Crop Micronutrients Market Size, Share, Growth, Trends, and Global Industry Analysis: By Crop (Cereals, Pulses & Oil Seeds, Fruits & Vegetables, and Others), By Product Type (Copper, Zinc, Boron, Iron, Molybdenum, Manganese, and Others), By Application (Foliar, Fertigation, Seed Treatment, Soil Treatment, and Others) and Region  

Crop Micronutrients Market size was valued at US$ 5.5 billion in 2023.  It is expected to reach US$ 9.01 billion by 2030 recording a CAGR of 9% from 2024-2030. The major factors anticipated to propel the global agricultural micronutrients market over the forecast period include a growing population and rising concerns about food security are expected to propel the agricultural micronutrients market during the forecast period.

Increasing adoption and awareness of various micronutrients and their benefits such as a fundamental role in several critical functions in the cell such as protein metabolism, gene expression, structural and functional integrity of bio-membranes, photosynthetic metabolism, catalyst in the synthesis of the chlorophyll molecule, helps to absorb other elements, regulating multiple biochemical reactions, reduce microbial populations, improve keeping quality. The growing incidence of micronutrient deficiencies in crops has increased markedly in recent years due to intensive cropping, soil erosion, losses of nutrients through leaching, liming of acid soils, unbalanced fertilizer application including NPK and no replenishment are the other major factors expected to create huge demand for agriculture micronutrients over the forecast period.

Crop Micronutrients Market Segment Analysis:

The Cereals segment accounts for 51.8% market share in 2021, rising demand for high yields and good quality crops across the globe and rising awareness of micronutrients to avoid yield losses in crops and impaired crop quality among farmers and manufacturers are the major factors expected to rise cereals segment over the forecast period.

Increasing usage of boron micronutrients for oil seed production, Manganese and Molybdenum micronutrients for chlorophyll formation, photosynthesis, and nitrogen uptake especially for the crops that are growing in acidic soils are the major factors expected to drive the pulses & oil seeds crop segment market over the forecast period. Other factors such as heavy investments by leading manufacturers in research and development projects to provide environmental-friendly biodegradable and coated technology-based products, adoption of new technologies for the application of micronutrients for various crops by farmers to improve the soil fertility by preventing physiological disorders/diseases in plants, to enhance both the quality and quantity of pulses and oil seeds crops are poised to enhance the demand for micronutrient fertilizers products during the forecast period.

Companies are developing various technologies for agricultural micronutrients such as Koch Agronomics, which provides “evencote” technology designed to coat onto dry fertilizer blends and deliver highly available nutrition through better distribution in the field when compared to traditional granular micronutrients.

Haifa Technologies provides Nutrigation™ technology for micronutrients by which water and plant nutrients are delivered simultaneously through the irrigation system which Reduces losses of nutrients by leaching.

Companies are developing and offering different web and mobile apps to help growers worldwide gain full benefits from their crops. The company shares comprehensive plant nutrition knowledge through a set of online tools. For instance, Haifa Technologies provides a “Deficiency Pro” web application that help to identify deficiency by specific crops, or through the type of Micronutrient or macronutrients such as Zn, Fe Etc. BASF also provides BASF AgGenie, a one-stop solution in farm management.

Manufacturers are fully invested in developing the micronutrients market expanding their R&D efforts, delivering new products with proven efficacy, and ensuring they work with existing offerings. Such research is going on for micronutrient supplementation in various ways such as Foliar or Fertigation.