Agricultural micronutrients can be defined as nutrients required in small amounts which are necessary for plant growth. Because of their requirement in limited quantities, micronutrients are also known as trace elements. Agricultural micronutrients provide functions such as cell wall development, water absorption, and resistance to plant diseases. The main micronutrients that contribute to crop nutrition are zinc, copper, iron, boron, manganese, and molybdenum.
The deficiency of micronutrients has increased due to intensive cropping patterns, extensive use of chemical fertilizers, mining of micronutrient reserves, and extensive irrigation facilities. This deficiency can result in crop losses and lower crop yield.
Visionary leaders are the leading market players in terms of new developments such as product launches, innovative technologies, and adoption of growth strategies.
These players have a broad product offering that caters to most of the regions globally. Visionary leaders primarily focus on acquiring the leading market position through their strong financial capabilities and their well-established brand equity.
Dynamic Differentiators are established players with very strong business strategies. However, they have a weaker product portfolio compared to the visionary leaders. They generally focus only on a specific type of technology related to the product.
Innovators in the competitive leadership mapping are vendors that have demonstrated substantial product innovations as compared to their competitors. The companies have focused on product portfolios. However, they do not have very strong growth strategies for their overall business, when compared with the visionary leaders.
Emerging players are players that have recently included the subject market-related products in their portfolios, have a limited product portfolio catering to the studied market, or are comparatively smaller in operations. In terms of geographical reach and operating and financial strength as well, they are comparatively limited.
The market poses a moderate threat to new entrants in establishing their footprint, as there are many players who are providing pulse flour products to diverse clientele groups, globally.