The global agricultural micronutrients market was valued at USD 5.19 billion in 2024 and is projected to reach USD 9.03 billion by 2032. The market is expected to grow from USD 5.53 billion in 2025, registering a compound annual growth rate (CAGR) of 7.26% throughout the forecast period. The U.S. market is anticipated to experience notable growth, potentially reaching USD 1.88 billion by 2032, largely driven by the increased use of micronutrients in commercial-scale crop production. In 2024, the Asia Pacific region dominated the global landscape, accounting for 46.62% of the market share.
Key micronutrients—including zinc, boron, iron, copper, manganese, molybdenum, nickel, and chloride—play a vital role in correcting soil nutrient imbalances. These elements are applied across various crop categories such as cereals, fruits, vegetables, oilseeds, and pulses. They are utilized in both chelated and non-chelated forms through methods like soil application, foliar spraying, and fertigation.
Information Source: https://www.fortunebusinessinsights.com/industry-reports/agricultural-micronutrients-market-101607
Market Segmentation
Among all micronutrients, zinc is expected to remain the most in-demand, outperforming other elements such as boron, iron, manganese, and molybdenum. This trend is driven by heightened awareness of widespread zinc deficiency in agricultural soils globally. The soil application segment is forecasted to grow rapidly due to innovations in fertilizer delivery systems and increased investment in precision agriculture. Furthermore, non-chelated micronutrients are gaining popularity because they are more affordable and accessible than their chelated counterparts.
By crop type, the market is divided into cereals, fruits & vegetables, oilseeds & pulses, and others. The cereal segment is expected to lead, backed by growing cultivation areas and increasing demand for staple grains. Regionally, the market is segmented into Asia Pacific, North America, Europe, South America, and the Middle East & Africa.
Report Coverage
This report offers a comprehensive evaluation of market trends, key drivers, and potential restraints. It also examines significant strategic initiatives—such as mergers, acquisitions, and partnerships—adopted by leading companies to bolster their market share and geographic reach.
Market Drivers and Challenges
Rising Cultivation of High-Value Crops Fuels Growth
The market is seeing strong momentum due to the increasing cultivation of high-value crops like vegetables, fruits, turf, and ornamentals. These crops demand high productivity and premium quality, which in turn drives the need for micronutrient-enhanced fertilizers.
On the downside, growth may be hindered in some areas due to insufficient government incentives and constrained funding opportunities.
Regional Insights
Asia Pacific to Maintain Dominant Position, Led by India and China
Asia Pacific is projected to continue leading the global market, supported by large-scale cereal and staple crop production in nations such as India and China.
North America to Witness Steady Growth
In North America, the market is expected to grow at a consistent pace, supported by increasing awareness among farmers and agronomists about the impact of micronutrient deficiencies on crop yield and quality.
Competitive Landscape
Collaborations and Acquisitions Enhance Market Competitiveness