NEW YORK, Aug. 8, 2016 /PRNewswire/ -- "Agricultural micronutrients market is projected to grow at a CAGR of 8.2%."
The agricultural micronutrients market is projected to reach a value of USD 8.05 billion by 2021, growing at a CAGR of 8.2% from 2016. The market drivers include increase in soil deficiencies, increase in demand for biofuels, macronutrients antagonism, and increase in demand for high-quality yield.
"Zinc segment is projected to be the largest and fastest-growing segment, by type, from 2016 to 2021."
Zinc deficiency is one of the most common micronutrient deficiencies in crops, especially in developing countries. To meet this zinc requirement, farmers are adopting more zinc-based micronutrients, thereby driving the growth of the agricultural micronutrients market.
"Soil mode of application is projected to be the fastest-growing and largest segment from 2016 to 2021."
Soil is the most commonly used mode of application for agricultural micronutrients, because of its user friendliness and economical nature.
"Asia-Pacific is projected to be the fastest-growing segment from 2016 to 2021."
The demand for agricultural micronutrients is driven by the increasing demand for nutritious food by the customers. Increased awareness among farmers about the benefits of micronutrients, increased agriculture practices & technologies, growing economy & disposable income, and management of crop production costs are also driving the Asia-Pacific agricultural micronutrients market.
The breakdown of the primaries on the basis of company, designation, and region, conducted during the research study, are as follows:
By Company Type: Tier 1: 42%, Tier 2: 19%, and Tier 3: 39%
By Designation: Director level: 28%, C Level: 24%, and other levels: 48%
By Region: North America: 15%, Europe: 34%, Asia-Pacific: 35%, and Latin America: 16%
Major players include the following:
- Agrium Inc. (U.S.)
- AkzoNobel N.V. (Netherlands)
- BASF SE (Germany)
- The Mosaic Company (U.S.)
- Yara International ASA (Norway)
The other players, who also have a strong presence in this market, include the following:
- Auriga Industries A/S (Denmark)
- Coromandel International Ltd. (India)
- SAPEC SA (Belgium)
- Haifa Chemicals Ltd. (Israel)
- Valagro (Italy)
Reasons to buy this report:
From an insight perspective, this research report focuses on various levels of analyses—industry analysis (industry trends), value chain, and company profiles—which together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the global agricultural micronutrients market, high-growth regions, and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on strategies adopted by agricultural micronutrients players to expand their market presence
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the agricultural micronutrients market
- Market Development: Comprehensive information about lucrative emerging markets—the report analyzes the markets for agricultural micronutrients across regions
- Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the global agricultural micronutrients market
- Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of the leading players in the global agricultural micronutrients market
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