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Global Chelated-Iron Agricultural Micronutrient
Market : 2014 - 2020
Persistence Market Research
Global Chelated-Iron Agricultural
Micronutrient Market is Expected to grow
US$51.4 Mn by 2020 - Persistence Market
Research
Persistence Market Research
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Global Chelated-Iron Agricultural Micronutrient
Market : 2014 - 2020
Persistence Market Research Released New Market Report “Global Chelated-Iron
Agricultural Micronutrient Market is Expected to Grow US$51.4 Mn by 2020”, the global
chelated-iron agricultural micronutrient market is expected to account for US$36.9 Mn by the
end of 2015, and is anticipated to expand at a CAGR of 6.8% to reach US$51.4 Mn between
2015 end and 2020.
Presently, the chelated iron agricultural micronutrient market is mainly driven by factors such as poor soil
quality, increasing demand for quality food and government support to farmers in procuring high-grade
fertilizers. However, factors such as high product price, fluctuating economic conditions and supplydemand disruptions are expected to restrain the growth of the market.
Chelated iron agricultural micronutrient are those elements that are mixed with fertilizers to increase the
minerals supplement in the soil as most soils in various parts of the world are being rapidly depleted of
minerals. Companies are voluntarily fortifying fertilizers with chelated iron micronutrient to increase the
productivity of crops.
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By Region, Asia Pacific (APAC) was the largest market for chelated iron micronutrient with 44.8% share of
the overall market in 2014, followed by North America with 24.8%. Latin America is expected to exhibit
highest CAGR of 8.9% during the forecast period, followed by MEA, which is expected to expand at a
CAGR of 7.8%. APAC is forecast to remain the most significant market, with highest absolute $
opportunity.
The global chelated iron agricultural micronutrient market is anticipated to expand at a CAGR of 6.8 %
from 2015 to 2021, to reach US$51.4 Mn by 2020. In terms of volume, production of chelated iron
agricultural micronutrient stood at 9,037.7 Kg in 2014 and is expected to reach 12,194.5 Kg by 2020,
exhibiting a CAGR of 5.3%.
The market is segmented by crop type into cereals, pulses & oilseeds, fruits & vegetables and others. The
others segment is expected to witness highest CAGR during the forecast period, with 9.3% in terms of
value. However, the absolute $ opportunity growth is expected to be highest in the cereals segment,
which is projected to exhibit a CAGR of 6.6%. Fruits and vegetable segment is expected to register
second highest CAGR of 7.1% in terms of value and 5.5 in terms of volume.
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Global Chelated-Iron Agricultural Micronutrient
Market : 2014 - 2020
Key players in the global chelated iron agricultural micronutrients market that has been profiled in this
report include Agrium Inc., Yara International Ltd., AkzoNobel, Compass Minerals International Inc., BASF
SE, Monsanto Company, Bayer CropScience AG, ADAMA Agricultural Solutions Ltd., Land O’Lakes Inc.,
Nufarm Limited, Sumitomo Chemical Co., Ltd., Syngenta International AG, The Mosaic Company, ATP
Nutrition, Basic or, L.C., Brandt Consolidated Inc., Grow More Inc., Kay-Flo, Micnelf USA Inc., Nutra-Flo
Company (K- Flo), Stoller USA, Inc., Verdesian Life Sciences, LLC (QC Corporation) and DuPont.
Market Bytes:
Chelated micronutrients are produced by altering positively charged cat-ions to negatively charged
molecules. As soil itself is negatively charged, it repels negatively charged molecules of chelated
micronutrients, making it easily available for uptake by plants.Chelated iron micronutrient is mostly used
in calcareous (high pH) soils and soils low in organic matter.High intensive farming and modern fertilizers
have caused depletion of various micronutrients from the soil, which are essential for healthy plant
growth.Iron deficiency in plants causes chlorosis due to poor chlorophyll synthesis and also affects lignin
formation, energy transfer and nitrogen reduction and fixation in plants.
The global chelated iron micronutrient market was valued at around US$ 34.7 million in 2014. Asia Pacific
(APAC)was the largest market for chelated iron micronutrient with44.8% share of the overall market in
2014, followed by North America with 24.8%.Latin America is expected to exhibit highest CAGR of 8.9%
during the forecast period, followed by MEA, which is expected to expand at a CAGR of 7.8%. APAC is
forecast to remain the most significant market, with highest absolute $ opportunity.
The world population is continuously increasing and the demand for quality food is increasing rapidly,
especially in emerging markets as the purchasing power of buyers has grown significantly.Upgraded
farming practices and government subsidies to waive the fertilizers price for farmers have generated a
good demand for chelated iron micronutrient for crops like soybean, alfalfa and turf grass etc. Thus, the
market for chelated iron micronutrient is expected to exhibit a robust growth in the coming years.
The global chelated iron micronutrient market is expected to be valued atUS$ 51.4 million by the end of
2015, registering a CAGR of 6.8% between 2015 and 2020. In terms of volume, the market accounted for
9,037.7 Kg in 2014, which is expected to increase at a CAGR of 5.3% to reach 12,194.5 Kg by 2020.
By crop type, cereals were the largest segment, valued at US$ 21,030 thousand in terms of revenue and
5,289 Kg in terms of volume. In the same year, fruits and vegetables were the second largest segment by
crop type, accounting for around 28.0% and 30.6% share respectively of the market.
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Global Chelated-Iron Agricultural Micronutrient
Market : 2014 - 2020
Key market players in the chelated iron micronutrient marketincludeAgrium Inc., Yara International Ltd.,
AkzoNobel, BASF SE, Monsanto Company, Bayer CropScience and DuPont.
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