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Global Agricultural Micronutrients Market size was valued at USD 3917 million in 2021 and is poised to grow from USD 4229.28 million in 2022 to USD 7828.1 million by 2030, growing at a CAGR of 8% in the forecast period (2023-2030).

Agricultural Micronutrients Companies

Q: What is the key driver of the Global Agricultural Micronutrients Market?

The global market is growing as arable land in major agricultural producing countries shrinks and soil contamination worsens. Furthermore, increasing R&D investment by key market players in the development of affordable and efficient micronutrient fertilisers will positively shape the market during the forecast years. AgXplore, a leading agriculture specialty company, for example, introduced Microcoat, a blend of five vita micro and secondary nutrients. The new product is a dry fertiliser that contains a magnesium, sulphur, manganese, molybdenum, and zinc composite, making it an efficient nutrient delivery fertiliser. Furthermore, Gunther Kreps, AgXplore's director of sales, stated in a statement, ‘Microcoat is truly unique in that it allows dealers the flexibility to custom mix with any phosphorus and potassium fertiliser blend.’

Q: Which region accounted for the largest share in the GLOBAL Agricultural Micronutrients Market?

Asia-Pacific had the largest market share in the global market. The region's dominance can be attributed to high primary nutrient consumption and rising incidences of micronutrient deficiency in the soil. The region's growing population and rapidly increasing demand for nutrient-rich food will increase the use of micronutrient fertilisers.

Agricultural Micronutrients Market Competitive Landscape

Manufacturers concentrate on new product development in order to improve their market prospects. Global Agricultural Micronutrients Market is highly consolidated. The market is dominated by a few large companies, including Haifa Group, AkzoNobYara International, and The Mosaic Company. To increase their market share, these companies concentrate on product development and collaboration strategies. Furthermore, key fertiliser giants in Asia and Europe are making expanding product capacity development a top priority.

Agricultural Micronutrients Market Top Player's Company Profiles

Haifa Group
BASF SE
Nutrien Ltd.
Yara International ASA
The Mosaic Company
Coromandel International Limited
Compass Minerals International Inc.
Nufarm Limited
Sapec Agro Business
AkzoNobel N.V.
Wilbur-Ellis Holdings, Inc.
DowDuPont Inc.
Valagro SpA
ATP Nutrition
FMC Corporation
Bio Huma Netics Inc.
K+S AG
The Andersons Inc.
Sigma AgriScience, LLC
Brandt Consolidated, Inc.

Agricultural Micronutrients Market

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Agricultural Micronutrients Market size was valued at USD 3917 million in 2019 and is poised to grow from USD 4229.28 million in 2023 to USD 7828.1 million by 2031, growing at a CAGR of 8% in the forecast period (2024-2031).

Manufacturers concentrate on new product development in order to improve their market prospects. Agricultural Micronutrients Market is highly consolidated. The market is dominated by a few large companies, including Haifa Group, AkzoNobYara International, and The Mosaic Company. To increase their market share, these companies concentrate on product development and collaboration strategies. Furthermore, key fertiliser giants in Asia and Europe are making expanding product capacity development a top priority. 'Haifa Group', 'BASF SE', 'Nutrien Ltd.', 'Yara International ASA', 'The Mosaic Company', 'Coromandel International Limited', 'Compass Minerals International Inc.', 'Nufarm Limited', 'Sapec Agro Business', 'AkzoNobel N.V.', 'Wilbur-Ellis Holdings, Inc.', 'DowDuPont Inc.', 'Valagro SpA', 'ATP Nutrition', 'FMC Corporation', 'Bio Huma Netics Inc.', 'K+S AG', 'The Andersons Inc.', 'Sigma AgriScience, LLC', 'Brandt Consolidated, Inc.'

The market is growing as arable land in major agricultural producing countries shrinks and soil contamination worsens. Furthermore, increasing R&D investment by key market players in the development of affordable and efficient micronutrient fertilisers will positively shape the market during the forecast years. AgXplore, a leading agriculture specialty company, for example, introduced Microcoat, a blend of five vita micro and secondary nutrients. The new product is a dry fertiliser that contains a magnesium, sulphur, manganese, molybdenum, and zinc composite, making it an efficient nutrient delivery fertiliser. Furthermore, Gunther Kreps, AgXplore's director of sales, stated in a statement, "Microcoat is truly unique in that it allows dealers the flexibility to custom mix with any phosphorus and potassium fertiliser blend."

Soil health is a concern for crop growers because it is one of the most important factors in plant growth and development. Furthermore, ecological soil management has the potential to increase food production by 58%, according to the Food and Agriculture Organization (FAO). Soils that are productive lead to productive farms. Soil amendments and micronutrients are becoming increasingly popular agricultural inputs. Furthermore, many farmers see soil health as a way to safeguard the land for future generations. Aside from soil health, home gardening is gaining popularity around the world. Because of their nutritional value, horticultural crops are popular among home gardeners. Because of the COVID-19 pandemic, there is an increase in the number of home gardeners who want to grow their own food. Therefore, the growing trend of home-gardening and rising focus on soil health would increase the demand for micronutrients.

Asia-Pacific had the largest market share in the market. The region's dominance can be attributed to high primary nutrient consumption and rising incidences of micronutrient deficiency in the soil. The region's growing population and rapidly increasing demand for nutrient-rich food will increase the use of micronutrient fertilisers.

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Agricultural Micronutrients Market Size, Share, Growth Analysis, By Type(zinc, boron, iron, molybdenum), By End Use(Non-agricultural Cereal, Grains (Corn, Wheat, Rice)), By Application(Soil, Foliar, Fertigation), By Form(Chelated, Non-Chelated), By Region - Industry Forecast 2024-2031

Agricultural Micronutrients Market Competitive Landscape

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Agricultural Micronutrients Market Size, Share, Growth Analysis, By Type(zinc, boron, iron, molybdenum), By End Use(Non-agricultural Cereal, Grains (Corn, Wheat, Rice)), By Application(Soil, Foliar, Fertigation), By Form(Chelated, Non-Chelated), By Region - Industry Forecast 2024-2031

Agricultural Micronutrients Market Competitive Landscape

Agricultural Micronutrients Market Report Snapshots

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