Key players are BASF SE, Yara International (Norway), Agrium Inc. (Canada), Haifa (Israel), Tradecorp (Spain)
(PRWEB) March 04, 2015
This report by MarketsandMarkets provides information about the growth trends in the Micronutrient Market. According to the report, the global market is expected to reach $6,474.6 million by 2018. This growth in the market is mainly driven by growing demand for micronutrients from different segments of the global agricultural industry. The report segments the global market on the basis of the types of products and their applications. Apart from that, it also provides information about the demand patterns for the industry across different geographic regions.
Browse Micronutrient Market through detailed TOC, figures and data tables spread across 273 report pages.
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Demand for micronutrients is growing at a rapid rate. According to the report, rising deficiency in the soil and reduction of agricultural land are some of the major factors contributing to the rising demand of micronutrients. Application of these products improves crop quality and soil productivity. According to the report, intensive farming practices and extensive use of fertilizers are creating deficiency of micronutrients. According to the market, the global agriculture micronutrients market is expected to witness major growth over the next few years.
According to the report, the global market for micronutrients is expected to be dominated by Asia Pacific. The applications segment of the market is expected to be driven by the soil applications. Availability of micronutrient changes with soil types and climate. According to the report, hydroponics and seed treatment are relatively new technologies driving the global market. According to the report, the Cereals and fruit and vegetables segments are expected to consume the largest share of the global market.
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According to the report, the Asia Pacific region of the micronutrient market is expected to grow at a healthy CAGR of 8.3% by 2018. The European region on the other hand is expected to witness growth at a steady CAGR of 5.5% by 2018. The report expects the global market for micronutrients to reach $6,474.6 Million by the end of the year 2018.
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