Crop Micronutrients Global Market Report 2024

Description

“Crop Micronutrients Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on crop micronutrients market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for crop micronutrients? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The crop micronutrients market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Type: Zinc; Boron; Iron; Manganese; Molybdenum; Copper; Other Types
2) By Crop Type: Cereals & Grains; Fruits & Vegetables; Oilseeds & Pulses; Other Cropr
3) By Application: Fertigation; Soil; Foliar; Other Applications
Companies Mentioned: BASF SE; Nutrien Ltd; Yara International ASA; The Mosaic Company; DowDuPont Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Crop micronutrients refer to small amounts of vital components used by plants. These are the essential plant nutrients that are present in tissue in minute amounts but are crucial for the growth and development of plants. Without these minerals, the nutrition of the plants would be affected, perhaps resulting in decreased plant yield.

The main type of crop micronutrients market are zinc., boron, iron, manganese, molybdenum, copper, and others. Zinc refers to a trace mineral and is an essential micronutrient for plant life. Zinc is a recommended micronutrient in fertilizer programs for the production of corn, sweet corn, and edible beans. The various crop type includes cereals & grains, fruits & vegetables, oilseeds & pulses, and other. These are used in fertigation, soil, foliar, and others.

The crop micronutrients market research report is one of a series of new reports from The Business Research Company that provides crop micronutrients market statistics, including crop micronutrients industry global market size, regional shares, competitors with market share, detailed market segments, market trends and opportunities, and any further data you may need to thrive in the crop micronutrients industry. This crop micronutrients market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The crop micronutrients market size has grown rapidly in recent years. It will grow from $6. 91 billion in 2023 to $7. 6 billion in 2024 at a compound annual growth rate (CAGR) of 10. 1%. The growth in the historic period can be attributed to growing population, depleting soil nutrients, awareness and education, government initiatives.

The crop micronutrients market size is expected to see rapid growth in the next few years. It will grow to $11. 22 billion in 2028 at a compound annual growth rate (CAGR) of 10. 2%. The growth in the forecast period can be attributed to precision agriculture, climate change concerns, organic farming trends, global food security concerns, consumer awareness. Major trends in the forecast period include research and development, biological micronutrient, customized micronutrient blends, nano-fertilizers, digital agriculture integration, collaboration for innovation, focus on secondary and micro-nutrients, climate-smart agriculture.

Developing soil micronutrient deficit is expected to propel the growth of the crop micronutrient market going forward. Micronutrient deficiency is the absence of vital vitamins and minerals that the body needs in minute amounts for healthy growth and development. Micronutrients are vital to plant nutrients that are present in tiny levels and aid in boosting the growth of new plants. According to a report published by the Center for Science and Environment (CSE) India, in 2022, There was nitrogen deficiency in 90% of the soil samples collected from 27 states. 85% of soil samples are deficient in organic carbon. Also, 15% contain low levels of organic carbon, and 49% of soil samples have low levels of organic carbon. Therefore, the developing soil micronutrient deficit is driving the growth of the crop micronutrient market.

The growing global population is expected to boost the growth of the crop micronutrients market going forward. The global population refers to the total number of people living on Earth at a given point in time. The rising global population necessitates increased food production, placing farmers under pressure to enhance crop yields and productivity. This demand for higher agricultural output drives the need for micronutrient solutions, as micronutrients are essential for plant growth and can significantly boost crop yields to meet the growing food requirements of the expanding population. For instance, in July 2022, according to a report published by the United Nations (UN), a US-based intergovernmental organization, the global population is expected to reach approximately 8. 5 billion by 2030. By 2050, it is projected to increase to 9. 7 billion. Subsequently, there may be a peak population of around 10. 4 billion individuals during the 2080s. Therefore, the growing global population is driving the growth of the crop micronutrients market.

Product development is a key trend gaining popularity in the crop micronutrient market. Major companies operating in the market are focused on product development to strengthen their position in the market. For Instance, in September 2021, Coromandel International, an India-based manufacturer of fertilizers, pesticides, and speciality nutrients, launched the product GroShakti Plus. This product was manufactured using EnPhos Technology and Zincated technology. EnPho technology enables phosphorous available to the crop and ensures better root development along with Zinc which enables plant growth and improves disease resistance.

Major companies operating in the crop micronutrient market are developing innovative products such as granular micronutrient solutions to meet larger customer bases, more sales, and increase revenue. Granular micronutrient solutions refer to a type of agricultural input that provides essential micronutrients to plants in a granular form. For instance, in February 2023, Andersons Inc., a US-based agriculture company, launched MicroMark DG. These specially designed plant nutrient products utilize dispersing granule (DG) technology, which produces uniformly round granules, facilitating simpler mixing and even spreading, while notably enhancing their effectiveness. The Andersons' DG technology ensures that these granules disintegrate in the soil, breaking down into numerous sub-particles, thus increasing coverage and nutrient availability to crops. MicroMark DG products find applications in agricultural settings where dry fertilizer is employed, serving as a versatile option for dry starter applications, dry broadcast, strip-tilling, side dressing, and catering to various crop types, including row crops, vegetables, horticultural plants, and fruit trees.

In April 2021, Hydrofarm, a US-based manufacturer of hydroponics equipment and supplies, acquired Heavy 16 for a $78. 1 Million deal amount. With this acquisition, Hydrofarm aims to strengthen its position in the market. Hydrofarm will be able to expand its portfolio of innovative and proprietary products in categories of nutrients, climate control, and others. Heavy 16 is a US-based manufacturer of professional plant nutrients.

Major companies operating in the in the crop micronutrients market report are BASF SE, Nutrien Ltd, Yara International ASA, The Mosaic Company, DowDuPont Inc., Corteva Agriscience, Nufarm Ltd, Haifa Group, Compass Minerals International Inc., Coromandel International Limited, Sapec Agro Business, Valagro SpA, ATP Nutrition, Stoller Enterprises Inc., Micromix Plant Health Limited, FMC Corporation, Helena Agri-Enterprises LLC, Verdesian Life Sciences LLC, K+S Aktiengesellschaft, Haifa Chemicals Ltd., Sociedad Quimica y Minera de S. A, Brandt Consolidated Inc., Omex Agrifluids Ltd., Bio Huma Netics Inc., Nutri-Tech Solutions Pty Ltd., AgroLiquid, Plant Health Care plc, Loveland Products Inc., Marrone Bio Innovations Inc.

Asia-Pacific was the largest region in the crop micronutrients market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the crop micronutrients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the crop micronutrients market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The crop micronutrient market consists of sales ofmolybdenum, chlorine, and nickel. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The market value includes the value of related goods sold by the service provider or included within the service offering.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r10275

1. Executive Summary

2. Crop Micronutrients Market Characteristics

3. Crop Micronutrients Market Trends And Strategies

4. Crop Micronutrients Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Crop Micronutrients Market Size and Growth

5.1. Global Crop Micronutrients Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Crop Micronutrients Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Crop Micronutrients Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Crop Micronutrients Market Segmentation

6.1. Global Crop Micronutrients Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Zinc
Boron
Iron
Manganese
Molybdenum
Copper
Other Types
6.2. Global Crop Micronutrients Market, Segmentation By Crop Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Cereals & Grains
Fruits & Vegetables
Oilseeds & Pulses
Other Cropr
6.3. Global Crop Micronutrients Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Fertigation
Soil
Foliar
Other Applications

7. Crop Micronutrients Market Regional And Country Analysis

7.1. Global Crop Micronutrients Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Crop Micronutrients Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Crop Micronutrients Market

8.1. Asia-Pacific Crop Micronutrients Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Crop Micronutrients Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Crop Micronutrients Market, Segmentation By Crop Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8. 4. Asia-Pacific Crop Micronutrients Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Crop Micronutrients Market

9.1. China Crop Micronutrients Market Overview
9.2. China Crop Micronutrients Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Crop Micronutrients Market, Segmentation By Crop Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9. 4. China Crop Micronutrients Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Crop Micronutrients Market

10.1. India Crop Micronutrients Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Crop Micronutrients Market, Segmentation By Crop Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Crop Micronutrients Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Crop Micronutrients Market

11.1. Japan Crop Micronutrients Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.2. Japan Crop Micronutrients Market, Segmentation By Crop Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Crop Micronutrients Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Crop Micronutrients Market

12.1. Australia Crop Micronutrients Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Crop Micronutrients Market, Segmentation By Crop Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Crop Micronutrients Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Crop Micronutrients Market

13.1. Indonesia Crop Micronutrients Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Crop Micronutrients Market, Segmentation By Crop Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Crop Micronutrients Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Crop Micronutrients Market

14.1. South Korea Crop Micronutrients Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.2. South Korea Crop Micronutrients Market, Segmentation By Crop Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Crop Micronutrients Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Crop Micronutrients Market

15.1. Western Europe Crop Micronutrients Market Overview
15.2. Western Europe Crop Micronutrients Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Crop Micronutrients Market, Segmentation By Crop Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15. 4. Western Europe Crop Micronutrients Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Crop Micronutrients Market

16.1. UK Crop Micronutrients Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Crop Micronutrients Market, Segmentation By Crop Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Crop Micronutrients Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Crop Micronutrients Market

17.1. Germany Crop Micronutrients Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Crop Micronutrients Market, Segmentation By Crop Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Crop Micronutrients Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Crop Micronutrients Market

18. 5. France Crop Micronutrients Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. 6. France Crop Micronutrients Market, Segmentation By Crop Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. 7. France Crop Micronutrients Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Crop Micronutrients Market

19. 9. Italy Crop Micronutrients Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.10. Italy Crop Micronutrients Market, Segmentation By Crop Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.11. Italy Crop Micronutrients Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Crop Micronutrients Market

20.13. Spain Crop Micronutrients Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.14. Spain Crop Micronutrients Market, Segmentation By Crop Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.15. Spain Crop Micronutrients Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Crop Micronutrients Market

21.1. Eastern Europe Crop Micronutrients Market Overview
21.2. Eastern Europe Crop Micronutrients Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Crop Micronutrients Market, Segmentation By Crop Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21. 4. Eastern Europe Crop Micronutrients Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Crop Micronutrients Market

22.1. Russia Crop Micronutrients Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Crop Micronutrients Market, Segmentation By Crop Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Crop Micronutrients Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Crop Micronutrients Market

23.1. North America Crop Micronutrients Market Overview
23.2. North America Crop Micronutrients Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Crop Micronutrients Market, Segmentation By Crop Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23. 4. North America Crop Micronutrients Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Crop Micronutrients Market

24.1. USA Crop Micronutrients Market Overview
24.2. USA Crop Micronutrients Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Crop Micronutrients Market, Segmentation By Crop Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24. 4. USA Crop Micronutrients Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Crop Micronutrients Market

25.1. Canada Crop Micronutrients Market Overview
25.2. Canada Crop Micronutrients Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Crop Micronutrients Market, Segmentation By Crop Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25. 4. Canada Crop Micronutrients Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Crop Micronutrients Market

26.1. South America Crop Micronutrients Market Overview
26.2. South America Crop Micronutrients Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Crop Micronutrients Market, Segmentation By Crop Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26. 4. South America Crop Micronutrients Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Crop Micronutrients Market

27.1. Brazil Crop Micronutrients Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Crop Micronutrients Market, Segmentation By Crop Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Crop Micronutrients Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Crop Micronutrients Market

28.1. Middle East Crop Micronutrients Market Overview
28.2. Middle East Crop Micronutrients Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Crop Micronutrients Market, Segmentation By Crop Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28. 4. Middle East Crop Micronutrients Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Crop Micronutrients Market

29.1. Africa Crop Micronutrients Market Overview
29.2. Africa Crop Micronutrients Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Crop Micronutrients Market, Segmentation By Crop Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29. 4. Africa Crop Micronutrients Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Crop Micronutrients Market Competitive Landscape And Company Profiles

30.1. Crop Micronutrients Market Competitive Landscape
30.2. Crop Micronutrients Market Company Profiles
- 30.2.1. BASF SE
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1. 4. Financial Performance
- 30.2.2. Nutrien Ltd
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2. 4. Financial Performance
- 30.2.3. Yara International ASA
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3. 4. Financial Performance
- 30.2. 4. The Mosaic Company
  - 30.2. 4.1. Overview
  - 30.2. 4.2. Products and Services
  - 30.2. 4.3. Strategy
  - 30.2. 4. 4. Financial Performance
- 30.2. 5. DowDuPont Inc.
  - 30.2. 5.1. Overview
  - 30.2. 5.2. Products and Services
  - 30.2. 5.3. Strategy
  - 30.2. 5. 4. Financial Performance

31. Global Crop Micronutrients Market Competitive Benchmarking

32. Global Crop Micronutrients Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Crop Micronutrients Market

34. Crop Micronutrients Market Future Outlook and Potential Analysis

34.1 Crop Micronutrients Market In 2028 - Countries Offering Most New Opportunities
34.2 Crop Micronutrients Market In 2028 - Segments Offering Most New Opportunities
34. 3 Crop Micronutrients Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35. 4. Research Inquiries
35. 5. The Business Research Company
35. 6. Copyright And Disclaimer