The global agricultural micronutrients market trends was valued at USD 5.19 billion in 2024 and is expected to grow to USD 5.53 billion in 2025, ultimately reaching about USD 9.03 billion by 2032. This growth reflects a compound annual growth rate (CAGR) of 7.26% over the forecast period. In the United States, the market is forecasted to reach USD 1.88 billion by 2032, largely driven by widespread adoption in large-scale crop production. Asia Pacific dominated the market in 2024, accounting for 46.62% of the total share.
Micronutrients such as zinc, boron, iron, molybdenum, chloride, nickel, copper, and manganese play a crucial role in addressing soil nutrient deficiencies. These inputs are available in chelated and non-chelated forms and are applied to crops through soil treatment, foliar sprays, or fertigation. They are widely used across cereals, pulses, oilseeds, fruits, and vegetables.
As per the Food and Agriculture Organization (FAO), leading agricultural producers include China, India, the U.S., Brazil, Russia, France, Mexico, Japan, Germany, and Turkey. Rising global demand for high-quality agricultural produce is increasing the reliance on advanced fertilizer solutions, thereby supporting the market’s expansion.
For instance, data from the Directorate General of Foreign Trade and India’s Ministry of Agriculture and Farmers Welfare revealed that the country’s agricultural imports rose from USD 22.1 billion in 2020 to USD 31.4 billion in 2021. Similarly, exports climbed to USD 43.2 billion in 2021, marking a 29.34% year-on-year increase.
Information Source: https://www.fortunebusinessinsights.com/industry-reports/agricultural-micronutrients-market-101607
Market Segmentation
Zinc is the most widely used micronutrient, outpacing boron, manganese, iron, and molybdenum, due to growing awareness of widespread zinc deficiencies in soils. Soil application is expected to expand rapidly, supported by innovations in application technologies and the adoption of precision farming. Non-chelated micronutrients are also gaining market traction, offering a cost-effective substitute for chelated types.
By crop type, the market is segmented into cereals, fruits and vegetables, oilseeds and pulses, and others. The cereals segment is projected to dominate, driven by growing demand for staple grains and increased cultivation. Regionally, the market is divided into Asia Pacific, North America, Europe, South America, and the Middle East & Africa.
Report Coverage
The report provides insights into current market dynamics, growth drivers, and challenges. It also reviews strategic initiatives such as mergers, acquisitions, and collaborations adopted by key companies to strengthen their presence and competitive edge.
Market Drivers and Restraints
Demand for micronutrient-based fertilizers is being fueled by the rising cultivation of high-value crops such as fruits, vegetables, and ornamentals, which require improved productivity and quality. However, growth in certain regions may be limited by lack of government support, funding constraints, or limited access to agricultural resources.
Regional Insights
Asia Pacific is expected to maintain its leadership position, supported by the large-scale cultivation of cereals and other essential crops in China and India. North America is likely to experience steady growth, driven by increased farmer awareness of the importance of micronutrients in crop health and yield.
Competitive Landscape
Strategic Partnerships and Acquisitions Fuel Market Expansion
Market players are actively engaging in mergers, acquisitions, and partnerships to strengthen their global footprint. Continuous product innovation is also helping companies address evolving agricultural needs more effectively.
Key Companies in the Agricultural Micronutrients Market:
- 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)
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Recent Development
- March 2021: Haifa Group partnered with agri-tech company AgriIOT to improve crop health monitoring and optimize nutrient management. The initiative focuses on addressing micronutrient deficiencies and enhancing yields through advanced agricultural technologies.
