New Market Report: Micronutrient Market - Global Trends and Forecast to 2017

Micronutrients are essential elements that are used for growth and regulation of plant's vital physiological activities. Though these are required in trace amounts, they are as important as macronutrients. Globally, agriculture micronutrients application has gained importance in the recent past due to its effectiveness on overall quality and productivity of crops. The deficiency of micronutrients has increased worldwide due to intensive cropping pattern, extensive use of chemical fertilizers, mining of micronutrient reserves, and extensive irrigation facilities. Soil deficient in micronutrients affects plant growth and yield. To replenish micronutrients requirement at crop level, crops are applied with micronutrients according to nutrient deficiency and specific requirement. Agriculture micronutrient market growth has increased to a significant extent because of increasing global micronutrient deficiency in soil and industrialization leading to shrinkage in world's agricultural land.

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In 2011, Asia-Pacific was the largest market accounting for 53% of overall agriculture micronutrient market by volume. North America and Asia-Pacific together accounted for 73% of the global market volumes in 2011. North American agriculture micronutrient market is expected to show potential growth in the next five years. The deficiency in micronutrients content results in stunted growth, withering of buds, yellowing of leaves, etc. In 2011, zinc dominated the overall global agriculture micronutrient market and accounted for 35%

Cereals, fruits, and vegetable crops are the major consumers of agriculture micronutrients. With increased population, demand for cereals has also increased substantially over the past two decades. To meet the global cereals demand, micronutrients are significantly applied to increase the crop productivity. Soil application, foliar, and fertigation are the three application modes of agriculture micronutrients. Soil application has the largest share in the global agriculture micronutrients market. Micronutrients are applied in chelated or non-chelated form. Non-chelated micronutrients form has dominated the global market with 94% usage while chelated form has only 6% share.

The report provides full analysis of the world's leading players in the agriculture micronutrient industry, major micronutrient types and their forms, major application modes and crop types, with a clear insight and overview on the developments and trends. Major demand in agriculture micronutrients market is projected to come from countries such as China, U.S., Canada, Indonesia, Poland, Italy, Brazil, India, etc. The growth has also attributed to the increasing demand for standard quality and productivity of agriculture produce. The report provides detailed analysis on the current phase of the industry and the competitive strategies adopted by key players in the agriculture micronutrient industry.

Scope of the report

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