Press release
Global Agriculture Micronutrients Market 2022: Leading Players are Bms Micro-Nutrients NV, Drexel Chemical, Aries Agro Ltd., and Old Bridge Chemicals.
Micronutrients such as copper, iron, zinc and boron are considered essential trace elements for plants. As micronutrient deficiencies can lead to various diseases in plants that can reduce the quality and quantity of plants. It is likely that a greater preference to affect genetically modified (GM) seeds worldwide growth market for agricultural micronutrients. The increasing use of chemical fertilizers also drives the growth of micro-nutrients, as it protects crops against insects, ultraviolet radiation and also offers increased performance. Demand for zinc is increasing in several regions, particularly in Asia-Pacific. Due to the deficiency of zinc in the soil, the productivity of agricultural crops decreases. As a result, more and more companies are focusing on providing zinc as micronutrients for agricultural crops. However, factors such as extensive irrigation facilities, the extraction of micronutrient reserves and the increasing use of high chemical fertilizers are leading to a global shortage of micronutrients.
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Global Agriculture Micronutrients Drivers and Restraints:
The increase in demand and consumption of cereals worldwide is leading to the consumption of micronutrients in cereals. Tests are also underway to find several symptoms of iron, copper and zinc deficiency in cereals. As a result, the demand for agricultural micronutrients also depends on the type of deficiency found in crops, oilseeds, legumes, cereals, etc. In addition, new methods of applying micronutrients are being adopted to increase the benefits of micronutrients and improve crop quality. However, the poor acceptance and lack of knowledge of the product in the agricultural community is the biggest barrier to the growing demand.
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Geographic Segmentation:
On the basis of geography, Global Agriculture Micronutrients Market is segmented into regions such as North America, Latin America, Europe, Middle East and Africa, and Asia Pacific. Asia-Pacific accounted for the largest demand for more than 50% of micronutrients in the global market in 2013 due to the growing demand for deficient soils in various regions such as the India, East China, the coasts Australia and parts of Southeast Asia. North America is expected to be one of the fastest growing micronutrient markets during the forecast period. Europe region is also estimated have positive trends in forecasted period.
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Key Players in Global Agriculture Micronutrients:
Major players competing in Global Agriculture Micronutrients Market include Akzonobel NV, Yara International, FMC Corporation, Agrium Inc., BASF SE, Coromandel International Limited, Valagro Spa, Sapec Group, Wolf Trax, ATP Nutrition Ltd, Auriga Group, The Andersons Plant Nutrition (Nulex Inc.), Wilbur-Ellis Company (US), Zuari Agro Chemicals Ltd, Stoller Enterprises Inc., Baicor LC, Arysta Lifescience Corporation, Bms Micro-Nutrients NV, Drexel Chemical, Aries Agro Ltd., and Old Bridge Chemicals.
Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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