NEW YORK, Dec. 18, 2016 /PRNewswire/ -- '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 typeBy applicationBy crop typeBy regionOn the basis of product type, the market is segmented into:
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:
FertigationFoliarSoilSeed treatmentOthersThe 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:
Pulses and oilseeds
Fruits and vegetables
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 AmericaLatin AmericaEuropeAsia PacificMiddle East and Africa
Read the full report:
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
Contact Clare: email@example.com
Intl: +1 339-368-6001
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/agriculture-micronutrients-market--global-industry-analysis-and-forecast-2016---2024-300380766.html