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Global Agricultural Micronutrients Market to Grow at a CAGR of 8.2% During the Period 2022-2027, Driven by Increasing Growers’ Awareness of Plant Nutrition

Agricultural Micronutrients Market

Global Agricultural Micronutrients Market Size, Forecast: By Type: Zinc, Boron, Iron, Molybdenum, Copper, Manganese, Others; By Crop Type: Cereals and Grains, Fruits and Vegetables, Oilseeds and Pulses, Others; By Form; By Mode of Application; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032

Global Agricultural Micronutrients Market Outlook

The global agricultural micronutrients market is expected to grow at a CAGR of 8.2% during the period 2024-2032.

 

Global Agricultural Micronutrients Market

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The Global Agricultural Micronutrients Market Likely to be Driven by Need to Maintain Soil Micronutrient Efficiency and Increase Crop Yield

The global market for agricultural micronutrients is expected to be driven by growers’ efforts towards overcoming micronutrient deficiency in the soil and increasing crop produce. North America, Europe and Asia are likely to be key markets.

Agricultural micronutrients comprise a combination of mineral elements such as Zinc (Zn), Copper (Cu), Manganese (Mn), Iron (Fe), Boron (B), Molybdenum (Mo). These elements foster horticultural crops as well as cereals, pulses, oilseeds, spices, and plantation. Micronutrients are essential for plant growth and help balance crop nutrition. Zinc is essential to plant hormone balance and auxin activity, growth, cell division, and production of grain husk. Iron is important to biological processes and plant cell growth; it is a constituent of enzymes necessary for chlorophyll synthesis and photosynthesis. Boron enhances flowering and ripening, and is essential to sugar transport, cell division, and amino acid production. Manganese plays a significant role in photosynthesis, chloroplast production, acts as a cofactor in several plant reactions, and triggers enzymes. Copper triggers enzymes needed for photosynthesis. Molybdenum is essential to leaf growth, disease prevention and nitrogen metabolism (important in nitrogen fixation by legumes).

Micronutrients come in the form of EDTA chelates and amino acid chelates. Chelation refers to a kind of boding in which ions and molecules bond to metal ions. Chelates are complex compounds and comprise a central metal atom bound to a large molecule (ligand in a cyclic or ring structure). Ethylene Diamine Tetra-Acetic Acid (EDTA) is a chelating agent; its molecular structure permits its bond with heavy metals. Amino acid chelates are natural, bio-organic chelating agents that act as effective nutrient delivery systems.

Agricultural micronutrients are most commonly administered through soil applications. Granular and fluid NPK fertilizers are generally employed as micronutrient carriers. Combining micronutrients with mixed fertilizers is a widely accepted application method and enables uniform distribution with conventional equipment. Micronutrients may be combined, bulk blended or coated onto granular fertilizers, or mixed with fluid fertilizers for administration. Foliar sprays are also a common method of micronutrient application, particularly iron and manganese.

 

Increasing Awareness of Plant Nutrition among Growers and Advancements in Equipment Expected to Boost Market Growth

In recent years, there has been an increase in growers’ awareness of plant nutrition, and acceptance of the need for micronutrients. Proven technologies such as zinc on corn have experienced wide acceptance. Developments in technologies related to precision agricultural equipment that enable efficient administration of micronutrients are also expected to help market growth. The micronutrient segment is likely to grow further as growers learn more about the ways in which different micronutrients foster crop growth.

 

Regulatory Environment may Hinder Market Growth

Control by regulatory bodies on nutrient management might impede market growth. Micronutrients are more controlled in Europe as compared to other parts of the world. However, the ban of certain pesticides in the EU offers opportunities for micronutrient and biological technologies.

 

Global Agricultural Micronutrients Market Segmentation

 

Global Agricultural Micronutrients Market by Segment

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By type, the market is segmented into:

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

By crop type, the market is classified into:

  • Cereals and Grains (further divided by type as given below)
    • Corn
    • Wheat 
    • Rice 
    • Others 
  • Fruits and Vegetables
  • Oilseeds and Pulses (further divided by type as given below) 
    • Soybean
    • Canola
    • Others
  • Others

By form, the market is classified into:

  • Chelated Micronutrients (further divided by type as given below)
    • Ethylene diamine-tetra-acetic acid (EDTA)
    • Ethlyenediamine Di-2-Hydroxyphenyl Acetate (EDDHA)
    • Diethylene-triamine penta-acetic acid (DTPA)
    • Iminodisuccinic Acid (IDHA)
    • Others
  • Non-Chelated Micronutrients

By mode of application, the market is divided into:

  • Soil
  • Foliar
  • Fertigation
  • Others

By region, the market is segmented into:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

 

Global Agricultural Micronutrients Market by Region

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Key Industry Players in the Global Agricultural Micronutrients Market

The report presents a detailed analysis of the following key players in the market, looking into their capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • BASF SE
  • Yara International ASA
  • Helena Agri-Enterprises, LLC
  • Haifa Negev technologies LTD
  • VALAGRO S.P.A
  • Zuari Agro Chemicals LTD
  • Baicor, LLC
  • Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

 

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and
Forecast Market Analysis by Segment- Type, Crop Type, Form, Mode of Application, Region
Breakup by Type Zinc, Boron, Iron, Molybdenum, Copper, Manganese, Others
Breakup by Crop Type Cereals and Grains, Fruits and Vegetables, Oilseeds and Pulses, Others
Breakup by Form Chelated Micronutrients, Non-Chelated Micronutrients
Breakup by Mode of Application Soil, Foliar, Fertigation, Others
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Trade Data Analysis Major Importing Countries by Value and Volume, Major Exporting Countries by Value and Volume
Price Analysis Historical and Forecast Price Trends- Regional
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered BASF SE, Yara International ASA, Helena Agri-Enterprises, LLC, Haifa
Negev technologies LTD, VALAGRO S.P.A, Zuari Agro Chemicals LTD, Baicor, LLC, Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary
    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Agricultural Micronutrients Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Agricultural Micronutrients Historical Market (2018-2023) 
    8.3    Global Agricultural Micronutrients Market Forecast (2024-2032)
    8.4    Global Agricultural Micronutrients Market by Type
        8.4.1    Zinc
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2023)
            8.4.1.3    Forecast Trend (2024-2032)
        8.4.2    Boron
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2023)
            8.4.2.3    Forecast Trend (2024-2032)
        8.4.3    Iron
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2018-2023)
            8.4.3.3    Forecast Trend (2024-2032)
        8.4.4    Molybdenum
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2018-2023)
            8.4.4.3    Forecast Trend (2024-2032)
        8.4.5    Copper
            8.4.5.1    Market Share
            8.4.5.2    Historical Trend (2018-2023)
            8.4.5.3    Forecast Trend (2024-2032)
        8.4.6    Manganese
            8.4.6.1    Market Share
            8.4.6.2    Historical Trend (2018-2023)
            8.4.6.3    Forecast Trend (2024-2032)
        8.4.7    Others
    8.5    Global Agricultural Micronutrients Market by Crop Type
        8.5.1    Cereals and Grains
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2023)
            8.5.1.3    Forecast Trend (2024-2032)
            8.5.1.4    Breakup by Type
                8.5.1.4.1    Corn
                8.5.1.4.2    Wheat
                8.5.1.4.3    Rice
                8.5.1.4.4    Others
        8.5.2    Fruits and Vegetables
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2023)
            8.5.2.3    Forecast Trend (2024-2032)
        8.5.3    Oilseeds and Pulses
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2018-2023)
            8.5.3.3    Forecast Trend (2024-2032)
            8.5.3.4    Breakup by Type
                8.5.3.4.1    Soybean
                8.5.3.4.2    Canola
                8.5.3.4.3    Others
        8.5.4    Others
    8.6    Global Agricultural Micronutrients Market by Form
        8.6.1    Chelated Micronutrients
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2023)
            8.6.1.3    Forecast Trend (2024-2032)
            8.6.1.4    Breakup by Type
                8.6.1.4.1    Ethylene diamine-tetra-acetic acid (EDTA)
                8.6.1.4.2    Ethlyenediamine Di-2-Hydroxyphenyl Acetate (EDDHA)
                8.6.1.4.3    Diethylene-triamine penta-acetic acid (DTPA)
                8.6.1.4.4    Iminodisuccinic Acid (IDHA)
                8.6.1.4.5    Others
        8.6.2    Non-Chelated Micronutrients
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2023)
            8.6.2.3    Forecast Trend (2024-2032)
    8.7    Global Agricultural Micronutrients Market by Mode of Application
        8.7.1    Soil
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2023)
            8.7.1.3    Forecast Trend (2024-2032)
        8.7.2    Foliar
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2023)
            8.7.2.3    Forecast Trend (2024-2032)
        8.7.3    Fertigation
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2018-2023)
            8.7.3.3    Forecast Trend (2024-2032)
        8.7.4    Others
    8.8    Global Agricultural Micronutrients Market by Region
        8.8.1    Market Share
            8.8.1.1    North America
            8.8.1.2    Europe
            8.8.1.3    Asia Pacific
            8.8.1.4    Latin America
            8.8.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2018-2023)
        9.1.2    Forecast Trend (2024-2032)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2018-2023)
        9.2.2    Forecast Trend (2024-2032)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2018-2023)
        9.3.2    Forecast Trend (2024-2032)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2018-2023)
        9.4.2    Forecast Trend (2024-2032)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2018-2023)
        9.5.2    Forecast Trend (2024-2032)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Trade Data Analysis (HS Code-283326)
    11.1    Major Exporting Countries
        11.1.1    By Value
        11.1.2    By Volume
    11.2    Major Importing Countries
        11.2.1    By Value
        11.2.2    By Volume
12    Price Analysis
13    Competitive Landscape
    13.1    Market Structure
    13.2    Company Profiles
        13.2.1    BASF SE
            13.2.1.1    Company Overview
            13.2.1.2    Product Portfolio
            13.2.1.3    Demographic Reach and Achievements
            13.2.1.4    Certifications
        13.2.2    Yara International ASA
            13.2.2.1    Company Overview
            13.2.2.2    Product Portfolio
            13.2.2.3    Demographic Reach and Achievements
            13.2.2.4    Certifications
        13.2.3    Helena Agri-Enterprises, LLC
            13.2.3.1    Company Overview
            13.2.3.2    Product Portfolio
            13.2.3.3    Demographic Reach and Achievements
            13.2.3.4    Certifications
        13.2.4    Haifa Negev technologies LTD
            13.2.4.1    Company Overview
            13.2.4.2    Product Portfolio
            13.2.4.3    Demographic Reach and Achievements
            13.2.4.4    Certifications
        13.2.5    VALAGRO S.P.A
            13.2.5.1    Company Overview
            13.2.5.2    Product Portfolio
            13.2.5.3    Demographic Reach and Achievements
            13.2.5.4    Certifications
        13.2.6    Zuari Agro Chemicals LTD
            13.2.6.1    Company Overview
            13.2.6.2    Product Portfolio
            13.2.6.3    Demographic Reach and Achievements
            13.2.6.4    Certifications
        13.2.7    Baicor, LLC
            13.2.7.1    Company Overview
            13.2.7.2    Product Portfolio
            13.2.7.3    Demographic Reach and Achievements
            13.2.7.4    Certifications
        13.2.8    Others
14    Industry Events and Developments

 

List of Key Figures and Tables

1.    Global Agricultural Micronutrients Market: Key Industry Highlights, 2018 and 2032
2.    Global Agricultural Micronutrients Historical Market: Breakup by Type (USD Million), 2018-2023
3.    Global Agricultural Micronutrients Market Forecast: Breakup by Type (USD Million), 2024-2032
4.    Global Agricultural Micronutrients Historical Market: Breakup by Crop Type (USD Million), 2018-2023
5.    Global Agricultural Micronutrients Market Forecast: Breakup by Crop Type (USD Million), 2024-2032
6.    Global Agricultural Micronutrients Historical Market: Breakup by Form (USD Million), 2018-2023
7.    Global Agricultural Micronutrients Market Forecast: Breakup by Form (USD Million), 2024-2032
8.    Global Agricultural Micronutrients Historical Market: Breakup by Mode of Application (USD Million), 2018-2023
9.    Global Agricultural Micronutrients Market Forecast: Breakup by Mode of Application (USD Million), 2024-2032
10.    Global Agricultural Micronutrients Historical Market: Breakup by Region (USD Million), 2018-2023
11.    Global Agricultural Micronutrients Market Forecast: Breakup by Region (USD Million), 2024-2032
12.    North America Agricultural Micronutrients Historical Market: Breakup by Country (USD Million), 2018-2023
13.    North America Agricultural Micronutrients Market Forecast: Breakup by Country (USD Million), 2024-2032
14.    Europe Agricultural Micronutrients Historical Market: Breakup by Country (USD Million), 2018-2023
15.    Europe Agricultural Micronutrients Market Forecast: Breakup by Country (USD Million), 2024-2032
16.    Asia Pacific Agricultural Micronutrients Historical Market: Breakup by Country (USD Million), 2018-2023
17.    Asia Pacific Agricultural Micronutrients Market Forecast: Breakup by Country (USD Million), 2024-2032
18.    Latin America Agricultural Micronutrients Historical Market: Breakup by Country (USD Million), 2018-2023
19.    Latin America Agricultural Micronutrients Market Forecast: Breakup by Country (USD Million), 2024-2032
20.    Middle East and Africa Agricultural Micronutrients Historical Market: Breakup by Country (USD Million), 2018-2023
21.    Middle East and Africa Agricultural Micronutrients Market Forecast: Breakup by Country (USD Million), 2024-2032
22.    Major Exporting Countries by Value
23.    Major Exporting Countries by Value
24.    Major Importing Countries by Value
25.    Major Exporting Countries by Volume
26.    Major Importing Countries by Volume
27.    North America Historical Price Trends and Forecast 2018-2028
28.    Europe Historical Price Trends and Forecast 2018-2028
29.    Asia Pacific Historical Price Trends and Forecast 2018-2028
30.    Latin America Historical Price Trends and Forecast 2018-2028
31.    Middle East and Africa Historical Price Trends and Forecast 2018-2028
32.    Global Agricultural Micronutrients Market Structure

Key Questions Answered in the Report

What is the growth rate of the global agricultural micronutrients market?

The global agricultural micronutrients market is projected to grow at a CAGR of 8.2% between 2024 and 2032.

What are the major industry drivers?

The major drivers of the market include the growers’ efforts towards overcoming micronutrient deficiency in the soil, rising focus on plant nutrients for successful growth and optimum yields, need to achieve proper balanced nutrition in crops of cereals, pulses, oilseeds, and rise in demand for higher crop yields.

What are the key industry trends of the global agricultural micronutrients market?

The increase in growers’ awareness of plant nutrition and developments in technologies related to precision agricultural equipment are the key industry trends propelling the market's growth.

What are the major regional markets of agricultural micronutrients, according to the EMR report?

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What are the different types of agricultural micronutrients in the market?

By type, the market is segmented into zinc, boron, iron, molybdenum, copper, and manganese, among others.

What are the various types of crops in the market?

Based on crop types, the market is divided into cereals and grains, fruits and vegetables, oilseeds and pulses, among others. Cereals and grains are further divided into corn, wheat, and rice, among others while oilseeds and pulses are sub-divided into soybean and canola, among others.

What are the forms of agricultural micronutrients in the market?

The forms include chelated micronutrients and non-chelated micronutrients. Chelated micronutrients are sub-divided into ethylene diamine-tetra-acetic acid (EDTA), ethlyenediamine Di-2-hydroxyphenyl acetate (EDDHA), diethylene-triamine penta-acetic acid (DTPA), and iminodisuccinic acid (IDHA), among others.

What are the various modes of application in the market?

By mode of application, the market is divided into soil, foliar, and fertigation, among others.

Who are the key industry players, according to the report?

The major players in the industry are BASF SE, Yara International ASA, Helena Agri-Enterprises, LLC, Haifa Negev technologies LTD, VALAGRO S.P.A, Zuari Agro Chemicals LTD, and Baicor, LLC, among others.

Analyst Review

The global agricultural micronutrients market was driven by the increase in growers’ awareness of plant nutrition in the historical period. Aided by the rise in demand for higher crop yields and developments in technologies related to precision agricultural equipment, the market is expected to witness further growth in the forecast period of 2024-2032, growing at a CAGR of 8.2%.

EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By type, the market is segmented into zinc, boron, iron, molybdenum, copper, and manganese, among others. Based on crop types, the market is divided into cereals and grains, fruits and vegetables, oilseeds and pulses, among others. Cereals and grains are further divided into corn, wheat, and rice, among others while oilseeds and pulses are sub-divided into soybean and canola, among others. The forms include chelated micronutrients and non-chelated micronutrients. Chelated micronutrients are sub-divided into ethylene diamine-tetra-acetic acid (EDTA), ethlyenediamine Di-2-hydroxyphenyl acetate (EDDHA), diethylene-triamine penta-acetic acid (DTPA), and iminodisuccinic acid (IDHA), among others. By mode of application, the market is divided into soil, foliar, and fertigation, among others. The major regional markets for agricultural micronutrients market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The major players in the industry are BASF SE, Yara International ASA, Helena Agri-Enterprises, LLC, Haifa Negev technologies LTD, VALAGRO S.P.A, Zuari Agro Chemicals LTD, and Baicor, LLC, among others.

EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.

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