Sulfur Based Micronutrients Market Size

Sulfur Based Micronutrients Market Size

Sulfur Based Micronutrients Market size achieved USD 411.9 million in 2023 and will grow at 9% CAGR from 2024 to 2032, due to increased awareness of the role of micronutrients in agricultural productivity. Sulfur-based micronutrients, such as bentonite, zinc, manganese, iron, and copper, are critical in improving soil fertility and crop output.

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As a result, farmers and agricultural businesses are increasingly using these goods to meet increased food demand caused by a growing worldwide population. According to a report by the Food and Agriculture Organization (FAO), global food demand is projected to increase by 70% by 2050. Furthermore, the change to sustainable agriculture techniques, as well as an emphasis on enhancing crop quality and nutritional content, are driving up demand for sulfur-based micronutrients. The International Fertilizer Association (IFA) also notes that the use of micronutrients in agriculture has grown by 5% annually over the past decade.
 

For instance, according to a comparison of major food crop production from 2021-2022 to 2022-2023, oilseed production has increased by 17%, followed by sugarcane (11.63%), cotton (8.20%), and food grains (4.46%). Soybean production climbed by 15.41%, followed by rapeseed and mustard (5.69) and groundnut (1.58%). While foodgrains production reveals that output of maize and coarse cereals climbed by 12%, but that of pulses, gram, and tur fell, with tur production indicating a considerable reduction of 21.56%.
 

In addition, according to FAO (2021), India is the world's greatest producer of ginger and okra, as well as the second largest producer of potato, onion, cauliflower, brinjal, cabbage, and other vegetables. India is the world's second largest producer of vegetables, accounting for 15% of total production, however its average productivity of 17 mt/ha is low when compared to several other producing countries.
 

Over the last decade, the market for sulfur-based micronutrients has changed dramatically. Initially, it was driven by the need to correct micronutrient deficiencies in soil, which were affecting crop productivity. However, with developments in agricultural science and technology, the emphasis has switched to increasing the efficiency and efficacy of these goods. Precision farming techniques, such as soil testing and variable rate treatment, have become more widely used, allowing farmers to apply the right amount of micronutrients at the right time.