| Study Period | 2019 - 2032 |
| 2024 Market Size | USD 4.8 Billion |
| 2025 Market Size | USD 5.2 Billion |
| 2032 Forecast | USD 8.9 Billion |
| Growth Rate(CAGR) | 8% |
| Largest Region | APAC |
| Fastest Growing Region | APAC |
| Nature of the Market | Fragmented |
| Largest Application Category | Soil |
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The agricultural micronutrients market size stood at USD 4.8 billion in 2024, and it is expected to grow at a CAGR of 8.0% during 2025–2032, to reach USD 8.9 billion by 2032.
This is attributed to the deteriorating soil quality in agricultural fields. Nutrients are essential for plant growth and metabolic processes. By fortifying, enlarging, and supplying roots by supplying them organic chemicals and proteins, aids in the development of roots. It also improves the immunity of the plant. During the forecast period, all of these factors will accelerate market growth.
The market is also expanding as a result of factors, such as increasing public knowledge about the advantages of nutrients for crop productivity and yields. Additionally, the increase in these deficiencies in soil around the world and rising consumer concern about food security will fuel the market expansion over the course of the projected period.
Plants are autotrophic organisms that have the ability to use solar energy to synthesize vital components for their growth and development from macronutrients, carbon dioxide, and water. The absence or low amount of nutrients can affect metabolic and physiological processes of crops, thereby affecting their growth.
Studies and reports by the FAO have reported that the frequent mineral stripping due to routine crop production, have contributed toward the creation of a net micronutrient imbalance in the soil composition.
If the micronutrient deficiencies stated above are transferred to crops, they affect the nutritional quality of food. Furthermore, micronutrient deficiencies pose serious challenges to food security and human health. These risks have contributed to the increase in investments in development of soil management and replenishment technologies. These include evolution of industrial fertilizers, micronutrient supplements, and mixed farming. These factors are likely to contribute toward increasing applications to replenish soil and improve the crop yield.
In 2024, cereals and grains were the largest category in terms of value, contributing a share of 50%. With increasing global population and shrinking arable land, there is an increased pressure to maximize crop yield, primarily, production of cereals and grains from existing farmlands. There is a need to improve productivity, but it is further hindered due to micronutrient deficiencies in plants and correspondingly, bio-magnification in food chain. These factors play a major role in improving plant growth and edaphic qualities of soil, and are thereby, expected to steer the demand in the coming years.
Furthermore, the increasing demand for cereals and grains, which are driven by increasing population and an ever-diversifying nutritional needs of population, is likely to propel the adoption rates for micronutrients thus boost the growth during the forecast period.
The fruits and vegetables category is expected to exhibit the fastest growth over the forecast period, in terms of value. The consumption of fruits and vegetables is increasing, owing to the growing global population, thereby driving the market, as micronutrients are widely used for their optimum growth. In this regard, the growing practice of horticulture is a major drier for the market. As per the Press Information Bureau, India witnessed horticultural production of 351.92 million tonnes in 2022–23, which was 4.74 million tonnes, or 1.37% more than in 2021–22.
These crop types were analyzed:
The soil category accounted for the largest share in 2024. The mode of application through soil is preferred due to the ease of application, low requirement of advanced machinery (such as sprays and drippers), and easy incorporation into fertilizers.
Furthermore, application via soil has a large number of economic advantages to farmlands and agricultural installations by reducing the time taken in in the application process. This is due to relative ease of application in the plants in developmental phase over application in fully-grown plants. Thereby, the application via soil category is likely to be propelled by numerous factors and is expected to also witness growth in the forecast period.
The fertigation category would exhibit the fastest revenue growth in the agricultural micronutrients market during the forecast period, of 9%.
These application modes are covered:
Zinc held the largest share in 2024, of 45%. The demand for zinc is majorly driven by its potential value that helps in increasing plant growth, improving disease control, and increasing crop yield in a wide array of agronomic crops such as rice (Oryza sativa), bean (Phaseolus vulgaris), maize (Zea mays), potato (Solanum tuberosum l.), sorghum (Sorghum bicolor), and soybean (Glycine max). Additionally, research indicates that the rate of protein synthesis and protein content of zinc-deficient plants are lower than zinc-neutral counterparts.
The molybdenum category will witness the fastest growth during the forecast period. This nutrient facilitates and fixation of nitrogen and a number of enzymatic functions in plants. As a result, the consumption of molybdenum is growing in regions that account for high outputs of leguminous crops, such as Brazil, the U.S., India, Canada, and Argentina.
These types have been studied:
The non-chelated category accounted for the largest revenue share in 2024. Non-chelated agricultural micronutrients are more economical than other types, which results in their higher consumption, particularly in countries such as China, India, and Indonesia.
The HBED category is expected to witness the fastest growth, in terms of revenue, during the forecast period, of 10%. This can be attributed to the higher stability of HBED than any other chelating agent and lower sensitivity to ultraviolet (UV) radiation. Additionally, such products do not contain any isomer, and hence the micronutrient content bonded with HBED is always fully available for the plant.
These form factors have been studied:
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Globally, APAC accounted for the largest share, in terms of value, in 2024, of 45%. This can be ascribed to increased application in countries such as India and China. Initiatives by governments and agrochemical manufacturers in these countries are likely to create awareness and augment product adoption among the local farmers. In coherence to same, different departments of government of India have launched numerous policies, such as subsidies on fortified seeds (seeds pre-coated with boron and zinc), initiation of SHCs, and regularization of contract farming. In the long run, these factors are likely to drive demand in the region.
As per a research study by the World Bank, India has highest levels of zinc and iron deficiency levels, globally. Further the report predicts, rising levels of carbon dioxide from human actions are making crops like wheat and rice less nutritious and this could result in 175 million population becoming zinc deficient and 122 million protein deficient by 2050, as per a research led by Harvard T.H. Chan School of Public Health. Around 50 million people in India are expected to become zinc deficient by 2050.
The addition of micronutrients to the soil are argued to counter these deficiencies. Recent regulations and government initiatives aimed at educating farmers and inculcating the addition of such nutrients to their farming practices is expected to encourage adoption rates of these chemicals in the region. In order to provide wholesome plant nutrition, the APAC region is expected to rely on these supplements.
The regions and countries analyzed for this report include:
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