Persistence Market Research is released new forthcoming report on title "Agriculture Micronutrients Market: Global Industry Analysis and Forecast to 2020".
New York, NY -- (SBWIRE) -- 11/20/2014 -- Agricultural micronutrients are the essential nutrients that are required to regulate certain physiological activities in crops to enhance their quality and productivity. The deficiency in micronutrients content results in decline in growth rate, yellowing of leaves and withering of buds of the crops. The major agricultural micronutrients include zinc, manganese, boron, copper, molybdenum, and iron.
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Cereals, pulses, oilseeds, fruits and vegetables are the major end-user agricultural segments of agriculture micronutrients. The demand for cereals has been increasing on account of increasing global population. Due to increasing pollution the soil are losing their nutrient-qualities leading to decreased productivity or barrenness. Additionally, the agricultural land is declining globally as they being occupied by industries and buildings. This has increased pressure on the agricultural sector to increase their productivity. In order to meet the global cereals demand, micronutrients are being used in increased quantities to enhance crop productivity, which has led to their increasing demand.
Agriculture micronutrients can be applied on crops in three different ways namely soil application, foliar and fertigation. Soil application dominated the global agriculture micronutrient sales in 2013.
The micronutrients are available in chelated and non-chelated forms. Global agriculture micronutrients market is being dominated by non-chelated micronutrients. Among types, zinc dominated the global agriculture micronutrients market in 2013, followed by copper and iron.
One of the major restraints for the agriculture micronutrients market is lack of awareness among farmers about their benefits. Most of the farmers in the developing and underdeveloped countries rely solely on the existing production capacity of their land, either due to lack of awareness or lack of money to invest in buying agriculture micronutrients for farming. Critical application dosage is another restraint for agriculture micronutrients market wherein it is tough for a farmer to gauge the appropriate quantity of micronutrients to be applied to soil.
Certain opportunities lie for the agricultural micronutrients market in the form of technological development and increase in contract farming. The large companies in the agriculture micronutrients market are engaged in research and development to improve their products, many of whom have been successful. This has increased the scope for agriculture micronutrients in the long term. The Increasing contract farming has been changing the farming approach globally wherein the contract farmers incorporate result-oriented agricultural practices. With the declining productivity levels, contract farming is expected to increase substantially in the long run leading to the growth in demand for crop-productivity related elements, including agriculture micronutrients.
Among regions, Asia Pacific was the largest market for agriculture micronutrients, followed by North America. North America is expected to grow at a faster rate during the forecast period due to agricultural developments taking place in the region, especially in the U.S.
Agriculture Micronutrients market is fragmented in nature due to the presence of large number of players. There are also a large number of regional players that dominate in the domestic market. The major players in agriculture micronutrients market include Agrium, AkzoNobel, BASF, Mosaic, Yara International, Aries Agro, Arysta LifeScience, Wolf Trax Inc., Wilbur-Ellis Company, BMS Micronutrients, Cheminova, Valagro, Tradecorp International, Gujarat State Fertilizers and Chemicals and Haifa Chemicals.
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