Boston, MA -- (SBWIRE) -- 04/01/2014 -- Micronutrient Market by Type (Zinc, Manganese, Boron, Copper, Molybdenum, Iron), Form (Chelated & Non Chelated), Application Mode (Soil, Foliar, Fertigation), Crop Type & Geography - Global Trends and Forecast to 2018
The essential elements needed by plants are known as micronutrients; they are required in trace amounts. Although they are in small quantity, they are as important as macronutrients. Micronutrients include copper (Cu), boron (B), manganese (Mn), chlorine (Cl), iron (Fe), molybdenum (Mo), and zinc (Zn). They have acquired a lot of attention in the agriculture in recent years. Now it is possible to give plants added micronutrients by using foliar sprays and supplements designed for better plant health. If the supply of one or more of these elements is inadequate, yields will be reduced and the quality of crop products will be affected.
For micronutrients to be essential for plants, they need to satisfy three criteria: (1) the plant cannot grow and reproduce normally without the element, (2) its action must be specific and unable to be replaced by any other micronutrient, and (3) its action must be direct. The agriculture micronutrients market has gained worldwide importance in the recent past due to its effectiveness in terms of quality and productivity of crops. Zinc deficiency is the most abundant micronutrient problem throughout the world which is affecting many crops, including the staples namely, rice, corn, and wheat. Boron deficiency is the second-most widespread micronutrient problem. Copper deficiency is important in some parts of the world, such as Europe and Australia. Iron deficiency is important in some regions, especially those in with Mediterranean climate and calcareous soils. The deficiency in micronutrients content results in stunted growth, withering of buds, yellowing of leaves, etc.
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This research classifies the global agriculture micronutrients market on the basis of types, application modes, forms, crop types, and geography. Soil, foliar, and fertigation are the three application modes of agriculture micronutrients. Soil application has the largest share in the global agriculture micronutrients market. The micronutrients can be applied in chelated or non-chelated form. Non-chelated micronutrients form has dominated the global market compared to the chelated micronutrients.
FIGURE 1 AGRICULTURE MICRONUTRIENTS MARKET SHARE, BY GEOGRAPHY, 2012
Source: MarketsandMarkets Analysis
The North American agriculture micronutrients market is anticipated to show potential growth in the next five years. The largest global agriculture micronutrients market is for zinc. The market is anticipated to flourish in the next five years. With the huge market potential and growth, the market is likely to witness a significant change in the industry.
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