Crop Micronutrients Market
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<strong>Crop</strong> <strong>Micronutrients</strong><br />
<strong>Market</strong><br />
Opportunity Analysis and Industry Forecast, 2016-2023<br />
Global Opportunity Analysis and<br />
Industry Forecast,<br />
2018-2025
Introduction<br />
• The global crop micronutrients market is projected to reach $11,532.36<br />
million by 2025, registering a CAGR of 8.3% from 2018 to 2025<br />
• <strong>Crop</strong> micronutrients are essential nutrients required by plants for growth<br />
and other metabolic activities<br />
• They play a major role in improving quality, color, taste, efficiency of<br />
fertilizers, water use, disease resistance, and others. They also aid in the<br />
development of large as well as strong roots, help build complete proteins<br />
and compounds, and promote better plant immunity<br />
• The increase in agricultural practices and necessity of high-quality<br />
agricultural produce are anticipated to drive the crop micronutrients market<br />
• Asia-Pacific was the largest market for crop micronutrients in terms of both<br />
value and volume in 2017
Key Factors of the <strong>Market</strong><br />
• <strong>Crop</strong> micronutrients maintain the nutrient level in crops & soil to enhance the<br />
productivity and growth of crops. These nutrients find extensive applications in<br />
agribusiness, thereby driving the crop micronutrients industry<br />
• Growth in awareness about benefits of micronutrients among farmers & growers,<br />
increase in demand for healthy & nutritious food, surge in demand for biofuels fuel<br />
the global crop micronutrients market<br />
• Effectiveness of micronutrients for crop yield and productivity, increased awareness<br />
among growers about the benefits of micronutrients and shrinkage of agricultural<br />
land, are also driving the global crop micronutrients market<br />
• In 2017, the soil application segment accounted for more than 50% share of the<br />
global crop micronutrients market in terms of value<br />
• The requirement of effective fertilizers is on the rise due to poor soil quality, and<br />
therefore, effectiveness of micronutrients for enhancing the crop yield and<br />
productivity have fueled the popularity of crop micronutrients among farmers in the<br />
recent years
<strong>Crop</strong> <strong>Micronutrients</strong> <strong>Market</strong><br />
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Key Benefits of the <strong>Market</strong><br />
• The chelated micronutrients segment was the highest contributor to the<br />
crop micronutrients market in 2017, and is projected to grow at a CAGR of<br />
8.7%.<br />
• The demand for fruits & vegetables is continuously increasing around the<br />
globe, especially in developing countries such as China, India, and Brazil,<br />
and is projected to grow at CAGR of 8.7% over the forecast period<br />
• Asia Pacific is projected to exhibit rapid growth in the crop micronutrients<br />
market, owing to growth in its economy with a large population base, and<br />
is projected to grow at the most astounding CAGR of 8.9% from 2018 to<br />
2025<br />
• China accounted for the highest share accounting approximately 40% in<br />
the Asia-Pacific crop micronutrients market, in 2017<br />
• In 2017, the soil application segment accounted for 50% of the crop<br />
micronutrients market share and is expected to grow at a CAGR of 8.9%
<strong>Market</strong> Segmentation
Key Players of the <strong>Market</strong><br />
• Akzo Nobel N.V.<br />
• Aries Agro Ltd.<br />
• Baicor, L.C.<br />
• BASF SE.<br />
• Compass Minerals International, Inc.<br />
• DowDuPont Inc.<br />
• The Mosaic Company<br />
• Nutrien Ltd.<br />
• Western Nutrients Corporation and<br />
• Yara International<br />
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