India Agriculture Micronutrients Market Size, Growth, Demand, Forecast to 2033

Description

India Agriculture Micronutrients Market Overview

India’s agricultural landscape has faced significant challenges due to extensive farming practices, including the widespread use of chemical fertilizers and crop residue burning, which have degraded soil quality and impacted consumer health. However, in recent years, there has been a growing awareness among farmers regarding the importance of soil health. This shift in understanding has led to improved agricultural practices, as farmers increasingly recognize the strong correlation between soil health, plant growth, and crop yield. Consequently, the agricultural micronutrients market in India is poised for substantial growth in the coming years.

The country’s ongoing information technology revolution, advancements in agricultural technologies, increased investments in research and development, and government initiatives aimed at supporting smallholder farmers are all contributing to the evolution of Indian agriculture. Micronutrient deficiencies, which can significantly hamper crop yields and quality, have prompted a rise in the adoption of micronutrient-rich fertilizers. These fertilizers help address soil nutrient imbalances and ensure that plants receive essential trace elements.

The increased awareness of micronutrient benefits, combined with agricultural advancements, is driving farmers to incorporate these supplements into their cultivation practices. As the focus on maximizing agricultural output intensifies, micronutrients play an essential role in sustainable and productive farming, further fueling the growth of the agriculture micronutrients market in India.

This market is experiencing promising growth due to the increasing emphasis on crop nutrition within India’s agricultural sector. The expanding population, the emergence of advanced technologies, and government support aimed at promoting the use of micronutrients to improve crop health and yield are expected to drive market growth in the coming years.

India Agriculture Micronutrients Market: Growth Dynamics

India’s intensive farming practices, coupled with environmental changes such as global warming, have contributed to the depletion of soil micronutrients. This depletion has adversely affected crop yields, leading to significant crop losses. Additionally, the lack of timely soil testing has hindered the sustainable production of agricultural crops. Fortifying fertilizers with essential micronutrients is a practical solution to these challenges, as micronutrients can address a wide range of soil conditions and problems.

The global demand for high-quality, fully-developed fruits, vegetables, horticultural products, and ornamental crops is further boosting the demand for micronutrient-enriched fertilizers. These fertilizers are gaining widespread recognition as the ideal solution for modern sustainable agriculture.

One notable trend driving the growth of the Indian agriculture micronutrient market is the increasing use of biodegradable chelates. These eco-friendly chelates, such as amino acids and organic acids, act as carriers for micronutrients, enhancing their absorption by plants. This approach minimizes environmental impact by reducing soil and water contamination. The growing emphasis on sustainable farming practices has led to a surge in the adoption of biodegradable chelates, further propelling the micronutrient market.

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India Agriculture Micronutrients Market: Restraints

Despite the market’s growth, several challenges persist. A significant obstacle is the lack of awareness among farmers regarding the crucial role of micronutrients in soil health and crop productivity. Many farmers overlook the importance of micronutrients such as zinc, iron, and manganese, leading to imbalances that negatively affect crop growth. Insufficient knowledge about micronutrient deficiencies results in suboptimal yields, ultimately impacting overall agricultural productivity. Furthermore, improper application of micronutrient fertilizers due to inadequate awareness limits their effectiveness. Educating farmers about the essential role of micronutrients in enhancing soil fertility, plant metabolism, and crop health is critical to overcoming these challenges.

India Agriculture Micronutrients Market: Opportunities

Government programs play a pivotal role in promoting the use of micronutrients in Indian agriculture through various initiatives. Field demonstrations offer practical insights into the benefits of micronutrient application, while training programs educate farmers on the optimal use of micronutrients for specific crops. Additionally, subsidies on micronutrient fertilizers make them more accessible to farmers, encouraging widespread adoption and fostering market growth.

Key Players in the India Agriculture Micronutrients Market:

• BASF India Limited
• Yara Fertilisers India Pvt. Ltd.
• Haifa Chemicals Ltd.
• Aries Agro Limited
• DCM Shriram Limited
• Rashtriya Chemicals and Fertilizers Ltd.
• Chambal Fertilisers and Chemicals Limited
• Zuari Agro Chemicals Ltd.
• Coromandel International Limited
• Tata Chemicals Limited
• Gujarat State Fertilizers & Chemicals Ltd.
• Indian Farmers Fertiliser Cooperative Limited
• Deepak Fertilisers and Petrochemicals Corporation Limited
• National Fertilizers Limited
• UPL 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

India Agriculture Micronutrients Market Segmentation Analysis

The market is segmented based on type, source, application, and crop type.

By Type: The market includes zinc, boron, iron, molybdenum, manganese, and others. Micronutrients are essential for plant growth and play a crucial role in supporting crop nutrition. Zinc deficiency, a major concern among Indian farmers, affects hormone production, leading to stunted growth. Iron, on the other hand, is vital for chlorophyll formation and acts as an oxygen carrier in legume roots. The growing awareness of these benefits is driving the demand for specific micronutrient fertilizers.

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

By Source: The market is divided into chelated and non-chelated micronutrients. Chelated micronutrients, which are organic molecules that enhance metal ion availability for efficient plant uptake, are gaining traction due to increased knowledge among farmers. However, non-chelated micronutrients remain popular due to their wider availability and ease of application, particularly among low-income farmers.

• Chelated
• Non-Chelated

By Application: The market includes soil, foliar, and fertigation applications. Soil application remains the most effective and widely adopted method due to its low cost and ease of use. However, foliar application is expected to witness significant growth due to its uniform application and increasing manufacturer investments in commercializing foliar products.

• Soil
• Foliar
• Fertigation
• Others

By Crop Type: The market is segmented into cereals, pulses and oilseeds, fruits and vegetables, and others. The cereal segment is projected to dominate the market due to the increasing prevalence of nutrient loss in crops like wheat and rice. The demand for high-quality oilseeds, pulses, and fruits & vegetables is also driving the need for micronutrient fertilizers, particularly in response to rising consumer demand for nutritious crops.

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

India Agriculture Micronutrients Market: Regional Analysis

The market is geographically segmented into South India, North India, West India, and East India. South India led the market in 2022 and is expected to maintain its dominance through the forecast period (2024-2032). The region’s emphasis on diverse and high-value crops, such as horticulture, floriculture, and plantation crops, drives the demand for micronutrients to enhance soil fertility and crop productivity. As farmers in South India prioritize sustainable agriculture, the demand for micronutrients, especially those aligned with eco-friendly practices, continues to grow, making the region a key player in shaping the overall market dynamics in India.

BASF India Limited
Yara Fertilisers India Pvt. Ltd.
Haifa Chemicals Ltd.
Aries Agro Limited
DCM Shriram Limited
Rashtriya Chemicals and Fertilizers Ltd.
Chambal Fertilisers and Chemicals Limited
Zuari Agro Chemicals Ltd.
Coromandel International Limited
Tata Chemicals Limited
Gujarat State Fertilizers & Chemicals Ltd.
Indian Farmers Fertiliser Cooperative Limited
Deepak Fertilisers and Petrochemicals Corporation Limited
National Fertilizers Limited
UPL 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