What is the current size and annual growth rate of the micronutrient fertilizer market?
The micronutrient fertilizer market size has grown strongly in recent years. It will grow from $4.33 $ billion in 2024 to $4.63 $ billion in 2025 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to increased crop yields, soil depletion, growing awareness, increasing government support, rising demand for high-value crops, and improved fertilizer distribution networks.
The micronutrient fertilizer market size is expected to see strong growth in the next few years. It will grow to $6.02 $ billion in 2029 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to rising population, growing sustainable farming practices, climate change, increased crop diversity, expansion of agricultural land, increasing focus on soil health, and growing adoption of precision agriculture. Major trends in the forecast period include the adoption of precision agriculture, the development of advanced micronutrient formulations, the integration of digital technologies for nutrient management, the expansion of e-commerce for fertilizer distribution, and the development of customizable fertilizer blends.
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Which major factors have contributed to the expansion of the micronutrient fertilizer market?
The increasing degradation of soil is expected to propel the growth of the micronutrient fertilizer market going forward. Soil degradation is the decline in soil quality and productivity caused by various factors, leading to reduced agricultural output and environmental health. Soil degradation is primarily caused by unsustainable agricultural practices, deforestation, and industrial activities, leading to erosion, nutrient depletion, and the loss of organic matter. Climate change and overgrazing further exacerbate the decline in soil health. Micronutrient fertilizers help combat soil degradation by replenishing essential nutrients, enhancing soil fertility, and promoting sustainable crop growth. For instance, in April 2022, according to the United Nations Convention to Combat Desertification (UNCCD), a Germany-based international trade and development organization, up to 40% of Earth’s land had been degraded, impacting half of the global population. By 2050, land degradation is projected to encompass 16 million square kilometers, an area roughly equivalent to South America. Therefore, increasing soil degradation is driving the growth of the micronutrient fertilizer market.
How is the micronutrient fertilizer market segmented?
The micronutrient fertilizermarket covered in this report is segmented –
1) By Type: Zinc (Zn), Boron (Bo), Iron (Fe), Manganese (Mn), Copper (Cu), Molybdenum (Mo), Silicon (Si), Nickel (Ni), Cobalt (Co), Other Types
2) By Form: Chelated, Non Chelated
3) By Crop Type: Grains And Cereals, Pulses And Oilseeds, Commercial Crops, Fruits And Vegetables, Other Crop Types
4) By Application Methods: Soil Application, Foliar Application, Fertigation, Other Applications
Subsegments:
1) By Zinc (Zn): Zinc Sulfate, Zinc Oxide, Zinc Chelates, Zinc Nitrate
2) By Boron (Bo): Borax, Boric Acid, Sodium Borate, Boron Chelates
3) By Iron (Fe): Iron Sulfate, Iron Chelates, Iron Oxide, Iron EDTA
4) By Manganese (Mn): Manganese Sulfate, Manganese Chelates, Manganese Oxide
5) By Copper (Cu): Copper Sulfate, Copper Chelates, Copper Oxide
6) By Molybdenum (Mo): Ammonium Molybdate, Sodium Molybdate, Molybdenum Oxide
7) By Silicon (Si): Calcium Silicate, Potassium Silicate, Sodium Metasilicate
8) By Nickel (Ni): Nickel Sulfate, Nickel Nitrate, Nickel Chelates
9) By Cobalt (Co): Cobalt Sulfate, Cobalt Nitrate, Cobalt Chloride
10) By Other Types: Selenium Fertilizers, Chlorine Fertilizers, Vanadium Fertilizers
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Who are the top competitors in the micronutrient fertilizer market?
Major companies operating in the micronutrient fertilizer market are Koch Industries Inc., BASF SE, Nutrien Ltd., Yara International ASA, The Mosaic Company, Corteva Inc., Akzo Nobel N.V., Israel Chemicals Ltd., K+S AG, FMC Corporation, Nouryon Specialty Chemicals B.V., Coromandel International Limited, Nufarm Limited, Compass Minerals International Inc., Haifa Negev Technologies Ltd., Aries Agro Ltd., AgroLiquid, Kugler Company, Van Iperen International B.V., Graco Fertilizer Company, Solufeed Ltd., Western Nutrients Corporation, Baicor LLC
Which key trends are expected to influence the micronutrient fertilizer market in the coming years?
Major companies operating in the micronutrient fertilizer market are focusing on developing innovative solutions, such as water-soluble fertilizers, to enhance nutrient availability and improve crop yields. Water-soluble fertilizers refer to fertilizers that completely dissolve in water, allowing for efficient nutrient delivery directly to plants through irrigation systems. For instance, in June 2023, ICL Group Ltd., an Israel-based chemical manufacturing company, launched a new line of water-soluble micronutrient and N-P-K fertilizers in North America, targeting improved crop nutrition through advanced foliar and fertigation methods. This range features flagship products such as Nova FINISH, Nova PULSE, Nova ELEVATE, and Nova FLOW, all designed to offer high-purity, water-soluble nutrients tailored to specific crop needs, ensuring optimal solubility and compatibility with a variety of herbicides and crop protectants.
Which regional trends are influencing the micronutrient fertilizer market, and which area dominates the industry?
North America was the largest region in the micronutrient fertilizer market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the micronutrient fertilizer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Micronutrient Fertilizer Market Report 2025 Offer?
The micronutrient fertilizer market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Micronutrient fertilizers are specialized fertilizers that supply essential trace elements required in small quantities for plant growth, such as zinc, copper, iron, and manganese. They enhance soil fertility and improve plant health by addressing micronutrient deficiencies. These fertilizers are crucial for optimizing crop yields and ensuring balanced nutrition.
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