North America Micronutrient Fertilizer Market Size
| Icons | Lable | Value |
|---|---|---|
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 1.4 Billion |
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Market Size (2030) | USD 2.01 Billion |
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Largest Share by Product | Zinc |
|
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CAGR (2024 - 2030) | 6.31 % |
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Largest Share by Country | United States |
|
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Market Concentration | High |
Major Players |
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*Disclaimer: Major Players sorted in alphabetical order. |
North America Micronutrient Fertilizer Market Analysis
The North America Micronutrient Fertilizer Market size is estimated at 1.4 billion USD in 2024, and is expected to reach 2.01 billion USD by 2030, growing at a CAGR of 6.31% during the forecast period (2024-2030).
1.4 Billion
Market Size in 2024 (USD)
2.01 Billion
Market Size in 2030 (USD)
6.15 %
CAGR (2017-2023)
6.31 %
CAGR (2024-2030)
Largest Segment by Type
24.69 %
value share, Zinc, 2023
Agricultural experts have recognized that zinc deficiency in the Midwest and Great Plains regions of North America, is a significant challenge that can impact the crop yields.
Fastest Growing Type
7.52 %
Projected CAGR, Boron, 2024-2030
With the rising need to improve productivity and quality of the crops and address soil deficiency, the demand for boron is expected to significantly increase in the region.
Largest Segment by Crop Type
88.89 %
value share, Field Crops, 2023
The demand for micronutrient fertilizers is increasing in field crop cultivation to address soil nutrient deficiency which can significantly improve yields and quality.
Largest segment by Country
54.56 %
value share, United States, 2023
The growing awarenss of soil micronutrient deficiencies and their impact over crop health & yield among the farmers in the United States contributed to the market growth.
Leading Market Player
26.71 %
market share, The Mosaic Company, 2022
The Mosaic Co. has proprietary Fusion technology that packs all of the key micronutrients of MicroEssentials into a single granule making it leading market player.
Expansion of cultivation and the need for micronutrients to enhance quality and yield are anticipated to drive the demand for micronutrients
- Micronutrients are essential for plant growth. They play an important role in balanced crop nutrition. The lack of any of the micronutrients may limit plant growth. Micronutrient fertilizers contain elements like boron, copper, manganese, zinc, and cobalt. Plants require these substances in small quantities.
- By crop type, field crops recorded the highest value of USD 1.26 billion and a consumption volume of 399.2 thousand metric tons in 2022. Field crops accounted for about 88.7% of agricultural land in North America during the same period.
- The conventional micronutrient fertilizers segment accounted for 80.8% of the market share and was valued at USD 1.12 billion in 2022. It is anticipated to reach USD 1.57 billion by 2030. The specialty fertilizers segment accounted for 19.2% and was valued at USD 298.6 million in 2022. It is expected to reach USD 435.1 million by the end of 2030.
- In 2022, zinc accounted for 27.4% of the total micronutrient fertilizer market in North America and is the largest valued micronutrient. Zinc is a major component of plant enzyme systems. Zinc aids in the activation of various types of enzymes, boosting carbohydrate metabolism. Zinc deficiency is particularly common in Washington orchards, maize, and wheat, and it primarily causes stunted growth and little leaf disorder.
- Copper accounted for 17.5% of the North American micronutrient fertilizers market in 2022. Copper deficiency is becoming more widespread across Western Canada, limiting the growth of the crop and reducing yield potential because the natural stores of copper have been depleted by plants that take up copper in higher amounts. The copper fertilizer market is anticipated to witness a CAGR of 6.2% during 2023-2030.
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The need to improve soil fertility and nutrient deficiency will fuel the growth of the market
- With nearly 98.8 million hectares of agricultural land, the United States dominates as North America's top agriculture producer. In 2022, the US commanded a significant 56.9% share of the North American market for micronutrient fertilizers.
- In 2022, crop cultivation in the US covered 139.7 million hectares, a 1% increase from the previous year. This expansion in cultivated areas has coincided with a growing reliance on micronutrient fertilizers, driven by escalating soil nutrient deficiencies.
- Canada, the second-largest agricultural landowner in North America, boasted around 30.9 million hectares. In 2022, Canada held a 14.2% share of the region's micronutrient fertilizer market. Over 88.0% of Canada's agricultural land is dedicated to crops, with notable concentrations in the Prairies, Quebec, and Southern Ontario.
- In 2022, Mexico emerged as a significant player in the micronutrient fertilizer market, capturing a 26.6% share in market value and 26.4% in volume. Field crops dominated Mexico's micronutrient fertilizer market, accounting for 69.2% of the total volume. Turf and ornamental crops followed at 16.1%, with horticultural crops making up the remaining 14.6%. Key field crops in Mexico include corn, sugarcane, and wheat.
- Other North American countries collectively contributed 2.4% to the total micronutrient fertilizer market value in 2022. Nations like the Dominican Republic, El Salvador, and Nicaragua, in this segment, rely on fertilizer imports and heavily depend on imported agricultural commodities.
- The North American micronutrient fertilizer market is on a steady growth trajectory and is projected to continue expanding in the coming years. This growth is driven by the increasing recognition of micronutrients' pivotal role in ensuring robust crop growth.
North America Micronutrient Fertilizer Market Trends
Government support, such as subsidies, contributed to the expansion of field crops
- A wide array of crops are grown on North American farms, mainly covering field crops. Corn, cotton, rice, soybean, and wheat are some of the dominating field crops across the region. The United States, Canada, and Mexico are major contributors to the region's agricultural output. In 2022, field crops covered around 97.6% of the overall cultivation in North America, with cereals and oilseeds dominating the market.
- By country, the United States dominates the market by covering 135.7 million hectares of the overall area under crop cultivation. Among them, field crops and horticulture cover the majority of the area and accounted for 97.2% and 2.8% in the year 2022. However, between 2018-2019, the country witnessed a significant dip in crop acreages, which was mainly due to unfavorable environmental conditions resulting in heavy floods in areas like Texas and Houston.
- The largest crop cultivated is corn, the majority of which is grown in a region known as the 'Corn Belt'—a traditional area in the Midwestern United States, roughly covering western Indiana, Illinois, Iowa, Missouri, eastern Nebraska, and eastern Kansas, where corn (maize) and soybeans are the dominant crops. The United States is also a major rice exporter. The rice cultivation in the region is mainly concentrated within four regions, with three in the South and one in California. Therefore, the increased market potential for the region's field crop, coupled with increased government funding and protection, is anticipated to positively drive the area under field crop cultivation in the region.
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Raising micronutrient deficiencies and crop losses increase micronutrient application rates
- In 2022, the highest application rates were observed for manganese, copper, zinc, iron, and boron, at 10.6 kg/ha, 6.9 kg/ha, 6.8 kg/ha, 3.3 kg/ha, and 1.5 kg/ha, respectively. Although most micronutrients have lower crop uptake, their unavailability can severely limit critical plant functions, leading to abnormalities, stunted growth, and reduced yields. Given the rising yields, commodity prices, and input costs, growers are scrutinizing potential barriers to grain production, including micronutrient deficiencies.
- Wheat, sorghum, soybean, and cotton dominate micronutrient fertilizer consumption, with other field crops like corn and rice playing a smaller role. Wheat, in particular, faces significant deficiencies in copper and manganese, while iron and zinc deficiencies also mildly impact its yield.
- The micronutrient requirements of each crop are influenced by regional soil conditions. In the United States, sandy soils in the southeast, which are low in organic matter and prone to leaching, commonly exhibit boron deficiencies, unlike the fertile black soils in the northeast. Similarly, certain fields in Central Alberta, Canada, face copper deficiencies, which are crucial for cereal cultivation.
- All agricultural soils in Mexico are zinc-deficient. However, this condition is more common in Queretaro, Sonora, and Sinaloa, indicating an increased need for zinc micronutrient fertilizers. North American soil is naturally deficient in micronutrients, leading to increased consumption of micronutrient supplements during cultivation.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Agriculture extension services provided by the government to farmers are expected to drive the cultivation area under horticulture crops
- Government policies and financial support are raising the irrigation area in the region
- Micronutrient consumption is higher in the cabbage crop
North America Micronutrient Fertilizer Industry Overview
The North America Micronutrient Fertilizer Market is fairly consolidated, with the top five companies occupying 68.24%. The major players in this market are Sociedad Quimica y Minera de Chile SA, The Andersons Inc., The Mosaic Company, Wilbur-Ellis Company LLC and Yara International ASA (sorted alphabetically).
North America Micronutrient Fertilizer Market Leaders
Sociedad Quimica y Minera de Chile SA
The Andersons Inc.
The Mosaic Company
Wilbur-Ellis Company LLC
Yara International ASA
Other important companies include Haifa Group, Koch Industries Inc., Nouryon.
*Disclaimer: Major Players sorted in alphabetical order.
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North America Micronutrient Fertilizer Market News
- April 2023: ADOB, a major provider of chelating micronutrients, foliar, and other specialty farming solutions based in Poland, was acquired by Nouryon. Through the acquisition, the company broadened its innovative crop nutrition portfolio.
- October 2022: The Andersons entered an agreement to acquire the assets of Mote Farm Service Inc. to expand its retail farm center network.
- March 2022: The Haifa Group entered a purchase agreement with HORTICOOP BV to acquire Horticoop Andina, the distributor of nutritional products for agriculture. Through this acquisition of the brand, Haifa intends to expand its market presence in the Latin market and strengthen its position as a global superbrand in advanced plant nutrition.
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North America Micronutrient Fertilizer Market Report - Table of Contents
EXECUTIVE SUMMARY & KEY FINDINGS
REPORT OFFERS
1. INTRODUCTION
1.1. Study Assumptions & Market Definition
1.2. Scope of the Study
1.3. Research Methodology
2. KEY INDUSTRY TRENDS
2.1. Acreage Of Major Crop Types
2.1.1. Field Crops
2.1.2. Horticultural Crops
2.2. Average Nutrient Application Rates
2.2.1. Micronutrients
2.2.1.1. Field Crops
2.2.1.2. Horticultural Crops
2.3. Agricultural Land Equipped For Irrigation
2.4. Regulatory Framework
2.5. Value Chain & Distribution Channel Analysis
3. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)
3.1. Product
3.1.1. Boron
3.1.2. Copper
3.1.3. Iron
3.1.4. Manganese
3.1.5. Molybdenum
3.1.6. Zinc
3.1.7. Others
3.2. Application Mode
3.2.1. Fertigation
3.2.2. Foliar
3.2.3. Soil
3.3. Crop Type
3.3.1. Field Crops
3.3.2. Horticultural Crops
3.3.3. Turf & Ornamental
3.4. Country
3.4.1. Canada
3.4.2. Mexico
3.4.3. United States
3.4.4. Rest of North America
4. COMPETITIVE LANDSCAPE
4.1. Key Strategic Moves
4.2. Market Share Analysis
4.3. Company Landscape
4.4. Company Profiles
4.4.1. Haifa Group
4.4.2. Koch Industries Inc.
4.4.3. Nouryon
4.4.4. Sociedad Quimica y Minera de Chile SA
4.4.5. The Andersons Inc.
4.4.6. The Mosaic Company
4.4.7. Wilbur-Ellis Company LLC
4.4.8. Yara International ASA
5. KEY STRATEGIC QUESTIONS FOR FERTILIZER CEOS
6. APPENDIX
6.1. Global Overview
6.1.1. Overview
6.1.2. Porter’s Five Forces Framework
6.1.3. Global Value Chain Analysis
6.1.4. Market Dynamics (DROs)
6.2. Sources & References
6.3. List of Tables & Figures
6.4. Primary Insights
6.5. Data Pack
6.6. Glossary of Terms
List of Tables & Figures
- Figure 1:
- CULTIVATION OF FIELD CROPS IN HECTARE, NORTH AMERICA, 2017 - 2022
- Figure 2:
- CULTIVATION OF HORTICULTURAL CROPS IN HECTARE, NORTH AMERICA, 2017 - 2022
- Figure 3:
- CONSUMPTION OF MICRONUTRIENTS BY FIELD CROPS IN KG/HECTARE, NORTH AMERICA, 2022
- Figure 4:
- CONSUMPTION OF MICRONUTRIENTS BY HORTICULTURAL CROPS IN KG/HECTARE, NORTH AMERICA, 2022
- Figure 5:
- AGRICULTURAL LAND EQUIPPED FOR IRRIGATION IN HECTARE, NORTH AMERICA, 2022
- Figure 6:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN METRIC TON, NORTH AMERICA, 2017 - 2030
- Figure 7:
- MICRONUTRIENTS FERTILIZER CONSUMPTION IN USD, NORTH AMERICA, 2017 - 2030
- Figure 8:
- FERTILIZER CONSUMPTION BY MICRONUTRIENTS IN METRIC TON, NORTH AMERICA, 2017 - 2030
- Figure 9:
- FERTILIZER CONSUMPTION BY MICRONUTRIENTS IN USD, NORTH AMERICA, 2017 - 2030
- Figure 10:
- FERTILIZER CONSUMPTION VOLUME BY MICRONUTRIENTS IN %, NORTH AMERICA, 2017 VS 2023 VS 2030
- Figure 11:
- FERTILIZER CONSUMPTION VALUE BY MICRONUTRIENTS IN %, NORTH AMERICA, 2017 VS 2023 VS 2030
- Figure 12:
- BORON FERTILIZER CONSUMPTION IN METRIC TON, NORTH AMERICA, 2017 - 2030
- Figure 13:
- BORON FERTILIZER CONSUMPTION IN USD, NORTH AMERICA, 2017 - 2030
- Figure 14:
- BORON FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, NORTH AMERICA, 2023 VS 2030
- Figure 15:
- COPPER FERTILIZER CONSUMPTION IN METRIC TON, NORTH AMERICA, 2017 - 2030
- Figure 16:
- COPPER FERTILIZER CONSUMPTION IN USD, NORTH AMERICA, 2017 - 2030
- Figure 17:
- COPPER FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, NORTH AMERICA, 2023 VS 2030
- Figure 18:
- IRON FERTILIZER CONSUMPTION IN METRIC TON, NORTH AMERICA, 2017 - 2030
- Figure 19:
- IRON FERTILIZER CONSUMPTION IN USD, NORTH AMERICA, 2017 - 2030
- Figure 20:
- IRON FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, NORTH AMERICA, 2023 VS 2030
- Figure 21:
- MANGANESE FERTILIZER CONSUMPTION IN METRIC TON, NORTH AMERICA, 2017 - 2030
- Figure 22:
- MANGANESE FERTILIZER CONSUMPTION IN USD, NORTH AMERICA, 2017 - 2030
- Figure 23:
- MANGANESE FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, NORTH AMERICA, 2023 VS 2030
- Figure 24:
- MOLYBDENUM FERTILIZER CONSUMPTION IN METRIC TON, NORTH AMERICA, 2017 - 2030
- Figure 25:
- MOLYBDENUM FERTILIZER CONSUMPTION IN USD, NORTH AMERICA, 2017 - 2030
- Figure 26:
- MOLYBDENUM FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, NORTH AMERICA, 2023 VS 2030
- Figure 27:
- ZINC FERTILIZER CONSUMPTION IN METRIC TON, NORTH AMERICA, 2017 - 2030
- Figure 28:
- ZINC FERTILIZER CONSUMPTION IN USD, NORTH AMERICA, 2017 - 2030
- Figure 29:
- ZINC FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, NORTH AMERICA, 2023 VS 2030
- Figure 30:
- OTHERS FERTILIZER CONSUMPTION IN METRIC TON, NORTH AMERICA, 2017 - 2030
- Figure 31:
- OTHERS FERTILIZER CONSUMPTION IN USD, NORTH AMERICA, 2017 - 2030
- Figure 32:
- OTHERS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, NORTH AMERICA, 2023 VS 2030
- Figure 33:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY APPLICATION MODE IN METRIC TON, NORTH AMERICA, 2017 - 2030
- Figure 34:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY APPLICATION MODE IN USD, NORTH AMERICA, 2017 - 2030
- Figure 35:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VOLUME BY APPLICATION MODE IN %, NORTH AMERICA, 2017 VS 2023 VS 2030
- Figure 36:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY APPLICATION MODE IN %, NORTH AMERICA, 2017 VS 2023 VS 2030
- Figure 37:
- FERTIGATION APPLICATION OF MICRONUTRIENTS FERTILIZER IN METRIC TON, NORTH AMERICA, 2017 - 2030
- Figure 38:
- FERTIGATION APPLICATION OF MICRONUTRIENTS FERTILIZER IN USD, NORTH AMERICA, 2017 - 2030
- Figure 39:
- FERTIGATION APPLICATION OF MICRONUTRIENTS FERTILIZER IN VALUE BY CROP TYPE IN %, NORTH AMERICA, 2023 VS 2030
- Figure 40:
- FOLIAR APPLICATION OF MICRONUTRIENTS FERTILIZER IN METRIC TON, NORTH AMERICA, 2017 - 2030
- Figure 41:
- FOLIAR APPLICATION OF MICRONUTRIENTS FERTILIZER IN USD, NORTH AMERICA, 2017 - 2030
- Figure 42:
- FOLIAR APPLICATION OF MICRONUTRIENTS FERTILIZER IN VALUE BY CROP TYPE IN %, NORTH AMERICA, 2023 VS 2030
- Figure 43:
- SOIL APPLICATION OF MICRONUTRIENTS FERTILIZER IN METRIC TON, NORTH AMERICA, 2017 - 2030
- Figure 44:
- SOIL APPLICATION OF MICRONUTRIENTS FERTILIZER IN USD, NORTH AMERICA, 2017 - 2030
- Figure 45:
- SOIL APPLICATION OF MICRONUTRIENTS FERTILIZER IN VALUE BY CROP TYPE IN %, NORTH AMERICA, 2023 VS 2030
- Figure 46:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY CROP TYPE IN METRIC TON, NORTH AMERICA, 2017 - 2030
- Figure 47:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY CROP TYPE IN USD, NORTH AMERICA, 2017 - 2030
- Figure 48:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VOLUME BY CROP TYPE IN %, NORTH AMERICA, 2017 VS 2023 VS 2030
- Figure 49:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, NORTH AMERICA, 2017 VS 2023 VS 2030
- Figure 50:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY FIELD CROPS IN METRIC TON, NORTH AMERICA, 2017 - 2030
- Figure 51:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY FIELD CROPS IN USD, NORTH AMERICA, 2017 - 2030
- Figure 52:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY PRODUCT IN %, NORTH AMERICA, 2023 VS 2030
- Figure 53:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY HORTICULTURAL CROPS IN METRIC TON, NORTH AMERICA, 2017 - 2030
- Figure 54:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY HORTICULTURAL CROPS IN USD, NORTH AMERICA, 2017 - 2030
- Figure 55:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY PRODUCT IN %, NORTH AMERICA, 2023 VS 2030
- Figure 56:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY TURF & ORNAMENTAL IN METRIC TON, NORTH AMERICA, 2017 - 2030
- Figure 57:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY TURF & ORNAMENTAL IN USD, NORTH AMERICA, 2017 - 2030
- Figure 58:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY PRODUCT IN %, NORTH AMERICA, 2023 VS 2030
- Figure 59:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY COUNTRY IN METRIC TON, NORTH AMERICA, 2017 - 2030
- Figure 60:
- MICRONUTRIENTS FERTILIZER CONSUMPTION BY COUNTRY IN USD, NORTH AMERICA, 2017 - 2030
- Figure 61:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VOLUME BY COUNTRY IN %, NORTH AMERICA, 2017 VS 2023 VS 2030
- Figure 62:
- MICRONUTRIENTS FERTILIZER CONSUMPTION VALUE BY COUNTRY IN %, NORTH AMERICA, 2017 VS 2023 VS 2030
- Figure 63:
- CANADA FERTILIZER CONSUMPTION IN METRIC TON, CANADA, 2017 - 2030
- Figure 64:
- CANADA FERTILIZER CONSUMPTION IN USD, CANADA, 2017 - 2030
- Figure 65:
- CANADA FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, CANADA, 2023 VS 2030
- Figure 66:
- MEXICO FERTILIZER CONSUMPTION IN METRIC TON, MEXICO, 2017 - 2030
- Figure 67:
- MEXICO FERTILIZER CONSUMPTION IN USD, MEXICO, 2017 - 2030
- Figure 68:
- MEXICO FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, MEXICO, 2023 VS 2030
- Figure 69:
- UNITED STATES FERTILIZER CONSUMPTION IN METRIC TON, UNITED STATES, 2017 - 2030
- Figure 70:
- UNITED STATES FERTILIZER CONSUMPTION IN USD, UNITED STATES, 2017 - 2030
- Figure 71:
- UNITED STATES FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, UNITED STATES, 2023 VS 2030
- Figure 72:
- REST OF NORTH AMERICA FERTILIZER CONSUMPTION IN METRIC TON, REST OF NORTH AMERICA, 2017 - 2030
- Figure 73:
- REST OF NORTH AMERICA FERTILIZER CONSUMPTION IN USD, REST OF NORTH AMERICA, 2017 - 2030
- Figure 74:
- REST OF NORTH AMERICA FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, REST OF NORTH AMERICA, 2023 VS 2030
- Figure 75:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, NORTH AMERICA, 2017 - 2030
- Figure 76:
- NORTH AMERICA MICRONUTRIENT FERTILIZER MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
- Figure 77:
- MARKET SHARE OF MAJOR PLAYERS IN %, NORTH AMERICA, 2022
North America 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. Canada, Mexico, United States are covered as segments by Country.
- Micronutrients are essential for plant growth. They play an important role in balanced crop nutrition. The lack of any of the micronutrients may limit plant growth. Micronutrient fertilizers contain elements like boron, copper, manganese, zinc, and cobalt. Plants require these substances in small quantities.
- By crop type, field crops recorded the highest value of USD 1.26 billion and a consumption volume of 399.2 thousand metric tons in 2022. Field crops accounted for about 88.7% of agricultural land in North America during the same period.
- The conventional micronutrient fertilizers segment accounted for 80.8% of the market share and was valued at USD 1.12 billion in 2022. It is anticipated to reach USD 1.57 billion by 2030. The specialty fertilizers segment accounted for 19.2% and was valued at USD 298.6 million in 2022. It is expected to reach USD 435.1 million by the end of 2030.
- In 2022, zinc accounted for 27.4% of the total micronutrient fertilizer market in North America and is the largest valued micronutrient. Zinc is a major component of plant enzyme systems. Zinc aids in the activation of various types of enzymes, boosting carbohydrate metabolism. Zinc deficiency is particularly common in Washington orchards, maize, and wheat, and it primarily causes stunted growth and little leaf disorder.
- Copper accounted for 17.5% of the North American micronutrient fertilizers market in 2022. Copper deficiency is becoming more widespread across Western Canada, limiting the growth of the crop and reducing yield potential because the natural stores of copper have been depleted by plants that take up copper in higher amounts. The copper fertilizer market is anticipated to witness a CAGR of 6.2% during 2023-2030.
| Product | |
| Boron | |
| Copper | |
| Iron | |
| Manganese | |
| Molybdenum | |
| Zinc | |
| Others |
| Application Mode | |
| Fertigation | |
| Foliar | |
| Soil |
| Crop Type | |
| Field Crops | |
| Horticultural Crops | |
| Turf & Ornamental |
| Country | |
| Canada | |
| Mexico | |
| United States | |
| Rest of North America |
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Market Definition
- MARKET ESTIMATION LEVEL - Market Estimations for various types of fertilizers has been done at the product-level and not at the nutrient-level.
- NUTRIENT TYPES COVERED - Micronutients: Zn, Mn, Cu, Fe, Mo, B, and Others
- AVERAGE NUTRIENT APPLICATION RATE - This refers to the average volume of nutrient consumed per hectare of farmland in each country.
- CROP TYPES COVERED - Field Crops: Cereals, Pulses, Oilseeds, and Fiber Crops Horticulture: Fruits, Vegetables, Plantation Crops and Spices, Turf Grass and Ornamentals
| Keyword | Definition |
|---|---|
| Fertilizer | Chemical substance applied to crops to ensure nutritional requirements, available in various forms such as granules, powders, liquid, water soluble, etc. |
| Specialty Fertilizer | Used for enhanced efficiency and nutrient availability applied through soil, foliar, and fertigation. Includes CRF, SRF, liquid fertilizer, and water soluble fertilizers. |
| Controlled-Release Fertilizers (CRF) | Coated with materials such as polymer, polymer-sulfur, and other materials such as resins to ensure nutrient availability to the crop for its entire life cycle. |
| Slow-Release Fertilizers (SRF) | Coated with materials such as sulfur, neem, etc., to ensure nutrient availability to the crop for a longer period. |
| Foliar Fertilizers | Consist of both liquid and water soluble fertilizers applied through foliar application. |
| Water-Soluble Fertilizers | Available in various forms including liquid, powder, etc., used in foliar and fertigation mode of fertilizer application. |
| Fertigation | Fertilizers applied through different irrigation systems such as drip irrigation, micro irrigation, sprinkler irrigation, etc. |
| Anhydrous Ammonia | Used as fertilizer, directly injected into the soil, available in gaseous liquid form. |
| Single Super Phosphate (SSP) | Phosphorus fertilizer containing only phosphorus which has lesser than or equal to 35%. |
| Triple Super Phosphate (TSP) | Phosphorus fertilizer containing only phosphorus greater than 35%. |
| Enhanced Efficiency Fertilizers | Fertilizers coated or treated with additional layers of various ingredients to make it more efficient compared to other fertilizers. |
| Conventional Fertilizer | Fertilizers applied to crops through traditional methods including broadcasting, row placement, ploughing soil placement, etc. |
| Chelated Micronutrients | Micronutrient fertilizers coated with chelating agents such as EDTA, EDDHA, DTPA, HEDTA, etc. |
| Liquid Fertilizers | Available in liquid form, majorly used for application of fertilizers to crops through foliar and fertigation. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: IDENTIFY KEY VARIABLES: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-2: Build a Market Model: Market-size estimations for the forecast years are in nominal terms. Inflation is not a part of the pricing, and the average selling price (ASP) is kept constant throughout the forecast period for each country.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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