Market Trends of north america micronutrient fertilizer Industry
Government support, such as subsidies, contributed to the expansion of field crops
- A wide array of crops are grown on North American farms, mainly covering field crops. Corn, cotton, rice, soybean, and wheat are some of the dominating field crops across the region. The United States, Canada, and Mexico are major contributors to the region's agricultural output. In 2022, field crops covered around 97.6% of the overall cultivation in North America, with cereals and oilseeds dominating the market.
- By country, the United States dominates the market by covering 135.7 million hectares of the overall area under crop cultivation. Among them, field crops and horticulture cover the majority of the area and accounted for 97.2% and 2.8% in the year 2022. However, between 2018-2019, the country witnessed a significant dip in crop acreages, which was mainly due to unfavorable environmental conditions resulting in heavy floods in areas like Texas and Houston.
- The largest crop cultivated is corn, the majority of which is grown in a region known as the 'Corn Belt'—a traditional area in the Midwestern United States, roughly covering western Indiana, Illinois, Iowa, Missouri, eastern Nebraska, and eastern Kansas, where corn (maize) and soybeans are the dominant crops. The United States is also a major rice exporter. The rice cultivation in the region is mainly concentrated within four regions, with three in the South and one in California. Therefore, the increased market potential for the region's field crop, coupled with increased government funding and protection, is anticipated to positively drive the area under field crop cultivation in the region.
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Raising micronutrient deficiencies and crop losses increase micronutrient application rates
- In 2022, the highest application rates were observed for manganese, copper, zinc, iron, and boron, at 10.6 kg/ha, 6.9 kg/ha, 6.8 kg/ha, 3.3 kg/ha, and 1.5 kg/ha, respectively. Although most micronutrients have lower crop uptake, their unavailability can severely limit critical plant functions, leading to abnormalities, stunted growth, and reduced yields. Given the rising yields, commodity prices, and input costs, growers are scrutinizing potential barriers to grain production, including micronutrient deficiencies.
- Wheat, sorghum, soybean, and cotton dominate micronutrient fertilizer consumption, with other field crops like corn and rice playing a smaller role. Wheat, in particular, faces significant deficiencies in copper and manganese, while iron and zinc deficiencies also mildly impact its yield.
- The micronutrient requirements of each crop are influenced by regional soil conditions. In the United States, sandy soils in the southeast, which are low in organic matter and prone to leaching, commonly exhibit boron deficiencies, unlike the fertile black soils in the northeast. Similarly, certain fields in Central Alberta, Canada, face copper deficiencies, which are crucial for cereal cultivation.
- All agricultural soils in Mexico are zinc-deficient. However, this condition is more common in Queretaro, Sonora, and Sinaloa, indicating an increased need for zinc micronutrient fertilizers. North American soil is naturally deficient in micronutrients, leading to increased consumption of micronutrient supplements during cultivation.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Agriculture extension services provided by the government to farmers are expected to drive the cultivation area under horticulture crops
- Government policies and financial support are raising the irrigation area in the region
- Micronutrient consumption is higher in the cabbage crop
