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.
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. Iron deficiency in plants causes chloros is due to poor chlorophyll synthesis and also affects lignin formation, energy transfer and nitrogen reduction and fixation in plants. Chelated iron agricultural micronutrient are mixed with fertilizers to increase the minerals supplement in soil, the as most soils in various parts of the world are being rapidly depleted of minerals.
The global chelated iron agricultural micronutrient market is mainly driven by factors such as upgraded farming practices in emerging markets, which require effective fertilizers that are enriched with micronutrients to provide the best results. However, restraints include high product price and fluctuating economic conditions, resulting into uneven demand-supply, which ultimately affects the supply chain.
The global chelated iron agricultural micronutrient report begins with an overview of the market. To sum it up, chelated iron agricultural micronutrient are basically used for cereals, pulses & oilseeds, fruits & vegetables and other segments such as ornamental plants, turf grass etc.
The chelated iron agricultural micronutrient market is segmented into:
This report covers the global chelated iron agricultural micronutrient market performance in terms of the revenue contribution. This section additionally includes PMR analyses of key trends, drivers, restraints and opportunities, which are influencing the global chelated iron agricultural micronutrient market. Impact analysis of key growth drivers and restraints, based on weighted average model, is also included in this report to better equip and arm clients with crystal clear decision-making insights.
By Segment, the cereals segment accounted for 60.6% share of the overall chelated iron agricultural micronutrient market in 2014, followed by fruits and vegetables segment with 28.0% in terms of value. Though, smallest in market size, the others segment is expected to register the highest CAGR of 9.3% during the forecast period. Each country has been analyzed for potential opportunities by crop type during the forecast period. Manufacturers and distributors can obtain a holistic view with granular information regarding the demand for chelated iron micronutrient according to each crop type in various countries globally.
On the basis of regions, the market is segmented into North America, Latin America, Europe, Asia Pacific and MEA. Of the above aforementioned regions, Latin America is expected to expand at the highest CAGR of 8.8% during the forecast period. However, Asia Pacific is forecast to be the most prominent market in terms of absolute dollar opportunity. Also, in the report, the regions have been further sub-segmented into countries with their respective value and volume forecast for the staid period.
The global chelated iron agricultural micronutrient is segmented as follows:
By Crop Type:
Key players in the global chelated iron agricultural micronutrient that has been profiled in this report includes:
These players have been profiled on the basis of various attributes such as company overview, recent developments, growth strategies, sustainability and financial overview.