Chelated micronutrients are produced by altering positively charged cat-ions to negatively charged molecules.
As soil itself is negatively charged, it repels negatively charged molecules of chelated micronutrients, making it easily available for uptake by plants.Chelated iron micronutrient is mostly used in calcareous (high pH) soils and soils low in organic matter.
High intensive farming and modern fertilizers have caused depletion of various micronutrients from the soil, which are essential for healthy plant growth.
Iron deficiency in plants causes chlorosis due to poor chlorophyll synthesis and also affects lignin formation, energy transfer and nitrogen reduction and fixation in plants.
The global chelated iron micronutrient market was valued at around US$ 34.7 million in 2014.
Asia Pacific (APAC)was the largest market for chelated iron micronutrient with44.8% share of the overall market in 2014, followed by North America with 24.8%.
Latin America is expected to exhibit highest CAGR of 8.9% during the forecast period, followed by MEA, which is expected to expand at a CAGR of 7.8%. APAC is forecast to remain the most significant market, with highest absolute $ opportunity.
The world population is continuously increasing and the demand for quality food is increasing rapidly, especially in emerging markets as the purchasing power of buyers has grown significantly.
Upgraded farming practices and government subsidies to waive the fertilizers price for farmers have generated a good demand for chelated iron micronutrient for crops like soybean, alfalfa and turf grass etc. Thus, the market for chelated iron micronutrient is expected to exhibit a robust growth in the coming years.
The global chelated iron micronutrient market is expected to be valued atUS$ 51.4 million by the end of 2015, registering a CAGR of 6.8% between 2015 and 2020. In terms of volume, the market accounted for 9,037.7 Kg in 2014, which is expected to increase at a CAGR of 5.3% to reach 12,194.5 Kg by 2020.
By crop type, cereals were the largest segment, valued at US$ 21,030 thousand in terms of revenue and 5,289 Kg in terms of volume. In the same year, fruits and vegetables were the second largest segment by crop type, accounting for around 28.0% and 30.6% share respectively of the market.
Key market players in the chelated iron micronutrient marketincludeAgrium Inc., Yara International Ltd., AkzoNobel, BASF SE, Monsanto Company, Bayer CropScience and DuPont.
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Key players in the global chelated iron agricultural micronutrient that has been profiled in this report includes:
- Agrium Inc.
- Yara International Ltd.
- Compass Minerals International Inc.
- BASF SE.
- Monsanto Company.
- Bayer CropScience AG.
- ADAMA Agricultural Solutions Ltd.
- Land O’Lakes Inc.
- Nufarm Limited.
- Sumitomo Chemical Co., Ltd.
- Syngenta International AG.
- The Mosaic Company, ATP Nutrition.
- Baicor, L.C.
- Brandt Consolidated Inc.
- Grow More Inc.
- Micnelf USA Inc.
- Nutra-Flo Company (K- Flo).
- Stoller USA, Inc.
- Verdesian Life Sciences, LLC (QC Corporation).
These players have been profiled on the basis of various attributes such as company overview, recent developments, growth strategies, sustainability and financial overview.
Chelated micronutrients are produced by altering positively charged cat-ions to negatively charged molecules. Chelated iron micronutrient is mostly used in calcareous (high pH) soils and soils low in organic matter.
High intensive farming and modern fertilizers have led to the depletion of various micronutrients from the soil, which are essential for healthy plant and crop growth.
The global chelated iron agricultural micronutrient is segmented as follows:
By Crop Type
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