MICRONUTRIENTS FERTILIZERS MARKET ANALYSIS

Micronutrients Fertilizers Market Size and Trends

The micronutrients fertilizers market is estimated to be valued at USD 5.60 Bn in 2024 and is expected to reach USD 8.82 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031.

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Micronutrients such as zinc, boron, copper, chloride, manganese, molybdenum, and others are essential for plant growth and to boost crop yield which is driving the demand for micronutrient fertilizers. The micronutrients fertilizers market is expected to witness significant growth over the forecast period. The growth of the market is supported by the rising demand for food owing to continuously increasing population. Micronutrients play a vital role in improving the quality and quantity of agricultural production and maintaining overall soil health. Moreover, the increasing focus of farmers on sustainable agricultural practices and optimized usage of fertilizers is expected to boost the adoption of micronutrients fertilizers.

Rising Demand for High-quality Food Items

The demand for high-quality food items across the globe has increased tremendously over the past few decades. With rapid urbanization and improving economic conditions, people now have greater access to a variety of food options and their preferences for nutrition-rich foods has also increased. Most consumers today pay close attention to the ingredients and nutritional value of the food products they consume on a daily basis. This growing health-consciousness among individuals has propelled the demand for foods that are grown using balanced fertilizers which enrich the soil with essential micronutrients.

Micronutrient deficiencies in soil can severely impact the nutritional value and yield of crops. Farmers have recognized this challenge and are increasingly using micronutrients fertilizers to overcome micro-element deficiencies and improve crop health. Micronutrients such as iron, zinc, manganese, copper, etc. play a vital role in photosynthesis, enzyme activity and protein synthesis in plants. Their adequate presence in soil enables crops to maximize their growth potential and nutritional composition. As consumer preference for foods with high proteins, vitamins and minerals continues to rise, farmers are more motivated to adopt micronutrient fertilizers in order to grow crops that can fulfill these newest standards of nutrition. The food processing industry is also supportive of sourcing raw materials cultivated using balanced fertilization practices as it allows them to develop food products with optimum nutrient levels to cater to people's changing dietary requirements.

Awareness About Soil Health Management

There is growing widespread recognition of the importance of maintaining long-term soil fertility through balanced fertilization. Farmers around the world are increasingly realizing that excessive usage of nitrogen, phosphorus and potassium fertilizers can degrade the physical and biological properties of soil over time if micronutrients are not adequately supplemented. Continuous cropping and intensive farming without replacing the micronutrients removed from the soil eventually leads to deficiencies. This not only impacts crop yields but also makes soils more vulnerable to diseases and environmental stresses. Inadequate presence of micronutrients like zinc, boron, and manganese also affects the quality of agricultural produce.

Various initiatives by government extension services and agricultural universities are educating farmers about the significance of micronutrient management. They are spreading awareness about soil test-based fertilization practices and how balanced supplementation of macronutrients and micronutrients contributes to overall soil health.