Global Micronutrient Market Growth 2023-2029

Global Micronutrient Market Growth 2023-2029

Micronutrients are those elements essential for plant growth which are needed in only very small (micro) quantities. These elements are sometimes called minor elements or trace elements, but use of the term micronutrient is encouraged by the American Society of Agronomy and the Soil Science Society of America. The micronutrients are boron (B), copper (Cu), iron (Fe), chloride (Cl), manganese (Mn), molybdenum (Mo) and zinc (Zn). Recycling organic matter such as grass clippings and tree leaves is an excellent way of providing micronutrients (as well as macronutrients) to growing plants.

LPI (LP Information)' newest research report, the “Micronutrient Industry Forecast” looks at past sales and reviews total world Micronutrient sales in 2022, providing a comprehensive analysis by region and market sector of projected Micronutrient sales for 2023 through 2029. With Micronutrient sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Micronutrient industry.

This Insight Report provides a comprehensive analysis of the global Micronutrient landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Micronutrient portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Micronutrient market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Micronutrient and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Micronutrient.

The global Micronutrient market size is projected to grow from US$ 7160 million in 2022 to US$ 11540 million in 2029; it is expected to grow at a CAGR of 11540 from 2023 to 2029.

North America is the largest Micronutrient market with about 42% market share. Europe is follower, accounting for about 27% market share.

The key players are BASF, AkzoNobel, Yara International, Haifa, Nutrien, Stoller, Mosaic, JR Simplot, Nulex, Sapec SA, Wolf Trax, DAYAL GROUP, SAM HPRP, Frit Industries, Valagro, ATP Nutrition, Kronos Micronutrients, Sun Agrigenetics, QC Corporation, Coromandel International, Microfeed, Sinofert Holding, Jinpai Fertilier, Hui Yi Chemical, Wintong Chemicals etc. Top 3 companies occupied about 40% market share.

This report presents a comprehensive overview, market shares, and growth opportunities of Micronutrient market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type

Soil Fertilizer

Foliar Fertilizer

Seed Treatment

Hydroponics

Others

Segmentation by application

Cereals

Fruits and Vegetables

Flowers

Others

This report also splits the market by region:

Americas

United States

Canada

Mexico

Brazil

APAC

China

Japan

Korea

Southeast Asia

India

Australia

Europe

Germany

France

UK

Italy

Russia

Middle East & Africa

Egypt

South Africa

Israel

Turkey

GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.

BASF

AkzoNobel

Yara International

Haifa

Nutrien

Stoller

Mosaic

JR Simplot

Nulex

Sapec SA

Wolf Trax

DAYAL GROUP

SAM HPRP

Frit Industries

Valagro

ATP Nutrition

Kronos Micronutrients

Sun Agrigenetics

QC Corporation

Coromandel International

Microfeed

Sinofert Holding

Jinpai Fertilier

Hui Yi Chemical

Wintong Chemicals

Key Questions Addressed in this Report

What is the 10-year outlook for the global Micronutrient market?

What factors are driving Micronutrient market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Micronutrient market opportunities vary by end market size?

How does Micronutrient break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.