India Agricultural Micronutrients Market to Grow with a CAGR of 7.68% through 2029
According to TechSci Research report, “India Agricultural
Micronutrients Market -Industry Size, Share, Trends, Competition Forecast
& Opportunities, 2029”, the India Agricultural Micronutrients Market
stood at USD 115.36 Million
in 2023 and is anticipated to grow with a CAGR of 7.68% in the forecast period,
2025-2029. The drivers of the Agricultural Micronutrients market in India are
multifaceted. A growing population and the consequent increase in food demand
have intensified the need for high crop yield. Moreover, the shrinking arable
land in India necessitates the efficient use of soil, promoting the use of
micronutrients.
The government's initiatives promoting sustainable
farming practices and the increased awareness among farmers about the benefits
of micronutrients further stimulate the market. The advancement in farming
techniques and innovations in micronutrient delivery systems are also
significant contributors to the market growth.
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"India Agricultural Micronutrients Market”
The Indian
agricultural micronutrients market has been witnessing significant growth over
the last few years. This can be attributed to several key factors such as
rising population, increasing awareness about the benefits of micronutrients,
and greater governmental efforts to improve agricultural productivity. India,
with its diverse climatic conditions, supports a broad range of agricultural
activities. However, its soils have been found to be deficient in several
micronutrients that are crucial for crop health and yield. Micronutrients such
as zinc, iron, manganese, and boron play important roles in various plant
processes including photosynthesis, plant growth, and crop yield.
Furthermore, the
rising population in India has put immense pressure on the agricultural sector
to increase crop production. This led to the extensive use of chemical
fertilizers that, while boosting crop yield, has also resulted in the depletion
of micronutrients in the soil over time. Therefore, the demand for agricultural
micronutrients to replenish these essential elements in the soil has been on
the rise.
Moreover, the
Indian government has made significant efforts to promote the use of
agricultural micronutrients. Initiatives such as the Soil Health Card Scheme,
which provides information to farmers about the nutrient status of their soils,
have been instrumental in raising awareness about the importance of
micronutrients. The government has also promoted the use of micronutrient
fertilizers through subsidies, further driving market growth. The Indian
agricultural micronutrients market is also strongly driven by an increasingly
informed farming community. With improved access to information through the
internet and government initiatives, farmers are more aware of the benefits of
micronutrients in improving crop health and yield. As a result, there has been
a shift towards the increased adoption of agricultural micronutrients.
In terms of
challenges, one of the primary issues faced by the Indian agricultural
micronutrients market is the lack of standardized regulations for micronutrient
application. Inconsistent recommendations for micronutrient application rates
often lead to either overuse or underuse, both of which can have harmful
effects on crop health and soil fertility. Overall, while there are certain
challenges that need to be addressed, the future of the Indian agricultural
micronutrients market looks promising. As awareness continues to rise and the
government increases its support for the sector, the market is expected to
witness robust growth in the coming years.
The India Agricultural
Micronutrients Market is segmented into form, type, mode of application, crop
type, regional distribution, and company
Based on crop
type, in India, the Agricultural Micronutrients market is predominantly driven
by the Cereals & Grains segment. With rice, wheat, and maize being staple
foods in the country, the demand for micronutrients geared towards these crops
has seen a significant surge. This trend is expected to continue due to the
consistent focus on improving crop yield and quality, combatting malnutrition,
and catering to the growing population. Furthermore, the agricultural sector in
India has witnessed a remarkable transformation in recent years, with
advancements in farming techniques, irrigation systems, and crop management
practices. This has further accentuated the need for micronutrient
supplementation in order to optimize plant growth, increase nutrient uptake,
and enhance overall agricultural productivity.
As the
government continues to prioritize sustainable agriculture and food security,
there is a growing emphasis on the adoption of micronutrient-rich fertilizers
and soil amendments. These interventions not only address the nutritional
deficiencies in the soil but also contribute to the long-term sustainability of
the agricultural industry. The Agricultural Micronutrients market in India is
poised for continued growth, driven by the increasing demand for cereals and
grains, the focus on improving crop yield and quality, and the government's
commitment to combating malnutrition. By leveraging the potential of
micronutrient supplementation, farmers can effectively meet the challenges of
feeding a growing population while ensuring the sustainability of the
agricultural sector.
Based on region,
the dominance of West India in the Indian Agricultural Micronutrients Market
can be attributed to a combination of factors. One of the significant elements
is the region's diverse agricultural practices, which encompass a wide range of
crops and cultivation techniques. This diversity creates a demand for various
micronutrients that are essential in optimizing crop yields and ensuring their
overall health and vitality. Moreover, the proactive government initiatives in
West India play a crucial role in promoting the adoption of micronutrients
among farmers. The government's focus on agricultural development and
sustainable farming practices encourages farmers to incorporate micronutrients
into their crop management strategies. This not only enhances the quality and
quantity of agricultural produce but also contributes to the overall growth of
the local market for micronutrients.
Furthermore, the
presence of robust distribution networks in West India ensures the easy
accessibility of micronutrients to farmers across the region. This streamlined
supply chain facilitates the timely availability of micronutrient products,
enabling farmers to efficiently meet their crop nutrition requirements. Such
accessibility and convenience further contribute to the dominance of West India
in the Indian Agricultural Micronutrients Market.
Major companies
operating in India Agricultural Micronutrients Market are:
- Aries Agro Ltd.
- Coromandel International Ltd.
- Zuari Agrochemicals Ltd.
- BASF India Ltd.
- Deepak Fertilisers and Petrochemicals Corporation Ltd.
- Clean Agro Fertilizer And Chemical Pvt. Ltd.
- Yara Fertilisers India Pvt. Ltd.
- Indian Farmers Fertiliser Cooperative Ltd.
- Roop Rasayan Industries Pvt. Ltd.
- DCM Shriram Farm Solutions
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“India's
Agricultural Micronutrients Market is expected to experience substantial growth
in the forthcoming years. As one of the largest agrarian countries in the
world, India consistently strives to enhance both crop yield and quality. In
this pursuit, micronutrients emerge as an effective solution by addressing soil
deficiencies and promoting optimal crop health. The market growth is further
propelled by the heightened awareness of the significance of micronutrients,
government initiatives aimed at promoting sustainable farming practices, and
the increasing adoption of precision agriculture techniques. These factors
collectively contribute to the promising future of India's Agricultural
Micronutrients Market, fostering innovation and advancements in the
agricultural sector.,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“India Agricultural
Micronutrients Market By Form (Chelated and Non-Chelated), By Type (Zinc,
Cooper, Boron, Iron, Manganese, Others), By Mode of Application (Soil, Foliar,
Fertigation, Others), By Crop Type (Cereals & Grains, Oilseeds & Pulses,
Fruits & Vegetables, Others), By Region, Competition, Forecast &
Opportunities, 2019-2029F”,
has evaluated the future growth potential of India Agricultural Micronutrients
Market and provides statistics & information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in India Agricultural
Micronutrients Market.
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