Micronutrients Market Size, Share, Growth, Trends, and Global Industry Analysis: By Type (Zinc, Boron, Iron, Manganese, Molybdenum, Others (Chlorine and Nickel), By Crop (Cereals & grains, Oilseeds & pulses, Fruits & vegetables, Others (Turfs, ornamentals, plantation crops, forages, and fiber crops), By Form (Chelated and Non-Chelated), By Application (Soil, Foliar, Fertigation, Others (Seed treatment, trunk injection, and implantation), and Region Forecast 2019-2030

Micronutrients Market size was valued at US$ 3.49 billion in 2023 and is expected to reach US$ 6.83 billion by 2029, at a CAGR of 8.4% from 2024-2030. Micronutrients are vital nutrients that are required for plant growth as well as metabolic activity. Micronutrients aid in the enhancement of plant or crop flavour, quality, and colour. These also aid to improve fertiliser efficiency while also reducing water usage. Micronutrients aid in the development of robust roots as well as the formation of entire molecules and proteins, which aids in crop immunity. During the forecast period, the market for crop micronutrients is expected to increase at a healthy rate. Growing soil deficiencies, together with greater knowledge among farmers or crop growers about the supply of necessary nutrients to crops, are the key reasons driving market expansion. Furthermore, there has been an ever-increasing awareness of food security, which is a major driver of crop micronutrient demand. The growing desire for higher crop output and productivity is expected to drive up demand for these nutrients, which are thought to be very efficient in improving crop yield. A significant decrease in arable land, combined with an increase in the global growing demand for food, has increased the pressure on the limited available resources. As a result, farmers are using various micronutrients to improve yield in the limited available land, which is also shaping up the market growth over the next five years.