The global sulfur based micronutrients market is projected to grow from USD 449 million in 2024 to USD 685 million by 2029, at a CAGR of 8.8% during the forecast period. This report provides an in-depth evaluation of the market, focusing on sulfur based micronutrients market size, trends, drivers, challenges, competitive landscape, and future growth potential. The sulfur based micronutrients market is driven by its wide range of applications in different sectors. Sulfur based micronutrients are widely used in agriculture as vital ingredients in fertilizers, enhancing crop output and improving soil fertility. Sulfur based micronutrients help in improving the crop yields by improving the nutrient uptake ability of plants and by enhancing the soil health structure. Moreover, the market’s expansion is also fueled by the world’s growing need for agrochemicals, the growing emphasis on sustainable farming methods, and increased R&D expenditure to tackle the global food security concerns.
Companies such as Nutrien Ltd. (Canada), Yara International (Norway), The Mosaic Company (US), ICL (Israel), and K+S Aktiengesellschaft (Germany) fall under the winners’ category. These are leading players in the sulfur based micronutrients market globally. These players have adopted the strategies of partnerships, expansions, acquisitions, and investments to increase their market shares.
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Nutrien Ltd.
Nutrien Ltd. was formed as a result of a merger between Agrium Inc. and Potash Corporation of Saskatchewan Inc. The company specializes in crop nutrition and is one of the leading producers and distributors of potash, phosphate, and nitrogen products around the world. It operates under four segments including retail, potash, nitrogen, and phosphate.
The company provides complete agricultural solutions like nutrients, crop protection products, seed, service, and digital tools through these segments. It provides sulfur-based micronutrients through its subsidiary Loveland Products, Inc.
It has a network of over 2,000 retail selling locations located in seven countries across North America, Australia, and South America. The company also has over 4,000 crop consultants and it marks its global presence in North America, South America, APAC, and Europe.
Yara International
Yara International is one the leading crop nutrition companies. It offers industrial solutions, and its focus extends beyond just providing nitrogen-based mineral fertilizers, encompassing phosphate, potash, and specialty blends to nourish various crops. The company operates through three segments: fertilizer and chemical products, freight/ insurance services, and other products and services.
The company offers products and solutions such as crop nutrition, digital farming, industrial nitrogen, and crop and agronomy knowledge. It marks its global presence in 140 countries located across North America, South America, Europe, Africa, and APAC. The company also has 26 production plants and more than 10,000 Yara-branded retail outlets around the world.
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The Mosaic Company
The Mosaic Company is one of the leading integrated manufacturers of concentrated potash and phosphate. The company is involved in all the stages of agricultural nutrition, from resource extraction to the creation of feed, industrial goods, and crop nutrients for customers worldwide. It extracts, refines, and exports millions of tons of quality fertilizers and potash annually.
The company operates through six business segments including phosphate crop nutrients, potash crop nutrients, crop nutrient blends, performance products, phosphate rock, and others. It provides its products and services under numerous labels including MicroEssentials, Pegasus, Aspire, and K-Mag. The company marks its global presence by providing its products and services in various countries located across North America, South America, Middle East and Asia.
ICL
ICL is one of the leading specialty minerals companies that focuses on sustainability while developing solutions that cater to the global agriculture, food, and industrial markets. The company specializes in agriculture, food, engineered materials, science, and chemicals. It also has five innovation domains including, Next Generation Fertilization, eMobility and Sustainability, Food Tech, Digital Agriculture, and Novel Materials.
The company operates through five business segments including industrial products, potash, phosphate solutions, growing solutions, and other activities. It marks its global presence through its 38 production sites in 13 countries and 60 logistics and sales services in over 30 countries located across Europe, Asia, South America, North America, and Africa.
K+S Aktiengesellschaft
K+S Aktiengesellschaft is a multinational raw materials corporation with locations in North America and Europe. The company is also one of the leading salt producers and is among the main providers of potash internationally. The firm marks its specialties in various sectors including potash, fertilizer, mining, salt, agriculture, industry, and de-icing salt sector. It operates under two segments that are Agriculture and Industry+.
Apart from its emphasis on the agricultural sector, the company also develops products like pharmaceutical salts, dietary supplements, and industrial products. The company follows a value chain of six categories in the potash and magnesium products and salt business segments, that are exploration, production, logistics, distribution/marketing, and application. The company marks its global presence through its 50 production sites located across North America, South America, Europe, and some additional distribution sites located in Asia and Africa.
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By type, the sulfur-bentonite micronutrients is expected to account for the largest share of the sulfur-based micronutrient market during the forecast period, in terms of value.
Sulfur-bentonite in sulfur based micronutrients market is accounted for the largest segment in terms of value. This dominance is attributed to several key advantages of sulfur-bentonite micronutrients. This blend of sulfur based micronutrients provides a concentrated amount of sulfur, which is essential for plant health and productivity, first. Second, bentonite serves as a transporter, enhancing sulfur’s gradual release and enhancing crops’ ability to absorb nutrients. Sulfur bentonite is an effective and long-lasting option for farmers because of its focused delivery, especially in the highly competitive oilseed market.
By application, fruits & vegetables are expected to account for the largest market share during the forecast period in terms of value.
Fruits & vegetables account for the largest segment in terms of value in the sulfur based micronutrients market during the forecast period. Sulfur based micronutrients find their largest application share in agriculture due to their vital role as nutrients to enhance crop yields. Moreover, sulfur also improves color and disease resistance. Consequently, this increases consumer demand for fruits and vegetables grown with sulfur-based micronutrients, increasing this application’s market share in the sulfur-based micronutrient market.
Asia Pacific is projected to register the largest market share during the forecast period.
The Asia Pacific region holds the largest share in the sulfur based micronutrients market primarily due to the growth in agriculture. This dominance is driven by multiple factors. Like the area has a large amount of land used for agriculture, mostly for fruits and vegetables, which greatly benefit from sulfur in terms of quality and quantity. Moreover, there is also a continuing need for more food to be produced due to the growing populations of nations like China and India. Sulfur based micronutrients provide a productive means of increasing crop yields on presently occupied land.
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