Asia-Pacific Micronutrient Fertilizer Market - Segmented by Application, Form, Function, and Geography - Growth, Trends, and Forecast (2018 - 2023)

SKU ID : INH- 12346943

Publishing Date : 01-Apr-2018

No. of pages : 90


  • India is expected to witness the fastest growth among the Asia-Pacific countries and is expected to witness a CAGR of 8.5% during the forecast period, 2018-2023. The country is one of largest consumers of micronutrient raw materials and is the fastest-growing, among other countries in the world.

    Increasing Deficiency of Micronutrients in the Soil

    Studies have revealed that in India around 40%-55% of soils are excessively deficient in micronutrients, like zinc; also around 25%-30 % deficient in boron. Deficiency of other micronutrients occurs in 15% of the soils. These deficiencies are responsible for the significant reduction in yield. In Asia-Pacific, governments are recommending the usage of micronutrient fertilizers in crop production. Increasing awareness among farmers and changes in demand for quality food are motivating farmers to adapt micronutrient fertilizers. Micronutrients are responsible for promoting plant metabolic activities and their growth; they play a vital role in improving the quality, size, color, taste, input use efficiency of fertilizers, water use, and disease resistance.

    China is One of the Largest Markets

    The Chinese micronutrient fertilizer market was worth USD 132.75 million in 2016. The market in the country is expected to register a CAGR of 8.27% during the forecast period, 2018-2023. Increased focus on agricultural productivity and government subsidies are the major factors for the growth of the Chinese micronutrient fertilizer segment, while the lack of awareness about micronutrient fertilizers is restraining the market’s growth.


    Reasons to Purchase the Report

    • Identify the dominating and fastest-growing countries in the Asia-Pacific micronutrient fertilizer market and their growth trends during the forecast period
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