Micronutrient Fertilizers Market

By Product;

Boron, Copper, Iron, Manganese, Molybdenum, Zinc and Others

By Application Mode;

Fertigation, Foliar and Soil

By Crop Type;

Field Crops, Horticultural Crops and Turf & Ornamental

By Geography;

North America, Europe, Asia Pacific, Middle East & Africa and Latin America - Report Timeline (2021 - 2031)
Report ID: Rn790696380 Published Date: September, 2025 Updated Date: November, 2025

Micronutrient Fertilizers Market Overview

Micronutrient Fertilizers Market (USD Million)

Micronutrient Fertilizers Market was valued at USD 4,873.14 million in the year 2024. The size of this market is expected to increase to USD 6,075.28 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 3.2%.


Micronutrient Fertilizers Market

*Market size in USD million

CAGR 3.2 %


Study Period2025 - 2031
Base Year2024
CAGR (%)3.2 %
Market Size (2024)USD 4,873.14 Million
Market Size (2031)USD 6,075.28 Million
Market ConcentrationHigh
Report Pages331
4,873.14
2024
6,075.28
2031

Major Players

  • Yara International
  • FMC Corporation
  • BASF SE
  • UPL Limited
  • Coromandel International Limited

Market Concentration

Consolidated - Market dominated by 1 - 5 major players

Micronutrient Fertilizers Market

Fragmented - Highly competitive market without dominant players


The Micronutrient Fertilizers Market is becoming increasingly vital as global agriculture focuses on improving crop yield and enhancing soil health. Rising adoption of micronutrient-rich fertilizers is evident, with nearly 45% of farmers reporting improved productivity after integrating these products into their cultivation practices. The demand is driven by the recognition that traditional fertilizers often fail to meet micronutrient deficiencies in soil.

Key Drivers Fueling Growth
The push toward sustainable farming practices and the need for nutrient-balanced soils are key contributors. Around 40% of agricultural land worldwide is deficient in essential micronutrients such as zinc, iron, and boron, driving demand for corrective fertilizer solutions. These fertilizers not only improve plant health but also enhance crop quality and resistance.

Technological Advancements Supporting Adoption
Innovation in fertilizer formulations, such as chelated micronutrients and controlled-release blends, is gaining prominence. About 50% of recent fertilizer launches incorporate advanced delivery technologies to ensure higher absorption and reduced wastage. Such improvements are positioning micronutrient fertilizers as indispensable tools for modern agriculture.

Strategic Collaborations and Expansion
Leading agribusinesses are entering into partnerships and collaborations to expand product offerings and reach underserved markets. Nearly 35% of companies in the sector have recently invested in R&D collaborations, highlighting a strong focus on innovation. This trend is strengthening the market’s ability to address varying soil compositions and crop-specific nutrient demands.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Product
    2. Market Snapshot, By Application Mode
    3. Market Snapshot, By Crop Type
    4. Market Snapshot, By Region
  4. Micronutrient Fertilizers Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Rising Demand for High-Quality Crops
        2. Government Support and Initiatives
        3. Expansion of Agriculture in Emerging Markets
      2. Restraints
        1. Cost Considerations
        2. Complexity of Application
        3. Soil pH and Nutrient Interactions
      3. Opportunities
        1. Addressing Nutrient Deficiencies
        2. Expansion into Emerging Markets
        3. Technological Innovation
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Micronutrient Fertilizers Market, By Product, 2021 - 2031 (USD Million)
      1. Boron
      2. Copper
      3. Iron
      4. Manganese
      5. Molybdenum
      6. Zinc
      7. Others
    2. Micronutrient Fertilizers Market, By Application Mode, 2021 - 2031 (USD Million)
      1. Fertigation
      2. Foliar
      3. Soil
    3. Micronutrient Fertilizers Market, By Crop Type, 2021 - 2031 (USD Million)
      1. Field Crops
      2. Horticultural Crops
      3. Turf & Ornamental
    4. Micronutrient Fertilizers Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Nutrien Ltd.
      2. Yara International ASA
      3. The Mosaic Company
      4. BASF SE
      5. Haifa Group
      6. CF Industries Holdings, Inc.
      7. Coromandel International Limited
      8. ICL Group Ltd.
      9. UPL Ltd.
      10. FMC Corporation
      11. Nouryon Specialty Chemicals B.V.
      12. Coromandel International Limited
      13. Nufarm Limited
      14. Compass Minerals International Inc.
      15. Haifa Negev Technologies Ltd.
  7. Analyst Views
  8. Future Outlook of the Market