The global agricultural micronutrients market size reached a value of USD 5.19 billion in 2024 and is projected to grow to USD 9.03 billion by 2032, rising from USD 5.53 billion in 2025. This represents a compound annual growth rate (CAGR) of 7.26% during the forecast period. The U.S. market is expected to experience significant growth, with estimates indicating it will reach USD 1.88 billion by 2032. This expansion is largely fueled by the increased use of micronutrients in large-scale crop production. In 2024, the Asia Pacific region led globally, accounting for a commanding 46.62% market share.
Key micronutrients—including zinc, boron, iron, molybdenum, chloride, nickel, copper, and manganese—are critical for correcting soil nutrient imbalances. These nutrients are applied to crops such as cereals, oilseeds, pulses, fruits, and vegetables in either chelated or non-chelated forms. Application methods include soil treatment, foliar spraying, and fertigation.
Information Source: https://www.fortunebusinessinsights.com/industry-reports/agricultural-micronutrients-market-101607
Market Segmentation
Zinc Segment Expected to Lead Among Micronutrient Types
Among the various nutrient types—including iron, boron, molybdenum, manganese, and others—zinc is projected to show the strongest growth. This is mainly due to increasing global awareness of zinc deficiencies in agricultural soils.
Soil Application to Witness Substantial Growth Through Technological Improvements
Based on the application method, the market includes fertigation, foliar sprays, and soil applications. The soil application segment is forecasted to grow significantly due to advancements in application technology and increasing investment in high-efficiency fertilizer distribution equipment.
Non-Chelated Form Gaining Ground Due to Cost Benefits
The market is categorized by form into chelated and non-chelated types. The non-chelated segment is expected to expand considerably, driven by its affordability and broader accessibility compared to chelated alternatives.
Cereal Crops to Dominate Crop Segment Growth
By crop type, the market is divided into cereals, oilseeds and pulses, fruits and vegetables, and others. The cereals segment is anticipated to witness strong growth, supported by increasing cultivation and rising global demand.
Regionally, the market includes Asia Pacific, North America, Europe, South America, and the Middle East & Africa.
Report Coverage
This report delivers comprehensive insights into key market trends, driving factors, and potential obstacles. It also covers strategic developments such as acquisitions, mergers, and partnerships initiated by major industry players to strengthen their market standing.
Market Drivers and Restraints
Rising High-Value Crop Production Boosting Demand
The market is benefiting from the increasing cultivation of high-value crops such as fruits, vegetables, ornamentals, and turf. These crops demand higher quality and yields, thereby accelerating the need for micronutrient-enriched solutions.
However, limited government assistance and funding availability in some regions could pose challenges to market expansion.
Regional Insights
Asia Pacific to Maintain Leadership, Fueled by Agricultural Output in India and China
Asia Pacific is expected to retain its dominant position throughout the forecast timeline, driven by large-scale cereal and staple crop cultivation in India and China.
North America is also projected to see solid growth as awareness of soil micronutrient deficiencies becomes more prominent among growers and agricultural professionals.
Competitive Landscape
Collaborations and M&A Activities Reinforce Market Positioning
Leading companies are pursuing strategic mergers, acquisitions, and partnerships to extend their global reach. In addition, a focus on innovation is enabling them to improve product efficiency and better address evolving agricultural demands.
Notable Companies in the Market Include:
- Nutrien Ltd. (Canada)
- Israel Chemicals Ltd. (Israel)
- Coromandel International (India)
- Yara International ASA (Norway)
- Indian Farmers Fertiliser Cooperative Limited (IFFCO) (India)
- Haifa Group (Israel)
- Koch Agronomic Services, LLC (U.S.)
- Grupa Azoty Zakłady Chemiczne Police Group (Poland)
- Marubeni Corporation (Helena Agri-Enterprises, LLC) (U.S.)
- Nouryon Chemicals Holdings B.V. (Netherlands)
Get Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/agricultural-micronutrients-market-101607
Recent Industry Development
In March 2021, Haifa Group announced a partnership with AgriIOT, a provider of agri-tech solutions, aimed at helping farmers monitor crop health and acquire suitable products. The collaboration emphasizes delivering targeted approaches to nutrient deficiency challenges.
Comments
0 comment