Market Size of united states micronutrient fertilizer Industry
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2017 - 2030 |
|
Market Size (2024) | USD 0.76 Billion |
|
|
Market Size (2030) | USD 1.08 Billion |
|
Largest Share by Product | Copper |
|
|
CAGR (2024 - 2030) | 6.05 % |
|
|
Fastest Growing by Product | Molybdenum |
|
|
Market Concentration | High |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in no particular order |
United States Micronutrient Fertilizer Market Analysis
The United States Micronutrient Fertilizer Market size is estimated at 0.76 billion USD in 2024, and is expected to reach 1.08 billion USD by 2030, growing at a CAGR of 6.05% during the forecast period (2024-2030).
0.76 Billion
Market Size in 2024 (USD)
1.08 Billion
Market Size in 2030 (USD)
4.84 %
CAGR (2017-2023)
6.05 %
CAGR (2024-2030)
Largest Segment by Type
22.80 %
value share, Copper, 2023
Copper is required for many enzymatic activities in plants and chlorophyll production. Its deficiency is most likely to occur in field crops such as wheat, barley, and oats.
Fastest Growing Type
6.67 %
Projected CAGR, Molybdenum, 2024-2030
Molybdenum deficiency is common in highly acidic soils. Deficient leaves turn pale and eventually die, flowers fail to form, and some plant species show malformed leaf blades.
Largest Segment by Crop Type
87.56 %
value share, Field Crops, 2023
The growing awareness among farmers about micnutrient deficiency and impact over field crops productivity is driving the consumption of micronutrient fertilizers
Largest segment by Application Mode
77.19 %
value share, Soil, 2023
Soil application of micronutrient fertilizers does not require any equipment or a skilled labor, and it is a cost-effective method of micronutrient fertilizer application.
Leading Market Player
30.02 %
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.
The growing soil deficiency and the need for balanced nutrition is anticipated to drive the growth of the market
- The awareness among farmers regarding soil nutrient deficiencies and their impact on crop health and yields is driving the rising demand for micronutrients in the United States.
- Zinc emerged as the dominant player in the micronutrient fertilizer market, accounting for approximately 27.3% of the total market value in 2022. It is projected to witness a CAGR of 5.2% from 2023 to 2030. Notably, zinc deficiency is prevalent in Washington orchards, maize, and wheat, leading to stunted growth and leaf disorders. Consequently, growers are increasingly turning to zinc fertilizers.
- In most agricultural crops, various environmental and soil factors limit the availability of iron to plants. This scarcity is expected to fuel the growth of the iron fertilizers market, which is projected to register a CAGR of 3.9% from 2023 to 2030.
- Copper is vital for enzymatic activities, chlorophyll synthesis, and seed production in plants. Field crops like wheat, barley, oats, and vegetables are particularly susceptible to copper deficiency. Given that field crops dominate the agricultural landscape in the United States, the market value of copper fertilizers in this segment is anticipated to register a CAGR of 3.7% during 2023-2030.
- Micronutrients play an important role in many plant metabolic activities, such as cell wall formation, pollen formation, germination, chlorophyll production, nitrogen fixation, and synthesis of essential parts of proteins. Even though micronutrient fertilizers are required in less quantity, they are important for balanced crop nutrition. Hence, the micronutrient fertilizer market's value is anticipated to register a CAGR of 4.0% during 2023-2030.
Understand The Key Trends Shaping This Market
United States 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.
- The awareness among farmers regarding soil nutrient deficiencies and their impact on crop health and yields is driving the rising demand for micronutrients in the United States.
- Zinc emerged as the dominant player in the micronutrient fertilizer market, accounting for approximately 27.3% of the total market value in 2022. It is projected to witness a CAGR of 5.2% from 2023 to 2030. Notably, zinc deficiency is prevalent in Washington orchards, maize, and wheat, leading to stunted growth and leaf disorders. Consequently, growers are increasingly turning to zinc fertilizers.
- In most agricultural crops, various environmental and soil factors limit the availability of iron to plants. This scarcity is expected to fuel the growth of the iron fertilizers market, which is projected to register a CAGR of 3.9% from 2023 to 2030.
- Copper is vital for enzymatic activities, chlorophyll synthesis, and seed production in plants. Field crops like wheat, barley, oats, and vegetables are particularly susceptible to copper deficiency. Given that field crops dominate the agricultural landscape in the United States, the market value of copper fertilizers in this segment is anticipated to register a CAGR of 3.7% during 2023-2030.
- Micronutrients play an important role in many plant metabolic activities, such as cell wall formation, pollen formation, germination, chlorophyll production, nitrogen fixation, and synthesis of essential parts of proteins. Even though micronutrient fertilizers are required in less quantity, they are important for balanced crop nutrition. Hence, the micronutrient fertilizer market's value is anticipated to register a CAGR of 4.0% during 2023-2030.
| Product | |
| Boron | |
| Copper | |
| Iron | |
| Manganese | |
| Molybdenum | |
| Zinc | |
| Others |
| Application Mode | |
| Fertigation | |
| Foliar | |
| Soil |
| Crop Type | |
| Field Crops | |
| Horticultural Crops | |
| Turf & Ornamental |
Need A Different Region Or Segment?
United States Micronutrient Fertilizer Market Size Summary
The United States Micronutrient Fertilizer Market is experiencing a notable expansion, driven by increasing awareness among farmers about the importance of soil nutrient deficiencies and their effects on crop health and yields. This market is characterized by the significant role of micronutrients such as zinc, iron, copper, and manganese, which are essential for various plant metabolic activities. Zinc, in particular, has emerged as a dominant component due to its critical role in addressing deficiencies in crops like maize and wheat. The market is also witnessing innovations in precise fertilizer application technologies, which help reduce costs and enhance efficiency, further contributing to its growth. The field crop sector, especially in regions like the Corn Belt, holds substantial market potential, supported by increased government funding and support.
The demand for micronutrient fertilizers is bolstered by the need to maintain balanced crop nutrition and enhance agricultural productivity, especially given the decreasing farmland area in the United States. Micronutrient fertilizers, despite being required in smaller quantities, are crucial for the proper growth of crops and are increasingly being used to combat both biotic and abiotic stresses. The market is fairly consolidated, with major players like Sociedad Quimica y Minera de Chile SA, The Andersons Inc., The Mosaic Company, Wilbur-Ellis Company LLC, and Yara International ASA dominating the landscape. Recent strategic acquisitions by key companies aim to expand their market presence and strengthen their positions in the global advanced plant nutrition sector.
United States Micronutrient Fertilizer Market Size - Table of Contents
-
1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)
-
1.1 Product
-
1.1.1 Boron
-
1.1.2 Copper
-
1.1.3 Iron
-
1.1.4 Manganese
-
1.1.5 Molybdenum
-
1.1.6 Zinc
-
1.1.7 Others
-
-
1.2 Application Mode
-
1.2.1 Fertigation
-
1.2.2 Foliar
-
1.2.3 Soil
-
-
1.3 Crop Type
-
1.3.1 Field Crops
-
1.3.2 Horticultural Crops
-
1.3.3 Turf & Ornamental
-
-
United States Micronutrient Fertilizer Market Size FAQs
How big is the United States Micronutrient Fertilizer Market?
The United States Micronutrient Fertilizer Market size is expected to reach USD 760.25 million in 2024 and grow at a CAGR of 6.05% to reach USD 1.08 billion by 2030.
What is the current United States Micronutrient Fertilizer Market size?
In 2024, the United States Micronutrient Fertilizer Market size is expected to reach USD 760.25 million.
