Agricultural Micronutrients Market Growth Prospects, Trends, Segments, Key Players and Forecast to 2032

 Rising understanding among farmers of the advantages of micronutrients for plant growth and crop productivity is one of the key factors driving revenue growth.

The global Agricultural Micronutrients Market size was USD 6 Billion in 2022 and is expected to reach USD 13.03 Billion in 2032, and register a revenue CAGR of 9% during the forecast period. Rising population, increasing need to increase agricultural productivity and quality, and rising need for food are major factors driving market revenue growth. Agricultural micronutrients are critical to modern agricultural operations because they have a significant impact on plant development, growth, and overall crop health.

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Top Leading Players in Agricultural Micronutrients Market:

Agricultural Micronutrients Market, it is a growing industry that provides essential nutrients to plants that are required for their growth and development. The global agricultural micronutrients market is also highly fragmented, with a number of major and medium-sized players competing for market share. Some of the major companies included in the market report are:

  • Yara International ASA
  • BASF SE
  • Syngenta AG
  • Agrium Inc.
  • The Mosaic Company
  • Compass Minerals International Inc.
  • Haifa Chemicals Ltd.
  • Balchem Corporation
  • Cheminova A/S
  • Grow More Inc.

Strategic Development:

  • In 2020, Yara International ASA announced its plan to acquire the agricultural business of Tata Chemicals Ltd. in India for $400 million. This acquisition aimed to expand Yara's presence in the Indian market and strengthen its position in the global agricultural micronutrients market.
  • In 2020, BASF SE acquired the American-based company, Becker Underwood, that specializes in agricultural biologicals, seed treatment products, and micronutrients. The acquisition was aimed at expanding BASF's product portfolio and strengthening its position in the global agricultural micronutrients market.
  • In 2020, Syngenta AG launched a new range of micronutrient fertilizers called the Fortenza Prime, which is designed to enhance the yield and quality of crops. The product is based on the company's micronutrient technology and is suitable for a wide range of crops, including wheat, corn, and soybean.
  • In 2021, The Mosaic Company announced its plan to acquire the agricultural division of Archer Daniels Midland for $1.4 billion. The acquisition aimed to expand Mosaic's product portfolio and strengthen its position in the global agricultural micronutrients market.
  • In 2021, Compass Minerals International Inc. launched a new range of micronutrient fertilizers called Protassium+. The product is a sulfate of potash that is fortified with micronutrients and is suitable for a wide range of crops, including fruits, vegetables, and grains.

Agricultural Micronutrients Market Segmentation:

By Type Outlook: 

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

By Form Outlook: 

  • Chelated
  • Non-Chelated

By Crop Type Outlook: 

  • Cereals & Grains
  • Fruits & Vegetables
  • Oilseeds & Pulses
  • Others

 

Key Regional Markets Covered in the Report:

North America (U.S.A., Canada, Mexico)

Europe (Italy, U.K., Germany, France, Rest of Europe)

Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)

Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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