Chelated-Iron Agricultural Micronutrient Market
Global Market Study on Chelated-Iron Agricultural Micronutrients: Demand for Micronutrient-fortified Products to Increase
Chelated-Iron Agricultural Micronutrient Market Segmented By Crop Micronutrients, Agricultural Chelates with Cereals, Pulses and Oilseeds, Fruits and Vegetables Crop Type
Persistence Market Research has released a newly updated analysis on the chelated-iron agricultural micronutrient market landscape. In this study, analysts have estimated a market worth of nearly US$ 148 Mn in 2021, and have projected it to expand 2.7X by the end of the decade. The market is depicting an incremental opportunity of US$ 258.5 Mn by the end of 2031.
The global chelated-iron agricultural micronutrient market is expected to surge at a phenomenal CAGR of 10.6% over the next ten years.
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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.
Key Points Covered in Chelated-Iron Agricultural Micronutrient Market Survey:
- Market estimates and forecast 2016-2031
- Key drivers and restraints impacting market growth
- Segment-wise, country-wise, and region-wise analysis
- Competition mapping and benchmarking
- Brand share and market share analysis
- Key product innovations and regulatory climate
- COVID-19 impact on chelated-iron agricultural micronutrients and how to navigate
- Recommendation on key winning strategies
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Micronutrients to Become More Mainstream
Increasing influence of technology and making all tasks as efficient as they can get has been a major trend in the 21st century, and the agricultural sector is not untouched by it. Use of micronutrients in agriculture is not new but it has become more mainstream in recent times.
The benefits and value that micronutrients offer have been majorly realized by growers as well as manufacturers and distributors, and, as a result, use of micronutrients has escalated.
New nutrient delivery systems such as enzyme-micronutrient combination products that boost soil activity and nutrient uptake are entering the market, and they seem to have a positive outlook, along with other technology and advancements.
Balanced crop nutrition and soil health trends are growing as farmers tend to align their farming with sustainability goals. Companies such as WinField United and The Mosaic Co. are developing and researching products per this trend. Growing demand for quality nutrition is expected to be constant and the need for micronutrients is anticipated to grow over the coming years.
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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 agricultural micronutrient is mostly used in calcareous (high pH) soils and soils low in organic matter.
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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 agricultural micronutrient market is valued at US$ 148.6 Mn, and is set to register a CAGR of 10.6% from 2021 to 2031. The market is anticipated to attain a worth of approximately US$ 406 Mn by the end of the decade.
Asia Pacific (APAC) was the largest market for chelated-iron agricultural micronutrient with nearly 2/5 share of the overall market in 2020, followed by North America with approximately 1/4 of the market share.
Latin America is expected to exhibit highest CAGR during the forecast period, followed by MEA, which is expected to expand at a little lower CAGR. 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 agricultural micronutrient for crops like soybean, alfalfa and turf grass etc. Thus, the market for chelated-iron agricultural micronutrient is expected to exhibit a robust growth in the coming years.
Chelated micronutrients are produced by altering positively charged cat-ions to negatively charged molecules. Chelated-iron agricultural 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.
By Crop Type
Key market players in the chelated-iron agricultural micronutrient market include Agrium Inc., Yara International Ltd., AkzoNobel, BASF SE, Monsanto Company, Bayer CropScience and DuPont.