India Agriculture Micronutrients Market 2024–2033

Reports Description

India Agriculture Micronutrients Market was valued at USD 590.8 Million in 2023 and is expected to reach USD 1132.2 Million by 2032, at a CAGR of 8.9% during the forecast period 2023 – 2032.

Agriculture micronutrients refer to essential trace elements required by plants in relatively small quantities for optimal growth and development. These micronutrients, including elements such as iron, zinc, copper, manganese, molybdenum, and boron, play crucial roles in various physiological and biochemical processes within plants, influencing overall crop health, yield, and quality.

India Agriculture Micronutrients Market: Growth Factors

Growing focus on improving crop yields

The emphasis on enhancing crop yields is a driving force behind the growth of the agriculture micronutrients market in India. As farmers strive for increased productivity, there is a growing recognition of the pivotal role micronutrients play in optimizing plant growth, development, and overall crop performance.

Micronutrient deficiencies can significantly hinder yields and crop quality. In response, there is a heightened adoption of micronutrient-rich fertilizers to address soil nutrient imbalances and ensure plants receive essential trace elements.

Moreover, the awareness of micronutrient benefits, coupled with agricultural advancements, is prompting farmers to integrate these supplements into their cultivation practices. The evolving focus on maximizing agricultural output underscores the pivotal role of micronutrients in sustainable and productive farming, propelling the growth of the agriculture micronutrients market in India.

For instance, India’s agricultural sector lags behind the global average in the consumption of micro-nutrients, as reported by the International Zinc Association (IZA). A recent shift in Indian consumer preferences towards healthier food options, contributing to increased demand for high-value crops, is driving the necessity for micro-nutrients in the country’s agriculture industry.

Rising usage of biodegradable chelates propels market growth

The utilization of biodegradable chelates is propelling the India agriculture micronutrient market by addressing environmental concerns and enhancing sustainable agricultural practices. Biodegradable chelates, such as amino acids and organic acids, function as carriers for micronutrients, aiding in their efficient absorption by plants.

This eco-friendly approach reduces environmental impact by minimizing soil and water contamination. The emphasis on sustainable farming practices led to an increased adoption of biodegradable chelates, boosting the micronutrient market.

Moreover, the demand for organic produce has heightened the need for environmentally conscious farming solutions. The use of biodegradable chelates not only supports crop health and yield but aligns with the growing preference for ecologically responsible agriculture, driving positive changes in India’s agricultural landscape.

For instance, Innospec introduced ENVIOMET® C, addressing the demand for superior chelating performance with biodegradability and minimal environmental impact. This innovation enhances the Indian agriculture micronutrients market by serving as an efficient carrier for essential micronutrients, ensuring optimal bioavailability to crops.

ENVIOMET® C mitigates compatibility issues in tank mix and contributes to sustainable farming practices, aligning with the evolving preferences for environmentally conscious agricultural solutions in India.

India Agriculture Micronutrients Market: Restraints

Lack of awareness about the importance of micronutrients for soil health and crop productivity

The Indian agriculture micronutrients market faces hindrances due to a lack of awareness regarding the pivotal role of micronutrients in soil health and crop productivity. Farmers often overlook the significance of micronutrients such as zinc, iron, and manganese, leading to imbalances that adversely affect crop growth.

Insufficient knowledge about micronutrient deficiencies results in suboptimal yields, impacting overall agricultural productivity. Inadequate awareness also contributes to the improper application of micronutrient fertilizers, further limiting their efficacy. Educating farmers about the essential role micronutrients play in enhancing soil fertility, plant metabolism, and overall crop health is crucial.

Increased awareness programs and educational initiatives are necessary to empower farmers with the knowledge needed to make informed decisions, fostering a more sustainable and productive agriculture micronutrient market in India.

Stringent rules for approval of Agriculture Micronutrients

Stringent regulatory requirements are a barrier to the Indian agriculture micronutrient market as they are restraining the development and introduction of new products and technologies. Some of the factors contributing to this reluctance are:

• Chemical Composition: Micronutrient products must adhere to specified standards regarding their chemical composition, ensuring that the ingredients meet defined quality and purity criteria.

• Environmental Impact: Products are evaluated for their environmental impact, and approval may require compliance with regulations related to toxicity, bioaccumulation, and persistence in soil or water.

• Health and Safety Standards: Compliance with health and safety standards is crucial, ensuring that the use of micronutrients does not pose risks to farmers, consumers, or the environment.

India Agriculture Micronutrients Market: Opportunities

Government programs promote micronutrient awareness through field demonstrations

Government programs play a pivotal role in fostering awareness and usage of micronutrients in Indian agriculture through multifaceted initiatives. Field demonstrations showcase the benefits of micronutrient application, providing practical insights to farmers.

Training programs impart knowledge on optimal micronutrient usage, addressing crop-specific needs. Subsidies on micronutrient fertilizers make them more accessible to farmers, encouraging widespread adoption.

For instance, the Government of India executed the Soil Health Management & Soil Health Card Schemes as part of the National Project on Soil Health & Fertility under the National Mission for Sustainable Agriculture. The Soil Health Card provides farmers with valuable information about their soil’s nutrient status, offering recommendations for the appropriate dosage of nutrients to enhance soil health and productivity.

These initiatives are now unified under the Soil Health & Fertility component of the Rashtriya Krishi Vikas Yojana (RKVY), consolidating efforts to promote sustainable agriculture practices and efficient soil management.

India Agriculture Micronutrients Market: Segmentation Analysis

India Agriculture Micronutrients market is segmented by type, crop type, form, mode of application and region.  Based on type, the market is classified into zinc, boron, iron, molybdenum, copper, and others. Zinc dominated the market in 2022 with a market share of 35% and is expected to keep its dominance during the forecast period 2024-2032.

Zinc plays a pivotal role in propelling the India agriculture micronutrient market due to its essential functions in plant growth and development. As a micronutrient, zinc is crucial for various physiological processes, including enzyme activation, photosynthesis, and hormone synthesis in plants.

The prevalence of zinc deficiency in Indian soils has led to an increased demand for zinc-containing micronutrient fertilizers. Zinc’s role in improving crop resilience, nutrient absorption, and overall agricultural productivity positions it as a key driver shaping the growth trajectory of the agriculture micronutrient market in India.

Based on crop type, the market is segmented into fruits & vegetables, cereals & grains, oilseeds & pulses and others. Cereals & grains dominated the market in 2022 with a market share of 40% and is expected to keep its dominance during the forecast period 2024-2032.

Cereals and grains play a pivotal role in driving the India agriculture micronutrient market due to their widespread cultivation and nutritional significance. As staple crops, cereals and grains are essential components of the Indian diet, necessitating optimal nutrient levels for both quantity and quality. Micronutrients, such as zinc, iron, and manganese, are critical for the healthy growth and development of these crops.

Based on form, the market is segmented into chelated and non-chelated. Non-chelated micronutrients dominated the market in 2022 with a market share of 65% and is expected to keep its dominance during the forecast period 2024-2032.

Non-chelated micronutrients are gaining prominence in the Indian agriculture micronutrients market due to their direct availability to plants without chelating agents. The simplicity and cost-effectiveness of non-chelated micronutrients contribute to their growing adoption in Indian agriculture, driving market expansion.

Based on the mode of application, the market is segmented into soil, foliar, fertigation and others. Soil dominated the market in 2022 with a market share of 55% and is expected to keep its dominance during the forecast period 2024-2032. The composition of soil plays a pivotal role in propelling the India agriculture micronutrient market.

Soil characteristics influence the availability of essential micronutrients to crops. As farmers address soil deficiencies through micronutrient supplements, the market experiences growth driven by the necessity to optimize soil health for enhanced agricultural productivity.

Report Scope

India Agriculture Micronutrients Market: Regional Analysis

India Agriculture Micronutrients market is segmented into South India, North India, West India and East India. South India dominated the global market in 2022 with a market share of 45% in 2022 and is expected to keep its dominance during the forecast period 2024-2032.

South India significantly propels the Indian agriculture micronutrient market due to its emphasis on diverse and high-value crops. The region’s focus on horticulture, floriculture, and plantation crops intensifies the demand for micronutrients to enhance soil fertility and crop productivity.

As farmers prioritize sustainable agriculture, the demand for micronutrients, especially those aligned with eco-friendly practices, experiences substantial growth, making South India a key driver in shaping the dynamics of the broader agriculture micronutrients market in the country.

India Agriculture Micronutrients Market: Recent Developments

• In June 2019, Indian Farmers Fertilisers Cooperative Limited (IFFCO), signed a take-or-pay agreement with Sirius Minerals Plc, to supply POLY4 in the Indian market.

• In July 2022, Anand Agro Care unveiled two innovative product categories, namely Anand Agro Care’s Dr Bacto’s 4K and Anand Agro Care’s Dr Bacto’s 5G. These products are glucose-based, environmentally friendly, and biodegradable gelatinous capsules are particularly well-suited for organic farming applications.

• In May 2023, Aries Agro Limited initiated the “100 Days Drone Yatra” program, offering micronutrient spraying services for crops using drones. This initiative is well-suited for extensive fields, effectively minimizing both time and labour costs through the strategic use of drone technology.

List of the prominent players in the India Agriculture Micronutrients Market:

• Coromandel International Limited
• Tata Chemicals Limited
• Gujarat State Fertilizers & Chemicals Ltd.
• Indian Farmers Fertiliser Cooperative Limited
• Rashtriya Chemicals and Fertilizers Ltd.
• Chambal Fertilisers and Chemicals Limited
• Zuari Agro Chemicals Ltd.
• Deepak Fertilisers and Petrochemicals Corporation Limited
• National Fertilizers Limited
• UPL Limited
• BASF India Limited
• Yara Fertilisers India Pvt. Ltd.
• Haifa Chemicals Ltd.
• Aries Agro Limited
• DCM Shriram Limited
• Nagarjuna Fertilizers and Chemicals Limited
• Rallis India Limited
• Gujarat Narmada Valley Fertilizers & Chemicals Ltd. (GNFC)
• Greenstar Fertilizers Limited
• Nutrient Technologies India Private Limited
• Others

These key players are adopting various growth strategies such as mergers & acquisitions, joint ventures, expansion, strategic alliances, new product launches, etc. to enhance their business operations and revenues.

The India Agriculture Micronutrients Market is segmented as follows:

By Type

• Zinc
• Boron
• Iron
• Molybdenum
• Copper
• Others

By Crop Type

• Fruits & Vegetables
• Cereals & Grains
• Oilseeds & Pulses
• Others

By Form

• Chelated
• Non-Chelated

By Mode of Application

• Soil
• Foliar
• Fertigation
• Others