Micronutrient Fertilizer Market Size
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 5.6 Billion |
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Market Size (2030) | USD 8.25 Billion |
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Largest Share by Product | Copper |
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CAGR (2024 - 2030) | 6.69 % |
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Largest Share by Region | Asia-Pacific |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Micronutrient Fertilizer Market Analysis
The Micronutrient Fertilizer Market size is estimated at 5.6 billion USD in 2024, and is expected to reach 8.25 billion USD by 2030, growing at a CAGR of 6.69% during the forecast period (2024-2030).
5.6 Billion
Market Size in 2024 (USD)
8.25 Billion
Market Size in 2030 (USD)
5.38 %
CAGR (2017-2023)
6.69 %
CAGR (2024-2030)
Largest Segment by Type
23.57 %
value share, Copper, 2023
Copper sulfate is the preferred source of copper fertilizer because they are cheaper and more readily available in the market than chelated copper sources.
Fastest Growing Type
7.56 %
Projected CAGR, Boron, 2024-2030
Boron is an important micronutrient for plant growth, the rising need to address deficiency to improve crop yield and quality is driving the demand for boron fertilizers.
Largest Segment by Crop Type
84.37 %
value share, Field Crops, 2023
The need for high productivity and higher resistance to biotic and abiotic stresses of the crops has increased the demand for micronutrients in field crop segment.
Largest segment by Country
13.35 %
value share, United States, 2023
Farmers in the United States are increasingly aware of soil nutrient deficiencies impacting crop health and yields which has contributed to the it's dominance in the market.
Leading Market Player
25.04 %
market share, Yara International ASA, 2022
Yara International has expanded its micronutrient product portfolio and production facilities to meet the growing demand which has contributed to secure a significant share
The rising micronutrient deficiency in soil is expected to fuel the growth of the micronutrient fertilizer market
- Micronutrients play an important role in many plant metabolic activities, such as cell wall formation, pollen formation, germination, chlorophyll production, nitrogen fixation, and the synthesis of the essential parts of proteins. The global micronutrient fertilizer market value is anticipated to register a CAGR of 6.6% during 2023-2030.
- Zinc accounted for a major share of 26.6% of the global micronutrient fertilizer market value in 2022. Of the total value share held by zinc fertilizers, conventional zinc fertilizers accounted for about 87.5%, and specialty zinc fertilizers accounted for about 12.5%. Specialty zinc fertilizers have the advantage of uniform distribution and fast acting on crops compared to conventional fertilizers.
- The Asia-Pacific region dominated the global market, accounting for 33.3% of the market value share in 2022. The distribution network of micronutrient fertilizers is well-established in the major Asia-Pacific countries, further boosting the market for various micronutrient fertilizer products in the region. The increasing demand for food grains, coupled with decreasing nutrients in the soil, is one of the major factors driving the growth of the market in the region. Recent studies have indicated that zinc deficiency is China's most widespread micronutrient deficiency. More than 50.0% of the arable soils are low in zinc, thereby limiting agricultural growth and improvement in human nutrition.
- Widespread micronutrient deficiencies worldwide are becoming a rising concern for plant health, coupled with increasing encouragement from various government agencies and other organizations to improve the use of micronutrients to enhance plant and soil health, which is driving the growth of the market.
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The increase in micronutrient deficiencies increases the demand for micronutrient fertilizers
- The global micronutrient fertilizer market grew at a stable rate during the study period, with a value of USD 5.70 billion in 2022. Asia-Pacific occupied the largest market share of 38.8% in 2022, followed by Europe and North America.
- Countries such as India and China are the major micronutrient fertilizer markets, accounting for 13.9% and 10.5% of the market share in 2022, respectively. The increase in micronutrient deficiency in Chinese crops resulted in 31.4% of micronutrient fertilizer consumption in 2022. The Ministry of Agriculture (MoA) of China added zinc, at a rate of 15-30 ZnSO4 kg/ha, to its national fertilizer recommendation, which was recently extended for summer crops like rice and corn.
- France is the major market for micronutrient fertilizer in Europe, followed by Ukraine, with a market value of USD 218.4 million in 2022. The area under the cultivation of horticultural crops decreased from 17.4 million hectares in 2017 to 15.6 million hectares in 2022. However, the figure is expected to increase further in the following years.
- Apart from Asia, zinc and iron deficiency in the soil is quite widespread in Sub-Saharan Africa and northwest South America. The overall advantages of micronutrient fertilizers are being widely accepted and recognized. The global export value of zinc in 2021 amounted to USD 1.6 million, with the Netherlands as the top exporter of the micronutrients, with a value of USD 275.6 thousand.
- The market is growing because of the widespread micronutrient deficiencies around the world, with iron and zinc deficiencies becoming a rising concern for plant health, and also due to the increasing encouragement from various government agencies to increase the use of micronutrients.
Global Micronutrient Fertilizer Market Trends
The rising pressure on the agriculture industry to meet the growing demand for food is expected to increase the area under field crop cultivation
- The global agricultural sector is currently facing many challenges. According to the UN, the world population may exceed 9 billion by 2050. This population growth may overburden the agricultural industry, which is already experiencing an output loss due to a lack of laborers and the shrinkage of agricultural fields caused by rising urbanization. According to the Food and Agriculture Organization, 70% of the global population is expected to live in cities by 2050. Due to the global loss of arable land, farmers now need to utilize more fertilizers to increase crop yields.
- The Asia-Pacific region is the world's largest producer of agricultural products. Agriculture is critical to the region's economy, as it employs about 20% of the total available workforce. Field crop cultivation dominates the region, accounting for about more than 95% of the total crop area in the region. Rice, wheat, and corn are the major field crops produced in the region, together accounting for about 24.3% of the total crop area in 2022.
- North America ranks as the second-largest arable region globally. Its farms cultivate a diverse range of crops, with a focus on field crops. Notably, corn, cotton, rice, soybean, and wheat are the prominent field crops, as highlighted by the USDA. In 2022, the United States commanded 46.2% of North America's crop cultivation area. However, the country witnessed a significant drop in crop acreage between 2017 and 2019, primarily due to adverse environmental conditions, leading to severe flooding in regions like Texas and Houston.
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The Asia-Pacific region accounted for the highest average micronutrient application rate of 5.20 kg/hectare
- Due to high rates of nutrient loss from high-yielding crops, the demand for micronutrients has risen significantly. Micronutrient deficiency is a problem that affects almost all regions across the world. Globally, the average micronutrient application in field crops was 3.92 kg/hectare in 2022. Accordingly, manganese, zinc, and copper were estimated to be major nutrients with higher application rates in field crops in 2022, accounting for 9.53 kg/ha, 6.63 kg/ha, and 6.34 kg/ha, respectively.
- Rapeseed/canola led the pack with the highest average micronutrient application of 5.20 kg/ha in 2022, followed by rice and sorghum at 4.42 kg/ha and 4.37 kg/ha, respectively. Different crops and regions respond differently to micronutrients. For example, copper and manganese deficiencies are common in wheat, while boron deficiency is observed in wheat, and molybdenum is lacking in the Asia-Pacific region. In rapeseed/canola, zinc, manganese, and copper are the primary deficiencies.
- In 2022, Asia-Pacific had the highest average micronutrient application rate of 5.20 kg/ha, followed by South America with 4.37 kg/ha and North America with 4.21kg/ha. Micronutrient use in crop production has increased significantly in recent years as farmers strive to increase yield per planted hectare. To improve soil health and crop productivity and satisfy a growing population, crop yields must increase to meet food production demands. As a result, the global demand for micronutrient fertilizers and agricultural production is experiencing the most significant rise.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- The growing demand for fruits and vegetables drives the expansion of horticulture crop cultivation
- Asia-Pacific occupies the majority of the irrigation area globally, accounting for 66.8% in 2022
- Micronutrient deficiency in vegetable crops can have several detrimental effects.
Micronutrient Fertilizer Industry Overview
The Micronutrient Fertilizer Market is moderately consolidated, with the top five companies occupying 61.90%. The major players in this market are Coromandel International Ltd., ICL Group Ltd, K+S Aktiengesellschaft, The Mosaic Company and Yara International ASA (sorted alphabetically).
Micronutrient Fertilizer Market Leaders
Coromandel International Ltd.
ICL Group Ltd
K+S Aktiengesellschaft
The Mosaic Company
Yara International ASA
Other important companies include BMS Micro-Nutrients NV, Haifa Group, Koch Industries Inc., Nouryon.
*Disclaimer: Major Players sorted in alphabetical order.
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Micronutrient Fertilizer Market News
- April 2023: K+S acquired a 75% share of the fertilizer business of a South African trading company, Industrial Commodities Holdings (Pty) Ltd (ICH). In addition to expanding the core business, K+S is strengthening its operations in southern and eastern Africa as a result of this acquisition. The newly acquired fertilizer business in the future is to be operated in a joint venture under the name of FertivPty Ltd.
- April 2023: ADOB, a major provider of chelating micronutrients, foliar, and other specialty farming solutions based in Poland, was acquired by Nouryon. Through the acquisition, the company broadened its innovative crop nutrition portfolio.
- May 2022: ICL launched three new NPK formulations of Solinure, a product with increased trace elements to optimize yields.
Free with this Report
Along with the report, We also offer a comprehensive and exhaustive data pack with 25+ graphs on area under cultivation and average application rate per hectare. The data pack includes Globe, North America, Europe, Asia-Pacific, South America, and Africa.
Micronutrient Fertilizer Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
- 3.1 Study Assumptions & Market Definition
- 3.2 Scope of the Study
- 3.3 Research Methodology
4. KEY INDUSTRY TRENDS
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4.1 Acreage Of Major Crop Types
- 4.1.1 Field Crops
- 4.1.2 Horticultural Crops
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4.2 Average Nutrient Application Rates
- 4.2.1 Micronutrients
- 4.2.1.1 Field Crops
- 4.2.1.2 Horticultural Crops
- 4.3 Agricultural Land Equipped For Irrigation
- 4.4 Regulatory Framework
- 4.5 Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)
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5.1 Product
- 5.1.1 Boron
- 5.1.2 Copper
- 5.1.3 Iron
- 5.1.4 Manganese
- 5.1.5 Molybdenum
- 5.1.6 Zinc
- 5.1.7 Others
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5.2 Application Mode
- 5.2.1 Fertigation
- 5.2.2 Foliar
- 5.2.3 Soil
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5.3 Crop Type
- 5.3.1 Field Crops
- 5.3.2 Horticultural Crops
- 5.3.3 Turf & Ornamental
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5.4 Region
- 5.4.1 Asia-Pacific
- 5.4.1.1 Australia
- 5.4.1.2 Bangladesh
- 5.4.1.3 China
- 5.4.1.4 India
- 5.4.1.5 Indonesia
- 5.4.1.6 Japan
- 5.4.1.7 Pakistan
- 5.4.1.8 Philippines
- 5.4.1.9 Thailand
- 5.4.1.10 Vietnam
- 5.4.1.11 Rest of Asia-Pacific
- 5.4.2 Europe
- 5.4.2.1 France
- 5.4.2.2 Germany
- 5.4.2.3 Italy
- 5.4.2.4 Netherlands
- 5.4.2.5 Russia
- 5.4.2.6 Spain
- 5.4.2.7 Ukraine
- 5.4.2.8 United Kingdom
- 5.4.2.9 Rest of Europe
- 5.4.3 Middle East & Africa
- 5.4.3.1 Nigeria
- 5.4.3.2 Saudi Arabia
- 5.4.3.3 South Africa
- 5.4.3.4 Turkey
- 5.4.3.5 Rest of Middle East & Africa
- 5.4.4 North America
- 5.4.4.1 Canada
- 5.4.4.2 Mexico
- 5.4.4.3 United States
- 5.4.4.4 Rest of North America
- 5.4.5 South America
- 5.4.5.1 Argentina
- 5.4.5.2 Brazil
- 5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
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6.4 Company Profiles
- 6.4.1 BMS Micro-Nutrients NV
- 6.4.2 Coromandel International Ltd.
- 6.4.3 Haifa Group
- 6.4.4 ICL Group Ltd
- 6.4.5 K+S Aktiengesellschaft
- 6.4.6 Koch Industries Inc.
- 6.4.7 Nouryon
- 6.4.8 The Mosaic Company
- 6.4.9 Yara International ASA
- *List Not Exhaustive
7. KEY STRATEGIC QUESTIONS FOR FERTILIZER CEOS
8. APPENDIX
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8.1 Global Overview
- 8.1.1 Overview
- 8.1.2 Porter’s Five Forces Framework
- 8.1.3 Global Value Chain Analysis
- 8.1.4 Market Dynamics (DROs)
- 8.2 Sources & References
- 8.3 List of Tables & Figures
- 8.4 Primary Insights
- 8.5 Data Pack
- 8.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- CULTIVATION OF FIELD CROPS IN HECTARE, GLOBAL, 2017 - 2022
- Figure 2:
- CULTIVATION OF HORTICULTURAL CROPS IN HECTARE, GLOBAL, 2017 - 2022
- Figure 3:
- CONSUMPTION OF MICRONUTRIENTS BY FIELD CROPS IN KG/HECTARE, GLOBAL, 2022
- Figure 4:
- CONSUMPTION OF MICRONUTRIENTS BY HORTICULTURAL CROPS IN KG/HECTARE, GLOBAL, 2022
- Figure 5:
- AGRICULTURAL LAND EQUIPPED FOR IRRIGATION IN HECTARE, GLOBAL, 2022
- Figure 6:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 7:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN USD, GLOBAL, 2017 - 2030
- Figure 8:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY PRODUCT IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 9:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY PRODUCT IN USD, GLOBAL, 2017 - 2030
- Figure 10:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VOLUME BY PRODUCT IN %, GLOBAL, 2017 VS 2023 VS 2030
- Figure 11:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY PRODUCT IN %, GLOBAL, 2017 VS 2023 VS 2030
- Figure 12:
- BORON FERTILIZER CONSUMPTION IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 13:
- BORON FERTILIZER CONSUMPTION IN USD, GLOBAL, 2017 - 2030
- Figure 14:
- BORON FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, GLOBAL, 2023 VS 2030
- Figure 15:
- COPPER FERTILIZER CONSUMPTION IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 16:
- COPPER FERTILIZER CONSUMPTION IN USD, GLOBAL, 2017 - 2030
- Figure 17:
- COPPER FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, GLOBAL, 2023 VS 2030
- Figure 18:
- IRON FERTILIZER CONSUMPTION IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 19:
- IRON FERTILIZER CONSUMPTION IN USD, GLOBAL, 2017 - 2030
- Figure 20:
- IRON FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, GLOBAL, 2023 VS 2030
- Figure 21:
- MANGANESE FERTILIZER CONSUMPTION IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 22:
- MANGANESE FERTILIZER CONSUMPTION IN USD, GLOBAL, 2017 - 2030
- Figure 23:
- MANGANESE FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, GLOBAL, 2023 VS 2030
- Figure 24:
- MOLYBDENUM FERTILIZER CONSUMPTION IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 25:
- MOLYBDENUM FERTILIZER CONSUMPTION IN USD, GLOBAL, 2017 - 2030
- Figure 26:
- MOLYBDENUM FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, GLOBAL, 2023 VS 2030
- Figure 27:
- ZINC FERTILIZER CONSUMPTION IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 28:
- ZINC FERTILIZER CONSUMPTION IN USD, GLOBAL, 2017 - 2030
- Figure 29:
- ZINC FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, GLOBAL, 2023 VS 2030
- Figure 30:
- OTHERS FERTILIZER CONSUMPTION IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 31:
- OTHERS FERTILIZER CONSUMPTION IN USD, GLOBAL, 2017 - 2030
- Figure 32:
- OTHERS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, GLOBAL, 2023 VS 2030
- Figure 33:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY APPLICATION MODE IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 34:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY APPLICATION MODE IN USD, GLOBAL, 2017 - 2030
- Figure 35:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VOLUME BY APPLICATION MODE IN %, GLOBAL, 2017 VS 2023 VS 2030
- Figure 36:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY APPLICATION MODE IN %, GLOBAL, 2017 VS 2023 VS 2030
- Figure 37:
- FERTIGATION APPLICATION OF MICRONUTRIENTS FERTILIZER IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 38:
- FERTIGATION APPLICATION OF MICRONUTRIENTS FERTILIZER IN USD, GLOBAL, 2017 - 2030
- Figure 39:
- FERTIGATION APPLICATION OF MICRONUTRIENTS FERTILIZER IN VALUE BY CROP TYPE IN %, GLOBAL, 2023 VS 2030
- Figure 40:
- FOLIAR APPLICATION OF MICRONUTRIENTS FERTILIZER IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 41:
- FOLIAR APPLICATION OF MICRONUTRIENTS FERTILIZER IN USD, GLOBAL, 2017 - 2030
- Figure 42:
- FOLIAR APPLICATION OF MICRONUTRIENTS FERTILIZER IN VALUE BY CROP TYPE IN %, GLOBAL, 2023 VS 2030
- Figure 43:
- SOIL APPLICATION OF MICRONUTRIENTS FERTILIZER IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 44:
- SOIL APPLICATION OF MICRONUTRIENTS FERTILIZER IN USD, GLOBAL, 2017 - 2030
- Figure 45:
- SOIL APPLICATION OF MICRONUTRIENTS FERTILIZER IN VALUE BY CROP TYPE IN %, GLOBAL, 2023 VS 2030
- Figure 46:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY CROP TYPE IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 47:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY CROP TYPE IN USD, GLOBAL, 2017 - 2030
- Figure 48:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VOLUME BY CROP TYPE IN %, GLOBAL, 2017 VS 2023 VS 2030
- Figure 49:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, GLOBAL, 2017 VS 2023 VS 2030
- Figure 50:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY FIELD CROPS IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 51:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY FIELD CROPS IN USD, GLOBAL, 2017 - 2030
- Figure 52:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY SPECIALITY TYPE IN %, GLOBAL, 2023 VS 2030
- Figure 53:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY HORTICULTURAL CROPS IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 54:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY HORTICULTURAL CROPS IN USD, GLOBAL, 2017 - 2030
- Figure 55:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY SPECIALITY TYPE IN %, GLOBAL, 2023 VS 2030
- Figure 56:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY TURF & ORNAMENTAL IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 57:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY TURF & ORNAMENTAL IN USD, GLOBAL, 2017 - 2030
- Figure 58:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY SPECIALITY TYPE IN %, GLOBAL, 2023 VS 2030
- Figure 59:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY REGION IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 60:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY REGION IN USD, GLOBAL, 2017 - 2030
- Figure 61:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VOLUME BY REGION IN %, GLOBAL, 2017 VS 2023 VS 2030
- Figure 62:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY REGION IN %, GLOBAL, 2017 VS 2023 VS 2030
- Figure 63:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY COUNTRY IN METRIC TON, ASIA-PACIFIC, 2017 - 2030
- Figure 64:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY COUNTRY IN USD, ASIA-PACIFIC, 2017 - 2030
- Figure 65:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VOLUME BY COUNTRY IN %, ASIA-PACIFIC, 2017 VS 2023 VS 2030
- Figure 66:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY COUNTRY IN %, ASIA-PACIFIC, 2017 VS 2023 VS 2030
- Figure 67:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN METRIC TON, AUSTRALIA, 2017 - 2030
- Figure 68:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN USD, AUSTRALIA, 2017 - 2030
- Figure 69:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, AUSTRALIA, 2023 VS 2030
- Figure 70:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN METRIC TON, BANGLADESH, 2017 - 2030
- Figure 71:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN USD, BANGLADESH, 2017 - 2030
- Figure 72:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, BANGLADESH, 2023 VS 2030
- Figure 73:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN METRIC TON, CHINA, 2017 - 2030
- Figure 74:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN USD, CHINA, 2017 - 2030
- Figure 75:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, CHINA, 2023 VS 2030
- Figure 76:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN METRIC TON, INDIA, 2017 - 2030
- Figure 77:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN USD, INDIA, 2017 - 2030
- Figure 78:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, INDIA, 2023 VS 2030
- Figure 79:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN METRIC TON, INDONESIA, 2017 - 2030
- Figure 80:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN USD, INDONESIA, 2017 - 2030
- Figure 81:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, INDONESIA, 2023 VS 2030
- Figure 82:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN METRIC TON, JAPAN, 2017 - 2030
- Figure 83:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN USD, JAPAN, 2017 - 2030
- Figure 84:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, JAPAN, 2023 VS 2030
- Figure 85:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN METRIC TON, PAKISTAN, 2017 - 2030
- Figure 86:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN USD, PAKISTAN, 2017 - 2030
- Figure 87:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, PAKISTAN, 2023 VS 2030
- Figure 88:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN METRIC TON, PHILIPPINES, 2017 - 2030
- Figure 89:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN USD, PHILIPPINES, 2017 - 2030
- Figure 90:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, PHILIPPINES, 2023 VS 2030
- Figure 91:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN METRIC TON, THAILAND, 2017 - 2030
- Figure 92:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN USD, THAILAND, 2017 - 2030
- Figure 93:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, THAILAND, 2023 VS 2030
- Figure 94:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 95:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN USD, VIETNAM, 2017 - 2030
- Figure 96:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, VIETNAM, 2023 VS 2030
- Figure 97:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN METRIC TON, REST OF ASIA-PACIFIC, 2017 - 2030
- Figure 98:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN USD, REST OF ASIA-PACIFIC, 2017 - 2030
- Figure 99:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, REST OF ASIA-PACIFIC, 2023 VS 2030
- Figure 100:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY COUNTRY IN METRIC TON, EUROPE, 2017 - 2030
- Figure 101:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY COUNTRY IN USD, EUROPE, 2017 - 2030
- Figure 102:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VOLUME BY COUNTRY IN %, EUROPE, 2017 VS 2023 VS 2030
- Figure 103:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY COUNTRY IN %, EUROPE, 2017 VS 2023 VS 2030
- Figure 104:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN METRIC TON, FRANCE, 2017 - 2030
- Figure 105:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN USD, FRANCE, 2017 - 2030
- Figure 106:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, FRANCE, 2023 VS 2030
- Figure 107:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN METRIC TON, GERMANY, 2017 - 2030
- Figure 108:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN USD, GERMANY, 2017 - 2030
- Figure 109:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, GERMANY, 2023 VS 2030
- Figure 110:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN METRIC TON, ITALY, 2017 - 2030
- Figure 111:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN USD, ITALY, 2017 - 2030
- Figure 112:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, ITALY, 2023 VS 2030
- Figure 113:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN METRIC TON, NETHERLANDS, 2017 - 2030
- Figure 114:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN USD, NETHERLANDS, 2017 - 2030
- Figure 115:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, NETHERLANDS, 2023 VS 2030
- Figure 116:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN METRIC TON, RUSSIA, 2017 - 2030
- Figure 117:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN USD, RUSSIA, 2017 - 2030
- Figure 118:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, RUSSIA, 2023 VS 2030
- Figure 119:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN METRIC TON, SPAIN, 2017 - 2030
- Figure 120:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN USD, SPAIN, 2017 - 2030
- Figure 121:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, SPAIN, 2023 VS 2030
- Figure 122:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN METRIC TON, UKRAINE, 2017 - 2030
- Figure 123:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN USD, UKRAINE, 2017 - 2030
- Figure 124:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, UKRAINE, 2023 VS 2030
- Figure 125:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN METRIC TON, UNITED KINGDOM, 2017 - 2030
- Figure 126:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN USD, UNITED KINGDOM, 2017 - 2030
- Figure 127:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, UNITED KINGDOM, 2023 VS 2030
- Figure 128:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN METRIC TON, REST OF EUROPE, 2017 - 2030
- Figure 129:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN USD, REST OF EUROPE, 2017 - 2030
- Figure 130:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, REST OF EUROPE, 2023 VS 2030
- Figure 131:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY COUNTRY IN METRIC TON, MIDDLE EAST & AFRICA, 2017 - 2030
- Figure 132:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY COUNTRY IN USD, MIDDLE EAST & AFRICA, 2017 - 2030
- Figure 133:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VOLUME BY COUNTRY IN %, MIDDLE EAST & AFRICA, 2017 VS 2023 VS 2030
- Figure 134:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY COUNTRY IN %, MIDDLE EAST & AFRICA, 2017 VS 2023 VS 2030
- Figure 135:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN METRIC TON, NIGERIA, 2017 - 2030
- Figure 136:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN USD, NIGERIA, 2017 - 2030
- Figure 137:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, NIGERIA, 2023 VS 2030
- Figure 138:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN METRIC TON, SAUDI ARABIA, 2017 - 2030
- Figure 139:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN USD, SAUDI ARABIA, 2017 - 2030
- Figure 140:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, SAUDI ARABIA, 2023 VS 2030
- Figure 141:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN METRIC TON, SOUTH AFRICA, 2017 - 2030
- Figure 142:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN USD, SOUTH AFRICA, 2017 - 2030
- Figure 143:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, SOUTH AFRICA, 2023 VS 2030
- Figure 144:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN METRIC TON, TURKEY, 2017 - 2030
- Figure 145:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN USD, TURKEY, 2017 - 2030
- Figure 146:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, TURKEY, 2023 VS 2030
- Figure 147:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN METRIC TON, REST OF MIDDLE EAST & AFRICA, 2017 - 2030
- Figure 148:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN USD, REST OF MIDDLE EAST & AFRICA, 2017 - 2030
- Figure 149:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, REST OF MIDDLE EAST & AFRICA, 2023 VS 2030
- Figure 150:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY COUNTRY IN METRIC TON, NORTH AMERICA, 2017 - 2030
- Figure 151:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY COUNTRY IN USD, NORTH AMERICA, 2017 - 2030
- Figure 152:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VOLUME BY COUNTRY IN %, NORTH AMERICA, 2017 VS 2023 VS 2030
- Figure 153:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY COUNTRY IN %, NORTH AMERICA, 2017 VS 2023 VS 2030
- Figure 154:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN METRIC TON, CANADA, 2017 - 2030
- Figure 155:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN USD, CANADA, 2017 - 2030
- Figure 156:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, CANADA, 2023 VS 2030
- Figure 157:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN METRIC TON, MEXICO, 2017 - 2030
- Figure 158:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN USD, MEXICO, 2017 - 2030
- Figure 159:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, MEXICO, 2023 VS 2030
- Figure 160:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN METRIC TON, UNITED STATES, 2017 - 2030
- Figure 161:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN USD, UNITED STATES, 2017 - 2030
- Figure 162:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, UNITED STATES, 2023 VS 2030
- Figure 163:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN METRIC TON, REST OF NORTH AMERICA, 2017 - 2030
- Figure 164:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN USD, REST OF NORTH AMERICA, 2017 - 2030
- Figure 165:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, REST OF NORTH AMERICA, 2023 VS 2030
- Figure 166:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY COUNTRY IN METRIC TON, SOUTH AMERICA, 2017 - 2030
- Figure 167:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY COUNTRY IN USD, SOUTH AMERICA, 2017 - 2030
- Figure 168:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VOLUME BY COUNTRY IN %, SOUTH AMERICA, 2017 VS 2023 VS 2030
- Figure 169:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY COUNTRY IN %, SOUTH AMERICA, 2017 VS 2023 VS 2030
- Figure 170:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN METRIC TON, ARGENTINA, 2017 - 2030
- Figure 171:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN USD, ARGENTINA, 2017 - 2030
- Figure 172:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, ARGENTINA, 2023 VS 2030
- Figure 173:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN METRIC TON, BRAZIL, 2017 - 2030
- Figure 174:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN USD, BRAZIL, 2017 - 2030
- Figure 175:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, BRAZIL, 2023 VS 2030
- Figure 176:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN METRIC TON, REST OF SOUTH AMERICA, 2017 - 2030
- Figure 177:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN USD, REST OF SOUTH AMERICA, 2017 - 2030
- Figure 178:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, REST OF SOUTH AMERICA, 2023 VS 2030
- Figure 179:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, GLOBAL, 2017 - 2030
- Figure 180:
- GLOBAL MICRONUTRIENT FERTILIZER MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
- Figure 181:
- MARKET SHARE OF MAJOR PLAYERS IN %, GLOBAL, 2022
Micronutrient Fertilizer Industry Segmentation
Boron, Copper, Iron, Manganese, Molybdenum, Zinc, Others are covered as segments by Product. Fertigation, Foliar, Soil are covered as segments by Application Mode. Field Crops, Horticultural Crops, Turf & Ornamental are covered as segments by Crop Type. Asia-Pacific, Europe, Middle East & Africa, North America, South America are covered as segments by Region.
- Micronutrients play an important role in many plant metabolic activities, such as cell wall formation, pollen formation, germination, chlorophyll production, nitrogen fixation, and the synthesis of the essential parts of proteins. The global micronutrient fertilizer market value is anticipated to register a CAGR of 6.6% during 2023-2030.
- Zinc accounted for a major share of 26.6% of the global micronutrient fertilizer market value in 2022. Of the total value share held by zinc fertilizers, conventional zinc fertilizers accounted for about 87.5%, and specialty zinc fertilizers accounted for about 12.5%. Specialty zinc fertilizers have the advantage of uniform distribution and fast acting on crops compared to conventional fertilizers.
- The Asia-Pacific region dominated the global market, accounting for 33.3% of the market value share in 2022. The distribution network of micronutrient fertilizers is well-established in the major Asia-Pacific countries, further boosting the market for various micronutrient fertilizer products in the region. The increasing demand for food grains, coupled with decreasing nutrients in the soil, is one of the major factors driving the growth of the market in the region. Recent studies have indicated that zinc deficiency is China's most widespread micronutrient deficiency. More than 50.0% of the arable soils are low in zinc, thereby limiting agricultural growth and improvement in human nutrition.
- Widespread micronutrient deficiencies worldwide are becoming a rising concern for plant health, coupled with increasing encouragement from various government agencies and other organizations to improve the use of micronutrients to enhance plant and soil health, which is driving the growth of the market.
| Product | Boron | |
| Copper | ||
| Iron | ||
| Manganese | ||
| Molybdenum | ||
| Zinc | ||
| Others | ||
| Application Mode | Fertigation | |
| Foliar | ||
| Soil | ||
| Crop Type | Field Crops | |
| Horticultural Crops | ||
| Turf & Ornamental | ||
| Region | Asia-Pacific | Australia |
| Bangladesh | ||
| China | ||
| India | ||
| Indonesia | ||
| Japan | ||
| Pakistan | ||
| Philippines | ||
| Thailand | ||
| Vietnam | ||
| Rest of Asia-Pacific | ||
| Region | Europe | France |
| Germany | ||
| Italy | ||
| Netherlands | ||
| Russia | ||
| Spain | ||
| Ukraine | ||
| United Kingdom | ||
| Rest of Europe | ||
| Region | Middle East & Africa | Nigeria |
| Saudi Arabia | ||
| South Africa | ||
| Turkey | ||
| Rest of Middle East & Africa | ||
| Region | North America | Canada |
| Mexico | ||
| United States | ||
| Rest of North America | ||
| Region | South America | Argentina |
| Brazil | ||
| Rest of South America |
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Market Definition
- MARKET ESTIMATION LEVEL - Market Estimations for various types of fertilizers has been done at the product-level and not at the nutrient-level.
- NUTRIENT TYPES COVERED - Micronutients: Zn, Mn, Cu, Fe, Mo, B, and Others
- AVERAGE NUTRIENT APPLICATION RATE - This refers to the average volume of nutrient consumed per hectare of farmland in each country.
- CROP TYPES COVERED - Field Crops: Cereals, Pulses, Oilseeds, and Fiber Crops Horticulture: Fruits, Vegetables, Plantation Crops and Spices, Turf Grass and Ornamentals
| Keyword | Definition |
|---|---|
| Fertilizer | Chemical substance applied to crops to ensure nutritional requirements, available in various forms such as granules, powders, liquid, water soluble, etc. |
| Specialty Fertilizer | Used for enhanced efficiency and nutrient availability applied through soil, foliar, and fertigation. Includes CRF, SRF, liquid fertilizer, and water soluble fertilizers. |
| Controlled-Release Fertilizers (CRF) | Coated with materials such as polymer, polymer-sulfur, and other materials such as resins to ensure nutrient availability to the crop for its entire life cycle. |
| Slow-Release Fertilizers (SRF) | Coated with materials such as sulfur, neem, etc., to ensure nutrient availability to the crop for a longer period. |
| Foliar Fertilizers | Consist of both liquid and water soluble fertilizers applied through foliar application. |
| Water-Soluble Fertilizers | Available in various forms including liquid, powder, etc., used in foliar and fertigation mode of fertilizer application. |
| Fertigation | Fertilizers applied through different irrigation systems such as drip irrigation, micro irrigation, sprinkler irrigation, etc. |
| Anhydrous Ammonia | Used as fertilizer, directly injected into the soil, available in gaseous liquid form. |
| Single Super Phosphate (SSP) | Phosphorus fertilizer containing only phosphorus which has lesser than or equal to 35%. |
| Triple Super Phosphate (TSP) | Phosphorus fertilizer containing only phosphorus greater than 35%. |
| Enhanced Efficiency Fertilizers | Fertilizers coated or treated with additional layers of various ingredients to make it more efficient compared to other fertilizers. |
| Conventional Fertilizer | Fertilizers applied to crops through traditional methods including broadcasting, row placement, ploughing soil placement, etc. |
| Chelated Micronutrients | Micronutrient fertilizers coated with chelating agents such as EDTA, EDDHA, DTPA, HEDTA, etc. |
| Liquid Fertilizers | Available in liquid form, majorly used for application of fertilizers to crops through foliar and fertigation. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: IDENTIFY KEY VARIABLES: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-2: Build a Market Model: Market-size estimations for the forecast years are in nominal terms. Inflation is not a part of the pricing, and the average selling price (ASP) is kept constant throughout the forecast period for each country.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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