Market Size of india micronutrient fertilizer Industry
| Icons | Lable | Value |
|---|---|---|
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Study Period | 2016 - 2028 |
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Market Size (2024) | USD 701.33 Million |
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Market Size (2028) | USD 971.78 Million |
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Largest Share by Product | Zinc |
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CAGR (2024 - 2028) | 8.50 % |
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Fastest Growing by Product | Boron |
Major Players |
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*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.
