Global Micronutrient Fertilizers Market | Growth, Trends, and Forecast (2018 - 2023)
Global Micronutrient Fertilizers Market - Segmented by Product Type, Form, Application, and Geography - Growth, Trends, and Forecast (2018 - 2023)

PUBLISHED

MAR 2018

Global Micronutrient Fertilizers Market - Segmented by Product Type, Form, Application, and Geography - Growth, Trends, and Forecast (2018 - 2023)

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In 2017, the global micronutrient fertilizers market was valued at USD 4169 million and is expected to exhibit a CAGR of 8.2% during 2018-2023 (the forecast period). Grains and cereal crops account for the majority of global demand. With respect to the forms of micronutrients, non-chelated forms are the common ones, as these are stable and easily soluble.

Increasing Micronutrient Deficiency in Soil Driving Demand

The global micronutrient fertilizer market is growing at an encouraging rate, given the increasing occurrence of soil and micronutrient depletions across the regions. As the natural availability of micronutrients is declining, it is paving the way for greater market growth of micronutrient-based fertilizers. The issue of food security, along with shrinking farm lands, further necessitate the usage and application of micronutrient fertilizers in fields. Low acceptance and lack of product knowledge, among the farming community, are the major hindrance for the demand growth. Product and application innovation pertaining to region-specific needs and rising awareness for upgraded agricultural practices, involving environment friendly intensive farming, are likely to help the industry to penetrate further into developing regions.

Growing Food Demand and Shrinking Farm Land Leveraging the Market

The growing population, and the increase in the disposable income of the population in developing countries have increased the consumption of agricultural products. This factor is leading to an increase in the demand for agricultural micronutrients, like zinc, and manganese, in order to meet the growing demand for food.

The fruits & vegetables segment of the market is expected to register the fastest growth rate, in terms demand for micronutrients, during the forecast period. This segment is likely to register a CAGR of 8.6%. The oil seeds and pulses segment ranked third, in terms of market revenue in 2017. Other crop types, such as decorative plants and flowers, are also likely to offer opportunities for micronutrient manufacturers, as stated in the report. By geography, Asia-Pacific led the market in 2017, and held over 42% of the share. With regards to the demand growth, North America followed Asia-Pacific. However, the region is expected to exhibit the fastest growth rate in the coming years.

Key Developments in the Market

The global micronutrient fertilizers market is witnessing a number of new product launches, mergers and acquisitions, and partnerships between the global players.

  • November 2017: Verdesian Life Sciences introduced three MicroSync Specialty Granular Micronutrient products. The formulations are designed to be blended with NPK granular fertilizers, and are used on broad care crops.

Key Players: The Mosaic Company, FMC Corporation, Akzonobel NV, Yara International, BASF SE, Agrium Inc., Valagro Spa, Coromandel International Limited, Wolf Trax, Sapec Group, Auriga Group, ATP Nutrition Ltd, Wilbur-Ellis Company (US), The Andersons Plant Nutrition (Nulex Inc.), Stoller Enterprises Inc., Zuari Agro Chemicals Ltd, Bms Micro-Nutrients NV, Baicor LC, Arysta Lifescience Corporation, Aries Agro Ltd., Drexel Chemical, Old Bridge Chemicals Inc.

Reasons to Purchase This Report

  • Global, regional, and country-level analysis, along with forecasts of the studied market
  • Study of the effect of exogenous & endogenous factors, viz. demographic, economics, and political factors, among others, which affect the global market
  • Porter’s five forces framework, incorporating the factors that are influencing each force to determine the intensity of competition
  • Segment and sub-segment-level analysis of the market over the review and forecast period
  • Identification of the key factors instrumental in changing the market scenario, exploiting new opportunities and gaining a competitive edge
  • SWOT analysis for the key players and a detailed study of their current strategic interests and key financial performance indicators

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1. INTRODUCTION                                          

                1.1 MARKET DEFINATION                          

                1.2 KEY FINDINGS OF THE STUDY                          

2. RESEARCH METHODOLOGY                                  

                2.1 STUDY DELIVERABLES                          

                2.2 MARKET SEGMENTATION                   

                2.3 STUDY ASSUMPTIONS                          

                2.4 RESEARCH METHODOLOGY               

                2.5 RESEARCH PHASES                               

3. MARKET OVERVIEW                                 

4. MARKET DYNAMICS                                 

                4.1 DRIVERS                     

                                4.1.1 GROWING FOOD DEMAND AND SHRINKING FARM LAND 

                                4.1.2 MICRONUTRIENT DEFICIENCY      

                                4.1.3 INCREASED FOCUS ON AGRICULTURAL PRODUCTIVITY    

                                4.1.4 INCREASED FOCUS ON RESEARCH AND PRODUCT INNOVATION  

                                4.1.5 GOVERNMENT AND NON-GOVERNMENT ORGANISATIONS ENCOURAGING MICRONUTRIENT USE       

                4.2 CONSTRAINTS                         

                                4.2.1 LACK OF AWARENESS AND AVAILABILTY

                                4.2.2 MICRONUTRIENT TOXICITY            

4.3 PORTER'S FIVE FORCES ANALYSIS                                 

                4.3.1 BARGAINING POWER OF SUPPLIERS                          

                4.3.2 BARGAINING POWER OF BUYERS                

                4.3.3 THREAT OF NEW ENTRANTS                         

                4.3.4 THREAT OF SUBSTITUTE PRODUCTS AND SERVICES                          

                4.3.5 DEGREE OF COMPETITION                              

5. MARKET SEGMENTATION                                     

                5.1 BY TYPE                       

                                5.1.1 ZINC          

                                5.1.2 MANGANESE         

                                5.1.3 COPPER   

                                5.1.4 BORON     

                                5.1.5 MOLYBDENUM      

                                5.1.6 IRON         

                                5.1.7 OTHERS (CHLORINE, NICKEL, AND COBALT ETC.) 

                5.2 BY FORM                     

                                5.2.1 CHELATED              

                                5.2.2 NON-CHELATED   

                5.3 BY CROP TYPE                          

                                5.3.1 GRAINS AND CEREALS     

                                5.3.2 OILSEEDS AND PULSES    

                                5.3.3 FRUITS & VEGETABLES     

                                5.3.4 OTHERS   

                5.4 BY FUNCTION                           

                                5.4.1 SOIL           

                                5.4.2 FOLIAR     

                                5.4.3 FERTIGATION       

                                5.4.4 OTHERS   

                5.5 BY GEOGRAPHY                       

                                5.5.1 NORTH AMERICA 5.5.1.1 United States

                                                5.5.1.2 Canada

                                                5.5.1.3 Mexico

                                                5.5.1.4 Others

                                5.5.2 EUROPE   

                                                5.5.2.1 Germany

                                                5.5.2.2 UK

                                                5.5.2.3 France

                                                5.5.2.4 Spain

                                                5.5.2.5 Itlay

                                                5.5.2.6 Russia

                                                5.5.2.7 Others

                                5.5.3 ASIA-PACIFIC        

                                                5.5.3.1 China

                                                5.5.3.2 Japan

                                                5.5.3.3 India

                                                5.5.3.4 Australia

                                                5.5.3.5 Others

                                5.5.4 SOUTH AMERICA 

                                                5.5.4.1 Brazil

                                                5.5.4.2 Argentia

                                                5.5.4.3 Others

                                5.5.5 AFRICA    

                                                5.5.5.1 South Africa

                                                5.5.5.2 Others

6. COMPETITIVE LANDSCAPE                                    

                6.1 MAJOR STRATEGIES ADAPTED BY GLOBAL PLAYERS                             

                                6.1.1 MERGERS AND ACQUISITIONS      

                                6.1.2 JOINT VENTURES OR AGREEMENT             

                                6.1.3 NEW PRODUCT LAUNCHES             

                6.2 MOST ACTIVE COMPANIES BY MARKET STRATEGIES                             

                6.3 MARKET SHARE ANALYSIS                

7. COMPANY PROFILES                                

                7.1 THE MOSAIC COMPANY                        

                7.2 FMC CORPORATION                               

                7.3 AKZONOBEL NV                       

                7.4 YARA INTERNATIONAL ASA                              

                7.5 BASF SE                      

                7.6 AGRIUM INC.                             

                7.7 HAIFA GROUP                           

                7.8 VALAGRO SPA                          

                7.9 COROMANDEL INTERNATIONAL LIMITED                    

                7.10 WOLF TRAX                             

                7.11 SAPEC GROUP                        

                7.12 AURIGA GROUP                     

                7.13 ATP NUTRITION LTD.                          

                7.14 WILBUR-ELLIS COMPANY (US)                         

                7.15 THE ANDERSONS PLANT NUTRITION (NULEX INC)                               

                7.16 STOLLER ENTERPRISES INC.                           

                7.17 ZUARI AGRO CHEMICALS LTD.                        

                7.18 BMS MICRO-NUTRIENTS NV                            

                7.19 BAICOR L.C.                             

                7.20 ARYSTA LIFESCIENCE CORPORATION                        

                7.21 ARIES AGRO LTD.                 

                7.22 DREXEL CHEMICAL                              

                7.23 OLD BRIDGE CHEMICALS INC.                          

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