Hyderabad, India -- (SBWIRE) -- 03/10/2018 -- Micronutrients are essential components that are employed in plants in tiny quantities. Quality and yield of agricultural product are raised with micronutrients application, and the human, animal health is protected with the feed of enrichment plant materials. These essential components will perform its role in plant nutrition properly so that the alternative essential components are maintained at the correct magnitude relation.

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The Europe Agricultural Micronutrients Market is estimated to have a value of USD 1.21 billion in 2016. With a CAGR of 7.8%, the market size is expected to grow rapidly to cross USD 1.76 billion by 2021.

Rising demand for food and increasing demand for normal quality and continuous yield owing to growing population, depleting cultivatable land are the foremost factors driving the market.

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The global marketplace for Agricultural Micronutrients can experience progressive growth over the next consecutive few years because of factors such as the high incidence of micronutrient deficiency in soil and also the recent decrease in the amount of cultivatable land across the world. Factors like intensive cropping pattern, in-depth use of chemical fertilizers, mining of substance reserves, and in -depth irrigation facilities have resulted in the acute shortage of micronutrients globally.

The demand for biofuels is increasing considerably attributable to the fast depletion of crude and oil deposits and rising atmosphere issues concerning the prejudicial effects of fossil fuel products on the environment. Bioethanol and biodiesel are thought of the foremost property alternatives to the traditional fuel. Bioethanol is sourced from wheat, soybean, corn, rapeseed, and sugarcane, whereas biodiesel is sourced from sunflower, soybean, mustard, rapeseed, flax, canola, palm oil, and waste vegetable oils.

Europe Agricultural Micronutrients Market is occupying about 15% of the global Agricultural Micronutrients Market share and is anticipated to increase its market size in the forecast period. This can be attributed to the factors such as growing demand for organic products and various environmental issues.

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The major market contributors for the global Agricultural Micronutrients Market are Agrium Inc., BASF SE, Mosaic and Cheminova, Aries Agro Ltd., Coromandel International Ltd., Yara International, Valagro, AkzoNobel, Gujarat State Fertilizers & Chemicals, Tradecorp International.

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