"Growth Micronutrient Requirements for Crops Production - in (Cereals & Grains, Fruits & Vegetables, Oil-seeds & Pulses)"
Agricultural micronutrients have become a fundamental input in agriculture production and leading the industry to achieve its transformation in line with the changing demand from growers as well as to replenish the increasing demand for food with the increasing population worldwide. The agricultural micronutrients market growth has increased progressively because of increased global micronutrient deficiency in soil and shrinkage in the world’s agricultural land. 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.
Agricultural micronutrients market is driven by increasing demand for standard and uniform products, use of genetically modified crops, and changing agricultural practices. North America has shown the highest growth in the concerned market. North America is expected to grow at a faster rate during the forecast period due to agricultural developments taking place in the region, especially in the U.S.
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The North America Agricultural Micronutrients market is estimated to grow at a CAGR of around 9.0% Micronutrients are used to cultivate crops that meet the export quality standards. Increase in the demand for quality food products is projected to increase the consumption of micronutrients in North America, especially in the U.S. and Canada. The demand for micronutrients is also projected to increase in the future because of the declining arable land in North America. The U.S. and Canada use advanced farming techniques, which help them produce high quality agricultural produce that meets international export standards. The agriculture sector in Mexico is underdeveloped, as compared to that in the U.S. and Canada.
Micronutrients are essential elements that are used for the growth and regulation of the plant’s vital physiological activities. Agriculture micronutrients market growth has increased progressively because of increased global micronutrient deficiency in soil and shrinkage in the world’s agricultural land and intensive agricultural practices. The increase in demand from industries such as cereals, fruits & vegetables, and oilseeds & pulses is driving the agricultural micronutrients market. Agricultural micronutrients manufacturers have focused on research and development in order to produce new formulations and innovative application modes for the delivery of micronutrients. The main micronutrients for crop are zinc, copper, boron, iron, manganese, and molybdenum.
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To capitalize on the growth trend in the North American Agricultural Micronutrients Market, several leading agricultural companies are making efforts towards research and development and manufacturing of agricultural micronutrients. Various small and large players are competing in the North American agricultural micronutrients market, with companies such as Agrium Inc. (Canada), The Mosaic Chemical company (U.S), Akzo Nobel NV (Netherlands), and so on which hold dominance in the concerned market. Other companies such as BASF SE (Germany), Yara International ASA (Norway) are also expanding their share in this market.
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