Press release
Crop Micronutrients Market Forecast 2025-2034: Evaluating Growth Factors, Segments, and Emerging Trends
Crop Micronutrients Market Size
The growth of the crop micronutrient market is anticipated to be fueled by the burgeoning deficit of soil micronutrients. Lack of crucial vitamins and minerals, required in small quantities for optimal growth and development, constitutes micronutrient deficiency. Micronutrients, although present in minute quantities, play a critical role in promoting the growth of new plants. The Center for Science and Environment (CSE) India, in a 2022 report, revealed nitrogen deficiency in 90% of the soil samples registered from 27 states. A whopping 85% of these soil samples showcased an inadequacy of organic carbon while 15% contained scant levels of the same. Additionally, low levels of organic carbon were found in 49% of the soil samples. Therefore, this rising deficit of soil micronutrients is propelling the expansion of the crop micronutrient market.
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What Is the projected market size and growth rate for the crop micronutrients market?
The size of the crop micronutrients market has experienced swift development of late. Projected to expand from $7.54 billion in 2024 to $8.31 billion in 2025 with a compound annual growth rate (CAGR) of 10.1%, the market's progression in the past can be linked to factors like increasing population, decline in soil nutrients, heightened awareness and education, along with government initiatives.
Anticipating swift expansion in the coming years, the crop micronutrients market is projected to reach $12.57 billion by 2029, growing at a compound annual growth rate (CAGR) of 10.9%. This predicted growth within the forecast period is primarily due to precision farming, concerns over climate change, the rise of organic agriculture, international worries about food security and increased consumer awareness. The period is also expected to see key trends such as research and development, the use of biological micronutrients, tailored micronutrient blends, nanoparticle fertilizers, the integration of digital agriculture, innovation-driven collaborations, and an emphasis on secondary and micronutrients, all within the context of climate-smart agriculture.
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What new trends are reshaping the crop micronutrients market and its opportunities?
A prime trend seeing heightened attention in the crop micronutrient market is product development. Several dominant firms in the market are making concerted efforts for product development in order to fortify their market stance. For instance, in May 2024, Coromandel International, a manufacturer of fertilizers, pesticides, and specialized nutrients based in India, introduced ten new product offerings to the market. These newly launched products include an advanced neem-coated biological plant and soil health enhancer, as well as five generic formulations, all aimed at offering comprehensive crop protection solutions to Indian farmers. These products are designed to effectively control the fall armyworm, a pest causing up to 30% destruction of corn crops in India every year.
What major market segments define the scope and growth of the crop micronutrients market?
The crop micronutrients market covered in this report is segmented -
1) By Type: Zinc, Boron, Iron, Manganese, Molybdenum, Copper, Other Types
2) By Crop Type: Cereals & Grains, Fruits & Vegetables, Oilseeds & Pulses, Other Crop
3) By Application: Fertigation, Soil, Foliar, Other Applications
Subsegments:
1) By Zinc: Zinc Sulfate, Zinc Chelates, Zinc Oxide
2) By Boron: Boric Acid, Sodium Borate, Boron Chelates
3) By Iron: Iron Chelates, Iron Sulfate, Iron Oxide
4) By Manganese: Manganese Sulfate, Manganese Chelates
5) By Molybdenum: Ammonium Molybdate, Sodium Molybdate,
6) By Copper: Copper Sulfate, Copper Chelates
7) By Other Types: Cobalt, Nickel, Other Micronutrients
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Which region dominates the crop micronutrients market?
Asia-Pacific was the largest region in the crop micronutrients market in 2024.North America is expected to be the fastest-growing region in the forecast period. The regions covered in the crop micronutrients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Which key market leaders are driving the crop micronutrients industry growth?
Major companies operating in the crop micronutrients market include BASF SE, Nutrien Ltd, Yara International ASA, The Mosaic Company, Corteva Agriscience, Nufarm Ltd, Haifa Group, Compass Minerals International Inc., Coromandel International Limited, Sapec Agro Business, Valagro SpA, ATP Nutrition, Stoller Enterprises Inc., Micromix Plant Health Limited, FMC Corporation, Helena Agri-Enterprises LLC, Verdesian Life Sciences LLC, K+S Aktiengesellschaft, Sociedad Química y Minera de S. A, Brandt Consolidated Inc., Omex Agrifluids Ltd., Bio Huma Netics Inc., Nutri-Tech Solutions Pty Ltd., AgroLiquid, Plant Health Care plc, Loveland Products Inc., Marrone Bio Innovations Inc.
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What Is Covered In The Crop Micronutrients Global Market Report?
•Market Size Forecast: Examine the crop micronutrients market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the crop micronutrients market for a structured understanding.
•Key Players Overview: Analyze major players in the crop micronutrients market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the crop micronutrients market.
•Segment Contributions: Evaluate how different segments drive overall growth in the crop micronutrients market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the crop micronutrients market.
•Industry Challenges: Identify potential risks and obstacles affecting the crop micronutrients market.
•Competitive Landscape: Review strategic developments in the crop micronutrients market, including expansions, agreements, and new product launches.
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