India Micronutrient Fertilizer Market Size
Icons | Lable | Value |
---|---|---|
Study Period | 2016 - 2028 | |
Market Size (2024) | USD 701.33 Million | |
Market Size (2028) | USD 971.78 Million | |
Largest Share by Product | Zinc | |
CAGR (2024 - 2028) | 8.50 % | |
Fastest Growing by Product | Boron | |
Major Players |
||
*Disclaimer: Major Players sorted in no particular order |
India Micronutrient Fertilizer Market Analysis
The India Micronutrient Fertilizer Market size is estimated at USD 701.33 million in 2024, and is expected to reach USD 971.78 million by 2028, growing at a CAGR of 8.5% during the forecast period (2024-2028).
- Largest Segment by Type - Zinc : Zinc deficiency in soils is a wide spread issue in the country. The staples like maize and wheat cultivation demand more zinc micronutrient fertilizer application.
- Fastest growing segment by Type - Boron : Boron deficient soils are majorly observed in the Eastern and North-Eastern parts of the country. B application can increase the food production and ensure food security.
- 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 95% 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.
India Micronutrient Fertilizer Market Trends
This section covers the major market trends shaping the India Micronutrient Fertilizer Market according to our research experts:
Zinc is the largest segment by Product.
- Zinc accounts for 59.0% of the total micronutrient fertilizer consumption in India and is the largest consumed micronutrient. This share is attributed to the widespread deficiency of zinc in cropping soils. For instance, the soils of Maharashtra, Karnataka, and Andhra Pradesh are deficient in Zn by 83%, 73%, and 58%, respectively (ICRISAT).
- Iron is the second most consumed micronutrient fertilizer and accounts for 16.0% of micronutrient consumption in the country. The market for iron fertilizer was valued at USD 84.0 million in 2021, with a volume of 56.1 thousand metric tons.
- Manganese is the third most consumed micronutrient. It accounted for 8.0% of micronutrient consumption in the country, with a value of USD 40.1 million in 2021. The volume consumption of Mn fertilizer was 46.7k metric tons in the same year.
- There has been a significant increase in the volume consumption of micronutrients, from 252.8k metric tons in 2017 to 271.8k metric tons in 2021, due to the rising demand for micronutrients in the country with increasing awareness among farmers about their importance in enhancing crop productivity. However, the declining prices of this fertilizer, coupled with supply chain and international trade disruptions, have been causing fluctuations in the market value since 2017.
- The demand for micronutrient fertilizers in the country is anticipated to grow during the forecast period due to the need for higher crop yields and productivity and increasing soil micronutrient deficiencies. The advent of advanced chelated fertilizers, which are more stable when applied to the soil, may further boost the growth of micronutrients.
India Micronutrient Fertilizer Industry Overview
The India Micronutrient Fertilizer Market is fairly consolidated, with the top five companies occupying 81.73%. The major players in this market are Chambal Fertilizers & Chemicals Ltd, Coromandel International Ltd., Deepak fertilizers & Petrochemicals Corporation Ltd, Indian Farmers Fertiliser Cooperative Limited and Yara India Ltd. (sorted alphabetically).
India Micronutrient Fertilizer Market Leaders
Chambal Fertilizers & Chemicals Ltd
Coromandel International Ltd.
Deepak fertilizers & Petrochemicals Corporation Ltd
Indian Farmers Fertiliser Cooperative Limited
Yara India Ltd.
*Disclaimer: Major Players sorted in no particular order
India Micronutrient Fertilizer Market News
- September 2021: In September 2021, Coromandel International launched GroShakti Fertilizer. It is a new technology and superior complex fertilizer with EnPhos Technology and Zincated 14-35-14. This grade has a high nutrient percentage and less filler material, because of which it does not hurt the soil mechanism.
- August 2021: COMPO EXPERT got merged into Groupa Azoty a largest nitrogen fertilizer manufacturing company in europe to devolop their business.
- January 2021: Smartchem Technologies Limited, a 100% subsidiary of Deepak Fertilisers and Petrochemicals Corporation Limited (DFPCL) announced its partnership with AgroStar, a leading agri-input e-commerce platform, this partnership will enable delivery of value-added, differentiated fertilisers directly to farmers' doorsteps in Maharashtra & Madhya Pradesh.
India Micronutrient Fertilizer Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
3.1. Study Assumptions & Market Definition
3.2. Scope of the Study
3.3. Research Methodology
4. KEY INDUSTRY TRENDS
4.1. Acreage Of Major Crop Types
4.2. Average Nutrient Application Rates
4.3. Regulatory Framework
4.4. Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION
5.1. Product
5.1.1. Boron
5.1.2. Copper
5.1.3. Iron
5.1.4. Manganese
5.1.5. Molybdenum
5.1.6. Zinc
5.1.7. Others
5.2. Application Mode
5.2.1. Fertigation
5.2.2. Foliar
5.2.3. Soil
5.3. Crop Type
5.3.1. Field Crops
5.3.2. Horticultural Crops
5.3.3. Turf & Ornamental
6. COMPETITIVE LANDSCAPE
6.1. Key Strategic Moves
6.2. Market Share Analysis
6.3. Company Landscape
6.4. Company Profiles
6.4.1. Chambal Fertilizers & Chemicals Ltd
6.4.2. Compo Expert GmbH
6.4.3. Coromandel International Ltd.
6.4.4. Deepak fertilizers & Petrochemicals Corporation Ltd
6.4.5. Haifa Group
6.4.6. Indian Farmers Fertiliser Cooperative Limited
6.4.7. Mangalore Chemicals & Fertilizers Ltd.
6.4.8. Sociedad Química y Minera (SQM)
6.4.9. Yara India Ltd.
6.4.10. Zuari Agro Chemicals Ltd
7. KEY STRATEGIC QUESTIONS FOR FERTILIZER CEOS
8. APPENDIX
8.1. Global Overview
8.1.1. Overview
8.1.2. Porter's Five Forces Framework
8.1.3. Global Value Chain Analysis
8.1.4. Market Dynamics (DROs)
8.2. Sources & References
8.3. List of Tables & Figures
8.4. Primary Insights
8.5. Data Pack
8.6. Glossary of Terms
List of Tables & Figures
- Figure 1:
- INDIA MARKET, AREA YOY GROWTH RATE, 2016 - 2021
- Figure 2:
- INDIA MARKET, AREA YOY GROWTH RATE, 2016 - 2021
- Figure 3:
- INDIA MARKET, VOLUME YOY GROWTH RATE, 2021 - 2021
- Figure 4:
- INDIA MARKET, VOLUME YOY GROWTH RATE, 2021 - 2021
- Figure 5:
- INDIA MICRONUTRIENT FERTILIZER MARKET, VOLUME, METRIC TON, 2016 - 2028
- Figure 6:
- INDIA MICRONUTRIENT FERTILIZER MARKET, VALUE, USD, 2016 - 2028
- Figure 7:
- INDIA MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, VOLUME, METRIC TON, 2016 - 2028
- Figure 8:
- INDIA MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, VALUE, USD, 2016 - 2028
- Figure 9:
- INDIA MICRONUTRIENT FERTILIZER MARKET, VOLUME SHARE(%), BY PRODUCT, 2016 - 2028
- Figure 10:
- INDIA MICRONUTRIENT FERTILIZER MARKET, VALUE SHARE(%), BY PRODUCT, 2016 - 2028
- Figure 11:
- INDIA MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, BORON, METRIC TON, 2016 - 2028
- Figure 12:
- INDIA MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, BORON, USD, 2016 - 2028
- Figure 13:
- INDIA MICRONUTRIENT FERTILIZER MARKET, VALUE SHARE(%), BY CROP TYPE, 2016 - 2028
- Figure 14:
- INDIA MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, COPPER, METRIC TON, 2016 - 2028
- Figure 15:
- INDIA MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, COPPER, USD, 2016 - 2028
- Figure 16:
- INDIA MICRONUTRIENT FERTILIZER MARKET, VALUE SHARE(%), BY CROP TYPE, 2016 - 2028
- Figure 17:
- INDIA MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, IRON, METRIC TON, 2016 - 2028
- Figure 18:
- INDIA MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, IRON, USD, 2016 - 2028
- Figure 19:
- INDIA MICRONUTRIENT FERTILIZER MARKET, VALUE SHARE(%), BY CROP TYPE, 2016 - 2028
- Figure 20:
- INDIA MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, MANGANESE, METRIC TON, 2016 - 2028
- Figure 21:
- INDIA MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, MANGANESE, USD, 2016 - 2028
- Figure 22:
- INDIA MICRONUTRIENT FERTILIZER MARKET, VALUE SHARE(%), BY CROP TYPE, 2016 - 2028
- Figure 23:
- INDIA MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, MOLYBDENUM, METRIC TON, 2016 - 2028
- Figure 24:
- INDIA MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, MOLYBDENUM, USD, 2016 - 2028
- Figure 25:
- INDIA MICRONUTRIENT FERTILIZER MARKET, VALUE SHARE(%), BY CROP TYPE, 2016 - 2028
- Figure 26:
- INDIA MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, ZINC, METRIC TON, 2016 - 2028
- Figure 27:
- INDIA MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, ZINC, USD, 2016 - 2028
- Figure 28:
- INDIA MICRONUTRIENT FERTILIZER MARKET, VALUE SHARE(%), BY CROP TYPE, 2016 - 2028
- Figure 29:
- INDIA MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, OTHERS, METRIC TON, 2016 - 2028
- Figure 30:
- INDIA MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, OTHERS, USD, 2016 - 2028
- Figure 31:
- INDIA MICRONUTRIENT FERTILIZER MARKET, VALUE SHARE(%), BY CROP TYPE, 2016 - 2028
- Figure 32:
- INDIA MICRONUTRIENT FERTILIZER MARKET, BY APPLICATION MODE, VOLUME, METRIC TON, 2016 - 2028
- Figure 33:
- INDIA MICRONUTRIENT FERTILIZER MARKET, BY APPLICATION MODE, VALUE, USD, 2016 - 2028
- Figure 34:
- INDIA MICRONUTRIENT FERTILIZER MARKET, VOLUME SHARE(%), BY APPLICATION MODE, 2016 - 2028
- Figure 35:
- INDIA MICRONUTRIENT FERTILIZER MARKET, VALUE SHARE(%), BY APPLICATION MODE, 2016 - 2028
- Figure 36:
- INDIA MICRONUTRIENT FERTILIZER MARKET, BY APPLICATION MODE, FERTIGATION, METRIC TON, 2016 - 2028
- Figure 37:
- INDIA MICRONUTRIENT FERTILIZER MARKET, BY APPLICATION MODE, FERTIGATION, USD, 2016 - 2028
- Figure 38:
- INDIA MICRONUTRIENT FERTILIZER MARKET, VALUE SHARE(%), BY CROP TYPE, 2016 - 2028
- Figure 39:
- INDIA MICRONUTRIENT FERTILIZER MARKET, BY APPLICATION MODE, FOLIAR, METRIC TON, 2016 - 2028
- Figure 40:
- INDIA MICRONUTRIENT FERTILIZER MARKET, BY APPLICATION MODE, FOLIAR, USD, 2016 - 2028
- Figure 41:
- INDIA MICRONUTRIENT FERTILIZER MARKET, VALUE SHARE(%), BY CROP TYPE, 2016 - 2028
- Figure 42:
- INDIA MICRONUTRIENT FERTILIZER MARKET, BY APPLICATION MODE, SOIL, METRIC TON, 2016 - 2028
- Figure 43:
- INDIA MICRONUTRIENT FERTILIZER MARKET, BY APPLICATION MODE, SOIL, USD, 2016 - 2028
- Figure 44:
- INDIA MICRONUTRIENT FERTILIZER MARKET, VALUE SHARE(%), BY CROP TYPE, 2016 - 2028
- Figure 45:
- INDIA MICRONUTRIENT FERTILIZER MARKET, BY CROP TYPE, VOLUME, METRIC TON, 2016 - 2028
- Figure 46:
- INDIA MICRONUTRIENT FERTILIZER MARKET, BY CROP TYPE, VALUE, USD, 2016 - 2028
- Figure 47:
- INDIA MICRONUTRIENT FERTILIZER MARKET, VOLUME SHARE(%), BY CROP TYPE, 2016 - 2028
- Figure 48:
- INDIA MICRONUTRIENT FERTILIZER MARKET, VALUE SHARE(%), BY CROP TYPE, 2016 - 2028
- Figure 49:
- INDIA MICRONUTRIENT FERTILIZER MARKET, BY CROP TYPE, FIELD CROPS, METRIC TON, 2016 - 2028
- Figure 50:
- INDIA MICRONUTRIENT FERTILIZER MARKET, BY CROP TYPE, FIELD CROPS, USD, 2016 - 2028
- Figure 51:
- INDIA MICRONUTRIENT FERTILIZER MARKET, VALUE SHARE(%), BY PRODUCT, 2016 - 2028
- Figure 52:
- INDIA MICRONUTRIENT FERTILIZER MARKET, BY CROP TYPE, HORTICULTURAL CROPS, METRIC TON, 2016 - 2028
- Figure 53:
- INDIA MICRONUTRIENT FERTILIZER MARKET, BY CROP TYPE, HORTICULTURAL CROPS, USD, 2016 - 2028
- Figure 54:
- INDIA MICRONUTRIENT FERTILIZER MARKET, VALUE SHARE(%), BY PRODUCT, 2016 - 2028
- Figure 55:
- INDIA MICRONUTRIENT FERTILIZER MARKET, BY CROP TYPE, TURF & ORNAMENTAL, METRIC TON, 2016 - 2028
- Figure 56:
- INDIA MICRONUTRIENT FERTILIZER MARKET, BY CROP TYPE, TURF & ORNAMENTAL, USD, 2016 - 2028
- Figure 57:
- INDIA MICRONUTRIENT FERTILIZER MARKET, VALUE SHARE(%), BY PRODUCT, 2016 - 2028
- Figure 58:
- INDIA MICRONUTRIENT FERTILIZER MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
- Figure 59:
- INDIA MICRONUTRIENT FERTILIZER MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
- Figure 60:
- INDIA MICRONUTRIENT FERTILIZER MARKET SHARE(%), BY MAJOR PLAYERS, 2021
India Micronutrient Fertilizer Industry Segmentation
Boron, Copper, Iron, Manganese, Molybdenum, Zinc, Others are covered as segments by Product. Fertigation, Foliar, Soil are covered as segments by Application Mode. 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 |
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
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