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Agricultural Micronutrients Market Growth, Scope, Trends Analysis and Forecast By 2027

According to IMARC Group’s latest report, titled “Agricultural Micronutrients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, The global agricultural micronutrients market size reached US$ 4.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 7.9 Billion by 2027, exhibiting a growth rate (CAGR) of 8.56% during 2022-2027.

Agriculture micronutrients are essential plant nutrients added to the soil in small quantities. Boron, iron, zinc, molybdenum and manganese are some of the commonly used agricultural micronutrients. They are utilized to increase the yield and quality of agricultural products and are found in non-chelated and chelated forms. They also provide the essential nutrients required for optimal plant growth and development. They are widely used with soil, fertigation systems and foliar sprays. Micronutrients are mixed with dry and liquid fertilizers to provide uniform distribution of nutrients and promote plant metabolism.

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Agricultural Micronutrients Market Trends:

The global agricultural micronutrients market is primarily being driven by the rising incidences of micronutrient deficiency in the soil. Agricultural micronutrients are essential for the overall growth of the plant, especially in soil with low organic matter and high calcium carbonate content. Moreover, the widespread adoption of zinc chelate-based agricultural products is providing a thrust to the market growth as zinc is essential for the production of auxins that facilitate growth and stem elongation in plants. Other factors, including the widespread utilization of fertilizers enriched with micronutrients for protection against insects and ultraviolet (UV) radiations, along with the implementation of favorable government policies promoting the use of environment-friendly agrochemicals, are anticipated to drive the market toward growth.

Competitive Landscape with Key Players:

The competitive landscape of the industry has also been examined along with the profiles of the key players:

  • ATP Nutrition (Concentric Agriculture Inc.)
  • Balchem Corporation
  • BASF SE
  • Compass Minerals International
  • Coromandel International Ltd. (Murugappa Group and EID Parry)
  • Corteva Inc.
  • Helena Agri-Enterprises LLC (Marubeni Corporation)
  • Nufarm Canada, Stoller USA Inc.
  • The Mosaic Company
  • Valagro SpA (Syngenta Crop Protection AG)
  • Yara International ASA
  • Zuari Agro Chemicals Ltd.

Key Market Segmentation:

The report has categorized the market based on type, crop type, form, application and region.

Breakup by Type:

  • Zinc
  • Boron
  • Iron
  • Manganese
  • Molybdenum
  • Others

Breakup by Crop Type:

  • Cereals
  • Pulses and Oilseeds
  • Fruits and Vegetables
  • Others

Breakup by Form:

  • Chelated
  • Non-Chelated

Breakup by Application:

  • Soil
  • Foliar
  • Fertigation
  • Others

Breakup by Region:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)

Key Highlights of The Report:                                                    

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Market Trends
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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