZINC BASED MICRONUTRIENTS
      • GROWING NEED FOR AGRICULTURAL MICRONUTRIENTS IN ASIA PACIFIC
      • RISE IN USAGE OF CHELATED MICRONUTRIENTS
  1. MARKET DYNAMICS
    • MARKET SCOPE & DEFINITION
    • MARKET DRIVERS
      • GROWING DEFICIENCY OF MICRONUTRIENTS IN SOIL
      • FOCUS ON AGRICULTURAL PRODUCTIVITY
      • HIGH DEMAND FOR FOOD PRODUCTION
    • MARKET RESTRAINTS
      • LACK OF AVAILABILITY OF MICRONUTRIENTS
      • GROWING INCIDENCES OF MICRONUTRIENT TOXICITY
    • MARKET OPPORTUNITIES
      • INCREASING FOCUS ON RESEARCH AND PRODUCT DEVELOPMENT
      • GOVERNMENT ORGANIZATIONS PROMOTING USE OF MICRONUTRIENTS
    • MARKET CHALLENGES
      • GROWING REQUIREMENT FOR SUSTAINABLE SOURCING OF RAW MATERIALS
  1. MARKET BY CROP TYPE
    • CEREAL & GRAINS
    • OILSEEDS & PULSES
    • FRUITS AND VEGETABLES
    • OTHER CROPS
  2. MARKET BY TYPE
    • BORON
    • IRON
    • MANGANESE
    • ZINC
    • COPPER
    • OTHERS
  3. MARKET BY APPLICATION
    • SOIL
    • FOLIAR
    • FERTIGATION
    • SEED TREATMENT
    • OTHERS
  4. MARKET BY FORM
    • CHELATED
    • NON-CHELATED
  5. KEY ANALYTICS
    • PORTER’S FIVE FORCE MODEL
      • THREAT OF NEW ENTRANTS
      • THREAT OF SUBSTITUTE
      • BARGAINING POWER OF SUPPLIERS
      • BARGAINING POWER OF BUYERS
      • THREAT OF COMPETITIVE RIVALRY
    • OPPORTUNITY MATRIX
    • VENDOR LANDSCAPE
  6. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • SPAIN
      • ITALY
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA
  1. COMPANY PROFILES
    • AKZO NOBEL N.V.
    • BASF SE
    • NUTRIEN LTD.
    • YARA INTERNATIONAL ASA
    • COROMANDEL INTERNATIONAL LTD.
    • FMC CORPORATION
    • THE MOSAIC COMPANY
    • COMPASS MINERALS INTERNATIONAL INC.
    • DOWDUPONT
    • ARIES AGRO LTD.
    • BAICOR L.C.
    • WESTERN NUTRIENTS CORPORATION
    • HAIFA GROUP
    • VALAGRO SPA
    • SAPEC S.A.

 

LIST OF TABLES

TABLE 1. GLOBAL AGRICULTURAL MICRONUTRIENTS MARKET, BY GEOGRAPHY, 2019-2027 (IN $ MILLION)

TABLE 2. GLOBAL AGRICULTURAL MICRONUTRIENTS MARKET, BY CROP TYPE, 2019-2027 (IN $ MILLION)

TABLE 3. GLOBAL CEREALS & GRAINS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 4. GLOBAL OILSEEDS & PULSES MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 5. GLOBAL FRUITS AND VEGETABLES MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 6. GLOBAL OTHER CROPS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 7. GLOBAL AGRICULTURAL MICRONUTRIENTS MARKET, BY TYPE, 2019-2027 (IN $ MILLION)

TABLE 8. GLOBAL BORON MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 9. GLOBAL IRON MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 10. GLOBAL MANGANESE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 11. GLOBAL ZINC MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 12. GLOBAL COPPER MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 13. GLOBAL OTHERS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 14. GLOBAL AGRICULTURAL MICRONUTRIENTS MARKET, BY APPLICATION, 2019-2027 (IN $ MILLION)

TABLE 15. GLOBAL SOIL MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 16. GLOBAL FOLIAR MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 17. GLOBAL FERTIGATION MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 18. GLOBAL SEED TREATMENT MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 19. GLOBAL OTHERS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 20. GLOBAL AGRICULTURAL MICRONUTRIENTS MARKET, BY FORM 2019-2027 (IN $ MILLION)

TABLE 21. GLOBAL CHELATED MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 22. GLOBAL NON-CHELATED MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 23. OPPORTUNITY MATRIX

TABLE 24. VENDOR LANDSCAPE

TABLE 25. GLOBAL AGRICULTURAL MICRONUTRIENTS MARKET, BY GEOGRAPHY, 2019-2027 (IN $ MILLION)

TABLE 26. NORTH AMERICA AGRICULTURAL MICRONUTRIENTS MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 27. EUROPE AGRICULTURAL MICRONUTRIENTS MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 28. ASIA PACIFIC AGRICULTURAL MICRONUTRIENTS MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 29. REST OF WORLD AGRICULTURAL MICRONUTRIENTS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

LIST OF FIGURES

FIGURE 1. GLOBAL AGRICULTURAL MICRONUTRIENTS MARKET, BY TYPE, 2018 & 2027 (IN %)

FIGURE 2. GLOBAL AGRICULTURAL MICRONUTRIENTS MARKET, BY CEREALS & GRAINS, 2019-2027 (IN $ MILLION)

FIGURE 3. GLOBAL AGRICULTURAL MICRONUTRIENTS MARKET, BY OILSEEDS & PULSES, 2019-2027 (IN $ MILLION)

FIGURE 4. GLOBAL AGRICULTURAL MICRONUTRIENTS MARKET, BY FRUITS AND VEGETABLES, 2019-2027 (IN $ MILLION)

FIGURE 5. GLOBAL AGRICULTURAL MICRONUTRIENTS MARKET, BY OTHER CROPS, 2019-2027 (IN $ MILLION)

FIGURE 6. GLOBAL AGRICULTURAL MICRONUTRIENTS MARKET, BY BORON, 2019-2027 (IN $ MILLION)

FIGURE 7. GLOBAL AGRICULTURAL MICRONUTRIENTS MARKET, BY IRON, 2019-2027 (IN $ MILLION)

FIGURE 8. GLOBAL AGRICULTURAL MICRONUTRIENTS MARKET, BY MANGANESE, 2019-2027 (IN $ MILLION)

FIGURE 9. GLOBAL AGRICULTURAL MICRONUTRIENTS MARKET, BY ZINC, 2019-2027 (IN $ MILLION)

FIGURE 10. GLOBAL AGRICULTURAL MICRONUTRIENTS MARKET, BY COPPER, 2019-2027 (IN $ MILLION)

FIGURE 11. GLOBAL AGRICULTURAL MICRONUTRIENTS MARKET, BY OTHERS, 2019-2027 (IN $ MILLION)

FIGURE 12. GLOBAL AGRICULTURAL MICRONUTRIENTS MARKET, BY SOIL, 2019-2027 (IN $ MILLION)

FIGURE 13. GLOBAL AGRICULTURAL MICRONUTRIENTS MARKET, BY FOLIAR, 2019-2027 (IN $ MILLION)

FIGURE 14. GLOBAL AGRICULTURAL MICRONUTRIENTS MARKET, BY FERTIGATION, 2019-2027 (IN $ MILLION)

FIGURE 15. GLOBAL AGRICULTURAL MICRONUTRIENTS MARKET, BY SEED TREATMENT, 2019-2027 (IN $ MILLION)

FIGURE 16. GLOBAL AGRICULTURAL MICRONUTRIENTS MARKET, BY OTHERS, 2019-2027 (IN $ MILLION)

FIGURE 17. GLOBAL AGRICULTURAL MICRONUTRIENTS MARKET, BY CHELATED, 2019-2027 (IN $ MILLION)

FIGURE 18. GLOBAL AGRICULTURAL MICRONUTRIENTS MARKET, BY NON-CHELATED, 2019-2027 (IN $ MILLION)

FIGURE 19. PORTER’S FIVE FORCE ANALYSIS

FIGURE 20. GLOBAL AGRICULTURAL MICRONUTRIENTS MARKET, REGIONAL OUTLOOK, 2018 & 2027 (IN %)

FIGURE 21. UNITED STATES AGRICULTURAL MICRONUTRIENTS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 22. CANADA AGRICULTURAL MICRONUTRIENTS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 23. UNITED KINGDOM AGRICULTURAL MICRONUTRIENTS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 24. GERMANY AGRICULTURAL MICRONUTRIENTS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 25. FRANCE AGRICULTURAL MICRONUTRIENTS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 26. SPAIN AGRICULTURAL MICRONUTRIENTS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 27. ITALY AGRICULTURAL MICRONUTRIENTS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 28. REST OF EUROPE AGRICULTURAL MICRONUTRIENTS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 29. CHINA AGRICULTURAL MICRONUTRIENTS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 30. JAPAN AGRICULTURAL MICRONUTRIENTS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 31. INDIA AGRICULTURAL MICRONUTRIENTS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 32. SOUTH KOREA AGRICULTURAL MICRONUTRIENTS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 33. AUSTRALIA AGRICULTURAL MICRONUTRIENTS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 34. REST OF ASIA PACIFIC AGRICULTURAL MICRONUTRIENTS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 35. LATIN AMERICA AGRICULTURAL MICRONUTRIENTS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 36. MIDDLE EAST & AFRICA AGRICULTURAL MICRONUTRIENTS MARKET, 2019-2027 (IN $ MILLION)

  1. MARKET BY CROP TYPE
    • CEREAL & GRAINS
    • OILSEEDS & PULSES
    • FRUITS AND VEGETABLES
    • OTHER CROPS
  2. MARKET BY TYPE
    • BORON
    • IRON
    • MANGANESE
    • ZINC
    • COPPER
    • OTHERS
  3. MARKET BY APPLICATION
    • SOIL
    • FOLIAR
    • FERTIGATION
    • SEED TREATMENT
    • OTHERS
  4. MARKET BY FORM
    • CHELATED
    • NON-CHELATED
  5. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • SPAIN
      • ITALY
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA

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