As agriculture strives to meet the demands of growing populations and soil nutrient depletion, agricultural micronutrients have emerged as a vital input in modern crop nutrition. These essential trace elements—such as zinc, iron, manganese, boron, copper, and molybdenum—play a pivotal role in improving plant health, productivity, and crop quality. According to Pristine Market Insights, the 2024 global market for agricultural micronutrients reveals a competitive landscape led by both agrochemical giants and specialized firms.
🧪 Why Micronutrients Matter in Agriculture
While required in small quantities, micronutrients are essential for:
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Enzyme activation and metabolic functions
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Photosynthesis and chlorophyll formation
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Root development and disease resistance
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Enhancing flowering, fruit set, and seed formation
Micronutrient deficiencies are becoming widespread due to intensive cropping, soil erosion, and overuse of NPK fertilizers—making supplemental application essential.
🌍 Top Companies in the Global Micronutrient Market (2024)
Here is a breakdown of the top players shaping the agricultural micronutrients market this year:
🔹 1. BASF SE – 11.6%
BASF leads the pack with a strong global presence and a comprehensive range of micronutrient products, including chelated and foliar formulations.
🔹 2. Nutrien Ltd. – 10.7%
Nutrien combines its vast retail distribution network with high-quality micronutrient products, ensuring access across major agricultural economies.
🔹 3. Yara International – 9.5%
Yara emphasizes balanced nutrition through precise micronutrient blends, particularly for high-value crops and precision farming systems.
🔹 4. Mosaic Company – 9.2%
Mosaic leverages its phosphate expertise to offer premium micronutrient-enriched fertilizers for crops needing phosphorus and trace elements.
🔹 5. Nufarm Limited – 8.5%
Nufarm continues its growth in the micronutrient space through innovative liquid formulations and compatibility with foliar and fertigation systems.
🔹 6. Coromandel International – 7.8%
One of India’s leading agri-input companies, Coromandel is expanding its micronutrient offerings in response to regional soil deficiency patterns.
🔹 7. Haifa Group – 6.9%
Renowned for specialty crop nutrition, Haifa provides water-soluble micronutrients ideal for drip irrigation and controlled environment agriculture.
🔹 8. Nouryon – 5.7%
With deep roots in specialty chemicals, Nouryon is carving a niche with stable, efficient chelated micronutrient solutions.
🔹 9. Corteva Agriscience – 4.6%
Corteva brings proprietary research and regional adaptation to its micronutrient line, targeting improved crop resilience.
🔹 10. Sinochem Group – 3.9%
This Chinese giant integrates research and distribution to provide micronutrient products tailored to Asia-Pacific cropping systems.
🔹 Others – 21.2%
A significant portion of the market is held by regional players and emerging manufacturers meeting localized demand.
📈 Key Growth Drivers in 2024
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Soil Health Awareness: Farmers are increasingly testing soils and addressing deficiencies with targeted micronutrient applications.
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High-Value Crops: Fruits, vegetables, and ornamentals demand precision nutrition, making micronutrients critical to yield and quality.
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Integration with Fertigation & Foliar Feeding: Liquid micronutrients compatible with drip irrigation and foliar sprays are becoming mainstream.
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Government Initiatives: Many governments, especially in Asia and Africa, are supporting micronutrient application under balanced fertilization programs.
🔮 Market Outlook: What's Next?
The agricultural micronutrients market is expected to grow steadily, driven by:
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Expansion of precision farming and digital agriculture
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Development of bioavailable and nano-form micronutrients
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Increasing focus on sustainable intensification
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Research into crop-specific and soil-specific formulations
As micronutrient deficiencies become more widespread and awareness grows, companies offering innovative, bioavailable, and crop-compatible solutions are poised for long-term success.
Conclusion
In 2024, the global micronutrient fertilizer market stands at the crossroads of innovation, sustainability, and necessity. With leaders like BASF, Nutrien, and Yara paving the way, the focus is shifting from generalized fertilization to targeted, data-driven, and deficiency-corrective nutrition—positioning micronutrients as indispensable tools for future farming success.
References:
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Pristine Market Insights (2025), “Global Agricultural Micronutrients Revenue Share by Company – 2024”
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FAO: Micronutrient Management in Agriculture
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IFA: Nutrient Use Efficiency and Plant Health Reports
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