Agricultural micronutrients such as Boron (B), Chlorine (Cl), Copper (Cu), Iron (Fe), Manganese (Mn), Molybdenum (Mo), Nickel (Ni) and Zinc (Zn) are key elements required relatively in small quantities for crop growth.
However, agricultural micronutrients directly affect crop growth and development. The deficiency of the nutrients will affect the quality and growth of crops. The deficiency of these nutrients will be varied based on the crop type and soil type. Soils with high quality of clay will mostly provide less available micronutrients, and sandy soils generally have less quantity of micronutrients.
The global cereals and grains Agricultural Micronutrients Market valued USD 1,906.25 million in 2019 and is estimated to reach USD 3,735.21 million by 2027, growing at a CAGR of 8.93% during 2020-2027. By the crop type, cereals and grains dominate the agricultural micronutrients market accounting for 55% in the year 2019.
Due to the increase in population and rise in the economy in developing countries, the consumption of food is growing. Hence, it is important to maintain the nutrient level in cereal crops & soil to enhance the productivity and growth of the cereals, for which micronutrients play an important role.
In wheat, the major deficient nutrients are copper, manganese and a mild impact is observed in the yield due to Iron and Zinc deficiencies.
In some of the major countries, like China, India, Brazil, Japan etc., boron and molybdenum are identified to be deficient in wheat. Barley is one such crop in this segment with many micronutrient deficiencies. Further, copper, iron, manganese and zinc are identified to be deficient in this crop. This creates an opportunity for major players as well as local companies to develop and manufacture products to defend these nutrition deficiencies. Few such players actively introducing and developing new products for grains and cereals are Yara International, Akzo Nobel, Haifa Chemicals and The Mosaic Company Inc.
Hence, the growing world population is driving the demand for crops, especially cereals as they are consumed as staples across various parts of the world. Increasing nutrient loss incidences in significant cereal crops such as rice, wheat and others are indicating an increased demand for micronutrient fertilizers for these cereal varieties.
Nutrient deficiency in soils is mainly caused due to excessive use of soil and loss of nutrients due to excessive running water. Soil erosion which carries away humus and organic matter that has some agricultural micronutrients are held.
Extensive use of phosphate fertilizers can weaken the availability of some agricultural micronutrients, mainly iron and zinc.
Deficiency of these nutrients leads to the micronutrient malnutrition especially in children, which is a leading concern at a global level.
Micronutrient malnutrition contributes to the wide range of impairments including condensed resistance to infections, learning disabilities and under development of infants and children.
According to the World Health Report, zinc and iron deficiencies were identified as the most common health risk factors. Micronutrients malnutrition is suspected to impart a wide range of risks such as low resistance to infections, stunted growth of infants and learning disabilities. Hence, the use of micronutrients in crops through fortification and other popular methods can help restore the nutrient imbalance in plants and humans alike.
The global agricultural micronutrients market is not highly regulated as various governments encourage the use of micronutrients for agriculture as they improve the crop yield.
Regulations for agricultural micronutrients are generally followed similar to fertilizers or included in fertilizers. Regulations for agricultural micronutrients ensure safe usage and handling of the products that enter into the particular country.
Regulations for Micronutrients in agriculture are mainly derived in developed regions. Various regions have nutrient management regulations which impacts the crop production practices.
In January 2018, the U.S. Department of Agriculture included micronutrients for use in organic production and handling purposes. To stave off the potential impact on farmers, the United States of America’s Farm Credit Administration, the regulatory body overseeing the credit system, is encouraging financial institutions to implement relief mechanisms, such as extending the terms of loan repayments.
In Canada, Micronutrient fertilizers need to be registered and products containing micronutrients with non- efficacious levels of N, P and K that have directions for use also need to be registered to enter Canada.
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