February 19, 2025
Chelated Iron Agricultural Micronutrient Market

Chelated Iron Agricultural Micronutrient Market Analysis, Size And Growth

The Chelated Iron Agricultural Micronutrient Market is estimated to be valued at US$ 179.57 Mn in 2023 and is expected to exhibit a CAGR of 10.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

The Chelated Iron Agricultural Micronutrient Market is vital for soil and plant nutrition. Chelated iron helps with photosynthesis and energy production in plants. It is an essential micronutrient that is important for chlorophyll production and enzyme activation. Chelated iron is a highly bioavailable form that helps ensure iron is delivered to plants for proper growth and yield.

Market Overview:
Chelated iron agricultural micronutrients help improve soil health and fertility by preventing iron deficiencies in crops. They enhance nutrient uptake, photosynthesis, and overall crop productivity. Chelated iron forms stable chelate complexes that protect iron from reactions with soil compounds. This makes iron highly bioavailable to plants.

Market key trends:
The Chelated Iron Agricultural Micronutrient Market is estimated to witness high growth owing to increasing awareness about soil health management and micronutrient deficiency mitigation. Chelated iron plays a crucial role in photosynthesis for energy production in crops. It is an important micronutrient that promotes chlorophyll production and activation of enzymes. The chelated form offers superior absorption and prevents iron lockup in soils. This trend of using bioavailable and efficacious micronutrient formulations is expected to drive market expansion over the forecast period.

Porter’s Analysis
Threat of new entrants: The Chelated Iron Agricultural Micronutrient Market Analysis requires high capital investment to set up manufacturing plants which limits the threat of new entrants.
Bargaining power of buyers: The global chelated iron agricultural micronutrient market has several buyers but none of them have significant control over pricing as the market is moderately fragmented.
Bargaining power of suppliers: A few major players dominate the upstream supply of chelated iron agricultural micronutrient which gives them moderate bargaining power over prices.
Threat of new substitutes: There exist no close substitutes for chelated iron agricultural micronutrients thus threat from substitutes is low.
Competitive rivalry: The global market is marked by the presence of several international and regional players leading to high competitive rivalry.

SWOT Analysis
Strength: Chelated iron micronutrients help improve crop yield and quality. They have high solubility and bioavailability which ensures effective absorption by plants.
Weakness: High R&D and production costs associated with chelated iron micronutrients increase prices making them less affordable for some farmers. Supply chain disruptions can impact availability.
Opportunity: Increasing focus on sustainable agriculture practices and growing organic and micronutrient deficient soils provide significant opportunities.
Threats: Stringent regulatory frameworks and environmental impact of production can restrict growth. Trade barriers and geopolitical issues pose threats.

Key Takeaways

The global chelated iron agricultural micronutrient market is expected to witness high growth at a CAGR of 10% over the forecast period due to increasing demand for high-yielding and nutrient-dense crops. The market size is projected to reach US$ 379.23 Mn by 2030 from US$ 179.57 Mn in 2023.

Regional analysis: Asia Pacific dominates the global market and is expected to grow the fastest due to a huge agriculture base and lack of micronutrient-rich soils in countries like India and China. Rapid expansion of farmland and increasing uptake of sustainable practices will drive future growth. North America and Europe also hold significant shares backed by stringent organic farming regulations and awareness.

Key players operating in the chelated iron agricultural micronutrient market are BASF SE, Dow, Valagro, Titan Biotech, Nouryon, Global Crop Improvement Company (Gcic), Adob, Yara, Syngenta, Global Calcium Pvt Ltd, Haifa Negev Technologies Ltd, Agro Egypt International, Compo Expert Gmbh, Trade Corporation International, Sipcam Inagra, Others. Leading players are investing in R&D and product launches to consolidate their positions.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

Money Singh
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. 

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. 

View all posts by Money Singh →