The Global Chelated–Iron Agricultural Micronutrient Market Growth Accelerated By Increasing Agricultural Activities

 

Chelated-iron agricultural micronutrients are widely being used as vital micronutrients in livestock and crop nutrition to enhance their health and improve yields. Chelated iron helps in photosynthesis, energy production and nitrogen fixation in plants. It prevents iron deficiency in crops and increases their resistance to diseases.

The global 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 7.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The increasing demand for food owing to the rising global population has been augmenting agricultural activities across the globe. As micronutrients play a crucial role in boosting crop and livestock yields, their demand is growing steadily. Chelated iron agricultural micronutrients are highly effective and have high absorption rates in plants as compared to other conventional iron sources. Their chelated structure protects the micronutrient from being tied up or breakdown during the application and enables easy assimilation by plants. This has significantly contributed to the accelerated growth of the global chelated-iron agricultural micronutrient market over the forecast period.

Segment Analysis
The global chelated-iron agricultural micronutrient market is dominated by the liquid sub-segment with a market share of over 40% in 2024. Liquid micronutrients are easy to apply and absorb by plants. They have high solubility and stability which ensures effective distribution of iron throughout the soil and its uptake by crops. This has made liquid chelated-iron popular among farmers.

Key Takeaways
The Global Chelated-Iron Agricultural Micronutrient Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The global 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 7.4% over the forecast period 2023 to 2030.

Regional analysis
The Asia Pacific region is projected to dominate the global chelated-iron agricultural micronutrient market during 2023-2030. Countries such as India, China, and Japan account for over 50% of the global demand for chelated-iron micronutrients. Growing cultivation of high-value crops and awareness among farmers about micronutrient deficiency is driving market growth. Subsidies by governments for usage of micronutrients are further boosting adoption.


Key players: 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.

For More Insights, Read: https://www.newswirestats.com/chelated-iron-agricultural-micronutrient-market-trends-growth-and-regional-outlook-2023-2030/