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 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).

Agricultural micronutrients are essential for plant growth and play an important role in crop nutrition. Zinc, manganese, nickel, boron, copper, molybdenum, and chloride are among them. Despite the presence of sufficient nutrients, a lack of any of these micronutrients in the soil can impede plant growth. The government's assistance and the various strategies used by micronutrient manufacturers during this pandemic have resulted in a 2.50% increase in global sales of agricultural micronutrients over the previous year. The increasing adoption of technology by government agencies, as well as the implementation of supportive policies to assist farmers, will increase demand for the product. For example, the Indian government announced a plan to use cutting-edge technology to track production and monitor critical agricultural data points during the lockdown. Similarly, the US government announced an additional USD 14 billion in aid to agricultural producers.

US Agricultural Micronutrients Market is poised to grow at a sustainable CAGR for the next forecast year.