Russia Micronutrient Fertilizer Market Size

Statistics for the 2023 & 2024 Russia Micronutrient Fertilizer market size, created by Mordor Intelligence™ Industry Reports. Russia Micronutrient Fertilizer size report includes a market forecast to 2028 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of russia micronutrient fertilizer Industry

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Russia Micronutrient Fertilizer Market Summary
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Icons Lable Value
https://s3.mordorintelligence.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period 2017 - 2030
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2024) USD 166 Million
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2030) USD 235.8 Million
https://s3.mordorintelligence.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Largest Share by Product Copper
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg CAGR (2024 - 2030) 6.03 %
https://s3.mordorintelligence.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Fastest Growing by Product Molybdenum

Major Players

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*Disclaimer: Major Players sorted in no particular order

Key Players

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Russia Micronutrient Fertilizer Market Analysis

The Russia Micronutrient Fertilizer Market size is estimated at 166 million USD in 2024, and is expected to reach 235.8 million USD by 2030, growing at a CAGR of 6.03% during the forecast period (2024-2030).

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166 Million

Market Size in 2024 (USD)

235.8 Million

Market Size in 2030 (USD)

2.91 %

CAGR (2017-2023)

6.03 %

CAGR (2024-2030)

Largest Segment by Type

36.13 %

value share, Copper, 2023

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The country soils include sandy soils, calcareous soils, and soils with high organic content exhibiting copper deficiency. This will drive the copper market in Russia.

Fastest Growing Type

6.63 %

Projected CAGR, Molybdenum, 2024-2030

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The growing molybdenum micronutrient deficiency in the country's acidic soils and soils with low pH content may raise the molybdenum fertilizer usage in the country.

Largest Segment by Crop Type

95.14 %

value share, Field Crops, 2023

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The demand for consistent and higher yields of staple field crops like wheat and corn in the country has lead to greater usage of fertilizers to ensure optimum productivity.

Largest segment by Application Mode

91.03 %

value share, Soil, 2023

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Soil is the most common method for micronutrient application. The chelated micronutrients are proven to have fewer reactions in the soil, can increase application through soil.

Leading Market Player

10.38 %

market share, Yara International ASA, 2022

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The company has several products catering to the needs of Russian farmers. The strong distribution network of Yara International ASA has a vital role for its market position.

Zinc micronutrient fertilizer dominated the Russian micronutrient fertilizer market

  • Micronutrients actively participate in crucial plant metabolic activities, including cell wall formation, pollen development, germination, chlorophyll synthesis, nitrogen fixation, and protein component synthesis.
  • In 2022, copper dominated Russia's micronutrient fertilizer market, constituting approximately 40.5% of the total value. Copper is pivotal in chlorophyll formation and vital for numerous enzymatic processes. Its deficiency significantly hampers crop yield, leading to subpar grain filling and malformed kernels.
  • Zinc held the second-largest market share in Russia's micronutrient fertilizer market in 2022, accounting for around 23.5% of the total value. Zinc is a key constituent of plant enzyme systems, facilitating the activation of diverse enzymes and enhancing carbohydrate metabolism.
  • Molybdenum, comprising 2.5% of the overall micronutrient market in 2022, is an essential trace element. Unlike most micronutrients, its availability to plants increases with soil pH. Molybdenum is crucial for the production and functioning of the nitrate reductase enzyme.
  • In 2022, boron micronutrient fertilizers held the second-largest market share in Russia, accounting for 25.7% in terms of consumption volume. However, in terms of market value, boron micronutrients only commanded 5.2%, primarily due to their relatively lower cost compared to other micronutrients in the country.
  • Given their pivotal role in plant metabolism, the micronutrient fertilizers market is poised for growth in the coming years.
Russia Micronutrient Fertilizer Market

Russia Micronutrient Fertilizer Market Size & Share Analysis - Growth Trends & Forecasts UP TO 2028