Global MicroGranular Fertilizer Market Grows Steadily at a CAGR of 3.80%

Fertilizers contain chemical components that can be either natural or manufactured and help plants grow and produce more. Fertilizers can restore the chemical components that previous crops took from the soil or boost the land's natural fertility. Modern fertilizers include those containing nitrogen, potash, and phosphate. Some fertilizers also contain certain "micronutrients," such as zinc and other metals, which are crucial for plant growth. The hyper-targeted micro granules provide nutrients more closely matched to the plant's needs and facilitate absorption. Our PLANTAR participates in an innovative, earth-friendly way of fertilizer. They improve timing and fertilization effectiveness, lower leaching losses, and boost production. Market Dynamics Depleting Soil Quality and Declining Agricultural Land Drives the Global Market The rising usage of mineral fertilizers brought about an oversupply of fertilizers in the soil. The rate of fertile soil loss is predicted to be 24 billion metric tons per year, according to research presented at the 2017 United Nations Convention to Combat Desertification (UNCCD) in Ordos, China. While reducing nutrient losses such as ammonia volatilization, biodegradable polymer coatings are beneficial in the long-term conservation of soil fertility and the controlled release of nutrients into the soil. Furthermore, a study by the Grantham Centre for Sustainable Futures at the University of Sheffield discovered that intensive agricultural practices and excessive residues of non-biodegradable fertilizers have caused soil degradation to develop at a rate where erosion is 100 times faster than soil formation. Asia has the highest amount of degraded forest land because of national governments' profitable deforestation schemes. According to research by the Joint Research Centre (JRC) of the European Commission, using too much fertilizer increased yields in the near term at the expense of sustainability over the long term. Furthermore, productivity fell on 20% of the world's croplands. This is expected to enhance consumer demand for microgranular fertilizers. Technological Innovations Creates Tremendous Opportunities  The rising population creates a greater need for food, which requires more fertilizer to increase production. However, it has become more challenging for farmers to increase productivity due to the subsequent loss of arable land. Technological and scientific developments in recent years have increased the effectiveness of applying micro granular fertilizers, allowing farmers to maximize fertilizer benefits while reducing the risks of excessive, inadequate, and inappropriate use. Innovation combined with the best fertilizer management strategies in supply, rate, time, and location has produced enormous yields with no negative environmental impact. The process of creating fertilizer consumes energy. Natural gas is required for the production of dry phosphate fertilizers as well as nitrogen. Using natural gas, the cost of generating nitrogen fertilizer can be reduced by up to 90%. Both the second-largest producer of phosphate and the fourth-largest producer of nitrogen-based fertilizers in the world are in the United States. Government laws also encourage using natural gas as a fuel instead of other fuels, which positively affects demand by raising the price or disrupting the energy supply. Manufacturers are creating fewer environmentally harmful products due to the considerable environmental impact of chemical-based micro granular fertilizers, which contribute to climate change and global warming. Regional Analysis  Asia-Pacific is the most significant revenue contributor and is expected to grow at a CAGR of 3.7% during the forecast period. The red soil in southern China is typically low due to the high boron content in arid places and the lower content in moist sections. Furthermore, the extensive use of high-yielding seed varieties has raised the percentage of trace elements absorbed from the soil, resulting in micronutrient shortages across most of the country's agricultural regions. The most prevalent micronutrient deficiency in all Indian geographies is zinc insufficiency, which occurs in 36.5% of Indian soils. The abundant production of rice and wheat has also added to the zinc deficiency in the soil. The country's zinc deficit is predicted to increase India's need for zinc micro granular fertilizers. Additionally, the northern Indian states frequently experience manganese shortages in the soil due to extensive wheat production. Leaching and other processes have further reduced the amount of manganese in the soil. As a result, there has been an increased demand for manganese-based micro granular fertilizers nationwide. Government-sponsored initiatives, including the Mission for Integrated Development of Horticulture (MIDH) and the Merchandise Exports from India (MEIS), promote exporters or farmers to ship their produce, especially fruits and vegetables, to particular markets. North America is expected to grow at a CAGR of 4.00% during the forecast period. The Pioneer Company's research indicates that the use of starter fertilizers, such as micro granular fertilizer, can enhance corn seedlings when the growth of the nodal root system is impeded by the weather, constrained by the condition of the seedbed, damaged by pests, or influenced by other factors. The studies also show that beginning fertilizers, such as micro granular fertilizer, may benefit farmers who practice no-till or high-residue farming, particularly in northern states, in coarse-textured (sand or silt) soils, or in soils with low phosphorus concentrations. As a result, due to increased maize prices and changes in agricultural practices, the market need for microgranular fertilizers may rise in the upcoming years. According to the United States Soybean Sustainability Assurance Protocol, legislation and control measures for environmental protection should be continually strengthened because nitrogen losses from soybeans, one of the most extensively grown crops, represent the most significant environmental risk. This will likely boost the micro granular fertilizer market during the anticipated period. The Canadian Food Inspection Agency (CFIA) announced the reinstatement of higher tolerance levels for micronutrient fertilizers to decrease the risks of over-application and encourage the use of microgranular micronutrient fertilizers. In Southern Alberta, canola is particularly vulnerable to zinc and boron deficits. In Central and North-Central Alberta, sand-based cereal crops like wheat and barley need an adequate supply of copper micronutrient fertilizers. As a result, the market under investigation will grow as more individuals utilize micro granular fertilizers to boost crop yields and eliminate deficiencies. North American agricultural labor wages have significantly increased, which has a significant impact on farmers' income. Key Highlights The global micro granular fertilizer market was valued at USD 8,483.80 million in 2022. It is projected to reach USD 12,786.78 million by 2031, growing at a CAGR of 3.80% during the forecast period (2023-2031).  Based on product type, the global micro granular fertilizer market is bifurcated into straight fertilizers and complex fertilizers. The straight fertilizers segment is the highest contributor to the market and is estimated to grow at a CAGR of 4.00% during the forecast period. Based on crop type, the global micro granular fertilizer market is bifurcated into grains and cereals, pulses and oilseeds, commercial crops, fruits and vegetables, and other crop types. The grains and cereals segment is the highest contributor to the market and is estimated to grow at a CAGR of 4.0% during the forecast period. Asia-Pacific is the most significant revenue contributor and is expected to grow at a CAGR of 3.7% during the forecast period. Competitive Players The global micro granular fertilizer market’s major key players are ICL Group, ProPHOS Chemicals S.r.l., PLANTIN, Compo Expert GmbH, Haifa Group, Dom Terry Agrisolutions Srl, Rizobacter Argentina SA, Fertchem LLC, DeltaChem GmbH, Nouryon Holding BV, Biolchim SpA, and Valagro SpA. Market News In February 2022- ProPHOS Chemicals company reinvented itself and embarked on a path of image renewal. This ambitious project stemmed from the desire to present the company to different markets with an innovative aspect. Global MicroGranular Fertilizer Market: Segmentation By Type Straight Fertilizers Complex Fertilizers By Crop Type Grains and Cereals Pulses and Oilseeds Commercial Crops Fruits and Vegetables Other Crop Types By Regions North America Europe Asia-Pacific LAMEA