May 21, 2024
Chelated-Iron Agricultural Micronutrient Market

Chelated–Iron Agricultural Micronutrient Market Set to Witness High Growth Owing to Increased Need for High Crop Yields

The global chelated–iron agricultural micronutrient market has been gaining significant traction over the past few years, primarily driven by the growing need to increase crop productivity. Chelated–iron agricultural micronutrients help improve photosynthesis, support nitrogen fixation, enhance chlorophyll production, and improve overall plant health. They optimize the uptake of other essential nutrients and play a vital role in many metabolic plant processes. The growing emphasis on improving yields and quality of agricultural produce has augmented the demand for chelated–iron agricultural micronutrients substantially.

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. These players are focusing on new product launches and expansion strategies to gain a competitive advantage in the market.
There is high growth potential in the Asia Pacific region owing to the rising agricultural activities in major countries like India and China. Key players are investing heavily in these emerging nations to leverage lucrative business opportunities.
Global expansion remains a top priority for players in the chelated–iron agricultural micronutrient market. Mergers and acquisitions allow companies to strengthen their distribution channels and expand their geographic footprints. Joint ventures with local players also help gain a stronger foothold in high-growth international markets.

Market Drivers
One of the key drivers for the chelated–iron agricultural micronutrient market is the growing requirement for enhancing crop quality and increasing yields to meet the rising global food demand. Chelated iron micronutrients play a vital role in improving photosynthesis, nitrogen fixation and chlorophyll production in plants which results in higher crop outputs.

Market Restraints
High manufacturing and transportation costs associated with chelated–iron agricultural micronutrients can limit the affordability of these products, especially in price-sensitive developing markets. Stiff competition from lower-cost substitutes also poses a major challenge for major players in the market.

Segment Analysis

The Chelated-Iron Agricultural Micronutrient Market Demand can be segmented based on type into chelates and non-chelates. The chelates sub-segment dominated the market in 2024 due to better absorption and utilization of chelated iron in crops as compared to non-chelates. Chelates provide crop nutrition throughout growing seasons for optimum yield and quality.

Global Analysis

The Asia Pacific region dominated the global chelated-iron agricultural micronutrient market in 2024 owing to large farmlands and high agricultural production in countries like China and India. The region will continue its dominance during the forecast period due to the increasing use of precision farming techniques and cultivation of high-value commercial crops. Europe and North America are other major regions for this market due to awareness regarding soil health management and standardized agricultural practices among farmers for sustainable food production.

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