The global micronutrient fertilizers market is anticipated to grow at a significant CAGR of 7.5% during the forecast period. The growing investment in R&D for the development of affordable and efficient micronutrient fertilizers by key market players is driving the growth of the micronutrient fertilizers market. For instance, in 2019, AgXplore, a manufacturer of nitrogen management products, specialty fertilizers, adjuvants and micronutrients introduced Microcoat. Microcoat is a blend of five essential micro and secondary nutrients: magnesium, sulfur, manganese, molybdenum, and zinc to dry fertilizer. The company claims that Microcoat provides even coating of fertilizer granules for efficient nutrient delivery. Further adding to the developments of essential micronutrients due to decrease in nutrients in the soil., in 2019, Indian Farmers Fertilisers Cooperative Limited (IFFCO), signed a take-or-pay supply agreement with UK based Sirius Minerals Plc for supply of POLY4, a multi-nutrient fertiliser in India. The POLY4 product has four essential macronutrients and micronutrient like Boron which help in addressing the nutrient deficiency of soil.
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Farmers struggled to keep pace with demand and faced shortage of agricultural inputs during the worldwide lockdown due to COVID-19 pandemic. The disruption in supply chain also occurred due to restrictions on workers and logistical difficulties. But soon after the upliftment of lockdown the operations started to be normal as companies’ ramp up their production capacities to carter growing demand.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Global Micronutrient Fertilizers Market By Nutrient
- Zinc
- Manganese
- Copper
- Boron
- Molybdenum
- Iron
- Others (Nickel and Chlorine)
Global Micronutrient Fertilizers Market By Form
- Chelated Micronutrient
- Non-Chelated Micronutrient
Global Micronutrient Fertilizers Market By Crop Type
- Cereals & Grains
- Fruits & Vegetables
- Pulses and Oilseeds
- Others (Turfs, Ornamentals, Plantation Crops, Forages, and Fiber Crops)
Global Micronutrient Fertilizers Market By Application
- Soil
- Foliar
- Fertigation
- Seed treatment
- Others (Trunk Injection and Implantation)
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- AgXplore International, LLC.
- AkzoNobel
- AXTER AgroscienceInc.
- Bayer AG
- Belaruskali
- Compass Minerals
- Corteva Agriscience
- FMC Corp.
- Helena Agri-Enterprises, LLC
- Industries Holdings, Inc.
- Israel Chemicals Ltd.
- K+S Aktiengesellschaft
- Land O’Lakes, Inc.
- Mahadhan by Smart Chem Technologies Pvt. Ltd.
- Minerals International, Inc.
- Nouryon Chemicals Holding B.V.
- Nufarm
- Nutrien Ltd.
- UPL Ltd., India
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global micronutrient fertilizers market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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