February 22, 2024
Chelated-Iron Agricultural Micronutrient Market

The Global Chelated-Iron Agricultural Micronutrient Market is estimated to driven by rising adoption of precision farming

Chelated-iron agricultural micronutrients are iron compounds that are easily absorbed by plants. They play a vital role in metabolism, photosynthesis, nitrogen fixation and oxygen uptake in crops. Chelated forms such as iron EDTA and iron EDDHA have higher bioavailability compared to inorganic forms. They prevent iron deficiency chlorosis (IDC) in plants even at low soil pH levels. The growing significance of micronutrients in improving farm yields has boosted demand for chelated iron supplements for various crops.

The Global Chelated-Iron Agricultural Micronutrient Market is estimated to be valued at US$ 206.87 Mn in 2024 and is expected to exhibit a CAGR of 7.4% over the forecast period 2024 to 2030.

Key Takeaways
Key players operating in the Chelated-Iron Agricultural Micronutrient market are Abbott, F. Hoffmann-La Roche Ltd, Johnson & Johnson, ARKRAY, Inc., Ascensia Diabetes Care Holdings AG, AgaMatrix, Bionime Corporation, ACON Laboratories, Inc., MEDISANA GMBH, Tividia Health, Inc. and Rossmax International Ltd.
The growing global population and rising food demand have necessitated higher agricultural output, driving demand for micronutrient supplements including iron chelates.
Advancements in chelate engineering have led to development of more stable and effective iron chelate formulations that can be applied through various methods such as foliar sprays and soil applications.

Market Trends
Precision farming and protected agriculture are emerging as key trends shaping the micronutrients industry. Precision farming enables targeted crop micronutrient application based on soil tests and vegetation analysis for improved efficiency.
Bio-stimulant blends containing iron chelates along with other micronutrients and active ingredients are gaining traction due to their synergistic yield-enhancing properties. They support overall plant health in addition to preventing specific nutrient deficiencies.

Market Opportunities
The Asia Pacific region is expected to witness highest growth in chelated iron demand over the forecast period. Countries like India, China and Vietnam are investing heavily in agricultural infrastructure and practices to boost production.
The rising global consumption of high-value crops such as fruits and vegetables which have stringent micronutrient demands provides opportunities for novel iron chelate formulations tailored for specialty crops.

Impact of Covid-19 on Chelated–Iron Agricultural Micronutrient Market

The COVID-19 pandemic has impacted the growth of the chelated-iron agricultural micronutrient market. Border closures, transport disruptions, and lockdowns have disrupted supply chains, impacting the availability of chelated-iron products for farmers globally. This has negatively impacted the demand in short term. However, chelated-iron plays a vital role in plant nutrition and helping boost crop immunity. In the long run, the market is expected to bounce back as governments recognize agriculture as an essential sector and promote its growth.

Pre-covid, the market was growing at a steady pace due to the rising awareness about benefits of chelated-iron over conventional iron products. It enhances nutrient absorption and utilization by plants. Post-covid, countries are taking initiatives to promote sustainable agriculture practices and boost farm output. This will drive the adoption of chelated-iron micronutrients. Manufacturers are also focusing on improving distribution channels and offering customized solutions to gain back lost revenue in pandemic. Though near term challenges exist, focus on modern agriculture ensures healthy growth of this market in coming years.

Geographical Regions with high concentration of Chelated-Iron Agricultural Micronutrient Market Demand

Asia Pacific region has the highest concentration of chelated-iron agricultural micronutrient market in terms of value. Countries like China, India and Indonesia have vast cultivable land and rely majorly on agriculture. Companies have established strong distribution networks catering to huge farmer base in the region. With growing population and rising demand for food, governments are promoting mechanized and scientific farming practices. This favors the adoption of chelated-iron over conventional iron sources. North America also captures significant market share owing to developed agricultural sector and awareness about micronutrients role in enhancing crop quality and yield.

Geographical Region witnessing fastest growth for Chelated–Iron Agricultural Micronutrient Market

South America region is witnessing the fastest growth for chelated-iron agricultural micronutrient market currently. Countries like Brazil, Argentina are among top exporters of agricultural produce globally. With growing cultivable land and farm output, the demand for high-efficiency chelated-iron micronutrient is increasing rapidly. Governments are collaborating with international organizations and companies to educate farmers about advanced farming techniques. This is propelling the adoption of premium products like chelated-iron across the region. Manufacturers are also expanding presence in South America recognizing future growth potential.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it