 |
| Global Chelated-Iron Agricultural Micronutrient Market Size |
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
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 related content comprises
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 related content comprises
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.
Explore More Related Article On This
Topic: https://www.pressreleasebulletin.com/chelated-iron-agricultural-micronutrient-market-scope/