United States Micronutrient Fertilizer Market

United States Micronutrient Fertilizer Market Overview:

The United States micronutrient fertilizer market size reached USD 1.14 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 2.04 Billion by 2032, exhibiting a growth rate (CAGR) of 6.20% during 2024-2032. The market is driven by increasing soil micronutrient deficiencies, growing awareness about balanced crop nutrition, advancements in agricultural practices, and the rising demand for high-quality crops to meet food security and nutritional needs.

United States Micronutrient Fertilizer Market Trends:

Increasing Awareness of Soil Health

The growing awareness among farmers about soil health and balanced nutrition, driven by educational initiatives and the depletion of essential nutrients due to intensive farming practices, has increased demand for micronutrient fertilizers. In order to support this growing need, the U.S. Department of Agriculture (USDA)'s $29 million grant program aims to boost domestic fertilizer production, as announced in March 2023. By reducing reliance on foreign fertilizers and promoting American-made alternatives, this initiative seeks to enhance the agricultural supply chain's resilience, ensuring that U.S. farmers have access to high-quality fertilizers that address soil deficiencies. Together, these efforts drive the growth of the micronutrient fertilizer market in the United States by both the increasing demand and ensuring a steady supply.

Advancements in Fertilizer Technologies

Advancements in fertilizer technology are significantly propelling the growth of the United States micronutrient fertilizer market. Innovations such as chelated and slow-release fertilizers ensure that micronutrients are effectively delivered to plants over extended periods, improving nutrient uptake and reducing losses due to leaching or volatilization. These technologies enhance the efficiency of micronutrient fertilizers, making them more appealing to farmers who are looking to maximize their investment in crop nutrition. Additionally, precision agriculture technologies, including soil testing and targeted application techniques, allow for the precise application of micronutrients, minimizing waste and optimizing plant health. These technological advancements drive demand by making micronutrient fertilizers more efficient and user-friendly. For instance, in February 2023, The Andersons, Inc. launched a new range of granular micronutrients under the MicroMark DG brand. These innovative plant nutrient products use dispersing granule (DG) technology to produce uniform spherical granules that improve blending, spreading, and overall effectiveness. The DG technology enables the granules to break down into thousands of sub-particles in the soil, enhancing coverage and increasing nutrient availability for crops.

United States Micronutrient Fertilizer Market News:

• In June 2023, ICL launched a new line of water-soluble micronutrient and N-P-K fertilizers in North America under their Nova brand. These advanced foliar and fertigation solutions, including Nova FINISH, Nova PULSE, Nova ELEVATE, and Nova FLOW, are designed to maximize nutrient solubility and compatibility with herbicides and crop protectants, addressing specific crop nutrient demands. The launch aims to expand ICL’s portfolio of crop nutrition solutions, enhancing their reach in the U.S. market.
• In March 2024, Lucent BioSciences announced its expansion into the US, EU, and Latin America to enhance sustainable agriculture. In the US, Lucent Bio announced partnership with Van Diest Supply to distribute its Soileos micronutrient fertilizer to key crop regions.
• In February 2024, Helena Agri-Enterprises announced the expansion of its Zypro soil amendment label to include side-dress fertilizer applications, including micronutrient fertilizers, utilizing stabilized enzyme technology. This technology, which extends enzyme activity in soil up to 60 days, aims to enhance nutrient management and boost crop yields. The Zypro expansion allows for efficient nitrogen delivery and improved root effectiveness, supporting early-season development. Using VersaShield Formulation Technology, Zypro remains effective longer and is compatible with other products, making it a cost-effective solution for side-dress applications and beyond.

United States Micronutrient Fertilizer Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on product, application mode, and crop type.

Product Insights:

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

The report has provided a detailed breakup and analysis of the market based on the product. This includes boron, copper, iron, manganese, molybdenum, zinc, and others.

Application Mode Insights:

• Fertigation
• Foliar
• Soil
   

A detailed breakup and analysis of the market based on the application mode have also been provided in the report.. This includes fertigation, foliar, and soil.

Crop Type Insights:

• Field Crops
• Horticultural Crops
• Turf and Ornamental
   

The report has provided a detailed breakup and analysis of the market based on the crop type. This includes field crops, horticultural crops, and turf and ornamental.

Regional Insights:

• Northeast
• Midwest
• South
• West
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Northeast, Midwest, South, and West.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

United States Micronutrient Fertilizer Market Report Coverage:

Key Questions Answered in This Report:

• How has the United States Micronutrient Fertilizer market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the United States Micronutrient Fertilizer market?
• What is the breakup of the United States Micronutrient Fertilizer market on the basis of product?
• What is the breakup of the United States Micronutrient Fertilizer market on the basis of application mode?
• What is the breakup of the United States Micronutrient Fertilizer market on the basis of crop type?
• What are the various stages in the value chain of the United States Micronutrient Fertilizer market? 
• What are the key driving factors and challenges in the United States Micronutrient Fertilizer?
• What is the structure of the United States Micronutrient Fertilizer market and who are the key players?
• What is the degree of competition in the United States Micronutrient Fertilizer market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the United States Micronutrient Fertilizer market from 2018-2032
• The research report provides the latest information on the market drivers, challenges, and opportunities in the United States Micronutrient Fertilizer market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the United States Micronutrient Fertilizer industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.