The global agricultural micronutrients market is predicted to rise at a CAGR of 8.40% between the forecast periods of 2017-2025. The market is driven by increasing soil deficiency across the globe, increasing biofuel demands due to depleting oil reserves and rising demand for food products on account of the growing worldwide population.
The global agricultural micronutrients market is categorized on the basis of market by type, crop type and mode of applications. Agricultural micronutrients market by type includes boron, chlorine, iron, zinc, manganese, copper and others. On the basis of crop type, the market is divided into fruits & vegetables, oilseeds & pulses, cereals & grains, and other crops. The various mode of applications includes foliar, soil application, seed treatment fertigation, etc.
The global agricultural micronutrients market covers regions like North America, Europe, Asia Pacific and Rest of World. The Asia Pacific region accounted for a major share of the global market in 2016 and is predicted to continue its dominance throughout the forecast period. The Asia-Pacific is the highest populated region in the world with a significantly large demand for food products. This, in turn, has resulted in an increased demand for the agricultural nutrient market in this region.
Mergers and acquisitions seem to be the primary policy employed by major market players for the global agricultural nutrients market. Some of these players include Bayer CropScience Ag, Agrium Inc, Adama Agricultural Solutions Ltd, FMC Corporation, Coromandel International Limited, The Dow Chemical Company, Yara International Asa, SAPEC, Mosaic, BASF, AkzoNobel, Haifa Chemicals Ltd Valagro, Nutra-Flo Company (K- Flo), and Verdesian Life Sciences.