The global agricultural micronutrients market revenue was valued at USD 4.87 billion in 2023 and is expected to grow from USD 5.19 billion in 2024 to USD 9.03 billion by 2032, reflecting a compound annual growth rate (CAGR) of 6.92% during the forecast period. In the U.S., the market is anticipated to experience notable growth, reaching an estimated value of USD 1.88 billion by 2032, driven by the extensive application of micronutrients on large-acre crops.
Agricultural micronutrients, including zinc, boron, iron, molybdenum, chloride, nickel, copper, and manganese, are essential for addressing micronutrient deficiencies in soil. These nutrients are available in both chelated and non-chelated forms and can be applied to various crops such as cereals, pulses, oilseeds, fruits, vegetables, and others. Application methods include soil treatment, foliar spraying, and fertigation, ensuring efficient nutrient delivery to support crop growth and yield.
List of Key Players Mentioned in the Report:
Information Source:- https://www.fortunebusinessinsights.com/industry-reports/agricultural-micronutrients-market-101607
Segmentation:
Zinc Segment to Gain Traction Due to Increased Awareness of Deficiency
The market is segmented by type into zinc, iron, boron, molybdenum, manganese, and others. Among these, the zinc segment is expected to witness notable growth during the forecast period, primarily due to the rising awareness of zinc deficiency in various regions.
Soil Segment to Expand Significantly with Technological Investments