The chelated-iron agricultural micronutrient helps in promoting sustainable crop yields and improves quality. These micronutrients are essential for plant growth and health. Chelated-iron improves the iron availability in soil and increases the iron absorption by plants. It enhances chlorophyll production, assists in photosynthesis, and promotes the growth of roots and shoots.

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 are Abbott, F. Hoffmann-La Roche Ltd, Johnson & Johnson, ARKRAY, Inc., Ascensia Diabetes Care Holdings AG. Chelated-iron helps address the gaps in soil micronutrients levels and meet crop requirements for better yields and quality. These micronutrients help improve sustainability of precision agriculture practices. Growing adoption of advanced fertigation and precision irrigation techniques has boosted micronutrient adoption. Increasing focus on integrated soil health management and availability of chelating agents is further expected to drive market growth over the forecast period.

Market drivers

Precision agriculture trends like automated fertigation and site-specific nutrient management have increased the demand for chelated fertilizers. Emphasis on nutrient-dense food production to address global food security challenges will continue driving market growth. Government initiatives promoting sustainable agriculture through soil testing and micronutrient fortification of staple crops also support the adoption of chelated forms of iron. Growing organic and protected cultivation practices requiring controlled nutrient delivery boost chelated-iron sales.

Current Challenges in Chelated–Iron Agricultural Micronutrient Market

The global Chelated–Iron Agricultural Micronutrient market is facing challenges due to rising soil degradation across many regions. Overuse of soil for agricultural activities without proper replenishment has reduced soil fertility levels worldwide. The yield of many crops has declined significantly. Farmers are also hesitant to invest in micronutrient supplements due to their high prices. More efforts are needed to create awareness about the long term benefits of using micronutrients. Governments need to provide subsidies and low interest credit facilities to help farmers. The market also needs to develop low cost and effective delivery methods of these supplements to push adoption.

SWOT Analysis

Strength: Chelated forms provide better absorption and utilization of iron for plants. They remain stable in soil for extended periods.

Weakness: High manufacturing costs of chelated iron make it expensive for farmers. The market relies heavily on agriculture and is exposed to variations in crop yields.

Opportunity: Increasing micronutrient deficiencies in soil open up opportunities. Growing organic and sustainable farming practices will boost demand.

Threats: Threat of substitute products like manures and composts. Intense competition can squeeze profit margins.

Geographical Regions

The North America and Europe regions account for around 45% of the total Chelated–Iron Agricultural Micronutrient market share in terms of value. Developed economies have widespread adoption of supplements and soil testing practices. The Asia Pacific region is the fastest growing market led by China and India. Growing population and food demand are pushing governments as well as farmers to focus on boosting crop yields through soil fertility programs. South America is also witnessing steady gains in demand backed by agricultural development activities.

The fastest growing region is expected to be Africa over the forecast period. Several countries have launched national programs to revive degraded lands and make agriculture more productive and sustainable. Increased awareness about benefits along with foreign investments will help drive strong growth of Chelated–Iron Agricultural Micronutrient consumption.

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