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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

Market Snapshot

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 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.

chelated-iron-agricultural-micronutrient-market

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Introduction

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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Market Drivers

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.

Valuation

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.

By Geography

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.

Market Trends

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.

Market Segments

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.

Market Taxonomy:

Attribute Details

By Crop Type

  • Cereals
  • Pulses & Oilseeds
  • Fruits & Vegetables
  • Others (ornamental plants, turf grass etc.

By Region

  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • APAC
    • China
    • India
    • Japan
    • Australia & New Zealand
    • Rest of APAC
  • Europe
    • France
    • Russia
    • Germany
    • Italy
    • Spain
    • U.K.
    • Poland
    • Nordic
    • BENELUX
    • Rest of Europe
  • Middle East and Africa
    • Sub-Saharan Africa
    • North Africa
    • Turkey
    • South Africa
    • GCC
    • Rest of MEA

Competitive Landscape

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.

- Companies Covered in This Report -

Key players in the global chelated iron agricultural micronutrient that has been profiled in this report includes:

  • Agrium Inc.
  • Yara International Ltd.
  • AkzoNobel.
  • 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.
  • Kay-Flo.
  • Micnelf USA Inc.
  • Nutra-Flo Company (K- Flo).
  • Stoller USA, Inc.
  • Verdesian Life Sciences, LLC (QC Corporation).
  • DuPont.
  • Other.

These players have been profiled on the basis of various attributes such as company overview, recent developments, growth strategies, sustainability and financial overview.

- Frequently Asked Questions -

The U.S. and China are at the forefront in terms of export of chelated-iron agricultural micronutrients.

The chelated-iron agricultural micronutrient market expanded at a robust CAGR of 7.1% over the past five years

The chelated-iron agricultural micronutrient industry is currently worth approximately US$ 148 Mn.

The global industry is depicting an incremental opportunity of US$ 258 Mn by the end of the decade.

The market is expected to be guided by trends such as increasing fortifying products with micronutrients and government initiatives to promote agriculture.

In 2031, the chelated-iron agricultural micronutrient market is predicted to attain a net worth nearly US$ 406 Mn.

The market is expected to surge at an impressive CAGR of 10.6% over the decade.

Japan holds a market share of nearly 20% and South Korea holds a smaller share of 3.4%.

The need for effective fertilizers due to poor soil quality, ease of application, and effective functioning of the soil are major aspects controlling demand for chelated-iron agricultural micronutrients.

The U.S., China, U.K., and India are leading the demand for chelated-iron agricultural micronutrients.

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