Global Sulfur Based Micronutrients Market Insights Forecasts to 2033

• The Global Sulfur Based Micronutrients Market Size was Estimated at USD 413.0 Million in 2023
• The Market Size is Expected to Grow at a CAGR of around 8.63% from 2023 to 2033
• The Worldwide Sulfur Based Micronutrients Market Size is Expected to Reach USD 945.0 Million by 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period.

The Global Sulfur Based Micronutrients Market Size is anticipated to exceed USD 945.0 Million by 2033, growing at a CAGR of 8.63% from 2023 to 2033. The growing application of sulfur based micronutrients in agriculture and the growth of the agricultural markets which have given the chance to enter new markets and meet a variety of crop needs bolstered the sulfur based micronutrients market growth.

Market Overview

The sulfur based micronutrients market refers to the market for sulfur based products used to enhance soil fertility and crop output. Sulfur based micronutrients are essential macronutrient plant fertilizers containing sulfur which is required for chlorophyll synthesis, protein formation, and nitrogen metabolism. These products include bentonite, zinc, manganese, iron, and copper. The adoption of controlled-release sulfur fertilizers, the use of organic sulfur sources, and the integration of sulfur-based micronutrients with other crop inputs are the several trends in the sulfur based micronutrients market. Furthermore, sulfur-based micronutrients are an appealing option for nutrient supplementation as sulfur is a natural and eco-friendly way to help with nutritional shortages as it is necessary for plant growth and development, fitting well with the organic principles. Thus, the demand for organic products and priority for organic agricultural practices are providing lucrative market growth opportunities. Further, emphasis on sustainable farming and increased demand for fresh and nutrient-dense food are propelling the market demand for sulfur based micronutrients.

Report Coverage

This research report categorizes the sulfur based micronutrients market based on various segments and regions forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the sulfur based micronutrients market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the sulfur based micronutrients market.

Driving Factors

The increasing need for sulfur in fertilizers along with the surging demand for high-quality crops is driving the sulfur based micronutrients market. There is a high demand for sulfur based micronutrients in the form of fertilizers in agriculture as they are crucial for improving crop output and soil fertility. It also improves the structure of the soil and the efficiency of nutrient uptake. The shifting agriculture sector to more sustainable and efficient farming practices owing to the implementation of various initiatives is expected to propel the market growth for sulfur based micronutrients. In addition, the awareness about soil health and micronutrient deficiencies as well as the technological advancements in fertilizer formulations and application methods are bolstering the sulfur based micronutrients market.

Restraining Factors

The increased price of sulfur-based micronutrient products and lack of awareness about these fertilizers among farmers is hindering the sulfur based micronutrients market.

Market Segmentation

The sulfur based micronutrients market share is classified into form, crop type, and application.

• The solid segment dominated the market accounting for the market share of more than 55% in 2023 and is anticipated to grow at a significant CAGR during the forecast period.

Based on the form, the sulfur based micronutrients market is classified into solid, liquid, and granular. Among these, the solid segment dominated the market accounting for the market share of more than 55% in 2023 and is anticipated to grow at a significant CAGR during the forecast period. Due to its ease of handling, storage, and transportation, the solid form of sulfur based micronutrients is more preferred. The high efficiency of solid form due to its reduced soil leaching property is driving the market in the solid segment.

• The cereals segment dominates the sulfur based micronutrients market with the largest market share and is expected to grow at a significant CAGR during the forecast period.

Based on the crop type, the sulfur based micronutrients market is classified into cereals, legumes, fruits & vegetables, and oilseeds. Among these, the cereals segment dominates the sulfur based micronutrients market with the largest market share and is expected to grow at a significant CAGR during the forecast period. These crop types are particularly sensitive to sulfur-based micronutrients, which are necessary for enzyme activity and protein synthesis as grain yield and quality can be negatively impacted by sulfur deficiencies in cereals.

• The agriculture segment dominated the market with the largest market share in 2023 and is expected to witness a significant CAGR growth during the forecast period.

Based on the application, the sulfur based micronutrients market is classified into agriculture, horticulture, and lawn & garden. Among these, the agriculture segment dominated the market with the largest market share in 2023 and is expected to witness a significant CAGR growth during the forecast period. The growing need for sulfur-based micronutrients in crop production for plant growth and development is driving the sulfur-based micronutrients market. They aid in enhancing the soil’s ability to retain water and fertilize.

Regional Segment Analysis of the Sulfur-Based Micronutrients Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the sulfur based micronutrients market over the predicted timeframe.

North America is anticipated to hold the largest share of the sulfur based micronutrients market over the predicted timeframe. The presence of major agricultural producers in countries like the United States and Canada is responsible for driving the market demand for sulphur based micronutrients to enhance crop yield and quality. The increased awareness about health and focus on limiting sodium intake are contributing to propel the market growth.

Asia Pacific is expected to grow at the fastest CAGR growth of the sulfur based micronutrients market during the forecast period. The increased utilization of micronutrient fertilizers based on sulfur which is encouraged by the government programs supporting sustainable agriculture and increased soil fertility is driving the market. Further, the improved access to agricultural inputs and technologies are bolstering the market growth for sulphur based micronutrients.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the sulfur based micronutrients market along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Yara International
• K+S Aktiengesellschaft
• Nutrien
• CF Industries Holdings, Inc.
• Orica
• Sinochem Corporation
• Mosaic
• BASF SE
• IMC International
• Bunge Limited
• Tessenderlo Group
• Koch Industries
• EuroChem Group
• Cargill, Incorporated
• Albaugh, LLC
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In December 2023, Yara announced that it was acquiring the organic-based fertilizer business of Agribios Italiana, the company’s second bolt-on acquisition supporting its organic strategy in Europe. This signifies Yara’s commitment to further expand its offering in this sector as a complement to its mineral fertilizers to help promote regenerative agriculture and improve soil health.

• In June 2022, Nutrien Ltd. announced that it plans to increase fertilizer production capability in response to structural changes in global energy, agriculture and fertilizer markets.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the sulfur based micronutrients market based on the below-mentioned segments:

Global Sulfur Based Micronutrients Market, By Form

• Solid
• Liquid
• Granular

Global Sulfur Based Micronutrients Market, By Crop Type

• Cereals
• Legumes
• Fruits & Vegetables
• Oilseeds

Global Sulfur Based Micronutrients Market, By Application 

• Agriculture
• Horticulture
• Lawn & Garden

Global Sulfur Based Micronutrients Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa