- Chelated products,
- Non-chelated products
Agricultural Micronutrients Market was valued at USD 5,799.10 Million in 2023 and grew at a CAGR of 9.9% over the forecast period. The market growth is anticipated by a growing population and rising concerns about food security are expected to propel the agricultural micronutrients market during the forecast period, increasing adoption and awareness of various micronutrients and their benefits and the contribution to the GDP of the nation. The agricultural micronutrient market is driven by increasing demand for fertilizers, increasing R&D activities and technology advancement, decreasing soil health, introduction to ‘green’ micronutrient fertilizers, and the effect of climate change on the environment.
However, despite the growth of the market, the constraints hinder the growth and affect the market growth the low adoption of micronutrients and unregulated application, inflation, increasing logistics expenditure, and increasing popularity of organic fertilizer are the constraints. In the upcoming years, there is a significant growth opportunity for the agricultural micronutrient market through the development of biodegradable chelates, product expansion, government support, and increasing demand for imported fertilizers. Sustainability and reducing carbon footprint, decreasing arable land and increasing food demand, increased use of soil testing and plant analyses, and increasing demand for quality and higher crop yields are trending in recent times for market growth. Currently, Asia-Pacific holds the fastest and dominant region accounting for 42.2% of the agricultural micronutrient market, and is projected to grow at 10.1% CAGR over 2024 - 2030.
Agriculture Micronutrients Market Key Developments:
- In Feb 2024, Corteva Agriscience launched Salibro™ nematicide in India. This new product, powered by Reklemel™ active, offers farmers a tailored and environmentally responsible option to protect crops from destructive nematodes while protecting soil health.
Agriculture Micronutrients Market Summary
Study Period
2024-2030
Base Year
2023
CAGR
9.9%
Largest Market
North America
Fastest Growing Market
Asia Pacific
Agriculture Micronutrients Market Dynamics
A growing population puts a strain on global food supplies, making it crucial to maximize crop yields. This is where agricultural micronutrients come in with increased demand for food and more people to feed, farmers need to produce more crops. Micronutrients can help them achieve this by ensuring optimal plant growth and health. Improved crop yields by micronutrients address deficiencies in soil, allowing plants to better utilize nutrients and water. This leads to higher yields from existing farmland. Enhanced food security by mitigating crop failure due to micronutrient deficiencies, micronutrients contribute to a more stable food supply, the concern for food security in a growing population is a major driver for the agricultural micronutrient market.
Farmers are becoming increasingly aware of the benefits of micronutrients and their role in boosting crop yields. The inclusion of advanced technology in agrochemicals gave rise to the fertilizer-micronutrient combo which ensures proper mixing of different components of fertilizer and micronutrients in a single bag. The advancement in solvent technology also propels the micronutrient fertilizers market as better solvent property gives better spreadability and ease of use. Companies are developing and offering different web and mobile apps to help growers worldwide gain full benefits from their crops. The company shares comprehensive plant nutrition knowledge through a set of online tools. Manufacturers are fully invested in developing the micronutrients market expanding their R&D efforts, delivering new products with proven efficacy, and ensuring they work with existing offerings.
Asia-Pacific Got Significant Share Of
Agriculture Micronutrients Market Regional Analysis
Based on regions, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. In 2023, Asia Pacific accounted for 42.2% of the global agricultural micronutrient market and is projected to grow at 10.1% CAGR over 2024 - 2030. Asia Pacific region, companies are focusing on strategic mergers, acquisitions, and new product launches increasing population leads to increased consumption of fertilizers. India's economy is mostly based on agriculture. While agriculture is expected to account for little over 17% of the USD 2.6 trillion economies, it employs more than 60% of the people. North America accounted for 22.3% of the global agricultural micronutrient market and is projected to grow at 10.3% CAGR over 2024 - 2030. Companies in the Agricultural micronutrient industry are concentrating more and more on research & development to launch new and better products and collaborating with other market players to expand their market growth.
Latin America
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- The report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
- The report covers in-detail insights about the competitor's overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments, and start-up details that are actively working in the market
- The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Agriculture Micronutrients Market Segmentation
By product type
By Micronutrient Type
- Iron,
- Copper,
- Zinc,
- Magnesium,
- Molybdenum,
- Manganese,
- Boron,
- Others
By Crop Type
- Cereals,
- Oilseeds and pulses,
- Vegetables and fruits,
- Others
By Mode Of Application
- Foliar,
- Soil,
- Fertigation
Frequently Asked Questions
The agriculture micronutrients market size was valued at USD 5,799.10 million in 2023
The agriculture micronutrients market key players are: AkzoNobel N.V. (Netherlands) BASF SE (Germany) Agrium, Inc. (Canada) The Dow Chemical Company (U.S.) The Mosaic Company (U.S.) Novozymes (Denmark) Sumitomo Corporation (Japan) Helena Chemical Company (U.S.) Nufarm Ltd. (Australia) SUL4R-PLUS, LLC (U.S.) Yara International (Norway) Land OLakes, Inc. (U.S.)
The agriculture micronutrients market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
| 1. Executive Summary |
| 2. Global Agriculture Micronutrients Market |
| 2.1. Introduction |
| 2.2. Taxonomy |
| 2.3. Definitions |
| 2.3.1. Product Type |
| 2.3.2. Micronutrient Type |
| 2.3.3. Crop Type |
| 2.3.4. Mode of Application |
| 3. Global Agriculture Micronutrients Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Global Agriculture Micronutrients Market Dynamic Factors - Impact Analysis |
| 3.6. Competition Landscape |
| 3.7. Epidemiology |
| 4. Global Agriculture Micronutrients Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Agriculture Micronutrients Market, By Product Type, 2019 - 2023 and Forecast, 2024 - 2030 |
| 5.1. Chelated products |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Non-chelated products |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 6. Global Agriculture Micronutrients Market Forecast, By Micronutrient Type, 2019 - 2023 and Forecast, 2024 - 2030 |
| 6.1. Iron |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Copper |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Zinc |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Magnesium |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Molybdenum |
| 6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 6.6. Manganese |
| 6.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.6.3. Market Opportunity Analysis |
| 6.7. Boron |
| 6.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.7.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.7.3. Market Opportunity Analysis |
| 6.8. Others |
| 6.8.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.8.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.8.3. Market Opportunity Analysis |
| 7. Global Agriculture Micronutrients Market Forecast, By Crop Type, 2019 - 2023 and Forecast, 2024 - 2030 |
| 7.1. Cereals |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Oilseeds and pulses |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Vegetables and fruits |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Others |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 8. Global Agriculture Micronutrients Market Forecast, By Mode of Application, 2019 - 2023 and Forecast, 2024 - 2030 |
| 8.1. Foliar |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Soil |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Fertigation |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 9. Global Agriculture Micronutrients Market Forecast, By Region, 2019 - 2023 and Forecast, 2024 - 2030 |
| 9.1. North America |
| 9.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 9.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.1.3. Market Opportunity Analysis |
| 9.2. Europe |
| 9.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 9.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.2.3. Market Opportunity Analysis |
| 9.3. Asia-Pacific |
| 9.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 9.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.3.3. Market Opportunity Analysis |
| 9.4. Latin America |
| 9.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 9.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.4.3. Market Opportunity Analysis |
| 9.5. Middle East and Africa |
| 9.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 9.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.5.3. Market Opportunity Analysis |
| 9.6. Opportunity Analysis Index, By Product Type, By Micronutrient Type, By Crop Type, By Mode of Application and Region, 2024 - 2030 |
| 10. North America Agriculture Micronutrients Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 |
| 10.1. Product Type Analysis |
| 10.1.1. Chelated products |
| 10.1.2. Non-chelated products |
| 10.2. Micronutrient Type Analysis |
| 10.2.1. Iron |
| 10.2.2. Copper |
| 10.2.3. Zinc |
| 10.2.4. Magnesium |
| 10.2.5. Molybdenum |
| 10.2.6. Manganese |
| 10.2.7. Boron |
| 10.2.8. Others |
| 10.3. Crop Type Analysis |
| 10.3.1. Cereals |
| 10.3.2. Oilseeds and pulses |
| 10.3.3. Vegetables and fruits |
| 10.3.4. Others |
| 10.4. Mode of Application Analysis |
| 10.4.1. Foliar |
| 10.4.2. Soil |
| 10.4.3. Fertigation |
| 10.5. Country Analysis |
| 10.5.1. U.S. |
| 10.5.2. Canada |
| 10.6. Opportunity Analysis Index, By Product Type, By Micronutrient Type, By Crop Type, By Mode of Application and Region, 2024 - 2030 |
| 10.7. North America Agriculture Micronutrients Market Dynamics – Trends |
| 11. Europe Agriculture Micronutrients Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 |
| 11.1. Product Type Analysis |
| 11.1.1. Chelated products |
| 11.1.2. Non-chelated products |
| 11.2. Micronutrient Type Analysis |
| 11.2.1. Iron |
| 11.2.2. Copper |
| 11.2.3. Zinc |
| 11.2.4. Magnesium |
| 11.2.5. Molybdenum |
| 11.2.6. Manganese |
| 11.2.7. Boron |
| 11.2.8. Others |
| 11.3. Crop Type Analysis |
| 11.3.1. Cereals |
| 11.3.2. Oilseeds and pulses |
| 11.3.3. Vegetables and fruits |
| 11.3.4. Others |
| 11.4. Mode of Application Analysis |
| 11.4.1. Foliar |
| 11.4.2. Soil |
| 11.4.3. Fertigation |
| 11.5. Country Analysis |
| 11.5.1. Germany |
| 11.5.2. UK |
| 11.5.3. France |
| 11.5.4. Spain |
| 11.5.5. Italy |
| 11.5.6. Russia |
| 11.5.7. Poland |
| 11.5.8. Rest of Europe |
| 11.6. Opportunity Analysis Index, By Product Type, By Micronutrient Type, By Crop Type, By Mode of Application and Region, 2024 - 2030 |
| 11.7. Europe Agriculture Micronutrients Market Dynamics – Trends |
| 12. Asia-Pacific Agriculture Micronutrients Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 |
| 12.1. Product Type Analysis |
| 12.1.1. Chelated products |
| 12.1.2. Non-chelated products |
| 12.2. Micronutrient Type Analysis |
| 12.2.1. Iron |
| 12.2.2. Copper |
| 12.2.3. Zinc |
| 12.2.4. Magnesium |
| 12.2.5. Molybdenum |
| 12.2.6. Manganese |
| 12.2.7. Boron |
| 12.2.8. Others |
| 12.3. Crop Type Analysis |
| 12.3.1. Cereals |
| 12.3.2. Oilseeds and pulses |
| 12.3.3. Vegetables and fruits |
| 12.3.4. Others |
| 12.4. Mode of Application Analysis |
| 12.4.1. Foliar |
| 12.4.2. Soil |
| 12.4.3. Fertigation |
| 12.5. Country Analysis |
| 12.5.1. Japan |
| 12.5.2. China |
| 12.5.3. India |
| 12.5.4. ASEAN |
| 12.5.5. Australia & New Zealand |
| 12.5.6. Rest of Asia-Pacific |
| 12.6. Opportunity Analysis Index, By Product Type, By Micronutrient Type, By Crop Type, By Mode of Application and Region, 2024 - 2030 |
| 12.7. Asia-Pacific Agriculture Micronutrients Market Dynamics – Trends |
| 13. Latin America Agriculture Micronutrients Market Analysis, 2012 - 2012 - 2019 - 2023 and Forecast, 2024 - 2030 |
| 13.1. Product Type Analysis |
| 13.1.1. Chelated products |
| 13.1.2. Non-chelated products |
| 13.2. Micronutrient Type Analysis |
| 13.2.1. Iron |
| 13.2.2. Copper |
| 13.2.3. Zinc |
| 13.2.4. Magnesium |
| 13.2.5. Molybdenum |
| 13.2.6. Manganese |
| 13.2.7. Boron |
| 13.2.8. Others |
| 13.3. Crop Type Analysis |
| 13.3.1. Cereals |
| 13.3.2. Oilseeds and pulses |
| 13.3.3. Vegetables and fruits |
| 13.3.4. Others |
| 13.4. Mode of Application Analysis |
| 13.4.1. Foliar |
| 13.4.2. Soil |
| 13.4.3. Fertigation |
| 13.5. Country Analysis |
| 13.5.1. Brazil |
| 13.5.2. Mexico |
| 13.5.3. Argentina |
| 13.5.4. Venezuela |
| 13.5.5. Rest of Latin America |
| 13.6. Opportunity Analysis Index, By Product Type, By Micronutrient Type, By Crop Type, By Mode of Application and Region, 2024 - 2030 |
| 13.7. Latin America Agriculture Micronutrients Market Dynamics – Trends |
| 14. Middle East and Africa Agriculture Micronutrients Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 |
| 14.1. Product Type Analysis |
| 14.1.1. Chelated products |
| 14.1.2. Non-chelated products |
| 14.2. Micronutrient Type Analysis |
| 14.2.1. Iron |
| 14.2.2. Copper |
| 14.2.3. Zinc |
| 14.2.4. Magnesium |
| 14.2.5. Molybdenum |
| 14.2.6. Manganese |
| 14.2.7. Boron |
| 14.2.8. Others |
| 14.3. Crop Type Analysis |
| 14.3.1. Cereals |
| 14.3.2. Oilseeds and pulses |
| 14.3.3. Vegetables and fruits |
| 14.3.4. Others |
| 14.4. Mode of Application Analysis |
| 14.4.1. Foliar |
| 14.4.2. Soil |
| 14.4.3. Fertigation |
| 14.5. Country Analysis |
| 14.5.1. Gulf Cooperation Council (GCC) Countries |
| 14.5.2. Israel |
| 14.5.3. South Africa |
| 14.5.4. Rest of MEA |
| 14.6. Opportunity Analysis Index, By Product Type, By Micronutrient Type, By Crop Type, By Mode of Application and Region, 2024 - 2030 |
| 14.7. MEA Agriculture Micronutrients Market Dynamics – Trends |
| 15. Competition Landscape |
| 15.1. Strategic Dashboard of Top Market Players |
| 15.2. Company Profiles (Introduction, Financial Analysis, Drug Class& Service Offerings, Key Developments, Strategies, and SWOT Analysis) |
| 15.2.1. AkzoNobel N.V. (Netherlands) |
| 15.2.2. BASF SE (Germany) |
| 15.2.3. Agrium, Inc. (Canada) |
| 15.2.4. The Dow Chemical Company (U.S.) |
| 15.2.5. The Mosaic Company (U.S.), Novozymes (Denmark) |
| 15.2.6. Sumitomo Corporation (Japan) |
| 15.2.7. Helena Chemical Company (U.S.) |
| 15.2.8. Nufarm Ltd. (Australia) |
| 15.2.9. SUL4R-PLUS, LLC (U.S.) |
| 15.2.10. Yara International (Norway) |
| 15.2.11. Land O’Lakes, Inc. (U.S.) |
| 16. Research Methodology |
| 17. Key Assumptions and Acronyms |
- AkzoNobel N.V. (Netherlands)
- BASF SE (Germany)
- Agrium, Inc. (Canada)
- The Dow Chemical Company (U.S.)
- The Mosaic Company (U.S.)
- Novozymes (Denmark)
- Sumitomo Corporation (Japan)
- Helena Chemical Company (U.S.)
- Nufarm Ltd. (Australia)
- SUL4R-PLUS, LLC (U.S.)
- Yara International (Norway)
- Land OLakes, Inc. (U.S.)