Russia Micronutrient Fertilizer Market Size

The Russia Micronutrient Fertilizer Market is projected to experience significant growth, driven by the essential role of micronutrients in plant metabolic processes. Copper currently leads the market due to its critical function in chlorophyll formation and enzymatic processes, while zinc follows as a key component in enzyme activation and carbohydrate metabolism. Molybdenum and boron also contribute to the market, with boron having a substantial share in consumption volume despite its lower market value. The increasing demand for these fertilizers, essential for enhancing crop yield and quality, indicates a positive trajectory for the market size in the coming years.

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Market Size of russia micronutrient fertilizer Industry

Russia Micronutrient Fertilizer Market Summary
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svg icon Study Period 2017 - 2030
svg icon Market Size (2024) USD 166 Million
svg icon Market Size (2030) USD 235.8 Million
svg icon Largest Share by Product Copper
svg icon CAGR (2024 - 2030) 6.03 %
svg icon Fastest Growing by Product Molybdenum

Major Players

Russia Micronutrient Fertilizer Market Major Players

*Disclaimer: Major Players sorted in no particular order

Key Players

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Russia Micronutrient Fertilizer Market Analysis

The Russia Micronutrient Fertilizer Market size is estimated at 166 million USD in 2024, and is expected to reach 235.8 million USD by 2030, growing at a CAGR of 6.03% during the forecast period (2024-2030).

166 Million

Market Size in 2024 (USD)

235.8 Million

Market Size in 2030 (USD)

2.91 %

CAGR (2017-2023)

6.03 %

CAGR (2024-2030)

Largest Segment by Type

36.13 %

value share, Copper, 2023

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The country soils include sandy soils, calcareous soils, and soils with high organic content exhibiting copper deficiency. This will drive the copper market in Russia.

Fastest Growing Type

6.63 %

Projected CAGR, Molybdenum, 2024-2030

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The growing molybdenum micronutrient deficiency in the country's acidic soils and soils with low pH content may raise the molybdenum fertilizer usage in the country.

Largest Segment by Crop Type

95.14 %

value share, Field Crops, 2023

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The demand for consistent and higher yields of staple field crops like wheat and corn in the country has lead to greater usage of fertilizers to ensure optimum productivity.

Largest segment by Application Mode

91.03 %

value share, Soil, 2023

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Soil is the most common method for micronutrient application. The chelated micronutrients are proven to have fewer reactions in the soil, can increase application through soil.

Leading Market Player

10.38 %

market share, Yara International ASA, 2022

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The company has several products catering to the needs of Russian farmers. The strong distribution network of Yara International ASA has a vital role for its market position.

Zinc micronutrient fertilizer dominated the Russian micronutrient fertilizer market

  • Micronutrients actively participate in crucial plant metabolic activities, including cell wall formation, pollen development, germination, chlorophyll synthesis, nitrogen fixation, and protein component synthesis.
  • In 2022, copper dominated Russia's micronutrient fertilizer market, constituting approximately 40.5% of the total value. Copper is pivotal in chlorophyll formation and vital for numerous enzymatic processes. Its deficiency significantly hampers crop yield, leading to subpar grain filling and malformed kernels.
  • Zinc held the second-largest market share in Russia's micronutrient fertilizer market in 2022, accounting for around 23.5% of the total value. Zinc is a key constituent of plant enzyme systems, facilitating the activation of diverse enzymes and enhancing carbohydrate metabolism.
  • Molybdenum, comprising 2.5% of the overall micronutrient market in 2022, is an essential trace element. Unlike most micronutrients, its availability to plants increases with soil pH. Molybdenum is crucial for the production and functioning of the nitrate reductase enzyme.
  • In 2022, boron micronutrient fertilizers held the second-largest market share in Russia, accounting for 25.7% in terms of consumption volume. However, in terms of market value, boron micronutrients only commanded 5.2%, primarily due to their relatively lower cost compared to other micronutrients in the country.
  • Given their pivotal role in plant metabolism, the micronutrient fertilizers market is poised for growth in the coming years.
Russia Micronutrient Fertilizer Market

Russia Micronutrient Fertilizer Industry Segmentation Russia 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.

  • Micronutrients actively participate in crucial plant metabolic activities, including cell wall formation, pollen development, germination, chlorophyll synthesis, nitrogen fixation, and protein component synthesis.
  • In 2022, copper dominated Russia's micronutrient fertilizer market, constituting approximately 40.5% of the total value. Copper is pivotal in chlorophyll formation and vital for numerous enzymatic processes. Its deficiency significantly hampers crop yield, leading to subpar grain filling and malformed kernels.
  • Zinc held the second-largest market share in Russia's micronutrient fertilizer market in 2022, accounting for around 23.5% of the total value. Zinc is a key constituent of plant enzyme systems, facilitating the activation of diverse enzymes and enhancing carbohydrate metabolism.
  • Molybdenum, comprising 2.5% of the overall micronutrient market in 2022, is an essential trace element. Unlike most micronutrients, its availability to plants increases with soil pH. Molybdenum is crucial for the production and functioning of the nitrate reductase enzyme.
  • In 2022, boron micronutrient fertilizers held the second-largest market share in Russia, accounting for 25.7% in terms of consumption volume. However, in terms of market value, boron micronutrients only commanded 5.2%, primarily due to their relatively lower cost compared to other micronutrients in the country.
  • Given their pivotal role in plant metabolism, the micronutrient fertilizers market is poised for growth in the coming years.
Product
Boron
Copper
Iron
Manganese
Molybdenum
Zinc
Others
Application Mode
Fertigation
Foliar
Soil
Crop Type
Field Crops
Horticultural Crops
Turf & Ornamental
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Russia Micronutrient Fertilizer Market Size Summary

The Russian micronutrient fertilizer market is poised for significant growth, driven by the essential role these fertilizers play in enhancing plant metabolic activities such as chlorophyll synthesis, nitrogen fixation, and protein component synthesis. The market is characterized by a diverse range of micronutrients, with copper and zinc holding substantial shares due to their critical functions in plant health and crop yield optimization. The agricultural landscape in Russia, dominated by field crops like wheat, corn, soybean, and rye, underscores the demand for micronutrient fertilizers. The government's initiatives to expand arable land and increase agricultural production further bolster the market's growth prospects.

The market is fragmented, with key players like Biolchim SPA, EuroChem Group, ICL Group Ltd, Mivena BV, and Yara International ASA leading the charge. These companies are actively innovating and expanding their product offerings to meet the growing demand for sustainable and efficient farming solutions. The emphasis on maintaining optimal soil micronutrient levels and the adoption of sustainable farming practices are expected to drive the market forward. As Russia continues to enhance its agricultural output, the micronutrient fertilizer market is set to experience robust growth, supported by both government policies and industry advancements.

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Russia Micronutrient Fertilizer Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)

    1. 1.1 Product

      1. 1.1.1 Boron

      2. 1.1.2 Copper

      3. 1.1.3 Iron

      4. 1.1.4 Manganese

      5. 1.1.5 Molybdenum

      6. 1.1.6 Zinc

      7. 1.1.7 Others

    2. 1.2 Application Mode

      1. 1.2.1 Fertigation

      2. 1.2.2 Foliar

      3. 1.2.3 Soil

    3. 1.3 Crop Type

      1. 1.3.1 Field Crops

      2. 1.3.2 Horticultural Crops

      3. 1.3.3 Turf & Ornamental

Russia Micronutrient Fertilizer Market Size FAQs

The Russia Micronutrient Fertilizer Market size is expected to reach USD 165.97 million in 2024 and grow at a CAGR of 6.03% to reach USD 235.79 million by 2030.

In 2024, the Russia Micronutrient Fertilizer Market size is expected to reach USD 165.97 million.

Russia Micronutrient Fertilizer Market Report Snapshots

Russia Micronutrient Fertilizer Market Size & Share Analysis - Growth Trends & Forecasts UP TO 2028