Micronutrients Market: 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 By Geography  

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Micronutrients Market size was valued at USD 3.49 billion in 2022 and is expected to reach USD 6.83 billion by 2029, at a CAGR of 8.4% during the forecast period 2023-2029. 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.

Global Micronutrients Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

8.4%

Largest Market

Asia-Pacific

Fastest Growing Market

Europe
Micronutrients Market Dynamics

Micronutrient deficiency occurs all across the world, however it varies depending on the climate, soil conditions, rainfall, and other environmental factors. The global increase in the rate of soil micronutrient deficiencies is a major factor driving the global agricultural micronutrients market. Human activities such as soil depletion due to cultivation without proper fertiliser cause micronutrient deficiencies. Excess phosphate fertilisation also contributes to micronutrient scarcity. The availability of zinc, iron, and copper for crops is hampered by phosphate. Micronutrient deficiency is likely to rise in the coming years.

Key Features of the Reports

  • Global micronutrient market expanding at significant CAGR over 2023 to 2029 owing due to increasing cultivation and requirements for high vegetable yield
  • Based on region, North America accounted for larger market revenue share in 2022 and projected gain market revenue share over the forecast period
  • Players focusing on innovation of newer products and collaboration strategies to retain market position in global market.

Global Micronutrients Market Segmentation

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
  • Non-Chelated
By Application
  • Soil
  • Foliar
  • Fertigation
  • Others

Frequently Asked Questions

The micronutrients market size was valued at USD 3.49 billion in 2022

The key segments covered in the micronutrients market are: by type, crop, application, and form

The micronutrients market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.

Table of Content

  1. Executive Summary
  2. Global Micronutrients Market Introduction
    • Global Micronutrients Market Taxonomy
    • Global Micronutrients Market Definitions
      • Type
      • Crop
      • Application
      • Form
  1. Global Micronutrients Market Dynamics
    • Drivers
    • Restraints
    • Opportunities/Unmet Needs of the Market
    • Trends
    • Global Micronutrients Market Dynamic Factors - Impact Analysis
    • Global Micronutrients Market Competition Landscape
  2. Global Micronutrients Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029
    • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
    • Year-over-Year (Y-o-Y) Growth Analysis (%)
    • Market Opportunity Analysis
  3. Global Micronutrients Market, By Type, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
    • Zinc
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Boron
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Iron
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Manganese
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Molybdenum
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Others
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
  1. Global Micronutrients Market Forecast, By Crop, 2018 - 2022 and Forecast, 2020 2026 (Revenue, USD Mn)
    • Cereals & grains
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Oilseeds & pulses
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Fruits & vegetables
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Others
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
  1. Global Micronutrients Market Forecast, By Application, 2018 - 2022 and Forecast, 2020 2026 (Revenue, USD Mn)
    • Soil
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Foliar
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Fertigation
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Others
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
  1. Global Micronutrients Market Forecast, By Form, 2018 - 2022 and Forecast, 2023 - 2029
    • Chelated
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Non-Chelated
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
  1. Global Micronutrients Market Forecast, By Region, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
    • North America
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Europe
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Asia-Pacific
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Latin America
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Middle East and Africa
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Global Micronutrients Market - Opportunity Analysis Index, By Type, Crop, Application, Form and Region, 2023 - 2029
  2. North America Micronutrients Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
    • Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Zinc
      • Boron
      • Iron
      • Manganese
      • Molybdenum
      • Others
    • Crop Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Cereals & grains
      • Oilseeds & pulses
      • Fruits & vegetables
      • Others
    • Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Soil
      • Foliar
      • Fertigation
      • Others
    • Form Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Chelated
      • Non-Chelated
    • Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • USA
      • Canada
    • North America Micronutrients Market - Opportunity Analysis Index, By Type, Crop, Application, Form and Country, 2023 - 2029
    • North America Micronutrients Market Dynamics Trends
  3. Europe Micronutrients Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
    • Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Zinc
      • Boron
      • Iron
      • Manganese
      • Molybdenum
      • Others
    • Crop Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Cereals & grains
      • Oilseeds & pulses
      • Fruits & vegetables
      • Others
    • Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Soil
      • Foliar
      • Fertigation
      • Others
    • Form Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Chelated
      • Non-Chelated
    • Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Germany
      • UK
      • France
      • Spain
      • Italy
      • Russia
      • Poland
      • Rest of Europe
    • Europe Micronutrients Market - Opportunity Analysis Index, By Type, Crop, Application, Form and Country, 2023 - 2029
    • Europe Micronutrients Market Dynamics Trends
  4. Asia-Pacific Micronutrients Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
    • Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Zinc
      • Boron
      • Iron
      • Manganese
      • Molybdenum
      • Others
    • Crop Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Cereals & grains
      • Oilseeds & pulses
      • Fruits & vegetables
      • Others
    • Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Soil
      • Foliar
      • Fertigation
      • Others
    • Form Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Chelated
      • Non-Chelated
    • Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Japan
      • China
      • India
      • ASEAN
      • Australia & New Zealand
      • Rest of Asia-Pacific
    • Asia-Pacific Micronutrients Market - Opportunity Analysis Index, By Type, Crop, Application, Form and Country, 2023 - 2029
    • Asia-Pacific Micronutrients Market Dynamics Trends
  5. Latin America Micronutrients Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
    • Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Zinc
      • Boron
      • Iron
      • Manganese
      • Molybdenum
      • Others
    • Crop Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Cereals & grains
      • Oilseeds & pulses
      • Fruits & vegetables
      • Others
    • Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Soil
      • Foliar
      • Fertigation
      • Others
    • Form Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Chelated
      • Non-Chelated
    • Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
    • Latin America Micronutrients Market - Opportunity Analysis Index, By Type, Crop, Application, Form and Country, 2023 - 2029
    • Latin America Micronutrients Market Dynamics Trends
  6. Middle East and Africa Micronutrients Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
    • Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Zinc
      • Boron
      • Iron
      • Manganese
      • Molybdenum
      • Others
    • Crop Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Cereals & grains
      • Oilseeds & pulses
      • Fruits & vegetables
      • Others
    • Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Soil
      • Foliar
      • Fertigation
      • Others
    • Form Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Chelated
      • Non-Chelated
    • Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Gulf Cooperation Council (GCC) Countries
      • Israel
      • South Africa
      • Rest of MEA
    • MEA Micronutrients Market - Opportunity Analysis Index, By Type, Crop, Application, Form and Country, 2023 - 2029
    • MEA Micronutrients Market Dynamics Trends
  7. Competition Landscape
    • Strategic Dashboard of Top Market Players
    • Company Profiles (Introduction, Financial Analysis, Aptamer Type & Service Offerings, Key Developments, Strategies, and SWOT Analysis)
      • BASF SE (Germany)
      • AkzoNobel (Netherlands)
      • Nutrien, Ltd. (Canada)
      • Yara International ASA (Norway)
      • The Mosaic Company (US)
      • Compass minerals international (US)
      • Valagro (Italy)
      • Tradecorp International (Spain)
      • Gujarat State Fertilizers & Chemicals (India)
      • Coromandel International Ltd (US).
  1. Research Methodology
  2. Key Assumptions and Acronyms

 

    • BASF SE (Germany)
    • AkzoNobel (Netherlands)
    • Nutrien, Ltd. (Canada)
    • Yara International ASA (Norway)
    • The Mosaic Company (US)
    • Compass minerals international (US)
    • Valagro (Italy)
    • Tradecorp International (Spain)
    • Gujarat State Fertilizers & Chemicals (India)
    • Coromandel International Ltd (US)

Adjacent Markets