The global agricultural micronutrients market was valued at USD 5.19 billion in 2024 and is projected to expand from USD 5.53 billion in 2025 to USD 9.03 billion by 2032, reflecting a CAGR of 7.26% over the forecast period. In the U.S., the market is expected to witness substantial growth, reaching an estimated value of USD 1.88 billion by 2032, driven by increased application on large-acre crops. Asia Pacific led the agricultural micronutrients market in 2024, holding a dominant share of 46.62%.
Zinc, boron, iron, molybdenum, chloride, nickel, copper, and manganese serve as essential agricultural micronutrients that mitigate soil micronutrient deficiencies. These nutrients, available in chelated and non-chelated forms, are applied to various crops, including cereals, pulses and oilseeds, fruits, vegetables, and others, through soil application, foliar sprays, or fertigation.
Information Source: https://www.fortunebusinessinsights.com/industry-reports/agricultural-micronutrients-market-101607
Market Segments
Zinc Segment Expected to Gain Significant Traction Due to Rising Awareness of Deficiencies
By type, the market is categorized into iron, zinc, boron, molybdenum, manganese, and others. The zinc segment is set for notable expansion, driven by increasing awareness of zinc deficiencies across multiple regions.
Soil Application Mode to Experience Robust Growth Amid Advancements in Fertilizer Technology
Based on application mode, the market is segmented into fertigation, foliar application, and soil application. The soil segment is expected to witness substantial growth, fueled by rising investments in advanced fertilizer spreaders with greater capacity.
Non-Chelated Segment to Record Strong Growth Due to Cost-Effectiveness
By form, the market is divided into chelated and non-chelated segments. The non-chelated segment is anticipated to expand significantly, primarily due to its widespread availability and lower cost compared to chelated alternatives.
Cereals Segment to Experience Notable Expansion with Increased Cultivation Rates
By crop type, the market is segmented into cereals, pulses and oilseeds, fruits and vegetables, and others. The cereals segment is projected to witness considerable growth, supported by a rising rate of cereal crop cultivation.
Regionally, the agricultural micronutrients market is divided into Asia Pacific, Europe, North America, South America, and the Middle East & Africa.
Report Coverage
The report analyzes key trends shaping industry growth in the coming years, alongside factors driving market expansion. It also examines acquisitions, mergers, and other strategic initiatives by major players to enhance their market presence.
Market Drivers and Restraints
Expansion Driven by Rising Cultivation of High-Value Crops
The growth of the agricultural micronutrients market is fueled by the increasing cultivation of high-value crops such as vegetables, fruits, ornamentals, and turf. Additionally, rising production levels of these crops are bolstering demand for micronutrients.
However, market expansion may face challenges due to limited access to government support programs.
Regional Insights
Asia Pacific to Lead Market Growth, Driven by Large-Scale Production in India and China
Asia Pacific is expected to maintain a dominant market position over the forecast period, supported by significant staple and cereal crop production in India and China.
Meanwhile, North America is anticipated to experience considerable growth, largely due to increasing awareness of micronutrient deficiencies in the region.
Competitive Landscape
Key Companies Strengthen Market Presence Through Strategic Collaborations
Leading industry players are engaging in various strategic initiatives to expand their geographical reach. These include mergers, acquisitions, and partnerships, alongside efforts in product innovation and development.
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)
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Key Industry Development
- March 2021 – Haifa Group partnered with AgrIOT, an agriculture technology provider, to assist farmers with crop monitoring and product purchases. This collaboration aims to deliver precise solutions for nutrient deficiencies.