Chelated-Iron Agricultural Micronutrient Market

Chelated-Iron Agricultural Micronutrient Market Outlook (2024 to 2034)

According to a newly published research report by Fact.MR, the global chelated-iron agricultural micronutrient market will be valued at US$ 178.2 million in 2024. Looking ahead, worldwide demand for chelated-iron farm micronutrients is forecast to accelerate at a CAGR of 7.5% and reach a market value of US$ 367.3 million by the end of 2034.

Rising industrialization and deforestation are resulting in the limited availability or lack of arable land worldwide. With the growing global population, there is an increased requirement for higher crop production, which is contributing to the surging demand for chelated-iron agricultural micronutrients. Iron deficiency in soil, particularly in the Mediterranean region, is positively impacting the demand for these micronutrients.

Increasing cases of iron deficiency, such as anemia, are driving up the demand for more effective fertilizers that can be used for the production of nutrition-enriched crops. Growing initiatives to reduce and prevent anemia are contributing to the rising sales of chelated-iron agricultural micronutrients in agriculture practices. Moreover, the increasing trend of fortifying several types of fertilizers with chelated-iron agricultural micronutrients to prevent nutritional deficiency and improve soil fertility in plants is driving their demand.

Increasing concerns about climate pollution and its impact on the quality of soil are making farmers more anxious about crop quality. The use of customized chelated-iron agricultural micronutrients offers solutions for addressing issues related to iron deficiencies in crops, which result in the production of healthy plants and increased yield.

• Global sales of chelated-iron agricultural micronutrients for use in pulses & oilseeds are projected to advance at a CAGR of 7.3% and reach US$ 98.4 million by the end of 2034.
• Demand for chelated-iron agricultural micronutrients in South Korea is evaluated to increase at a CAGR of 8.3% from 2024 to 2034.
• East Asia is estimated to capture 23.1% of the global chelated-iron agricultural micronutrient market share by 2034.

Report Attribute	Detail
Chelated-Iron Agricultural Micronutrient Market Size (2024E)	US$ 178.2 Million
Forecasted Market Value (2034F)	US$ 367.3 Million
Global Market Growth Rate (2024 to 2034)	7.5% CAGR
Market Share of Cereals (2034F)	28.9%
North America Market Share (2034F)	24.3%
Japan Market Growth Rate (2024 to 2034)	8% CAGR
Key Companies Profiled	BASF SE; Yara International Ltd.; Agrium Inc.; DuPont; Bayer CropScience; Monsanto Company; AkzoNobel; Syngenta International; Nutrien; Compass Minerals International; ADMA Agricultural Solutions; The Mosaic; Verdesian Life Sciences; Brandt Consolidated; Stoller USA; Grow More.

How is the Market for Chelated-Iron Agricultural Micronutrients Evolving?

“Micronutrients Becoming More Mainstream Globally”

The growing impact of technology, along with its use in increasing the efficiency of tasks is not leaving the agriculture industry untouched. It is not new using micronutrients in farming but they are now becoming mainstream. Several novel systems used for nutrient delivery, including enzyme-micronutrient combination items, are used for increasing overall yield with higher nutrients.

Soil health and balanced crop nutrition are emphasized as more farmers align their farming practices with sustainability objectives. Increasing worldwide requirements for quality nutrition are generating demand for micronutrients around the world. Modern fertilizers and high-intensive farming are causing the depletion of several soil micronutrients, which are pivotal for the healthy growth of plants.

Which Key Factors are Posing a Threat to Global Chelated-Iron Agricultural Micronutrient Market Growth?

“Higher Prices of Chelated-Iron Agricultural Micronutrients”

Prices of chelated-iron agricultural micronutrients are comparatively higher than their conventional counterparts, which is further having an adverse impact on market growth. Moreover, harsh climatic conditions are also adversely impacting the production of these micronutrients, thereby limiting their demand.

How are Startups Penetrating This Complex Business Landscape?

“Exploring New Application Areas for Consumption of Chelated-Iron Agricultural Micronutrients”

Startups are investing at a noteworthy rate in R&D activities to explore more areas for the use of chelated-iron agricultural micronutrients. These micronutrients also find application in turf grasses and ornamental plants, which is widening their application scope. In addition, supportive government initiatives for creating greenery or grounds, such as leisure parks and green gardens are fostering expansion of the chelated-iron agricultural micronutrient market size. Increased application of these farming micronutrients in alfalfa and soybean crops is also driving remunerative opportunities for aspiring market players.

Country-wise Insights

Fact.MR, a market research and competitive intelligence provider, stated in its newly published analysis that North America is calculated to account for 24.3% share of the global market by the end of 2034. Market players in regional countries, such as Canada, are partnering with others to expand their footprints.

For instance :

• BASF Canada, in April 2022, entered into an agreement with Quadra Chemicals Ltd., which is one of the prominent ingredient and chemical distributors. This partnership will help BASF to present its micronutrient product portfolio in Canada.

How is the United States Market for Chelated-Iron Agricultural Micronutrients Shaping Up?

“Surging Emphasis on Aligning with Sustainability Objectives in Farming Practices”

Attribute	United States
Market Value (2024E)	US$ 19 Million
Growth Rate (2024 to 2034)	7.9% CAGR
Projected Value (2034F)	US$ 40.7 Million

The United States is estimated to hold a 45.6% share of the market in North America by 2034. Soil health and balanced crop nutrition trends are rising as more farmers align their farming practices with these sustainability objectives. Some companies in the United States, such as The Mosaic Co. and Winfield United are researching and developing products matching this trend. Rising requirements for quality nutrition are constant, which is driving demand for chelated-iron farming micronutrients.

Why is China an Epicenter for Chelated-Iron Agricultural Micronutrient Suppliers?

“Supportive Agricultural Extension Programs and Government Efforts Promoting Consumption of Micronutrients”

Attribute	China
Market Value (2024E)	US$ 19.5 Million
Growth Rate (2024 to 2034)	7.5% CAGR
Projected Value (2034F)	US$ 40.3 Million

China is analyzed to contribute a share of 47.5% of the East Asian market revenue by 2034. The government in the country is making continuous efforts and is actively involved in agricultural extension programs to encourage the consumption of these agricultural micronutrients as fertilizers. They are used for improving food security and crop output, thereby positively influencing the chelated-iron agricultural micronutrient market trends.

What is Expected from the Market in Japan Going Forward?

“Growing Consumption of Chelated-Iron Agricultural Micronutrients to Increase Rice Production”

Attribute	Japan
Market Value (2024E)	US$ 11.5 Million
Growth Rate (2024 to 2034)	8% CAGR
Projected Value (2034F)	US$ 24.9 Million

Japan is evaluated to capture 29.4% of East Asian market revenue share by 2034. Farmers involved in agricultural production, particularly rice, in the country need an effective system for nutrient management to increase the quality and yield. The presence of iron-deficient soil, especially calcareous and alkaline soils, is resulting in lower production, which is stimulating the chelated-iron agricultural micronutrients market share in the country.

Category-wise Insights

As revealed in the market research report, there is an increased demand for chelated-iron agricultural micronutrients for use in cereals. They help boost iron absorption. Their use ensures the readily available iron in an easily absorbable form, enhanced leaf color, greater grain yields, and supporting healthy development. More farmers are striving to increase production with optimized crop nutrition, which is further contributing to the sales of these agricultural micronutrients.

Which Crop are Chelate-Iron Agricultural Micronutrients Widely Used For?

“Extensive Use of Chelated-Iron Agricultural Micronutrients in Cereals”

Attribute	Cereals
Segment Value (2024E)	US$ 51 Million
Growth Rate (2024 to 2034)	7.6% CAGR
Projected Value (2034F)	US$ 106.2 Million

Cereals are forecast to occupy a share of 28.9% of global market revenue by 2034-end. Cereals play a vital role in the increased consumption of chelated-iron agricultural micronutrients because of their increased demand along with widespread cropping. Shortage of iron is one of the key problems in cereal crops, particularly in soils with low iron availability or alkaline pH. These deficiencies cause poor photosynthesis, reduced development, and chlorophyll production, eventually adversely impacting agricultural production and quality. Chelated-iron farming micronutrients are offering an effective remedy against iron shortages.

Why are Inorganic Chelated-Iron Agricultural Micronutrients More Popular?

“Preference for Inorganic Agricultural Micronutrients for Their Economic Prices and Easy Availability”

Inorganic chelated-iron agricultural micronutrients hold a noteworthy share of the global market owing to their easy adaptability, low cost, and efficacy. Several inorganic compounds, such as iron chloride and iron sulfate, are less expensive and easily accessible than organic chelates. These inorganic micronutrients are water soluble and, thereby, ideal for delivery through foliar sprays to irrigation systems. Subsequently, their compatibility with different types of soil and pH levels makes them a preferred choice for crops.

Competitive Landscape

Key players in the chelated-iron agricultural micronutrient industry are adopting several strategies, such as partnerships, collaborations, agreements, portfolio expansion, and others to expand their reach across more regions and thereby contribute to higher revenue streams.

For instance:

• Syngenta International boosted its chelated micronutrient production capacity in Europe in June 2021. These micronutrients are used as key elements in the agricultural sector.

Fact.MR provides detailed information about the price points of key manufacturers of chelated-iron agricultural micronutrients positioned across the world, sales growth, production capacity, and speculative technological expansion, in this newly published market report.

Segmentation of Chelated-Iron Agricultural Micronutrient Market Research

• By Type :

  • Organic
  • Inorganic

• By Crop Type :

  • Cereals
  • Pulses & Oilseeds
  • Fruits & Vegetables
  • Others
    • Ornamental Plants
    • Turf Grass
    • Others

• By Sales Channel :

  • Online
  • Offline

• By Region :

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • East Asia
  • South Asia & Pacific
  • MEA