Press release
Increasing Soil Degradation Drives Growth In Micronutrient Fertilizer Market: A Key Factor Shaping the Future of the Micronutrient Fertilizer Market in 2025
Micronutrient Fertilizer Market Size
The escalating condition of soil decay is predicted to stimulate the expansion of the micronutrient fertilizer market in the future. The deterioration in the quality and productivity of soil is induced by numerous influencers, resulting in a decrease in farm yields and the overall state of the environment. Unsustainable farming methods, deforestation, and industrial operations chiefly contribute to soil decay, causing erosion, nutrient exhaustion, and the disappearance of organic substances. Aspects like climate shifts and overgrazing further intensify the degradation of soil health. Micronutrient fertilizers counter this decomposition by restoring vital nutrients, boosting soil fertility, and encouraging the growth of sustainable crops. For instance, in April 2022, as reported by the United Nations Convention to Combat Desertification (UNCCD), an international commerce and development agency based in Germany, about 40% of the Earth's land had suffered decay, affecting half of the world's population. By 2050, land decay is anticipated to cover 16 million square kilometers, equivalent to approximately the size of South America. Hence, the escalating decay of soil is fueling the expansion of the micronutrient fertilizer market.
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What is the future CAGR of the micronutrient fertilizer market, and how will it impact industry expansion?
The market size of the micronutrient fertilizer has experienced significant growth in the past few years. It's projected to expand from $4.33 billion in 2024 to $4.63 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 7.0%. Factors contributing to growth during the historic period include enhanced crop yields, soil exhaustion, growing awareness, increased government backing, heightened demand for high-value crops, and streamlined fertilizer distribution channels.
Expectations are high for the micronutrient fertilizer market to experience robust growth in the upcoming years, with projections suggesting an increase to $6.02 billion in 2029, courtesy of a CAGR of 6.8%. The surge anticipated within this period can be attributed to several factors such as an increasing population, more prevalent sustainable farming practices, climate change, a more varied selection of crops, extended agricultural land, heightened focus on soil health, and the expanding utilization of precision agriculture. The forecast period will also see key trends such as the employment of precision agriculture, the creation of innovative micronutrient formulations, implementation of digital solutions for nutrient management, the growth of e-commerce in fertilizer distribution, and the advent of customizable fertilizer blends.
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What are the most significant trends transforming the micronutrient fertilizer market today?
Leading firms in the micronutrient fertilizer market are directing their operations towards the creation of novel solutions, like water-soluble fertilizers, to augment nutrient accessibility and enhance agricultural output. Water-soluble fertilizers are those that dissolve completely in water for effective nutritional delivery to plants via irrigation. For instance, in June 2023, ICL Group Ltd., a chemical manufacturing firm based out of Israel, unveiled a new collection of water-soluble micronutrient and N-P-K fertilizers designed for the North American market; their aim being to augment crop nutrition via leading-edge foliar and fertigation approaches. This collection includes premium products such as Nova FINISH, Nova PULSE, Nova ELEVATE, and Nova FLOW, all of which are carefully formulated to provide pure, water-soluble nutrients, customized to meet specific crop requirements. This ensures supreme solubility, and compatibility with a range of herbicides and crop protectants.
Which key market segments comprise the micronutrient fertilizer market and drive its revenue growth?
The micronutrient fertilizermarket covered in this report is segmented -
1) By Type: Zinc (Zn), Boron (Bo), Iron (Fe), Manganese (Mn), Copper (Cu), Molybdenum (Mo), Silicon (Si), Nickel (Ni), Cobalt (Co), Other Types
2) By Form: Chelated, Non Chelated
3) By Crop Type: Grains And Cereals, Pulses And Oilseeds, Commercial Crops, Fruits And Vegetables, Other Crop Types
4) By Application Methods: Soil Application, Foliar Application, Fertigation, Other Applications
Subsegments:
1) By Zinc (Zn): Zinc Sulfate, Zinc Oxide, Zinc Chelates, Zinc Nitrate
2) By Boron (Bo): Borax, Boric Acid, Sodium Borate, Boron Chelates
3) By Iron (Fe): Iron Sulfate, Iron Chelates, Iron Oxide, Iron EDTA
4) By Manganese (Mn): Manganese Sulfate, Manganese Chelates, Manganese Oxide
5) By Copper (Cu): Copper Sulfate, Copper Chelates, Copper Oxide
6) By Molybdenum (Mo): Ammonium Molybdate, Sodium Molybdate, Molybdenum Oxide
7) By Silicon (Si): Calcium Silicate, Potassium Silicate, Sodium Metasilicate
8) By Nickel (Ni): Nickel Sulfate, Nickel Nitrate, Nickel Chelates
9) By Cobalt (Co): Cobalt Sulfate, Cobalt Nitrate, Cobalt Chloride
10) By Other Types: Selenium Fertilizers, Chlorine Fertilizers, Vanadium Fertilizers
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What regions are at the forefront of micronutrient fertilizer market expansion?
North America was the largest region in the micronutrient fertilizer market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the micronutrient fertilizer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the micronutrient fertilizer market?
Major companies operating in the micronutrient fertilizer market are Koch Industries Inc., BASF SE, Nutrien Ltd., Yara International ASA, The Mosaic Company, Corteva Inc., Akzo Nobel N.V., Israel Chemicals Ltd., K+S AG, FMC Corporation, Nouryon Specialty Chemicals B.V., Coromandel International Limited, Nufarm Limited, Compass Minerals International Inc., Haifa Negev Technologies Ltd., Aries Agro Ltd., AgroLiquid, Kugler Company, Van Iperen International B.V., Graco Fertilizer Company, Solufeed Ltd., Western Nutrients Corporation, Baicor LLC
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What Is Covered In The Micronutrient Fertilizer Global Market Report?
•Market Size Forecast: Examine the micronutrient fertilizer market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the micronutrient fertilizer market for a structured understanding.
•Key Players Overview: Analyze major players in the micronutrient fertilizer market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the micronutrient fertilizer market.
•Segment Contributions: Evaluate how different segments drive overall growth in the micronutrient fertilizer market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the micronutrient fertilizer market.
•Industry Challenges: Identify potential risks and obstacles affecting the micronutrient fertilizer market.
•Competitive Landscape: Review strategic developments in the micronutrient fertilizer market, including expansions, agreements, and new product launches.
Market Size
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