- Chelated products,
- Non-chelated products
Agriculture Micronutrients Market size was valued at USD 4.82 billion in 2023. It is expected to reach USD 7.01 billion by 2030 recording a CAGR of 8.5% from 2024-2030. Agriculture Micronutrients Market is the essential element for plants, which are required in very small quantities. Micronutrients are the fundamental input in agriculture to improve the quality and yield of agricultural products. The most commonly used agriculture micronutrients include Boron, Zinc, Copper, Manganese, Iron, Molybdenum, Nickel, and among others. Micronutrients perform a different function for the development and growth of plant and require less than a pound per acre. Due to the lack of these micronutrients, critical functions of the plant are limited and result in plant abnormities, lower yield, and reduced growth of the plant. The rise in global population and decrease in arable land, increase in soil deficiency due to soil and water pollution, rise in demand for biofuels, and growing demand for quality food products with better yields are fuelling the market. Moreover, innovation of newer products, shrinkage in agricultural land due to the rise in population, and deficiency of micronutrients in agricultural land due to the rise in usage of chemical fertilizers are anticipated to propel the market over the forecast period. However, lack of awareness regarding the proper application and appropriate dosage of agricultural micronutrients in undeveloped countries and the high cost of the products are expected to restrain the market over the forecast period.
Study Period
Base Year
CAGR
Largest Market
Fastest Growing Market
The market is growing at a significant CAGR due to increase in the population demanding for high-quality food products. Moreover, efficiency of the soil is gradually decreasing due to pollution of water and soil with excessive use of fertilizers. Agriculture scientists are focusing on high product yields in less cultivation area, which is expected to propel the market. Moreover, increase in the R&D activities for the innovation of newer products, acquisition and mergers, product approvals and launchings, patent fillings, and collaborations are the strategies followed by agriculture industries to increase their revenue share. For instance, in June 2013, Novozymes acquired TJ Technologies Inc. for strengthening its position in bioagriculture including agriculture micronutrients product portfolio. In addition, Zero Gravity Solutions, Inc. received a U.S. patent for its product BAM-FX an agriculture micronutrient product, which increase the efficiency of fertilizers use.
The agriculture micronutrients market size was valued at USD 4.82 billion in 2023
The agriculture micronutrients market key players are: AkzoNobel N.V. (Netherlands) BASF SE (Germany) Agrium, Inc. (Canada) The Dow Chemical Company (U.S.) The Mosaic Company (U.S.) Novozymes (Denmark) Sumitomo Corporation (Japan) Helena Chemical Company (U.S.) Nufarm Ltd. (Australia) SUL4R-PLUS, LLC (U.S.) Yara International (Norway) Land OLakes, Inc. (U.S.)
The agriculture micronutrients market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
1. Executive Summary |
2. Global Agriculture Micronutrients Market |
2.1. Introduction |
2.2. Taxonomy |
2.3. Definitions |
2.3.1. Product Type |
2.3.2. Micronutrient Type |
2.3.3. Crop Type |
2.3.4. Mode of Application |
3. Global Agriculture Micronutrients Market Dynamics |
3.1. Drivers |
3.2. Restraints |
3.3. Opportunities/Unmet Needs of the Market |
3.4. Trends |
3.5. Global Agriculture Micronutrients Market Dynamic Factors - Impact Analysis |
3.6. Competition Landscape |
3.7. Epidemiology |
4. Global Agriculture Micronutrients Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 |
4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
4.3. Market Opportunity Analysis |
5. Global Agriculture Micronutrients Market, By Product Type, 2019 - 2023 and Forecast, 2024 - 2030 |
5.1. Chelated products |
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.1.3. Market Opportunity Analysis |
5.2. Non-chelated products |
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.2.3. Market Opportunity Analysis |
6. Global Agriculture Micronutrients Market Forecast, By Micronutrient Type, 2019 - 2023 and Forecast, 2024 - 2030 |
6.1. Iron |
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.1.3. Market Opportunity Analysis |
6.2. Copper |
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.2.3. Market Opportunity Analysis |
6.3. Zinc |
6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.3.3. Market Opportunity Analysis |
6.4. Magnesium |
6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.4.3. Market Opportunity Analysis |
6.5. Molybdenum |
6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
6.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.5.3. Market Opportunity Analysis |
6.6. Manganese |
6.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
6.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.6.3. Market Opportunity Analysis |
6.7. Boron |
6.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
6.7.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.7.3. Market Opportunity Analysis |
6.8. Others |
6.8.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
6.8.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.8.3. Market Opportunity Analysis |
7. Global Agriculture Micronutrients Market Forecast, By Crop Type, 2019 - 2023 and Forecast, 2024 - 2030 |
7.1. Cereals |
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.1.3. Market Opportunity Analysis |
7.2. Oilseeds and pulses |
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.2.3. Market Opportunity Analysis |
7.3. Vegetables and fruits |
7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.3.3. Market Opportunity Analysis |
7.4. Others |
7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.4.3. Market Opportunity Analysis |
8. Global Agriculture Micronutrients Market Forecast, By Mode of Application, 2019 - 2023 and Forecast, 2024 - 2030 |
8.1. Foliar |
8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.1.3. Market Opportunity Analysis |
8.2. Soil |
8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.2.3. Market Opportunity Analysis |
8.3. Fertigation |
8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.3.3. Market Opportunity Analysis |
9. Global Agriculture Micronutrients Market Forecast, By Region, 2019 - 2023 and Forecast, 2024 - 2030 |
9.1. North America |
9.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
9.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.1.3. Market Opportunity Analysis |
9.2. Europe |
9.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
9.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.2.3. Market Opportunity Analysis |
9.3. Asia-Pacific |
9.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
9.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.3.3. Market Opportunity Analysis |
9.4. Latin America |
9.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
9.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.4.3. Market Opportunity Analysis |
9.5. Middle East and Africa |
9.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
9.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.5.3. Market Opportunity Analysis |
9.6. Opportunity Analysis Index, By Product Type, By Micronutrient Type, By Crop Type, By Mode of Application and Region, 2024 - 2030 |
10. North America Agriculture Micronutrients Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 |
10.1. Product Type Analysis |
10.1.1. Chelated products |
10.1.2. Non-chelated products |
10.2. Micronutrient Type Analysis |
10.2.1. Iron |
10.2.2. Copper |
10.2.3. Zinc |
10.2.4. Magnesium |
10.2.5. Molybdenum |
10.2.6. Manganese |
10.2.7. Boron |
10.2.8. Others |
10.3. Crop Type Analysis |
10.3.1. Cereals |
10.3.2. Oilseeds and pulses |
10.3.3. Vegetables and fruits |
10.3.4. Others |
10.4. Mode of Application Analysis |
10.4.1. Foliar |
10.4.2. Soil |
10.4.3. Fertigation |
10.5. Country Analysis |
10.5.1. U.S. |
10.5.2. Canada |
10.6. Opportunity Analysis Index, By Product Type, By Micronutrient Type, By Crop Type, By Mode of Application and Region, 2024 - 2030 |
10.7. North America Agriculture Micronutrients Market Dynamics – Trends |
11. Europe Agriculture Micronutrients Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 |
11.1. Product Type Analysis |
11.1.1. Chelated products |
11.1.2. Non-chelated products |
11.2. Micronutrient Type Analysis |
11.2.1. Iron |
11.2.2. Copper |
11.2.3. Zinc |
11.2.4. Magnesium |
11.2.5. Molybdenum |
11.2.6. Manganese |
11.2.7. Boron |
11.2.8. Others |
11.3. Crop Type Analysis |
11.3.1. Cereals |
11.3.2. Oilseeds and pulses |
11.3.3. Vegetables and fruits |
11.3.4. Others |
11.4. Mode of Application Analysis |
11.4.1. Foliar |
11.4.2. Soil |
11.4.3. Fertigation |
11.5. Country Analysis |
11.5.1. Germany |
11.5.2. UK |
11.5.3. France |
11.5.4. Spain |
11.5.5. Italy |
11.5.6. Russia |
11.5.7. Poland |
11.5.8. Rest of Europe |
11.6. Opportunity Analysis Index, By Product Type, By Micronutrient Type, By Crop Type, By Mode of Application and Region, 2024 - 2030 |
11.7. Europe Agriculture Micronutrients Market Dynamics – Trends |
12. Asia-Pacific Agriculture Micronutrients Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 |
12.1. Product Type Analysis |
12.1.1. Chelated products |
12.1.2. Non-chelated products |
12.2. Micronutrient Type Analysis |
12.2.1. Iron |
12.2.2. Copper |
12.2.3. Zinc |
12.2.4. Magnesium |
12.2.5. Molybdenum |
12.2.6. Manganese |
12.2.7. Boron |
12.2.8. Others |
12.3. Crop Type Analysis |
12.3.1. Cereals |
12.3.2. Oilseeds and pulses |
12.3.3. Vegetables and fruits |
12.3.4. Others |
12.4. Mode of Application Analysis |
12.4.1. Foliar |
12.4.2. Soil |
12.4.3. Fertigation |
12.5. Country Analysis |
12.5.1. Japan |
12.5.2. China |
12.5.3. India |
12.5.4. ASEAN |
12.5.5. Australia & New Zealand |
12.5.6. Rest of Asia-Pacific |
12.6. Opportunity Analysis Index, By Product Type, By Micronutrient Type, By Crop Type, By Mode of Application and Region, 2024 - 2030 |
12.7. Asia-Pacific Agriculture Micronutrients Market Dynamics – Trends |
13. Latin America Agriculture Micronutrients Market Analysis, 2012 - 2012 - 2019 - 2023 and Forecast, 2024 - 2030 |
13.1. Product Type Analysis |
13.1.1. Chelated products |
13.1.2. Non-chelated products |
13.2. Micronutrient Type Analysis |
13.2.1. Iron |
13.2.2. Copper |
13.2.3. Zinc |
13.2.4. Magnesium |
13.2.5. Molybdenum |
13.2.6. Manganese |
13.2.7. Boron |
13.2.8. Others |
13.3. Crop Type Analysis |
13.3.1. Cereals |
13.3.2. Oilseeds and pulses |
13.3.3. Vegetables and fruits |
13.3.4. Others |
13.4. Mode of Application Analysis |
13.4.1. Foliar |
13.4.2. Soil |
13.4.3. Fertigation |
13.5. Country Analysis |
13.5.1. Brazil |
13.5.2. Mexico |
13.5.3. Argentina |
13.5.4. Venezuela |
13.5.5. Rest of Latin America |
13.6. Opportunity Analysis Index, By Product Type, By Micronutrient Type, By Crop Type, By Mode of Application and Region, 2024 - 2030 |
13.7. Latin America Agriculture Micronutrients Market Dynamics – Trends |
14. Middle East and Africa Agriculture Micronutrients Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 |
14.1. Product Type Analysis |
14.1.1. Chelated products |
14.1.2. Non-chelated products |
14.2. Micronutrient Type Analysis |
14.2.1. Iron |
14.2.2. Copper |
14.2.3. Zinc |
14.2.4. Magnesium |
14.2.5. Molybdenum |
14.2.6. Manganese |
14.2.7. Boron |
14.2.8. Others |
14.3. Crop Type Analysis |
14.3.1. Cereals |
14.3.2. Oilseeds and pulses |
14.3.3. Vegetables and fruits |
14.3.4. Others |
14.4. Mode of Application Analysis |
14.4.1. Foliar |
14.4.2. Soil |
14.4.3. Fertigation |
14.5. Country Analysis |
14.5.1. Gulf Cooperation Council (GCC) Countries |
14.5.2. Israel |
14.5.3. South Africa |
14.5.4. Rest of MEA |
14.6. Opportunity Analysis Index, By Product Type, By Micronutrient Type, By Crop Type, By Mode of Application and Region, 2024 - 2030 |
14.7. MEA Agriculture Micronutrients Market Dynamics – Trends |
15. Competition Landscape |
15.1. Strategic Dashboard of Top Market Players |
15.2. Company Profiles (Introduction, Financial Analysis, Drug Class& Service Offerings, Key Developments, Strategies, and SWOT Analysis) |
15.2.1. AkzoNobel N.V. (Netherlands) |
15.2.2. BASF SE (Germany) |
15.2.3. Agrium, Inc. (Canada) |
15.2.4. The Dow Chemical Company (U.S.) |
15.2.5. The Mosaic Company (U.S.), Novozymes (Denmark) |
15.2.6. Sumitomo Corporation (Japan) |
15.2.7. Helena Chemical Company (U.S.) |
15.2.8. Nufarm Ltd. (Australia) |
15.2.9. SUL4R-PLUS, LLC (U.S.) |
15.2.10. Yara International (Norway) |
15.2.11. Land O’Lakes, Inc. (U.S.) |
16. Research Methodology |
17. Key Assumptions and Acronyms |