/ Report Details / Global Chelated Iron Agricultural Micronutrient Market by Type (Organic and Inorganic)
Global Chelated Iron Agricultural Micronutrient Market by Type (Organic and Inorganic), By applications (Cereals, Pulses, and Oilseeds, Fruits, and vegetables), by regions (North America, Asia Pacific, Europe, Latin America, and Middle East and Africa)
REPORT HIGHLIGHT
The global chelated-iron agricultural micronutrients market was valued at US$ 44.98 million in 2018 and is expected to reach US$ 81.43 million by the end of 2027, increasing at a CAGR of 6.8%.
Chelated-iron micronutrients are commonly used to alleviate iron deficiency in soils with high pH values and low organic matter content. Chelated-iron micronutrients benefit the soil by supplying metal ions that plants and crops may immediately take. They aid in preventing metal precipitation with phosphates in the soil, which can hurt the soil's quality. Furthermore, they regulate and manage the physiological processes of crops to increase agricultural output.
MARKET DYNAMICS
Food consumption is increasing worldwide, which has sped up the rate of growth in the global agriculture industry. The potential of various micronutrients, including current ones like iron chelates, is being amplified through a scientific study on producing better agricultural additives. Iron chelates are thought to be the best way to treat iron deficiency in plants. Crops low in iron are caused by irregular medium pH absorption. To some extent, increasing fertilizer application could help.
On the other hand, using chelated-iron micronutrients might be an effective option for increasing iron levels in the soil. The widespread use of chelated iron as an agricultural micronutrient has been pushed by improving crop quality. Chelated iron is widely regarded as a suitable agricultural micronutrient due to its efficient and cost-effective usage in farming and crop production. The growing trend of supplementing fertilizer products with chelated micronutrients to increase soil fertility and avoid nutritional shortage in plants is projected to drive chelated-iron agricultural micronutrients market expansion.
Increased deforestation and industrialization have resulted in a global shortage of arable land, increasing demand for high-yield crop cultivation. Over the projected period, this is likely to fuel the expansion of the chelated-iron agricultural micronutrients market. Furthermore, iron shortage in soil, particularly in the Mediterranean area, rapidly increases the demand for nutrients in the region. Another essential factor predicted to drive market expansion during the forecast period is the increasing use of chelated-iron micronutrient fertilizers in soybean and alfalfa crops. Agricultural micronutrients containing chelated iron are helpful in pest control. Pests are believed to be irritated by the inflammatory consequences of exposure to iron chelates. Chelated-iron micronutrients can be used as a bait to kill pests without causing harm to crops or soil quality, as an alternative to hazardous and toxic pesticides and germicides.
The high cost of chelated-iron micronutrients fertilizers is likely to be a key stumbling block to the market expansion of chelated-iron micronutrients. Other constraints, such as extreme climatic conditions and changing government laws and regulations, will likely limit the growth of the chelated-iron agricultural micronutrient market. The market expansion of chelated-iron agricultural micronutrients is projected to be hampered by shifting economic conditions that lead to inconsistent supply-demand. Furthermore, countries with lax government restrictions harm the raw resources utilized in agricultural production.
MARKET SEGMENTATION
The global chelated micronutrient market can be segmented on type and applications.
TYPE TAKEAWAY
Organic and Inorganic are significant segments by type. Due to the increasing need for food for an ever-increasing population worldwide, inorganic nutrients are in demand due to their high productivity and short-term impact on-farm yields. Farmers prefer inorganic nutrients due to less cost and high farm yield in the short run. But factors such as demand for organic food products and increasing adoption of sustainable agriculture practices positively impact demand for the organic segment. With many large FMCG companies entering the organic food market and major nutrient producers developing organic nutrients are also contributing to increasing demand for this segment.
APPLICATION TAKEAWAY
Cereals, Pulses, and Oilseeds, Fruits, and vegetables are three major application segments for micronutrients. In terms of value, the cereals category had the highest revenue share followed by fruits and vegetables and pulses and oilseeds. Cereal’s demand is boosted by increasing consumption of healthy food by the health-conscious consumer segment. Consumer demand for high-quality fruits and vegetables is expected to drive market expansion throughout the forecast period. Furthermore, rising knowledge of excellent farming practices is projected to encourage farmers to use chelated fertilizers, boosting chelated-iron agricultural micronutrients market development. Demand in the oilseed segment is increasing compared to growing food demand by the population over the world.
REGIONAL TAKEAWAYS
Global industry can be represented by North America, Europe, Asia Pacific, Middle East, Africa, and Latin America. In terms of value, the North American region dominated the worldwide chelated-iron micronutrients market in 2018, with a 46.6 percent share, followed by North America and Europe. Large farm size and industrial farming adoption by big companies in the region boost demand for micronutrients for high farming yield and better profitability of farming activities. The Asia Pacific region is expected to grow at the highest rate at the backdrop of increasing food demand in countries such as India, China, and Japan due to high population growth and varying food demand across the region. Global players are entering into this region in collaboration with domestic companies. For example, in 2017, U.S. Agri central Indigo AG partnered with Indian Seed major Mahyco India to develop biological products targeted at Indian markets. The adoption of organic farming in major cities of these counties is also opening new opportunities for micronutrient companies to build products for specific industrial needs.
COVID-19 IMPACT
Because of interrupted supply chains and weak demand for a long time, the COVID-19 pandemic impacted nearly every sector of the global economy. During the pandemic period, agriculture was one of the rare exceptions. The demand for food goods was generally unaffected throughout this period due to its priority sector position and healthy rural eco-system. Businesses in the agriculture and food industries have benefited from measures adopted by governments around the area. Companies and government agencies collaborate to create sustainable farming solutions to enhance food quality and raise agricultural revenue for rural areas. With increasing food demand and promoting farming-friendly schemes, demand for Agri input products such as fertilizers and seeds also increased drastically. Due to governments' relative unaffected demand and business helping policies, the micronutrient market saw steady growth during the volatility of the COVID-19 pandemic.
KEY PLAYERS
Some of the major companies in the global micronutrient industry are Akzo Noel N.V., BASF SE, Bayer Crop Science, ADAMA Agricultural Solutions, Nufam Limited, The Dow Chemical Co., Agrium Inc., Yara International, Stoller USA, Baicore Inc., Sumimoto International AG, Syngenta International, The Mosaic Company, Verdesian Life Sciences LLC, and ATP Nutrition.
Research and development-oriented collaborations among global player is a significant trend observed in the industry. ADAMA and Ceradis B.V. announced in November 2017 that they had engaged in a research and development partnership to create new, innovative, and sustainable crop protection solutions using ADAMA's active components and Ceradis' technology. Another significant trend in the market is that manufacturers are increasingly focusing on expanding their production capacity for chelated fertilizers. In June 2017, for example, AkzoNobel invested more than US$11.09 million in Sweden to boost power for its chelated micronutrients, which are used as essential components in agriculture.
The market size and forecast for each segment and sub-segments has been considered as below:
- Historical Year – 2016 to 2018
- Base Year – 2019
- Estimated Year – 2020
- Projected Year – 2021 to 2027
TARGET AUDIENCE
- Manufacturers
- Raw Material Suppliers
- Distributors
- Original Equipment Manufacturers
- Consulting Firms
- Government and Regional Agencies
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL CHELATED IRON AGRICULTURAL MICRONUTRIENT MARKET KEY PLAYERS
- Akzo Noel N.V.
- BASF SE
- Bayer Crop science
- ADAMA Agricultural Solutions
- Nufam Limited
- The Dow Chemical Co.
- Agrium Inc.
- Yara International
- Stoller USA
- Baicore Inc.
- Sumimoto International AG
- Syngenta International
- The Mosaic Company
- Verdesian Life Sciences LLC
- ATP Nutrition.
GLOBAL CHELATED IRON AGRICULTURAL MICRONUTRIENT MARKET, BY TYPE
- Organic
- Inorganic
GLOBAL CHELATED IRON AGRICULTURAL MICRONUTRIENT MARKET, BY APPLICATION
- Cereals
- Pulses and Oilseeds
- Fruits and vegetables
GLOBAL CHELATED IRON AGRICULTURAL MICRONUTRIENT MARKET, BY REGIONS
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Rest of MEA
TABLE OF CONTENT
1. CHELATED IRON AGRICULTURAL MICRONUTRIENT MARKET OVERVIEW
1.1. Study Scope
2. EXECUTIVE SUMMARY
2.1. Market Snippet
2.1.1. Market Snippet by Types
2.1.2. Market Snippet by Applications
2.1.3. Market Snippet by Region
2.2. Competitive Insights
3. CHELATED IRON AGRICULTURAL MICRONUTRIENT KEY MARKET TRENDS
3.1. Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Market Opportunities
3.4. Market Future Trends
4. CHELATED IRON AGRICULTURAL MICRONUTRIENT APPLICATION STUDY
4.1. Porter’s Five Forces Analysis
4.2. Marketing Strategy Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. CHELATED IRON AGRICULTURAL MICRONUTRIENT MARKET: COVID-19 IMPACT ANALYSIS
5.1. Pre-COVID-19 Impact Analysis
5.2. Post-COVID-19 Impact Analysis
5.2.1. Top Performing Segments
5.2.2. Marginal Growth Segments
5.2.3. Top Looser Segments
5.2.4. Marginal Loss Segments
6. CHELATED IRON AGRICULTURAL MICRONUTRIENT MARKET LANDSCAPE
6.1. Market Share Analysis, 2019
6.2. Key Innovators Analysis
6.3. Breakdown Data, by Key Manufacturer
6.3.1. Established Players’ Analysis
6.3.2. Emerging Players’ Analysis
7. CHELATED IRON AGRICULTURAL MICRONUTRIENT MARKET – BY TYPES
7.1. Overview
7.1.1. Segment Share Analysis, By Type, 2020 & 2027 (%)
7.2. Organic
7.2.1. Overview
7.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
7.3. Inorganic
7.3.1. Overview
7.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8. CHELATED IRON AGRICULTURAL MICRONUTRIENT – BY APPLICATIONS
8.1. Overview
8.1.1. Segment Share Analysis, By Applications, 2020 & 2027 (%)
8.2. Cereals
8.2.1. Overview
8.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8.3. Pulses & Oilseeds
8.3.1. Overview
8.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8.4. Fruits & Vegetables
8.4.1. Overview
8.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9. CHELATED IRON AGRICULTURAL MICRONUTRIENT MARKET– BY GEOGRAPHY
9.1. Introduction
9.1.1. Segment Share Analysis, By Geography, 2020 & 2027 (%)
9.2. North America
9.2.1. Overview
9.2.2. Key Manufacturers in North America
9.2.3. North America Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.2.4. North America Market Size and Forecast, By types, 2016 - 2027 (US$ Billion)
9.2.5. North America Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.2.6. U.S.
9.2.6.1. Overview
9.2.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.2.6.3. U.S. Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.2.6.4. U.S. Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.2.7. Canada
9.2.7.1. Overview
9.2.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.2.7.3. Canada Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.2.7.4. Canada Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.3. Europe
9.3.1. Overview
9.3.2. Key Manufacturers in Europe
9.3.3. Europe Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.3.4. Europe Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.3.5. Europe Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.3.6. Germany
9.3.6.1. Overview
9.3.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.6.3. Germany Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.3.6.4. Germany Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.3.7. Italy
9.3.7.1. Overview
9.3.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.7.3. Italy Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.3.7.4. Italy Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.3.8. United Kingdom
9.3.8.1. Overview
9.3.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.8.3. U.K. Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.3.8.4. U.K. Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.3.9. France
9.3.9.1. Overview
9.3.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.9.3. France Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.3.9.4. France Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.3.10. Rest of Europe
9.3.10.1. Overview
9.3.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.10.3. Rest of Europe Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.3.10.4. Rest of Europe Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.4. Asia Pacific
9.4.1. Overview
9.4.2. Key Manufacturers in Asia Pacific
9.4.3. Asia Pacific Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.4.4. Asia Pacific Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.4.5. Asia Pacific Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.4.6. India
9.4.6.1. Overview
9.4.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.4.6.3. India Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.4.6.4. India Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.4.7. China
9.4.7.1. Overview
9.4.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.4.7.3. China Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.4.7.4. China Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.4.8. Japan
9.4.8.1. Overview
9.4.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.4.8.3. Japan Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.4.8.4. Japan Market Size and Forecast, By Applications, 2016 - 2027 (US billion)
9.4.9. Rest of APAC
9.4.9.1. Overview
9.4.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.4.9.3. Rest of APAC Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.4.9.4. Rest of APAC Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.5. Latin America
9.5.1. Overview
9.5.2. Key Manufacturers in Latin America
9.5.3. Latin America Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.5.4. Latin America Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.5.5. Latin America Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.5.6. Brazil
9.5.6.1. Overview
9.5.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.5.6.3. Brazil Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.5.6.4. Brazil Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.5.7. Mexico
9.5.7.1. Overview
9.5.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.5.7.3. Mexico Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.5.7.4. Mexico Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.5.8. Argentina
9.5.8.1. Overview
9.5.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.5.8.3. Argentina Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.5.8.4. Argentina Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.5.9. Rest of LATAM
9.5.9.1. Overview
9.5.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.5.9.3. Rest of LATAM Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.5.9.4. Rest of LATAM Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.6. Middle East and Africa
9.6.1. Overview
9.6.2. Key Manufacturers in Middle East and Africa
9.6.3. Middle East and Africa Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.6.4. Middle East and Africa Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.6.5. Middle East and Africa Market Size and Forecast, By Applications, 2016 - 2027 (US$ Billion)
9.6.6. Saudi Arabia
9.6.6.1. Overview
9.6.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.6.6.3. Saudi Arabia Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.6.6.4. Saudi Arabia Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.6.7. United Arab Emirates
9.6.7.1. Overview
9.6.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.6.7.3. U.A.E. Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.6.7.4. U.A.E. Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.6.8. Rest of MEA
9.6.8.1. Overview
9.6.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.6.8.3. Rest of MEA Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.6.8.4. Rest of MEA Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
10. KEY VENDOR ANALYSIS
10.1. Competitive Dashboard
10.2. Company Profiles
10.2.1. Akzo Noel N.V
10.2.1.1. Company Overview
10.2.1.2. Financial Performance
10.2.1.3. Product Benchmarking
10.2.1.4. Strategic Initiatives
10.2.2. BASF SE
10.2.3. Bayer Crop Science
10.2.4. ADAMA Agricultural Solutions
10.2.5. Nufam Limited
10.2.6. The Dow Chemical Co.
10.2.7. Agrium Inc.
10.2.8. Yara International
10.2.9. Stoller USA
10.2.10. Baicore Inc.
10.2.11. Sumimoto International AG
10.2.12. Syngenta International
10.2.13. The Mosaic Company
10.2.14. Verdesian Life Sciences LL
10.2.15. ATP Nutrition.
11. 360 DEGREE ANALYST VIEW
12. APPENDIX
12.1. Research Methodology
12.2. References
12.3. Abbreviations
12.4. Disclaimer
12.5. Contact Us
