North America Agricultural Micronutrients Market was worth USD 3.29 billion in 2021 and is expected to reach USD 5.89 billion by 2026 with a CAGR of 8.0%. Micronutrients are used to grow crops that meet export quality standard. Micronutrients plays a crucial part in maintaining balanced crop protection and is also essential for the growth of the plants. These micro-nutrients are also important in facilitating plant functions and also in enhancing root strength, sugar translocation, and overall plant immunity. Deficiency of Micronutrients results in withering of buds in crops, yellowing of leaves, health hazards and eventually results in the decline of crop productivity.
Rising demand for food and increasing demand for standard quality and continuous yield because of growing population, depleting arable land are the major factors strengthening the market. Lack of awareness among farmers in developing regions, lack of awareness about an appropriate quantity to be injected into the soil due to lack of standardized levels established by regulatory agencies, high cost are the major factors hindering the growth of the market.
North America Agricultural Micronutrients Market – By Type:
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Zinc segment is expected to grow at the highest CAGR because of the growing demand for zinc in the food. Cereals are the highest growing segment around the world owing to continuous technological advancements and growing demand for cereals.
Geographically, this market is further segmented in to US and Canada. The U.S. and Canada use advanced agricultural techniques, which help them deliver quality agricultural produce that meets international export standards.
This report also provides detailed marketing and development strategies used by key players such as BASF SE, Mosaic and Cheminova, Agrium Inc., Aries Agro Ltd., Coromandel International Ltd., Yara International, Valagro, Gujarat State Fertilizers & Chemicals, Tradecorp International, AkzoNobel.
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