[181 Pages Report] The agricultural micronutrients market was valued at USD 5.4 billion in 2016, and is projected to reach USD 8.8 billion by 2022, growing at a CAGR of 8.6% from 2017, in terms of value. In terms of volume, the market is projected to reach 1,681.1 KT by 2022. The objectives of this study are to define, segment, and project the size of the agricultural micronutrients market based on type (zinc, copper, boron, iron, manganese, molybdenum, and others), crop type, mode of application, form, and key regions.
The high growth of the market can be attributed to the increasing micronutrient deficiency in the soil. On the other hand, manufacturers focus on R&D to produce new formulations and innovative modes of application for micronutrient delivery. Along with this, factors such as increased awareness among growers about the benefits of micronutrients, shrinkage of agricultural land, and effectiveness of micronutrients for crop yield and productivity are driving the market for agricultural micronutrients across the globe.
Clients Problem Statement
Our client, a top European pesticide manufacturer, wanted a country-level analysis with market size, trends, and growth rates across North America. They were also keen on identifying the key global players, the fastest-growing applications by region, the regulatory framework, as well as the norms and certifications.
MnM provided an application mapping analysis that helped the client identify the fastest-growing applications, by region. With this, the client was able to identify the region with the fastest projected growth in the forecast years. MnM also provided a market assessment that included the global market size, drivers/restraints, trends, and growth rates across regions. As a result of this study, the client had a clear understanding of the market scenario and end-use applications of biopesticides. Further, we also provided the client with key global players, lucrative regional markets, as well as a competitive landscape. The competition mapping gave the client an understanding of the major players in the market and the growth strategies they adopted.
Revenue Impact (RI)
Our findings helped the client identify the region with the highest growth rate in the forecast years as well as major players in the market and the strategies that they adopt for growth. With the help of the MnM study, the client had a clear understanding of the market scenario and end-use applications of basalt as a micro-nutrient.