DALLAS, May 20, 2014 /PRNewswire/ --
The North American micronutrients market is Demand Fueled by Rising population and Food Needs. The demand for micronutrients is anticipated to increase in the future because of the shrinking arable land available in North America. The available arable land in North America is estimated to have reduced to 0.61 hectare per person in 2009 from 1.1 hectare per person in 1960. The U.S. and Canada use advanced farming techniques which help them produce high-quality agricultural produce that meets international standards for export. The agriculture industry in Mexico is underdeveloped as compared to that in the U.S. and Canada.
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The world population is currently growing at a rate of about 1.14% per year, and was anticipated to have crossed 7 billion by 2013. To feed the ever-growing global population on the limited arable land available is a big challenge for the agriculture and animal husbandry industry. The requirement of micronutrients depends on the soil type and the cropping pattern. As zinc and boron deficiency in soil is increasing globally, the demand for these micronutrients is high worldwide. The increasing demand for animal protein leads to demand for cattle feed and poultry feed in the animal husbandry industry.
Europe Agricultural Micronutrients Market:
Europe is the second-largest market in the global micronutrient market, projected to grow with a CAGR of 8.4% from 2013 to 2018.The EU exports produce like maize, barley, oats, potatoes, and the like to the rest of the world. Agriculture accounted for 10% of the GDP of the European region in 2012. Poland, Italy, and France are the major agriculture-driven countries in the EU. Boron deficiency in the soil is most abundant in Europe. Spain and Italy have mechanized farming techniques and use them for application of micronutrients. The demand for standard quality products for export, and increasing land degradation are increasing the market for micronutrients in the EU.
Latin America Agricultural Micronutrients Market:
Brazil and Argentina are leading agriculture produce exporting countries. The main reason for production of different crops in these countries is the diverse climatic conditions. The major crops cultivated in Brazil and Argentina are coffee, corn, rice, fruits, and vegetables. The requirement for micronutrients is anticipated to increase in these countries because of the increasing demand for agricultural produce, and the micronutrient deficiency in the soil.
North America Cattle Feed Market:
n the exponentially growing animal feed industry, the North American cattle feed and poultry feed markets are expected to grow at a CAGR of 6.9% and 6.6% respectively from 2013 to 2018.The condition of the cattle feed and poultry feed industries have improved due to a slowdown in the feed price growth, which helps boost margins. The consumption of cattle feed and poultry feed has consistently increased over the years, and this trend is expected to continue in the near future to cater to the animal protein demand of the increasing population.
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