Global Chelated-Iron Agricultural Micronutrient Market Is Anticipated To Witness Significant Growth Due To Increasing Demand For Healthy Food And Growing Need For Enhancing Crop Productivity

 

Overview:

In agriculture, crop quality and yields depend on the soil's ability to provide essential nutrients in a form that plants can absorb. Micronutrient deficiencies can impede this process, causing reduced yields. These deficiencies can be corrected by adding chelated micronutrients to the soil. During the chelation process, the micronutrient ion is surrounded by a larger molecule called a ligand. Ligands can be natural or synthetic chemicals. Some common chelators include ethylenediaminetetraacetic acid (EDTA), diethylenetriaminepentaacetic acid (DTPA) and ethylenediaminetetraacetic acid (EDDHA). Using a chelated iron fertilizer to treat iron deficiency can improve the uptake and bioavailability of iron, enhancing crop productivity. This can lead to a significant improvement in the overall quality of crops.

Market Dynamics:

Growing Chelated Iron Agricultural Micronutrient Market among key players is estimated to augment growth of the global chelated-iron agricultural micronutrient market over the forecast period. For instance, BASF and Cargill collaborated in October 2021, for animal nutrition business. This collaboration is aiming to develop, manufacture, and market customer-focused enzyme products and solutions for animals. Moreover, high cost of chelated-iron micronutrient fertilizers is anticipated to restrain growth of the global chelated-iron agricultural micronutrient market over the forecast period.

 

Impact of COVID-19:

 

The pandemic was declared as a public health emergency by the World Health Organization in 2020. The pandemic affected more than 100 countries across the world. Several governments imposed strict lockdowns so as to avoid further transmission of the disease. These lockdowns led to shutting down of manufacturing activities in many countries and it disrupted trade activities. Many supply chains were also disrupted owing to these restrictions. Agricultural activities were also slowed down and there was a decrease in demand for fertilizers and agricultural micronutrients. Supply chains disruptions and delay in transportation activities hampered the growth of the global Chelated Iron Agricultural Micronutrient Market during the pandemic.

 

 

Key Takeaways:

 

The global chelated-iron agricultural micronutrient market is expected to witness high growth, exhibiting CAGR of 6.8% over the forecast period, due to increasing acquisitions. For instance, Ecolan Oy was acquired by Yara Suomi in September 2021. This acquisition will help Yara in expanding their organic farming segment in Europe and also improve their nutrients use efficiency.

North America is anticipated to witness significant growth in the global chelated-iron agricultural micronutrient market over the forecast period, owing to growing technological advancements and easy availability of immense water supply.

Major players operating in the global Chelated Iron Agricultural Micronutrient Market are Nufarm Limited, Agrium Inc., Land O’Lakes Inc., Yara International Ltd., ADAMA Agricultural Solutions Ltd., AkzoNobel, Bayer CropScience AG, Compass Minerals International Inc., Novus International Inc., Monsanto Company, Alltech Inc., Associated British Foods Plc, CHR. Hansen Holdings A/S and BASF SE.