April 02, 2013 04:08 ET

Market Research Report -- Zinc Dominated the Global Agriculture Micronutrient Market in 2011

ROCKVILLE, MD--(Marketwired - Apr 2, 2013) - has announced the addition of the market research report "Micronutrient Market by Type (Zinc, Manganese, Boron, Copper, Molybdenum, Iron), Form (Chelated & Non-Chelated), Application Mode (Soil, Foliar, Fertigation), Crop type and Geography - Global Trends and Forecast to 2017" to their product offering.

Micronutrients are essential elements that are used for growth and regulation of plant's vital physiological activities. Though these are required in trace amounts, they are as important as macronutrients. Globally, agriculture micronutrients application has gained importance in the recent past due to its effectiveness on overall quality and productivity of crops. The deficiency of micronutrients has increased worldwide due to intensive cropping pattern, extensive use of chemical fertilizers, mining of micronutrient reserves, and extensive irrigation facilities. Soil deficient in micronutrients affects plant growth and yield. To replenish micronutrients requirement at crop level, crops are applied with micronutrients according to nutrient deficiency and specific requirement. Agriculture micronutrient market growth has increased to a significant extent because of increasing global micronutrient deficiency in soil and industrialization leading to shrinkage in world's agricultural land.

In 2011, Asia-Pacific was the largest market accounting for 53% of overall agriculture micronutrient market by volume. North America and Asia-Pacific together accounted for 73% of the global market volumes in 2011. North American agriculture micronutrient market is expected to show potential growth in the next five years. The deficiency in micronutrients content results in stunted growth, withering of buds, yellowing of leaves, etc. In 2011, zinc dominated the overall global agriculture micronutrient market and accounted for 35%.

Cereals, fruits, and vegetable crops are the major consumers of agriculture micronutrients. With increased population, demand for cereals has also increased substantially over the past two decades. To meet the global cereals demand, micronutrients are significantly applied to increase the crop productivity. Soil application, foliar, and fertigation are the three application modes of agriculture micronutrients. Soil application has the largest share in the global agriculture micronutrients market. Micronutrients are applied in chelated or non-chelated form. Non-chelated micronutrients form has dominated the global market with 94% usage while chelated form has only 6% share.

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