Crop Micronutrients Market Major Player Such as Akzo Nobel N.V., Aries Agro Ltd., Baicor, L.C., BASF SE., Compass Minerals International, Inc., DowDuPont Inc., The Mosaic Company, Nutrien Ltd., Western Nutrients Corporation, and Yara International.

Crop micronutrients are essential elements for plant growth and play an important role in balanced crop nutrition. The lack of micronutrients can lead to various diseases in plants such as chlorosis, yellowing of leaves, gummosis, and others that can reduce the quality and quantity of plants. Crop micronutrients maintain the nutrient level in crops & soil to enhance the productivity and growth of crops. These nutrients find extensive applications in agribusiness, thereby driving the crop micronutrients industry. The requirement of effective fertilizers is on the rise due to poor soil quality, and therefore, effectiveness of micronutrients for enhancing the crop yield and productivity have fueled the popularity of crop micronutrients among farmers in the recent years.

The global crop micronutrients market was valued at $6,077.05 million in 2017, and is projected to reach $11,532.36 million by 2025, registering a CAGR of 8.3% from 2018 to 2025. In 2017, the soil application segment accounted for more than 50% share of the global crop micronutrients market in terms of value.

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In terms of value, Asia-Pacific and LAMEA collectively contributed xx share in the global crop micronutrients market in 2017. The key players operating in the crop micronutrients market are Akzo Nobel N.V., Aries Agro Ltd., Baicor, L.C., BASF SE., Compass Minerals International, Inc., DowDuPont Inc., The Mosaic Company, Nutrien Ltd., Western Nutrients Corporation, and Yara International.

Crop micronutrients are the essential nutrients that are required for the growth and balanced nutrition of plants and crops. Micronutrients help in improving the quality as well as the yield of the crops. These are the basic nutrients required in minor amounts to treat deficiency in plants and increase crop yield. Chlorosis, yellowing of leaves, gummosis, and rot are a few illnesses that are found in plants due to insufficiency of micronutrients. Boron, zinc, iron, molybdenum, manganese, copper, and chlorine are some of the major micronutrients that are required by crops and plants. Different applications, for example, fertigation, foliar, and seed treatment are expected to exhibit high demand in future.

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MARKET OVERVIEW

3.1. Market Definition and Scope
3.2. Key Findings

3.2.1. Top investment pocket
3.2.2. Top impacting factors

3.3. Porter's five forces analysis

3.3.1. Bargaining power of suppliers
3.3.2. Bargaining power of buyers
3.3.3. Threat of substitution
3.3.4. Threat of new entrants
3.3.5. Intensity of competitive rivalry

3.4. Market dynamics

3.4.1. Drivers

3.4.1.1. Increasing deficiency of micronutrients in the soil
3.4.1.2. Depleting oil reserves increasing the demand for biofuels
3.4.1.3. Growing worldwide population elevating the demand for food products

3.4.2. Restraints

3.4.2.1. Lack of awareness regarding dosage and proper application of micronutrients among farmers
3.4.2.2. Availability of cheap alternatives and counterfeit products

3.4.3. Opportunities

3.4.3.1. Increase in new methods of farming

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Micro-nutrients act as enzyme co-factors and building blocks that enable plants to build complete proteins and compounds. They also aid in the development of large, strong roots, and boost immunity of the plant. Growth in awareness about benefits of micronutrients among farmers & growers, increase in demand for healthy & nutritious food, surge in demand for biofuels fuel the global crop micronutrients market. However, factors such as lack of awareness among farmers in developing countries regarding dosage and proper application of micronutrients, mining of micronutrient reserves, and availability of cheap alternatives and counterfeit products are the major factor expected to restrain the global crop micronutrients market growth during the forecast period. Furthermore, the adoption of new methods of farming for enhancing profitability fuels the demand for micronutrient fortified products.

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