Snapshot

Crop micronutrients are essential nutrients required by plants for growth and other metabolic activities. They play a major role in improving quality, color, taste, efficiency of fertilizers, water use, disease resistance, and others. They also aid in the development of large as well as strong roots, help build complete proteins and compounds, and promote better plant immunity. Shift of consumer preference towards nutrient rich foods owing to increasing health concerns is likely to drive market. Micronutrients are required in small quantities in humans and soil which is generally lower than 100 mg per day.
 

The global agricultural micronutrients market is estimated to be valued at USD 3.6 billion in 2020 and is projected to reach a value of USD 5.4 billion by 2025, growing at a CAGR of 8.7% during the forecast period. Factors such as the rise in micronutrient deficiencies in the soil and growing awareness about food security are projected to drive the growth of the agricultural micronutrients market.  Factors such as effectiveness of micronutrients for crop yield and productivity, increased awareness among growers about the benefits of micronutrients and shrinkage of agricultural land, are driving the global crop micronutrients market. However, mining of micronutrient reserves, availability of cheap alternatives and counterfeit products, and lack of awareness among farmers regarding dosage and proper application of micronutrients are the restraining factors for the crop micronutrients market.