Global Agriculture Micronutrients Market, 2016 - 2024
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<strong>Global</strong> <strong>Agriculture</strong> <strong>Micronutrients</strong> <strong>Market</strong>, <strong>2016</strong> - <strong>2024</strong><br />
Persistence <strong>Market</strong> Research<br />
<strong>Global</strong> <strong>Agriculture</strong> <strong>Micronutrients</strong> <strong>Market</strong> is<br />
Expected to be Valued at US$ 13,344.2 Mn<br />
by <strong>2024</strong>: Persistence <strong>Market</strong> Research<br />
Persistence <strong>Market</strong> Research 1
<strong>Global</strong> <strong>Agriculture</strong> <strong>Micronutrients</strong> <strong>Market</strong>, <strong>2016</strong> - <strong>2024</strong><br />
Persistence <strong>Market</strong> Research Released New <strong>Market</strong> Report According to a new market report<br />
published by Persistence <strong>Market</strong> Research “<strong>Global</strong> <strong>Market</strong> Study on <strong>Agriculture</strong><br />
<strong>Micronutrients</strong>: Established Players Are Focusing to Strengthen Partnerships<br />
along the Value Chain to Gain Better <strong>Market</strong> Access over the Forecast Period <strong>2016</strong><br />
- <strong>2024</strong>,” the global agriculture micronutrients market was valued at US$ 6,576.9 Mn in 2015<br />
and is anticipated to expand at a CAGR of 8.3% from <strong>2016</strong> to <strong>2024</strong>, to reach a market value<br />
of US$ 13,344.2 Mn by <strong>2024</strong>.<br />
Currently, the agriculture micronutrients market is mainly driven by factors such as<br />
increasing the need for effective fertilizers due to poor soil quality and high demand for<br />
quality and uniform yield, due to increasing population across the globe. However, factors<br />
such as lack of awareness among farmers in developing countries regarding dosage and<br />
proper application of micronutrients are the major factor expected to restrain the growth of<br />
the global agriculture micronutrients market during the forecast period.<br />
View Detail Report With TOC: http://www.persistencemarketresearch.com/marketresearch/agriculture-micronutrients-market.asp<br />
The global agriculture micronutrients market is anticipated to expand at a CAGR of 8.3% in<br />
terms of revenue from <strong>2016</strong> to <strong>2024</strong>, to reach a market value of US$ 13,344.2 Mn by <strong>2024</strong>.<br />
The agriculture micronutrients market is segmented on the basis of region into North<br />
America, Latin America, Europe, Asia-Pacific, and the Middle East and Africa. The Asia Pacific<br />
agriculture micronutrients market is expected to be the highest contributor to the overall<br />
global agriculture micronutrients market in terms of value share, followed by North America,<br />
by 2015 end. The MEA agriculture micronutrients market is expected to be the fastest<br />
growing market over the forecast period (<strong>2016</strong>–<strong>2024</strong>). Growth of the Asia Pacific agriculture<br />
micronutrients market is primarily attributed to the increasing agriculture contribution<br />
towards GDP. Moreover, rise in demand for effective fertilizers due to poor soil quality is also<br />
expected to support growth of the Asia Pacific agriculture micronutrients market over the<br />
forecast period. The North America agriculture micronutrients is expected to expand at a<br />
CAGR of 7.9% in terms of value over the forecast period (<strong>2016</strong>-<strong>2024</strong>). The Europe agriculture<br />
micronutrients market is expected to witness moderate growth over the forecast period,<br />
Persistence <strong>Market</strong> Research 2
<strong>Global</strong> <strong>Agriculture</strong> <strong>Micronutrients</strong> <strong>Market</strong>, <strong>2016</strong> - <strong>2024</strong><br />
accounting for 13.7% value share of the overall market in 2015, and expanding at a<br />
moderate CAGR of 7.2% in terms of value over the forecast period (<strong>2016</strong>–<strong>2024</strong>).<br />
The report provides detailed information about various market trends and offers analysis and<br />
insights into the potential of the agriculture micronutrients market globally. Furthermore, the<br />
agriculture micronutrients market is segmented on the basis of product type into boron,<br />
copper, iron, manganese, molybdenum, zinc, and others.<br />
The zinc product type segment is expected to be the highest contributor to the agriculture<br />
micronutrients market in terms of value share, followed by the boron segment by <strong>2016</strong> end.<br />
The molybdenum product type segment is expected to be the fastest growing segment in<br />
the overall market over the forecast period (<strong>2016</strong>–<strong>2024</strong>). The segment is expected to<br />
expand at a CAGR of 10.2% over the forecast period in terms of revenue.<br />
On the basis of application, the global agriculture micronutrients market is segmented into<br />
fertigation, foliar, soil, seed treatment and others.<br />
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Key players in the global agriculture micronutrients market include ADAMA Agricultural<br />
Solutions Ltd., Agrium Inc., Akzo Nobel N.V., Auriga Industries A/S, BASF SE, Bayer Crop,<br />
Compass Minerals International Inc., E. I. DUPONT DE NEMOURS AND COMPANY, Land<br />
O’Lakes Inc. Monsanto Co., Nufarm Limited, Sumitomo Chemical Co., Ltd., Syngenta<br />
International AG, The Dow Chemical Co., The Mosaic Company, Yara International ASA, ATP<br />
Nutrition, Baicor, L.C., Brandt Consolidated Inc., Grow More Inc., Kay-Flo, Micnelf USA Inc.,<br />
Nutra-Flo Company (K- Flo), Stoller USA, Inc., Verdesian Life Sciences, LLC, Merck KGaA, and<br />
Sigma-Aldrich Corporation.<br />
<strong>Market</strong> Bytes:<br />
According to this report analysis, agriculture micronutrients are gaining popularity globally<br />
for obtaining better yield output. The global agriculture micronutrients market value is<br />
anticipated to increase from US$ 6,576.9 Mn in 2015 to US$ 13,344.2 Mn by <strong>2024</strong>,<br />
Persistence <strong>Market</strong> Research 3
<strong>Global</strong> <strong>Agriculture</strong> <strong>Micronutrients</strong> <strong>Market</strong>, <strong>2016</strong> - <strong>2024</strong><br />
expanding at a CAGR of 8.3% during the forecast period (<strong>2016</strong>–<strong>2024</strong>). Increasing need for<br />
effective fertilizers due to poor soil quality and high demand for quality and uniform yield in<br />
view of the increasing population across the globe are factors anticipated to drive the growth<br />
of the agriculture micronutrients market over the forecast period. Demand for agriculture<br />
micronutrients across the globe is growing steadily and can be attributed to the various<br />
benefits associated with them. The major benefits that they offer include the fact that they<br />
help to improve a quality of soil used for agriculture and to increase the production of biofuel<br />
crops. Growing contribution of agriculture in GDP is further fueling the growth of the<br />
agriculture micronutrients market currently.<br />
One of the major restraints for a growth of the agriculture micronutrients market is the lack<br />
of awareness among farmers in developing countries regarding appropriate dosage and<br />
proper application of micronutrients, thereby limiting its demand. This factor is anticipated<br />
to restrain the growth of the agriculture micronutrients market over the forecast period.<br />
In 2015, among the various product type segments, the zinc product type segment was<br />
valued at US$ 2,504.7 Mn and it is estimated to reach a market value of US$ 2,697.5 Mn by<br />
the end of <strong>2016</strong>. The boron product type segment was valued at US$ 953.6 Mn in 2015 and<br />
is estimated to reach US$ 1,034.1 Mn by the end of <strong>2016</strong>.<br />
In 2015, the soil application segment accounted for 47.6% value share of the overall market,<br />
which is expected to rise up to 48.7% by the end of <strong>2024</strong>.<br />
In terms of volume, the Asia Pacific agriculture micronutrients market dominated the overall<br />
market in 2015, and it is expected to continue to dominate the market over the forecast<br />
period between <strong>2016</strong> and <strong>2024</strong> as well, as compared to other regions. In terms of value, the<br />
Asia Pacific agriculture micronutrients market is anticipated to expand at a CAGR of 9.0%<br />
during <strong>2016</strong> to <strong>2024</strong>.<br />
The price of agriculture micronutrients is forecast on the basis of the historic price trend and<br />
several other factors, including production, demand, import & export, and end-stock of<br />
agriculture micronutrients.<br />
Persistence <strong>Market</strong> Research 4
<strong>Global</strong> <strong>Agriculture</strong> <strong>Micronutrients</strong> <strong>Market</strong>, <strong>2016</strong> - <strong>2024</strong><br />
Key players in the global agriculture micronutrients market include ADAMA Agricultural<br />
Solutions Ltd., Agrium Inc., Akzo Nobel N.V., Auriga Industries A/S, BASF SE, Bayer Crop,<br />
Compass Minerals International Inc., E. I. DUPONT DE NEMOURS AND COMPANY, Land<br />
O’Lakes Inc. Monsanto Co., Nufarm Limited, Sumitomo Chemical Co., Ltd., Syngenta<br />
International AG, The Dow Chemical Co., The Mosaic Company, Yara International ASA, ATP<br />
Nutrition, Baicor, L.C., Brandt Consolidated Inc., Grow More Inc., Kay-Flo, Micnelf USA Inc.,<br />
Nutra-Flo Company (K- Flo), Stoller USA, Inc., Verdesian Life Sciences, LLC, Merck KGaA, and<br />
Sigma-Aldrich Corporation.<br />
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<strong>Global</strong> <strong>Agriculture</strong> <strong>Micronutrients</strong> <strong>Market</strong>, <strong>2016</strong> - <strong>2024</strong><br />
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