Press release
Increasing Soil Micronutrient Deficiency Fuels Growth In The Agricultural Micronutrients Market: An Emerging Driver Transforming The Agricultural Micronutrients Market Landscape
Agricultural Micronutrients
What Is the Projected Growth of the Agricultural Micronutrients Market?
Over the past few years, the size of the agricultural micronutrients market has experienced a swift expansion. By 2025, it's projected to rise to $8.13 billion from $7.09 billion in 2024, demonstrating a compound annual growth rate (CAGR) of 14.7%. Causes for the observed growth during the historic period include soil nutrient depletion, increased awareness and education, government subsidies, diverse crop production, and environmental worries.
In the coming years, a swift expansion is anticipated in the agricultural micronutrients market, with its value reaching $13.67 billion by 2029, growing at a Compound Annual Growth Rate (CAGR) of 13.9%. Factors that contribute to this projected growth during the forecast period include emerging markets, growing population, precision agriculture, research and development, and the rise of organic farming. Key trends observed during this period are biological micronutrients, tailor-made micronutrient mixes, the application of nanotechnology in micronutrients, micronutrient fortification, and sustainable sourcing.
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What Are the Different Agricultural Micronutrients Market Segments?
The agricultural micronutrients market covered in this report is segmented -
1) By Type: Zinc, Boron, Iron, Copper, Manganese, Molybdenum, Other Types
2) By Method of Application: Soil Application, Fertigation, Foliar, Seed Treatment, Hydroponics
3) By Crop Type: Cereals, Pulses, Oilseeds, Spices, Fruit And Vegetables
4) By Application: Tomato, Cotton, Citrus, Apple, Lettuce, Soybean, Other Applications
Subsegments:
1) By Zinc: Zinc Sulfate, Zinc Oxide, Chelated Zinc
2) By Boron: Boric Acid, Sodium Borate, Chelated Boron
3) By Iron: Iron Sulfate, Iron Chelates (e.g., EDTA, DTPA), Iron Oxide
4) By Copper: Copper Sulfate, Copper Oxide, Chelated Copper
5) By Manganese: Manganese Sulfate, Chelated Manganese, Manganese Oxide
6) By Molybdenum: Ammonium Molybdate, Sodium Molybdate
7) By Other Types: Cobalt, Nickel, Selenium, Other Micronutrient Blends
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What Are the Primary Drivers Shaping the Agricultural Micronutrients Market?
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Which Companies Are Leading in the Agricultural Micronutrients Market?
Major companies operating in the agricultural micronutrients market include BASF SE, Yara International ASA, Nutrien Ltd., Nouryon BV, Compass Minerals International, Helena Chemical Company, Corteva Agriscience, Coromandel International Limited, Haifa Group, Valagro S.p.A, Sigma AgriScience LLC, Aries Agro Limited, AgroLiquid, Agrium Inc., Dow Chemical Company, ATP Nutrition Ltd., Baicor L.C., Stoller USA Inc., Akzonobel N.V, Sumitomo Chemical Co. Ltd., Syngenta International AG, Brandt Consolidated Inc., Grow More Inc., Western Nutrients Corporation, The Mosaic Company, Nufarm Limited, ICL Group Ltd., Chambal Fertilisers and Chemicals Limited, Sapec Group, Green Has Italia SPA
What Are the Major Trends Shaping the Agricultural Micronutrients Market?
Advancements in technology are significantly influencing the agricultural micronutrients market. Technological advancements refer to the progression of knowledge that enhances technology, leading to the development of improved products. For example, in September 2022, ICL Group Ltd., a company based in Israel that specializes in the development and production of metals, fertilizers, and specialized chemicals, introduced eqo.x. This revolutionary, rapidly biodegradable release technology is designed for open field agriculture. It uses a coating that lessens nutrient loss and enhances nutrient use efficiency (NUE) by up to 80%, allowing farmers to optimize crop performance while reducing environmental harm. In addition, this release technology can assist in lowering the frequency and quantity of nitrogen applications, sustaining or increasing yield with reduced fertilizer rates, and ensuring reliable and steady nutrient release.
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What Are the Top Revenue-Generating Geographies in the Agricultural Micronutrients Market?
Asia-Pacific was the largest region in the agricultural micronutrients market in 2024. Asia-Pacific is expected to be the fastest-growing region in the agricultural micronutrients market. The regions covered in the agricultural micronutrients market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Agricultural Micronutrients Market?
2. What is the CAGR expected in the Agricultural Micronutrients Market?
3. What Are the Key Innovations Transforming the Agricultural Micronutrients Industry?
4. Which Region Is Leading the Agricultural Micronutrients Market?
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