Chelated iron agricultural micronutrients find numerous applications in various forms like solid, liquid and gaseous forms to fortify the soils and fertilizers with iron ions required by the crops. The metal ions are locked to metal chelating agents like EDTA which prevents them from precipitating or combining with other compounds in the soil, making the micronutrient readily available for plant uptake. This ensures increased yields of crops and overcomes iron deficiency issues in plants. The global chelated iron micronutrient market is estimated to grow steadily during the forecast period due to the increasing adoption of precision agriculture and protected cultivation across the globe.
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. Abbott and F. Hoffmann-La Roche Ltd hold a significant share of the market. Abbott offers analytical systems for clinical chemistry and diabetes care with technical support across 125 countries.
The increasing demand for high-value and low-volume crops is expected to drive the global chelated iron micronutrient market during the forecast period. Precision farming techniques involving hydroponics and soilless medium cultures require fortified growing mediums which is supporting the market growth. Chelated forms can supply micronutrients efficiently according to the specific requirements of different crops.
Rising agricultural productivity through the adoption of protected agriculture and increasing cultivation of micronutrient deficient soils across Central and South American regions will boost the global expansion of chelated iron agricultural micronutrient market during 2024-2030. Developing nations are focusing more on leveraging micronutrients to enhance farmers’ income and ensure food security.
Market Drivers
The key driver for the chelated-iron agricultural micronutrient market is the increasing adoption of chelated iron fertilizers over conventional fertilizers. Chelated forms have higher iron content solubility and prevent iron lock up in soil. This ensures better plant uptake of iron and avoids iron deficiency related productivity losses in crops. The metal complexing agents form stable soluble complexes with iron ions which prevents their chemical reactions with soil compounds. This makes chelated iron fertilizers more advantageous and they are gradually becoming the popular choice of farmers globally for obtaining higher yields.
Impact of current geopolitical situation on Chelated–Iron Agricultural Micronutrient Market growth and future strategies
The current geopolitical instability caused by the ongoing Russia-Ukraine conflict is impacting the growth of the Chelated–Iron Agricultural Micronutrient Market. Both Russia and Ukraine are among the leading exporters of cereals and edible oils. The conflict has disrupted global export of these key agricultural commodities from the Black Sea region. This is negatively impacting farmers across Europe and Asia who are facing shortage and rising prices of feedstock.
To cope with this crisis, governments worldwide are supporting their farmers through subsidies to purchase alternative sources of micronutrients including chelated iron. They are also stockpiling key agricultural inputs to prevent future shortages. This is boosting short term demand for chelated iron products. However, prolonged geopolitical tensions can cause long term challenges if alternative supplies do not emerge quickly.
Stakeholders in the Chelated–Iron Agricultural Micronutrient Market need to strategize and develop reliable sourcing partnerships in new regions to mitigate supply risks. Diversifying agricultural trade agreements and investing in technology to improve yields with limited resources can help build resilience against geopolitical shocks. Market players must also explore opportunities in countries facing domestic agricultural challenges or seeking to enhance food security. This will open new markets and help sustain steady growth over the forecast period.
Geographical regions where Chelated–Iron Agricultural Micronutrient Market value is concentrated
The Chelated-Iron Agricultural Micronutrient Market Demand value is highly concentrated in few key regions globally. North America represents the largest market, with the United States accounting for the major share. Favorable agricultural policies and practices of precision farming with micronutrient supplements have driven widespread adoption. Europe is the second largest regional market, dominated by countries including France, Germany, Spain and Italy.
Asia Pacific is emerging as an important growth region with increasing consumption in major economies like China and India. Both countries are investing heavily in agricultural development and self-sufficiency. Supported by conducive government initiatives, the demand for chelated iron from Asia Pacific is projected to increase sharply over the coming years. Other high potential markets include Brazil, Argentina and key countries across Middle East and Africa. Their expanding agricultural sectors and investment in productivity will catalyze future demand.
Fastest growing region for Chelated–Iron Agricultural Micronutrient Market
The Asia Pacific region is poised to witness the fastest growth in the global Chelated–Iron Agricultural Micronutrient Market during the forecast period. This can be attributed to rising population, rapid urbanization and government focus on boosting domestic food production in the region. Countries like China and India account for a major share of global population and face the massive challenge of sustainably feeding billions.
Micronutrient deficiency affects large areas of farmlands in Asia Pacific. Governments are aggressively promoting use of advanced soil treatments and precision inputs including chelated iron to maximize crop yields. Increased awareness among farmers about nutritional benefits is driving higher adoption of chelated forms. Moreover, growing participation of international traders and local private players is augmenting access across rural areas. With strong macroeconomic growth outlook, Asia Pacific presents significant headroom for investment and future expansion in the Chelated–Iron Agricultural Micronutrient Market.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.