Brazil Micronutrient Fertilizer Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028

The Brazil Micronutrient Fertilizer Market is segmented Market Snapshot , Product ( Boron, Copper, Iron, Manganese, Molybdenum, Zinc, Others ) , Application Mode ( Fertigation, Foliar, Soil ) and Crop Type ( Field Crops, Horticultural Crops, Turf & Ornamental )

Market Snapshot

https://s3.mordorlabs.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period: 2016 - 2028
https://s3.mordorlabs.com/base%20year/1629296433432_test~base_year_base_year.svg Base Year: 2021
https://s3.mordorlabs.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Largest Share by Product: Zinc
https://s3.mordorlabs.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Fastest Growing by Product: Manganese
https://s3.mordorlabs.com/cagr/1629296433433_test~cagr_cagr.svg CAGR: 8.07 %

Key Players

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Market Overview

The Brazil Micronutrient Fertilizer Market stood at 129.41 million USD in 2022 and is projected to register a CAGR of 8.07% to reach 206.13 million USD in 2028.

  • Largest Segment by Type - Zinc : Zinc is the most prominently used micronutrient in the country due to its widespread deficiencies and to increase the yield of the crops without which, it is difficult.
  • Fastest growing segment by Type - Manganese : Manganese availability in soil decreases with rising pH and is less mobile in the plants thus affecting the young parts of the plant which requires application of fertilizer.
  • Largest Segment by Crop Type - Field Crops : The domination of field crops in Fertilizers market is mainly due to its large cultivation area in the country. They account for more than 96% of total crop area.
  • Largest segment by Application Mode - Soil : It is a conventional way of fertilizer application and can be applied without any equipment. This method of application improves both plant health and soil fertility.

Scope of the Report

Boron, Copper, Iron, Manganese, Molybdenum, Zinc, Others are covered as segments by Product. Fertigation, Foliar, Soil are covered as segments by Application Mode. and Field Crops, Horticultural Crops, Turf & Ornamental are covered as segments by Crop Type.
Product
Boron
Copper
Iron
Manganese
Molybdenum
Zinc
Others
Application Mode
Fertigation
Foliar
Soil
Crop Type
Field Crops
Horticultural Crops
Turf & Ornamental

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Key Market Trends

Why is Zinc the largest segment by Product?

  • Manganese is the most consumed micronutrient fertilizer in Brazil in terms of volume and accounted for 33.0% of the total micronutrient consumption in 2021, with a volume of 17.5k metric tons. This is because the agricultural soils in Brazil are deficient in manganese micronutrient making it the most consumed micronutrient fertilizer in the country
  • Zinc is the second most consumed micronutrient fertilizer in the country and accounts for a share of 31.0% in 2021, with a with a consumption of 16.5k metric tons in the same year. This is attributed to its importance in increasing the yield of the crops in the available land.
  • Iron micronutrient accounts for 19.0% share in terms of volume consumption and 18.0% in terms of market value. It is an important micronutrient aiding the chlorophyll formation in plants and is an important part of many plant-based enzymes.
  • The market value for micronutrient fertilizers in 2021 was USD 128.3 million with a volume consumption of 53.5 thousand metric ton in the same year. It is noticeable that the consumption volume of these fertilizers has stayed undeterred by the price fluctuation even after the pandemic when the global fertilizer prices rose in 2021. Its, consumption has increased steadily from 44.6 thousand metric ton in 2017 to 53.5 thousand metric ton in 2021.
  • However, the market value has seen a dip in the year 2020 due to COVID-19-associated supply chain disruptions. Moreover, Brazil imports 85.0% of the fertilizers consumed in the country, the largest supplier being Russia. So, the market majorly depends on international prices, supply and demand.
  • Nevertheless, the market for micronutrient fertilizers is projected to grow during the forecast period, due to the increased need for higher productivity and quality of the produce.

Competitive Landscape

The Brazil Micronutrient Fertilizer Market is fairly consolidated, with the top five companies occupying 92.30%. The major players in this market are EuroChem, K+S AKTIENGESELLSCHAFT, Nortox, The Mosaic Company and Yara brasil (sorted alphabetically).

Major Players

  1. EuroChem

  2. K+S AKTIENGESELLSCHAFT

  3. Nortox

  4. The Mosaic Company

  5. Yara brasil

*Disclaimer: Major Players are sorted alphabetically

Market Developments

  • March 2022: EuroChem Group announced that it has completed the purchase of the share holding control of Brazilian distributor Fertilizantes Heringer SA, with 51.48% of the shares, further strengthening its production and distribution capacity in Brazil.
  • August 2021: COMPO EXPERT got merged into Groupa Azoty a largest nitrogen fertilizer manufacturing company in europe to devolop their business.
  • January 2021: ICL group Ltd acquired Fertiláqua, one of Brazil's leading specialty plant nutrition companies to increase the sales of its controlled-released fertilizers, organic fertilizers and other specialty plant nutrition products.

Table of Contents

  1. 1. EXECUTIVE SUMMARY & KEY FINDINGS

  2. 2. REPORT OFFERS

  3. 3. INTRODUCTION

    1. 3.1 Study Assumptions & Market Definition

    2. 3.2 Scope of the Study​

    3. 3.3 Research Methodology

  4. 4. KEY INDUSTRY TRENDS

    1. 4.1 Acreage Of Major Crop Types

    2. 4.2 Average Nutrient Application Rates

    3. 4.3 Regulatory Framework

    4. 4.4 Value Chain & Distribution Channel Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product

      1. 5.1.1 Boron

      2. 5.1.2 Copper

      3. 5.1.3 Iron

      4. 5.1.4 Manganese

      5. 5.1.5 Molybdenum

      6. 5.1.6 Zinc

      7. 5.1.7 Others

    2. 5.2 Application Mode

      1. 5.2.1 Fertigation

      2. 5.2.2 Foliar

      3. 5.2.3 Soil

    3. 5.3 Crop Type

      1. 5.3.1 Field Crops

      2. 5.3.2 Horticultural Crops

      3. 5.3.3 Turf & Ornamental

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Key Strategic Moves

    2. 6.2 Market Share Analysis

    3. 6.3 Company Landscape

    4. 6.4 Company Profiles

      1. 6.4.1 BMS Micro-Nutrients NV

      2. 6.4.2 compo-expert

      3. 6.4.3 EuroChem

      4. 6.4.4 Haifa Negev technologies LTD

      5. 6.4.5 Inquima LTDA

      6. 6.4.6 Israel Chemicals Ltd

      7. 6.4.7 K+S AKTIENGESELLSCHAFT

      8. 6.4.8 Nortox

      9. 6.4.9 The Mosaic Company

      10. 6.4.10 Yara brasil

  7. 7. KEY STRATEGIC QUESTIONS FOR FERTILIZER CEOS

  8. 8. APPENDIX

    1. 8.1 Global Overview

      1. 8.1.1 Overview

      2. 8.1.2 Porter’s Five Forces Framework

      3. 8.1.3 Global Value Chain Analysis

      4. 8.1.4 Market Dynamics (DROs)

    2. 8.2 Sources & References

    3. 8.3 List of Tables & Figures

    4. 8.4 Primary Insights

    5. 8.5 Data Pack

    6. 8.6 Glossary of Terms

List of Tables & Figures

    Figure 1:  

    BRAZIL MARKET, AREA YOY GROWTH RATE, 2016 - 2021

    Figure 2:  

    BRAZIL MARKET, AREA YOY GROWTH RATE, 2016 - 2021

    Figure 3:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, VOLUME, METRIC TON, 2016 - 2028

    Figure 4:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, VALUE, USD, 2016 - 2028

    Figure 5:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, VOLUME, METRIC TON, 2016 - 2028

    Figure 6:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, VALUE, USD, 2016 - 2028

    Figure 7:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY PRODUCT, 2016 - 2028

    Figure 8:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY PRODUCT, 2016 - 2028

    Figure 9:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, BORON, METRIC TON, 2016 - 2028

    Figure 10:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, BORON, USD, 2016 - 2028

    Figure 11:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 12:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, COPPER, METRIC TON, 2016 - 2028

    Figure 13:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, COPPER, USD, 2016 - 2028

    Figure 14:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 15:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, IRON, METRIC TON, 2016 - 2028

    Figure 16:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, IRON, USD, 2016 - 2028

    Figure 17:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 18:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, MANGANESE, METRIC TON, 2016 - 2028

    Figure 19:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, MANGANESE, USD, 2016 - 2028

    Figure 20:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 21:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, MOLYBDENUM, METRIC TON, 2016 - 2028

    Figure 22:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, MOLYBDENUM, USD, 2016 - 2028

    Figure 23:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 24:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, ZINC, METRIC TON, 2016 - 2028

    Figure 25:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, ZINC, USD, 2016 - 2028

    Figure 26:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 27:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, OTHERS, METRIC TON, 2016 - 2028

    Figure 28:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, OTHERS, USD, 2016 - 2028

    Figure 29:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 30:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, BY APPLICATION MODE, VOLUME, METRIC TON, 2016 - 2028

    Figure 31:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, BY APPLICATION MODE, VALUE, USD, 2016 - 2028

    Figure 32:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY APPLICATION MODE, 2016 - 2028

    Figure 33:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY APPLICATION MODE, 2016 - 2028

    Figure 34:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, BY APPLICATION MODE, FERTIGATION, METRIC TON, 2016 - 2028

    Figure 35:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, BY APPLICATION MODE, FERTIGATION, USD, 2016 - 2028

    Figure 36:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, BY APPLICATION MODE, FOLIAR, METRIC TON, 2016 - 2028

    Figure 37:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, BY APPLICATION MODE, FOLIAR, USD, 2016 - 2028

    Figure 38:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, BY APPLICATION MODE, SOIL, METRIC TON, 2016 - 2028

    Figure 39:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, BY APPLICATION MODE, SOIL, USD, 2016 - 2028

    Figure 40:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, BY CROP TYPE, VOLUME, METRIC TON, 2016 - 2028

    Figure 41:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, BY CROP TYPE, VALUE, USD, 2016 - 2028

    Figure 42:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 43:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 44:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, BY CROP TYPE, FIELD CROPS, METRIC TON, 2016 - 2028

    Figure 45:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, BY CROP TYPE, FIELD CROPS, USD, 2016 - 2028

    Figure 46:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY PRODUCT, 2016 - 2028

    Figure 47:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, BY CROP TYPE, HORTICULTURAL CROPS, METRIC TON, 2016 - 2028

    Figure 48:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, BY CROP TYPE, HORTICULTURAL CROPS, USD, 2016 - 2028

    Figure 49:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY PRODUCT, 2016 - 2028

    Figure 50:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, BY CROP TYPE, TURF & ORNAMENTAL, METRIC TON, 2016 - 2028

    Figure 51:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, BY CROP TYPE, TURF & ORNAMENTAL, USD, 2016 - 2028

    Figure 52:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY PRODUCT, 2016 - 2028

    Figure 53:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021

    Figure 54:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021

    Figure 55:  

    BRAZIL MICRONUTRIENT FERTILIZER MARKET SHARE(%), BY MAJOR PLAYERS, 2021

Market Definition

  • AVERAGE NUTRIENT APPLICATION RATE - This refers to the average volume of nutrient consumed per hectare of farmland in each country.
  • CROP TYPES COVERED - Field Crops: Cereals, Pulses, Oilseeds, Fiber Crops, and Forage Crops, Horticulture: Fruits, Vegetables, Plantation Crops and Spices, Turf Grass and Ornamentals
  • MARKET ESTIMATION LEVEL - Market Estimations for various types of fertilizers has been done at the product-level and not at the nutrient-level.
  • NUTRIENT TYPES COVERED - Micronutients: Zn, Mn, Cu, Fe, Mo, B, and Others

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Research Methodology

Mordor Intelligence follows a four-step methodology in all our reports.

  • Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
  • Step-2: Build a Market Model: Market-size estimations for the forecast years are in nominal terms. Inflation is not a part of the pricing, and the average selling price (ASP) is kept constant throughout the forecast period for each country.
  • Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
  • Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms

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Frequently Asked Questions

The Brazil Micronutrient Fertilizer Market market is studied from 2016 - 2028.

The Brazil Micronutrient Fertilizer Market stood at 129.41 million USD in 2022 and is projected to register a CAGR of 8.07% to reach 206.13 million USD in 2028.

Zinc is the most prominently used micronutrient in the country due to its widespread deficiencies and to increase the yield of the crops without which, it is difficult.

Manganese availability in soil decreases with rising pH and is less mobile in the plants thus affecting the young parts of the plant which requires application of fertilizer.

The domination of field crops in Fertilizers market is mainly due to its large cultivation area in the country. They account for more than 96% of total crop area.

It is a conventional way of fertilizer application and can be applied without any equipment. This method of application improves both plant health and soil fertility.

EuroChem,K+S AKTIENGESELLSCHAFT,Nortox,The Mosaic Company and Yara brasil. are the major companies operating in Brazil Micronutrient Fertilizer Market.