Rockville, MD -- (SBWire) -- 08/27/2018 --Global Agricultural Micronutrients Market's Growth Supported by Need to Boost Soil Productivity

Micronutrients, namely boron, copper, iron, molybdenum, manganese, zinc, and chloride, play a crucial role in balanced crop nutrition. This has spawned a global agriculture micronutrients market which is worth over billions of dollars and will likely clock a healthy growth in the next couple of years. 

There are numerous factors, ranging from the soil texture, climatic variability, pH effect, and organic matter affecting the proportion of micronutrients in soil. It has been observed that lower organic matter soil, namely muck and grey soil are typically low in micronutrients. Besides, moisture in soil and temperature also affect the micronutrients. This has led to the solid demand and sales in the global agricultural micronutrients market.

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Rising World Population Primary Driver of Demand in Global Agricultural Micronutrients Market 

At the forefront of driving the global agriculture market is the pressing need to feed the burgeoning world population. Agricultural micronutrients bring about proper growth and balanced nutrition of plants and crops. They help to thwart occurrence of chlorosis which is the yellowing of leaves, necrosis, and gummosis. The micronutrients not just improve the quality of crops, but they also improve the quantity.

Apart from that, the rising demand for genetically modified (GM) seeds worldwide is also likely to a have a positive impact on the global agricultural micronutrients market. Further, surging usage of chemical fertilizers, fertigation, and foliar will positively impact the market too since the methods protect the crops from UV radiations, insects, and thus help to enhance yields.

Price Volatility of Micronutrients Offsetting Growth in Global Agricultural Micronutrients Market

One difficulty facing the global agricultural micronutrients market is the volatility in prices of micronutrients. This is because the raw materials required for the production is gotten by mining which time consuming and laborious. The quantities mined is not quite sufficient to meet the requirements of large farming lands and the resultant massive upsurge in usage of chemical fertilizers.

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Zinc Most Sought After Micronutrient in Market

A noticeable trend in the global agricultural micronutrients market is the surging demand for zinc across regions, especially Asia Pacific. This is because deficiency of zinc can have a negative impact on the productivity of soil thereby affecting crop growth. To fix the problem, most companies are seen focused on production and supply of zinc in the agricultural micronutrients market.

Asia Pacific Leads Agricultural Micronutrients Market Owing to Large Scale Farming 

From a geographical standpoint, Asia Pacific is a major agricultural micronutrients market. This is because agriculture is still practiced on a large scale in nations of India, China, and others in the region with the manufacturing and service sectors still lagging the advanced western world. And with farmers being continuously educated about better farming practices, the agricultural micronutrients market in the region is set to grow in the next couple of years.

North America is another prominent market with respect to demand. This is because of uptake of modern farming methods in the region using the best fertilizers and machines and the high income of the farming community. Overall, the growing demand for food, reduction in size of arable land, and deficiency of micronutrients in soils across nations in continents, is expected to catalyze revenue growth in the global agricultural micronutrients market.

Global Agricultural Micronutrients Market Sees Stiff Competition Among Players

Stiff competition characterizes the global agricultural micronutrients market. Savvy players are seen competing based on technology, pricing, and the quality of micronutrients.  Some of the prominent companies operating in the market are Yara International, BASF SE, Wolf Trax Inc., Agrium Inc, Coromandel International Ltd., and The Mosaic Company.

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