Market Size of global micronutrient fertilizer Industry
| Icons | Lable | Value |
|---|---|---|
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Study Period | 2016 - 2030 |
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Market Size (2024) | USD 5.60 Billion |
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Market Size (2030) | USD 8.24 Billion |
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CAGR (2024 - 2030) | 6.65 % |
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Largest Share by Product | Zinc |
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Largest Share by Region | Asia-Pacific |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Micronutrient Fertilizer Market Analysis
The Global Micronutrient Fertilizer Market size is estimated at USD 5.60 billion in 2024, and is expected to reach USD 8.24 billion by 2030, growing at a CAGR of 6.65% during the forecast period (2024-2030).
- Largest Segment by Type - Zinc : Zn is the most applied micronutrient fertilizer due to the increasing Zn deficiencies in soils of major growing regions. The application of Zn is proven to give higher yields.
- Fastest growing segment by Type - Iron : The alkaline soils with high pH are deficient in iron micronutrients. The degrading health and quality of agricultural soils are declining the availability of iron.
- Largest Segment by Crop Type - Field Crops : Field crops are widely cultivated worldwide and are a staple food in many parts of the world. They account for a maximum share by area in most agricultural countries.
- Largest segment by Country - India : Micronutrient fertilizers are being used increasingly as Indian soils are deficient in boron (47%), iron (37%), and zinc (39%), as per the Center for Science and Environment.
