Press release
2025 Agricultural Micronutrients Market Outlook: Key Indicators Shaping Growth Through 2034
Agricultural Micronutrients
What Will the Agricultural Micronutrients Industry Market Size Be by 2025?
The size of the agricultural micronutrients market has significantly expanded in the past few years. It is projected to surge from $7.09 billion in 2024 to $8.13 billion in 2025, with a compound annual growth rate (CAGR) of 14.7%. Factors such as soil nutrient erosion, heightened awareness and education, government subsidies, crop diversification, and environmental considerations are credited with the growth experienced during the historic period.
What's the Long-Term Growth Forecast for the Agricultural Micronutrients Market Size Through 2029?
The market size of agricultural micronutrients is anticipated to witness a significant expansion in the upcoming years. The market is projected to balloon to $13.67 billion by 2029 with a compound annual growth rate (CAGR) of 13.9%. Factors fuelling this growth in the predicted period include the rise of emerging markets, population growth, precision agriculture developments, and increased research and development. There has also been a surge in organic farming. The forecast period will see emerging trends such as biological micronutrients, tailor-made micronutrient blends, the application of nanotechnology in micronutrients, micronutrient fortification, and sustainable sourcing.
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What Are the Key Growth Drivers Fueling the Agricultural Micronutrients Market Expansion?
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What Are the Key Trends Driving Agricultural Micronutrients Market Growth?
Rapid advancements in technology are having a significant impact on the agricultural micronutrients sector. This progress in technology, driven by novel discoveries and knowledge, aids in developing an improved product. For example, ICL Group Ltd., a company from Israel specializing in the production and development of metals, fertilizers, and specialty chemicals, introduced eqo.x in September 2022. This unique and innovative biodegradable release technology for open field agriculture minimizes nutrient wastage and enhances nutrient usage efficiency (NUE) by up to 80%. A coating aspect in this cutting-edge solution permits farmers to optimize their crop performance agriculturally while limiting the environmental impact. Additionally, the release technology can lower the frequency and quantity of nitrogen applications, maintain or raise yields with lesser fertilizer rates, and ensure consistent and reliable nutrient release.
How Is the Agricultural Micronutrients Market Segmented?
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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Which Companies Are Leading the Charge in Agricultural Micronutrients Market Innovation?
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
Which Regions Are Leading the Global Agricultural Micronutrients Market in Revenue?
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.
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