The global agricultural micronutrients market size was valued at USD 5.19 billion in 2024. The market is projected to grow from USD 5.53 billion in 2025 to USD 9.03 billion by 2032, exhibiting a CAGR of 7.26% during the forecast period. Asia Pacific dominated the agricultural micronutrients market with a market share of 46.62% in 2024. Moreover, the agricultural micronutrients market size in the U.S. is projected to grow significantly, reaching an estimated value of USD 1.88 billion by 2032, driven by high application on large-acre crops. Asia Pacific dominated the agricultural micronutrients market with a market share of 46.41% in 2023.
Zinc, boron, iron, molybdenum, chloride, nickel, copper, and manganese are agricultural micronutrients applied to crops to reduce micronutrient deficiency in soil. These micronutrients are either chelated or non-chelated and can be applied to crops such as cereals, pulses & oilseeds, fruits & vegetables, and others through soil, foliar, or fertigation.
Information Source:https://www.fortunebusinessinsights.com/industry-reports/agricultural-micronutrients-market-101607
List of Key Players Mentioned in the Report:
- 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 Zaklady Chemiczne Police Group (Poland)
- Marubeni Corporation (Helena Agri-Enterprises, LLC) (U.S.)
- Nouryon Chemicals Holdings B.V. (North Holland)
Segmentation
Zinc Segment Gains Traction with Rising Deficiency Awareness
The agricultural micronutrients market is segmented by type into zinc, iron, boron, molybdenum, manganese, and others. The zinc segment is expected to witness substantial growth due to the increasing awareness of zinc deficiencies and its crucial role in enhancing crop health and yield. Zinc is essential for various enzymatic processes and plays a key role in plant growth and development.
Soil Segment Expands with Technological Advancements
By application mode, the market is categorized into soil, foliar, and fertigation. The soil segment is projected to grow significantly, supported by technological advancements in fertilizer spreaders and precision application technologies. These innovations help improve nutrient efficiency, making the soil application method more effective and widely adopted.
Non-Chelated Products Gain Popularity for Cost Efficiency
The market by form is divided into chelated and non-chelated products. The non-chelated segment is expected to experience strong growth, driven by its cost-effectiveness and widespread availability. Non-chelated products are often preferred in cost-sensitive agricultural markets, offering an affordable solution for micronutrient application.
Cereals Dominate Crop Type Segment with Extensive Cultivation
By crop type, the market is segmented into cereals, pulses & oilseeds, fruits & vegetables, and others. The cereals segment is anticipated to lead due to their high global cultivation rates. Micronutrients play a vital role in improving crop productivity, especially for cereals, which are essential for global food security.
Regional Insights
Asia Pacific Maintains Market Leadership with Strong Agricultural Output
Asia Pacific is projected to remain the dominant region in the agricultural micronutrients market, fueled by its strong agricultural output, particularly in countries like India and China. Increased awareness of micronutrient benefits and rising agricultural investments in these regions further contribute to regional growth.
North America Witnesses Expansion with Growing Awareness
In North America, the market is poised for significant growth, driven by the increasing recognition of micronutrient deficiencies' impact on crop yield and health. Advancements in modern farming techniques and the growing focus on improving agricultural productivity further support the expansion of the market in this region.
Report Coverage
This research report provides a thorough analysis of the agricultural micronutrients market, covering key trends, drivers, restraints, and opportunities. It also focuses on the strategic actions of leading players, including mergers, acquisitions, and partnerships, aimed at strengthening their market positions.
Drivers and Restraints
Market Growth Driven by High-Value Crop Cultivation
The agricultural micronutrients market is expanding due to the increasing cultivation of high-value crops such as fruits, vegetables, ornamentals, and turf. The demand for micronutrients to improve crop quality and yield is aligned with the rising production levels of these crops.
Challenges in Accessing Government Support Programs
Despite the market's growth potential, challenges such as limited access to government subsidies and support programs pose a barrier, particularly in developing regions. Financial constraints in these areas hinder farmers' ability to invest in micronutrient solutions.
Competitive Landscape
Strategic Collaborations for Geographic Expansion
To enhance their global presence and market competitiveness, key players in the agricultural micronutrients market are pursuing strategic collaborations, acquisitions, and new product innovations. These efforts help companies address changing consumer demands while expanding into new markets.
Key Industry Development
March 2021 – Haifa Group and AgrIOT Collaborate on Nutrient Deficiency Solutions
Haifa Group formed a partnership with AgrIOT, an agricultural technology provider, to improve crop monitoring and precision nutrient application. This collaboration aims to efficiently address nutrient deficiencies, ensuring optimal crop health and maximizing productivity.
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