Crop Micronutrient market size was around USD 8.4 billion in 2021. It is expected to grow at a CAGR of 8.4% to reach USD 12.58 billion by 2026.
Crop micronutrients are significant elements that a crop requires for its growth. Unavailability of micronutrients hamper the critical functions of crops, leading to abnormality, reduced yield and slow growth. This market is growing in accordance with the rising soil deficiency and growing demand for biofuels. Moreover, the growing need for effective fertilizers owing to poor soil quality and high demand for quality and uniform yield because of the growing population worldwide are anticipated to drive the growth of the market. Inadequate awareness among farmers and critical application doses of micronutrients are the primary factors restraining market growth.
Crop Micronutrient Market – By Type:
Zinc
The zinc category is projected to lead the agricultural micronutrients market in terms of value. The demand for zinc is robust in the Asia Pacific region, as China and other emerging economies in this region prefer zinc fertilizers because they enhance crop yield and provide economic benefits to the farmers due to their low prices. The deficiency of zinc in the soil decreases the productivity and growth of agricultural crops. Therefore, zinc is added in standard fertilizers and premixes in many emerging economies like China and India which drive the use of zinc as a micronutrient.
Crop Micronutrient Market – By Crop Type:
Cereals are further sub-segmented into Rice, Wheat, and Corn. Oilseeds and pulses are further sub-segmented into Soybeans, Dry Peas, Beans and Others (canola and sunflower). Fruits and vegetables are further sub-segmented into Brassica, Cucurbit, Leafy, Root-bulb, and Solanaceae.
Crop Micronutrient Market – By Application:
Crop Micronutrient Market – By Form:
Chelated is further sub-segmented into Ethylenediaminetetraacetic acid (EDTA), Ethylenediamine Di-2-hydroxyphenyl acetate (EDDHA) and Diethylene triamine pentaacetic acid (DTPA).
Crop Micronutrient Market – By Regions:
The Asia Pacific region leads the agricultural micronutrients market and is estimated to grow at the highest CAGR in the aforementioned forecast period, both in terms of value and volume. India is estimated to be the fastest-growing market. In India, the increasing awareness towards the benefits of micronutrients among consumers drives the market. It is a leading producer of several other agricultural commodities like fresh fruits, cashew nuts, spices, pulses, coconut, and tea. It is also one of the leading producers of cereals like sorghum and pearl millet. The country ranks second in terms of agricultural production globally.
Key Players:
Key players in the market include Yara International (Norway), The Mosaic Company (US), Land O’Lakes (US), BASF (Germany), Dow Chemical (US), Agrium (Canada), AkzoNobel (Netherlands), Helena Chemical Company (US), and Nufarm (Australia).
1. Introduction
1.1 Market Definition
1.2 Study
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Crop Type
5.1.1 Introduction
5.1.2 Cereals
5.1.3 Oilseeds & Pulses
5.1.4 Fruits & Vegetables
5.1.5 Others
5.1.6 Y-o-Y Growth Analysis, By Crop Type
5.1.7 Market Attractiveness Analysis, By Crop Type
5.1.8 Market Share Analysis, By Crop Type
5.2 Type
5.2.1 Introduction
5.2.2 Zinc
5.2.3 Copper
5.2.4 Iron
5.2.5 Manganese
5.2.6 Boron
5.2.7 Molybdenum
5.2.8 Others
5.2.8.1 Nickel
5.2.8.2 Chloride
5.2.9 Y-o-Y Growth Analysis, By Type
5.2.10 Market Attractiveness Analysis, By Type
5.2.11 Market Share Analysis, By Type
5.3 Application
5.3.1 Introduction
5.3.2 Soil
5.3.3 Foliar
5.3.4 Fertigation
5.3.5 Others
5.3.5.1 Seed Treatment
5.3.5.2 Hydroponics
5.3.6 Y-o-Y Growth Analysis, By Application
5.3.7 Market Attractiveness Analysis, By Application
5.3.8 Market Share Analysis, By Application
5.4 Form
5.4.1 Introduction
5.4.2 Chelated
5.4.2.1 Ethylenediaminetetraacetic Acid (EDTA)
5.4.2.2 Ethylenediamine Di-2-Hydroxyphenyl Acetate (EDDHA)
5.4.2.3 Diethylene Triamine Pentaacetic Acid (DTPA)
5.4.2.4 Others
5.4.3 Non-Chelated
5.4.4 Y-o-Y Growth Analysis, By Form
5.4.5 Market Attractiveness Analysis, By Form
5.4.6 Market Share Analysis, By Form
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Crop Type
6.1.3.3 By Type
6.1.3.4 By Application
6.1.3.5 By Form
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Crop Type
6.1.4.3 By Type
6.1.4.4 By Application
6.1.4.5 By Form
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Crop Type
6.1.5.3 By Type
6.1.5.4 By Application
6.1.5.5 By Form
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
