Global Agricultural Micronutrients Market Size, Share, and Forecast Analysis 2025-2029

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What Are the Agricultural Micronutrients Market Size Forecast for 2025?
In recent times, the agriculture micronutrients market has experienced a significant growth in its size. The market, which stands at $7.09 billion as of 2024, is predicted to expand to $8.07 billion by 2025, showcasing a compound annual growth rate (CAGR) of 13.8%. The historical growth in this area can be credited to factors such as reduction in soil nutrients, increased awareness and education, government incentives, crop diversification, and environmental considerations.

What Is the Market Size Outlook for Agricultural Micronutrients Until 2029?
In the coming years, the market size for agricultural micronutrients is predicted to witness significant surge. The market is projected to rise to a worth of $13.38 billion in 2029, with a compound annual growth rate (CAGR) of 13.5%. Such growth during the forecast period can be ascribed to the emergence of new markets, population expansion, precision farming, advancements in research and development, along with the rise in organic farming. Key trends during the projection period encompass biological micronutrients, customized blends of micronutrients, the application of nanotechnology in micronutrients, micronutrient fortification, as well as sustainable sourcing practices.

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What Are the Major Factors Driving Demand in the Agricultural Micronutrients Market?
The agricultural micronutrients market is anticipated to expand due to the increasing micronutrient deficiency in soil. The deficiency of essential elements such as manganese, copper, zinc, boron, iron, sulphur, and molybdenum in the soil is known as micronutrient deficiency. This deficiency is a significant issue for farmers, as it leads to reduced farm productivity and profitability. For instance, a report released by ICAR, an Indian apex agricultural body, in October 2022 showcased data from 615 agricultural districts across 28 Indian states. The findings showed that the scarcity of S (58.6% of soils), Zn (51.2% of soils), and B (44.7% of soils) was more prevalent than those of elements like Fe (19.2% of soils), Cu (11.4% of soils), and Mn (17.4% of soils). The report further stated that more than half of the soils in 101, 131, and 86 districts respectively lacked sufficient quantities of S, Zn, and B. Consequently, this mounting micronutrient deficiency in soil is steering the growth of the agricultural micronutrients market.

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How Are End-Use Segments Shaping the Agricultural Micronutrients Market Outlook?
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

What Are the Strategic Trends Transforming the Agricultural Micronutrients Market Landscape?
The agricultural micronutrients market is being reshaped by technological innovations. This involves the creation of advanced technology and refined products through increased knowledge. A clear illustration of this happened in September 2022, when ICL Group Ltd., an Israeli company that engineers and produces metals, fertilizers, and specialty chemicals, introduced eqo.x. This groundbreaking technology, designed for open field agriculture, is rapidly biodegradable and helps maximize crop yield and minimizes ecological damage. It lowers nutrient wastage and boosts nutrient use efficiency (NUE) by up to 80% by using a special coating. This innovative technology has the potential to decrease the quantity and volume of nitrogen applications, sustain or boost yields with lesser fertilizer rates, and ensure a stable and regular nutrient release.

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Who Are the Prominent Companies in the Agricultural Micronutrients Market by ?
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 Region Is Expected to See the Highest CAGR 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.

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