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Evolving Soil Micronutrient Deficiency Fuels Expansion Of The Crop Micronutrient Market: A Key Catalyst Accelerating Crop Micronutrients Market Growth in 2025
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.Crop Micronutrients Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size for crop micronutrients has seen robust growth in the recent past. The projections suggest a growth from $7.54 billion in 2024 to $8.28 billion in 2025, indicating a Compound Annual Growth Rate (CAGR) of 9.8%. The historical growth pattern can be associated with factors like increasing population, depletion of soil nutrients, improved awareness and education, as well as government initiatives.
Crop Micronutrients Market Size Forecast: What's the Projected Valuation by 2029?
The market size for crop micronutrients is predicted to undergo fast-paced growth in the upcoming years, escalating to $12.38 billion in 2029 with a compound annual growth rate (CAGR) of 10.6%. The projected growth during the forecast period is linked to factors such as precision farming, issues related to climate change, the adoption of organic farming practices, concerns about global food security, and increased consumer awareness. The forecast period is distinguished by major trends, including continued research and development, biological micronutrient, personalized micronutrient blends, the use of nano-fertilizers, the integration of digital agriculture, cooperative innovation efforts, a focus on secondary and micro-nutrients, and climate-smart farming methods.
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What Are the Drivers Transforming the Crop Micronutrients Market?
The crop micronutrient market's growth is anticipated to surge due to developing soil micronutrient deficiency. This deficiency refers to the lack of crucial vitamins and minerals required in small quantities for the healthy growth and development of the body. Micronutrients play a significant role in plant nutrients, present in minimal amounts, and contribute to the promotion of new plant growth. As per a study by the Center for Science and Environment (CSE) India, in 2022, nitrogen deficiency was observed in 90% of the soil samples gathered from 27 states, with 85% of the soil samples displaying a shortage of organic carbon. Additionally, 15% manifested low quantities of organic carbon, while 49% presented lowe levels of organic carbon. Therefore, the growing soil micronutrient shortage is propelling the expansion of the crop micronutrient market.
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What Trends Will Shape the Crop Micronutrients Market Through 2029 and Beyond?
A primary trend emerging in the crop micronutrient market is product development. The prominent companies in the market are prioritizing this to solidify their market standing. For example, in May 2024, Coromandel International, a fertilizer, pesticide, and specialty nutrient producer from India, introduced ten new products to the market. The product range includes a creative neem-coated bio plant and soil health booster, in addition to five other generic formulations, providing an array of crop protection solutions for Indian farmers. The goal of these products is to combat the fall armyworm, an insect that inflicts damage on approximately 30% of India's annual corn crop.
Which Segments in the Crop Micronutrients Market Offer the Most Profit Potential?
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 Firms Dominate the Crop Micronutrients Market by Market Share and Revenue in 2025?
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.
Which Regions Offer the Highest Growth Potential in 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
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