Crop Micronutrients Market – By Product Type , By Form , By Crop Type , By Application , By Geography - Opportunity Analysis & Industry Forecast, 2024-2030

Report Code: FBR 79798 Report Format: PDF + Excel

Crop Micronutrients Market Overview

Crop Micronutrients Market size is forecast to reach US $8.5 billion by 2030, after growing at a CAGR of 8.1% during 2024-2030. Micronutrients play a significant role in plant growth in fertilization, flower initiations disease resistance and fruit set. Zinc, iron, manganese and chlorine are a few of the vital micronutrients for the optimum productivity of plants and development. The deficit in such micronutrients results in reduced productivity and defects in plants. The growth of agricultural production boosts the demand for micronutrients.A notable trend in the Crop Micronutrients market is micronutrient enriched fertilizers. Developing innovative fertilizers that combine essential micronutrients with macronutrients can help address deficiencies. These products can improve soil health and plant nutrition leading to higher yields and better quality crops. In August 2024, CHS Inc. introduced the New Trivar EZ, an enhanced granular micronutrient fertilizer blend that features the Levesol chelating agent, patented by CHS, that helps improve the availability of micronutrients to crops. Another trend is the use of nanotechnology. Using nanotechnology to deliver micronutrients directly to plant roots can improve nutrient uptake efficiency and reduce environmental impact.

Crop Micronutrients Market - Report Coverage:

The “Crop Micronutrients Market Report - Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Crop Micronutrients Market.

Attribute Segment

By Product Type
  • Boron
  • Copper
  • Iron
  • Manganese
  • Molybdenum
  • Zinc

By Form
  • Chelated Micronutrient
  • Non-Chelated Micronutrient

By Crop Type
  • Cereal Grain
  • Fruit Vegetable
  • Pulses and Oilseed
  • Others

By Application
  • Fertigation
  • Soil
  • Foliar
  • Seed Treatment

By Geography
  • North America (U.S, Canada and Mexico)
  • Europe (Germany, France, UK, Italy, Spain, Netherlands, Belgium, Denmark and Rest of Europe)
  • Asia-Pacific (China, Japan, South Korea, India, Australia, New Zealand, Indonesia, Thailand, Malaysia and Rest of Asia-Pacific)
  • South America (Brazil, Argentina, Chile, Colombia and Rest of South America)
  • Rest of the World (Middle East and Africa).

COVID-19 / Ukraine Crisis - Impact Analysis:  

  • The agriculture sector felt the heat due to supply chain issues, pricing issues and market disruptions. Lockdowns impacted the restaurant, hospitality, and transportation sectors, causing the demand for fresh produce, sugar, and other raw and manufactured agricultural products to shrink as a result the demand for crop micronutrients also reduced during the pandemic. 
  • The market for crop micronutrients is significantly impacted by the conflict between Russia and Ukraine. Russia and Ukraine are both major exporters of agricultural products and raw materials. Due to supply chain disruptions caused by the conflict, the prices of agricultural inputs rose.

Key Takeaways

Zinc is the largest segment

Zinc holds a significant position in the crop micronutrients market due to several factors like, Zinc deficiency is a prevalent issue in many agricultural soils worldwide.  It affects a wide range of crops, including cereals, oilseeds, and fruits. This deficiency can lead to reduced crop yields, poor quality, and increased susceptibility to diseases. Moreover, as the global population grows, there is a rising demand for increased food production.  Zinc supplementation can help farmers achieve higher yields and better-quality crops, addressing this growing need. In May 2024, Indian Farmers Fertilizer Cooperative Limited (IFFCO) received approval of zinc liquid and nano copper liquid by the Fertilizer Control Order (FCO). According to the IFFCO press release, these nanoformulations would help to address effectively the zinc and copper deficiencies in agriculture, enhancing crop production and crop quality and ultimately reducing micronutrient malnutrition.

Cereals and Grains are the Largest Segment

The largest application of crop micronutrients is in cereals and grains. This includes crops like wheat, rice, corn, and barley. According to United Nation, the world population is projected to reach 9.7 billion in 2050. Cereals and grains remain a cornerstone of the global food supply because these crops make up a substantial portion of daily caloric intake worldwide. Micronutrients play a significant role in improving the quality and quantity of these crops. According to the Food and Agriculture Organization of the United Nations (FAO), rice, wheat and corn together account for over 90% of the world’s cereal production.. Zn deficiency is the most widespread micronutrient disorder in lowland rice and high-pH soils frequently require the addition of zinc for rice production.

APAC Dominates the market

APAC held the largest share of around 42% in the Crop Micronutrients Market in the year 2023. APAC is home to some of the world’s largest agricultural economies, such as India, China, Indonesia, and Japan. These countries have vast areas of arable land where crops are grown on a large scale. The region produces a wide variety of crops, including rice, wheat, corn, vegetables, fruits, and cash crops like tea, coffee, and cotton. As per the OECD-FAO Agricultural Outlook, the Asia Pacific region is largest producer of agricultural commodities and is anticipated to account for 53% of global agriculture output by 2030. Crop production, which represents roughly 60% of total agricultural production value, is projected to grow by 22% by 2030. Micronutrients are essential for improving crop yield and quality across this diverse range of crops. Micronutrients such as zinc, boron, copper, and iron are crucial for the nutritional quality of crops, addressing both crop yield and human nutrition. 

Need for Food Security to Drive the Market

The United Nations estimates that the world population will reach 8.5 billion by 2030, and by 2050 the population will be 9.7 billion. To cultivate crops on such a large scale, micronutrients are crucial. Agricultural practices are developing across the globe in order to meet the fast-increasing food demand and provide nutritious food. The United Nations Sustainable Development Goals (SDGs) are a collection of 17 interlinked global goals designed to be a blueprint to achieve a better and more sustainable future for all. SDG2 of the UN aims for zero hunger. One of the key targets of this goal is to achieve food security through sustainability in agriculture. According to this, by 2030 the UN aims to ensure sustainable food production systems and implement resilient agricultural practices that increase productivity and production, to help maintain ecosystems and thereby improve land and soil quality. Micronutrients are used for the synthesis of vitamins and provide the required minerals. However, changing climatic conditions, the spread of crop diseases and new plant-breeding techniques require effective nutrients, and this, in turn, increases micronutrients market size. 

High Cost of Micronutrient Fertilizers to hamper the Market

Micronutrient fertilizers can be costly compared to traditional fertilizers. For small-scale and resource-poor farmers, the high price of these fertilizers can be a significant barrier to adoption. In developing regions, particularly in countries with lower agricultural incomes, farmers may not be able to afford specialized micronutrient fertilizers, even though they are crucial for improving crop yields and soil health. 

Crop Micronutrients Market              

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Key Market Players

Global Crop Micronutrient top 10 companies include:

  1. BASF SE 
  2. Yara International ASA
  3. Nutrien 
  4. Bayer CropScience
  5. Nufarm 
  6. K+S AG
  7. The Mosaic Company 
  8. Syngenta 
  9. Vrdesian
  10. Koch Agronomic Services

Scope of the Report:

Report Metric Details

Base Year Considered

2023

Forecast Period

2024–2030

CAGR

8.1%

Market Size in 2030

$8.5 Billion

Segments Covered

By ProductType, By Form, By Crop Type, By Application and By Geography.

 

Geographies Covered

North America (U.S.,Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Netherlands, Belgium and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, Indonesia, Malaysia, Thailand and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa)

Key Market Players

1 BASF SE

2 Yara International ASA

3 Nutrien

4 Bayer CropScience

5 Nufarm

6 K+S AG

7 The Mosaic Company

8 Syngenta

9 Vrdesian

           10 Koch Agronomic Services

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  1. Crop Micronutrients Market- Market Overview
          1.1 Definitions and Scope
  2. Crop Micronutrients Market - Executive Summary
          2.1 Key Trends by Type,
          2.2 Key Trends by Form
         2.3 Key Trends By Crop Type
          2.4 Key Trends by Application
          2.5 Key Trends by Geography
  3. Crop Micronutrients Market – Comparative analysis
          3.1 Market Share Analysis- Major Companies
          3.2 Product Benchmarking- Major Companies
          3.3 Top 5 Financials Analysis
          3.4 Patent Analysis- Major Companies
          3.5 Pricing Analysis (ASPs will be provided)
  4. Crop Micronutrients Market - Startup Companies Scenario 
          4.1 Major startup company analysis:
                    4.1.1 Investment
                    4.1.2 Revenue
                    4.1.3 Product portfolio
                    4.1.4 Venture Capital and Funding Scenario
  5. Crop Micronutrients Market – Industry Market Entry Scenario Premium 
          5.1 Regulatory Framework Overview
          5.2 New Business and Ease of Doing Business Index
          5.3 Successful Venture Profiles
          5.4 Customer Analysis – Major companies
  6. Crop Micronutrients Market - Market Forces
          6.1 Market Drivers
          6.2 Market Constraints
          6.3 Porters Five Force Model
                    6.3.1 Bargaining Power of Suppliers
                    6.3.2 Bargaining Powers of Buyers
                    6.3.3 Threat of New Entrants
                    6.3.4 Competitive Rivalry
                    6.3.5 Threat of Substitutes
  7. Crop Micronutrients Market – Strategic Analysis
          7.1 Value/Supply Chain Analysis
          7.2 Opportunity Analysis
          7.3 Product/Market Life Cycle
          7.4 Distributor Analysis – Major Companies
  8. Crop Micronutrients Market – By Type (Market Size -$Million/Billion)
      8.1    Boron
      8.2    Copper
      8.3    Iron
      8.4    Manganese
                  8.5 Molybdenum
                  8.6 Zinc
  9.  Crop Micronutrients Market – By Form (Market Size -$Million/Billion)
                  9.1 Chelated Micronutrient
          9.2 Non-Chelated Micronutrient
  10.  Crop Micronutrients Market – By Crop Type (Market Size -$Million/Billion)
                  10.1 Cereal Grain
          10.2 Fruit &Vegetable
          10.3 Pulses & Oilseed
                  10.4 Others
  11. Crop Micronutrients Market – By Application (Market Size -$Million/Billion)
                  11.1 Fertigation
                  11.2 Soil
                  11.3 Foliar
                  11.4 Seed Treatment
  12. Crop Micronutrients Market - By Geography (Market Size -US$ Million/Billion)
          12.1 North America
                    12.1.1 USA
                    12.1.2 Canada
                    12.1.3 Mexico
          12.2 Europe
                    12.2.1 UK
                    12.2.2 Germany
                    12.2.3 France
                    12.2.4 Italy
                    12.2.5 Netherlands
                    11.2.6 Spain
                    11.2.7 Denmark
                    11.2.8 Belgium
            11.2.9    Rest of Europe
      11.3 Asia-Pacific
                    11.3.1 China
                    11.3.2 Japan
                    11.3.3 India
                    11.3.4 South Korea
                    11.3.5 Australia and New Zealand
                    11.3.6 Indonesia
                    11.3.7 Thailand
                    11.3.8 Malaysia
            11.3.9    Rest of APAC
      11.4. South America
                    11.4.1 Brazil
                    11.4.2 Argentina
                    11.4.3 Colombia
                    11.4.4 Chile
                    11.4.5 Rest of South America
          11.5 Rest of the World
                    11.5.1 Middle East
                    11.5.2 Africa
  12. Crop Micronutrients Market – Entropy
          12.1 New Product Launches
          12.2 M&As, Collaborations, JVs and Partnerships
  13. Crop Micronutrients Market – Industry/Segment Competition Landscape 
          13.1 Company Benchmarking Matrix – Major Companies
          13.2 Market Share at Global Level – Major companies
          13.3 Market Share by Key Region – Major companies
          13.4 Market Share by Key Country – Major companies
          13.5 Market Share by Key Application – Major companies
  14. Crop Micronutrients Market – Key Company List by Country Premium 
  15. Crop Micronutrients Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
      15.1. BASF SE
      15.2 Yara International ASA
      15.3 Nutrien
      15.4 Bayer CropScience
      15.5 Nufarm
      15.6 K+S AG
      15.7 The Mosaic Company
      15.8 Syngenta
      15.9 Vrdesian
      15.10 Koch Agronomic Services
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LIST OF TABLES

1.Global Crop Micronutrient Market, By Form Market 2023-2030 ($M)
1.1 Chelated Micronutrient Market 2023-2030 ($M) - Global Industry Research
1.2 Non-Chelated Micronutrient Market 2023-2030 ($M) - Global Industry Research
2.Global Crop Micronutrient Market, By Product Type Market 2023-2030 ($M)
2.1 Boron Market 2023-2030 ($M) - Global Industry Research
2.2 Copper Market 2023-2030 ($M) - Global Industry Research
2.3 Iron Market 2023-2030 ($M) - Global Industry Research
2.4 Manganese Market 2023-2030 ($M) - Global Industry Research
2.5 Molybdenum Market 2023-2030 ($M) - Global Industry Research
2.6 Zinc Market 2023-2030 ($M) - Global Industry Research
3.Global Crop Micronutrient Market, By Crop Type Market 2023-2030 ($M)
3.1 Cereal Grain Market 2023-2030 ($M) - Global Industry Research
3.2 Fruit Vegetable Market 2023-2030 ($M) - Global Industry Research
3.3 Pulse And Oilseed Market 2023-2030 ($M) - Global Industry Research
4.Global Crop Micronutrient Market, By Form Market 2023-2030 (Volume/Units)
4.1 Chelated Micronutrient Market 2023-2030 (Volume/Units) - Global Industry Research
4.2 Non-Chelated Micronutrient Market 2023-2030 (Volume/Units) - Global Industry Research
5.Global Crop Micronutrient Market, By Product Type Market 2023-2030 (Volume/Units)
5.1 Boron Market 2023-2030 (Volume/Units) - Global Industry Research
5.2 Copper Market 2023-2030 (Volume/Units) - Global Industry Research
5.3 Iron Market 2023-2030 (Volume/Units) - Global Industry Research
5.4 Manganese Market 2023-2030 (Volume/Units) - Global Industry Research
5.5 Molybdenum Market 2023-2030 (Volume/Units) - Global Industry Research
5.6 Zinc Market 2023-2030 (Volume/Units) - Global Industry Research
6.Global Crop Micronutrient Market, By Crop Type Market 2023-2030 (Volume/Units)
6.1 Cereal Grain Market 2023-2030 (Volume/Units) - Global Industry Research
6.2 Fruit Vegetable Market 2023-2030 (Volume/Units) - Global Industry Research
6.3 Pulse And Oilseed Market 2023-2030 (Volume/Units) - Global Industry Research
7.North America Crop Micronutrient Market, By Form Market 2023-2030 ($M)
7.1 Chelated Micronutrient Market 2023-2030 ($M) - Regional Industry Research
7.2 Non-Chelated Micronutrient Market 2023-2030 ($M) - Regional Industry Research
8.North America Crop Micronutrient Market, By Product Type Market 2023-2030 ($M)
8.1 Boron Market 2023-2030 ($M) - Regional Industry Research
8.2 Copper Market 2023-2030 ($M) - Regional Industry Research
8.3 Iron Market 2023-2030 ($M) - Regional Industry Research
8.4 Manganese Market 2023-2030 ($M) - Regional Industry Research
8.5 Molybdenum Market 2023-2030 ($M) - Regional Industry Research
8.6 Zinc Market 2023-2030 ($M) - Regional Industry Research
9.North America Crop Micronutrient Market, By Crop Type Market 2023-2030 ($M)
9.1 Cereal Grain Market 2023-2030 ($M) - Regional Industry Research
9.2 Fruit Vegetable Market 2023-2030 ($M) - Regional Industry Research
9.3 Pulse And Oilseed Market 2023-2030 ($M) - Regional Industry Research
10.South America Crop Micronutrient Market, By Form Market 2023-2030 ($M)
10.1 Chelated Micronutrient Market 2023-2030 ($M) - Regional Industry Research
10.2 Non-Chelated Micronutrient Market 2023-2030 ($M) - Regional Industry Research
11.South America Crop Micronutrient Market, By Product Type Market 2023-2030 ($M)
11.1 Boron Market 2023-2030 ($M) - Regional Industry Research
11.2 Copper Market 2023-2030 ($M) - Regional Industry Research
11.3 Iron Market 2023-2030 ($M) - Regional Industry Research
11.4 Manganese Market 2023-2030 ($M) - Regional Industry Research
11.5 Molybdenum Market 2023-2030 ($M) - Regional Industry Research
11.6 Zinc Market 2023-2030 ($M) - Regional Industry Research
12.South America Crop Micronutrient Market, By Crop Type Market 2023-2030 ($M)
12.1 Cereal Grain Market 2023-2030 ($M) - Regional Industry Research
12.2 Fruit Vegetable Market 2023-2030 ($M) - Regional Industry Research
12.3 Pulse And Oilseed Market 2023-2030 ($M) - Regional Industry Research
13.Europe Crop Micronutrient Market, By Form Market 2023-2030 ($M)
13.1 Chelated Micronutrient Market 2023-2030 ($M) - Regional Industry Research
13.2 Non-Chelated Micronutrient Market 2023-2030 ($M) - Regional Industry Research
14.Europe Crop Micronutrient Market, By Product Type Market 2023-2030 ($M)
14.1 Boron Market 2023-2030 ($M) - Regional Industry Research
14.2 Copper Market 2023-2030 ($M) - Regional Industry Research
14.3 Iron Market 2023-2030 ($M) - Regional Industry Research
14.4 Manganese Market 2023-2030 ($M) - Regional Industry Research
14.5 Molybdenum Market 2023-2030 ($M) - Regional Industry Research
14.6 Zinc Market 2023-2030 ($M) - Regional Industry Research
15.Europe Crop Micronutrient Market, By Crop Type Market 2023-2030 ($M)
15.1 Cereal Grain Market 2023-2030 ($M) - Regional Industry Research
15.2 Fruit Vegetable Market 2023-2030 ($M) - Regional Industry Research
15.3 Pulse And Oilseed Market 2023-2030 ($M) - Regional Industry Research
16.APAC Crop Micronutrient Market, By Form Market 2023-2030 ($M)
16.1 Chelated Micronutrient Market 2023-2030 ($M) - Regional Industry Research
16.2 Non-Chelated Micronutrient Market 2023-2030 ($M) - Regional Industry Research
17.APAC Crop Micronutrient Market, By Product Type Market 2023-2030 ($M)
17.1 Boron Market 2023-2030 ($M) - Regional Industry Research
17.2 Copper Market 2023-2030 ($M) - Regional Industry Research
17.3 Iron Market 2023-2030 ($M) - Regional Industry Research
17.4 Manganese Market 2023-2030 ($M) - Regional Industry Research
17.5 Molybdenum Market 2023-2030 ($M) - Regional Industry Research
17.6 Zinc Market 2023-2030 ($M) - Regional Industry Research
18.APAC Crop Micronutrient Market, By Crop Type Market 2023-2030 ($M)
18.1 Cereal Grain Market 2023-2030 ($M) - Regional Industry Research
18.2 Fruit Vegetable Market 2023-2030 ($M) - Regional Industry Research
18.3 Pulse And Oilseed Market 2023-2030 ($M) - Regional Industry Research
19.MENA Crop Micronutrient Market, By Form Market 2023-2030 ($M)
19.1 Chelated Micronutrient Market 2023-2030 ($M) - Regional Industry Research
19.2 Non-Chelated Micronutrient Market 2023-2030 ($M) - Regional Industry Research
20.MENA Crop Micronutrient Market, By Product Type Market 2023-2030 ($M)
20.1 Boron Market 2023-2030 ($M) - Regional Industry Research
20.2 Copper Market 2023-2030 ($M) - Regional Industry Research
20.3 Iron Market 2023-2030 ($M) - Regional Industry Research
20.4 Manganese Market 2023-2030 ($M) - Regional Industry Research
20.5 Molybdenum Market 2023-2030 ($M) - Regional Industry Research
20.6 Zinc Market 2023-2030 ($M) - Regional Industry Research
21.MENA Crop Micronutrient Market, By Crop Type Market 2023-2030 ($M)
21.1 Cereal Grain Market 2023-2030 ($M) - Regional Industry Research
21.2 Fruit Vegetable Market 2023-2030 ($M) - Regional Industry Research
21.3 Pulse And Oilseed Market 2023-2030 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Crop Micronutrients Market Revenue, 2023-2030 ($M)
2.Canada Crop Micronutrients Market Revenue, 2023-2030 ($M)
3.Mexico Crop Micronutrients Market Revenue, 2023-2030 ($M)
4.Brazil Crop Micronutrients Market Revenue, 2023-2030 ($M)
5.Argentina Crop Micronutrients Market Revenue, 2023-2030 ($M)
6.Peru Crop Micronutrients Market Revenue, 2023-2030 ($M)
7.Colombia Crop Micronutrients Market Revenue, 2023-2030 ($M)
8.Chile Crop Micronutrients Market Revenue, 2023-2030 ($M)
9.Rest of South America Crop Micronutrients Market Revenue, 2023-2030 ($M)
10.UK Crop Micronutrients Market Revenue, 2023-2030 ($M)
11.Germany Crop Micronutrients Market Revenue, 2023-2030 ($M)
12.France Crop Micronutrients Market Revenue, 2023-2030 ($M)
13.Italy Crop Micronutrients Market Revenue, 2023-2030 ($M)
14.Spain Crop Micronutrients Market Revenue, 2023-2030 ($M)
15.Rest of Europe Crop Micronutrients Market Revenue, 2023-2030 ($M)
16.China Crop Micronutrients Market Revenue, 2023-2030 ($M)
17.India Crop Micronutrients Market Revenue, 2023-2030 ($M)
18.Japan Crop Micronutrients Market Revenue, 2023-2030 ($M)
19.South Korea Crop Micronutrients Market Revenue, 2023-2030 ($M)
20.South Africa Crop Micronutrients Market Revenue, 2023-2030 ($M)
21.North America Crop Micronutrients By Application
22.South America Crop Micronutrients By Application
23.Europe Crop Micronutrients By Application
24.APAC Crop Micronutrients By Application
25.MENA Crop Micronutrients By Application
26.Akzo Nobel N.V, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Aries Agro Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Baicor, L C, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Basf Se, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Compass Mineral International, Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Dowdupont Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.The Mosaic Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Nutrien Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Western Nutrient Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Yara International Asa, Sales /Revenue, 2015-2018 ($Mn/$Bn)

The Crop Micronutrients Market is projected to grow at 8.1% CAGR during the forecast period 2024-2030.

The Crop Micronutrients Market size is estimated to be $5.0 billion in 2023 and is projected to reach $8.5 billion by 2030

The leading players in the Crop Micronutrients Market are BASF SE, Yara International ASA, Nutrien, Bayer CropScience, Nufarm and others

Nanotechnology and micronutrient enriched fertilizers are some of the major Crop Micronutrients Market trends in the industry which will create growth opportunities for the market during the forecast period.

The growing need for food security, soil degradation, effects of climate change on agriculture and the need for nutritious food are the driving factors of the market.