Global Micronutrients Market – Industry Analysis, Size, Share, Growth, Trends And Forecast, 2013 – 2019
The human body needs nutrients in small quantities which are very necessary for proper physiological functioning and growth. These nutrients are known as micronutrients. Humans and other living organisms require these micronutrients throughout their life span. Micronutrients are also essential elements for growth of the plants and their productivity. Due to extensive cropping the amount of micronutrients present in soil is drastically decreased. Intensive use of chemicals and fertilizers results in less productive soil. To fulfill basic need of micronutrients to substantial level crops and plans are provided with some amount of micronutrients according to their need.
By end users, fruits, vegetable crops and cereals are the major areas of agricultural sector having demand for micronutrients. Agricultural micronutrients find applications in fertigation, foliar and soil etc. Soil application is most dominating one in global market. Micronutrients can be applied in chelated form or non-chelated. Non-chelated form is in demand with largest global share. Zinc was overall dominating micronutrient. Some other micronutrients are boron, manganese, molybdenum, copper, iron, cobalt, nickel and chlorine. Asia-Pacific is the largest market for agricultural micronutrients followed by North America, Europe and RoW. North America is still expected to grow in this market, although at a lower growth rate than the rest of the regions.
One of the major driving factors for this market is increasing deficiency of micronutrients in soil. Industrialization is demanding more and more land resulting in shortage of land for agriculture; hence need for more productivity. Increase in population leads to demand for more cereals. Use of micronutrients in antiretroviral therapy for HIV positive people is one of the future trends.
Agro-K Corporation, BASF SE, Agrium Inc. Aries Agro Limited, Cheminova A/S, Bms Micro-Nutrients N.V. Baicor L.C. Atp Nutrition, Deepak Fertilisers And Petrochemicals Corporation Ltd, Coromandel International Ltd, Gujarat State Fertilizers & Chemicals Ltd. and Micnelf Usa Inc. are some of the key players in this market.
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