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India Micronutrient Fertilizer Market Size

The India Micronutrient Fertilizer Market is experiencing growth driven by increasing awareness among farmers and the need to address soil nutrient deficiencies. Zinc leads in consumption due to widespread deficiencies in Indian soils, followed by iron and manganese. The market's expansion is supported by advancements in chelated fertilizers, which offer improved stability for soil applications. As the demand for higher crop yields and productivity rises, the market is expected to grow significantly over the forecast period.

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Market Size of india micronutrient fertilizer Industry

India Micronutrient Fertilizer Market Summary
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svg icon Study Period 2017 - 2030
svg icon Market Size (2024) USD 0.76 Billion
svg icon Market Size (2030) USD 1.12 Billion
svg icon Largest Share by Product Copper
svg icon CAGR (2024 - 2030) 6.62 %
svg icon Fastest Growing by Product Zinc
svg icon Market Concentration High

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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India Micronutrient Fertilizer Market Analysis

The India Micronutrient Fertilizer Market size is estimated at 0.76 billion USD in 2024, and is expected to reach 1.12 billion USD by 2030, growing at a CAGR of 6.62% during the forecast period (2024-2030).

0.76 Billion

Market Size in 2024 (USD)

1.12 Billion

Market Size in 2030 (USD)

5.92 %

CAGR (2017-2023)

6.62 %

CAGR (2024-2030)

Largest Segment by Type

42.74 %

value share, Copper, 2023

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The demand for copper fertilization has increased due to the reduced availability of copper caused by higher nitrogen application and decreased NUE in the soil of the country

Fastest Growing Type

8.15 %

Projected CAGR, Zinc, 2024-2030

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The demand for zinc fertilization has increased due to the rise in zinc deficiency in country's acidic soils with high pH content and increased use of P fertilizers

Largest Segment by Crop Type

89.46 %

value share, Field Crops, 2023

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Rise in nutrient deficiencies, higher cultivation areas under field crops and need for proper micronutient levels in the soils resulted in field crops higher market share

Largest segment by Application Mode

97.41 %

value share, Soil, 2023

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Applying micronutrients through soil application mode improves the nutrient balance, increases the crop quality and yield, these benefits lead to higher market share

Leading Market Player

14.44 %

market share, Chambal Fertilizers & Chemicals Ltd, 2022

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The company leading the market by establishing a marketing network with 22,000 village level outlets, 2200 dealers and 15 regional offices and offering various micronutrients

With the expansion of cultivation with increasing requirements of micronutrients to improve quality and yield, the demand for micronutrients is expected to grow

  • Zinc dominated India's micronutrient fertilizer consumption in 2022, accounting for 26.9% of the total. This high consumption is primarily driven by the prevalent zinc deficiency in Indian cropping soils. Notably, the buffalo bulletin highlights significant zinc deficiencies in the soils of Maharashtra (83%), Karnataka (73%), and Andhra Pradesh (58%).
  • Iron follows zinc as the second-most consumed micronutrient fertilizer in India, representing 19.9% of the total consumption. Continuous cultivation of field crops in the same area for extended periods leads to soil nutrient depletion. These factors are projected to drive the market's value, registering a CAGR of 6.8% from 2023 to 2030.
  • Manganese ranks third in micronutrient consumption, comprising 8.1% of the total. Driven by the need for higher productivity and quality, the demand for manganese fertilizers is expected to rise, registering a CAGR of 5.2% in terms of value during 2023-2030.
  • India has witnessed a notable surge in micronutrient consumption, projected to register a 4.4% CAGR during 2023-2030. This uptick is attributed to the increasing awareness among farmers about the role of micronutrients in enhancing crop productivity.
  • Looking ahead, the demand for micronutrient fertilizers in India is poised to register a 6.5% CAGR in value from 2023 to 2030. This surge is driven by the twin factors of a need for higher crop yields and productivity, coupled with escalating soil micronutrient deficiencies. Additionally, advancements in chelated fertilizers, known for their enhanced stability in soil applications, are expected to further bolster the growth of micronutrients.
India Micronutrient Fertilizer Market

India Micronutrient Fertilizer Industry Segmentation

Boron, Copper, Iron, Manganese, Molybdenum, Zinc, Others are covered as segments by Product. Fertigation, Foliar, Soil are covered as segments by Application Mode. Field Crops, Horticultural Crops, Turf & Ornamental are covered as segments by Crop Type.

  • Zinc dominated India's micronutrient fertilizer consumption in 2022, accounting for 26.9% of the total. This high consumption is primarily driven by the prevalent zinc deficiency in Indian cropping soils. Notably, the buffalo bulletin highlights significant zinc deficiencies in the soils of Maharashtra (83%), Karnataka (73%), and Andhra Pradesh (58%).
  • Iron follows zinc as the second-most consumed micronutrient fertilizer in India, representing 19.9% of the total consumption. Continuous cultivation of field crops in the same area for extended periods leads to soil nutrient depletion. These factors are projected to drive the market's value, registering a CAGR of 6.8% from 2023 to 2030.
  • Manganese ranks third in micronutrient consumption, comprising 8.1% of the total. Driven by the need for higher productivity and quality, the demand for manganese fertilizers is expected to rise, registering a CAGR of 5.2% in terms of value during 2023-2030.
  • India has witnessed a notable surge in micronutrient consumption, projected to register a 4.4% CAGR during 2023-2030. This uptick is attributed to the increasing awareness among farmers about the role of micronutrients in enhancing crop productivity.
  • Looking ahead, the demand for micronutrient fertilizers in India is poised to register a 6.5% CAGR in value from 2023 to 2030. This surge is driven by the twin factors of a need for higher crop yields and productivity, coupled with escalating soil micronutrient deficiencies. Additionally, advancements in chelated fertilizers, known for their enhanced stability in soil applications, are expected to further bolster the growth of micronutrients.
Product
Boron
Copper
Iron
Manganese
Molybdenum
Zinc
Others
Application Mode
Fertigation
Foliar
Soil
Crop Type
Field Crops
Horticultural Crops
Turf & Ornamental
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India Micronutrient Fertilizer Market Size Summary

The India Micronutrient Fertilizer Market is experiencing significant growth, driven by the increasing awareness of the importance of micronutrients in enhancing crop productivity. The market is characterized by a rising demand for fertilizers that address soil deficiencies, particularly zinc and iron, which are crucial for improving crop yields. The intensive cultivation of cereals, pulses, and oilseeds, coupled with the growing domestic and international demand for these crops, is further propelling the market. The adoption of advanced agricultural practices and the use of chelated fertilizers, known for their stability in soil applications, are expected to contribute to the market's expansion. The market is fairly consolidated, with major players like Chambal Fertilizers & Chemicals Ltd, Coromandel International Ltd., and Yara International ASA leading the industry.

The increasing consumption of chemical fertilizers has led to a notable deficiency of micronutrients in Indian soils, impacting crop yields. States such as Maharashtra, Karnataka, and Andhra Pradesh are particularly affected by zinc deficiencies, prompting farmers to adopt micronutrient management strategies for sustainable agricultural production. The market's growth is also supported by the introduction of high-yielding crop cultivars that are responsive to micronutrient applications. Companies are actively developing and launching innovative products, such as IFFCO's nano-technology-based fertilizers, to enhance nutrient delivery and reduce reliance on chemical fertilizers. These developments, along with strategic partnerships and product expansions, are anticipated to drive the micronutrient fertilizer market in India over the forecast period.

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India Micronutrient Fertilizer Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)

    1. 1.1 Product

      1. 1.1.1 Boron

      2. 1.1.2 Copper

      3. 1.1.3 Iron

      4. 1.1.4 Manganese

      5. 1.1.5 Molybdenum

      6. 1.1.6 Zinc

      7. 1.1.7 Others

    2. 1.2 Application Mode

      1. 1.2.1 Fertigation

      2. 1.2.2 Foliar

      3. 1.2.3 Soil

    3. 1.3 Crop Type

      1. 1.3.1 Field Crops

      2. 1.3.2 Horticultural Crops

      3. 1.3.3 Turf & Ornamental

India Micronutrient Fertilizer Market Size FAQs

The India Micronutrient Fertilizer Market size is expected to reach USD 764.93 million in 2024 and grow at a CAGR of 6.62% to reach USD 1.12 billion by 2030.

In 2024, the India Micronutrient Fertilizer Market size is expected to reach USD 764.93 million.

India Micronutrient Fertilizer Market Report Snapshots

India Micronutrient Fertilizer Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2030