CHELATED–IRON AGRICULTURAL MICRONUTRIENT MARKET ANALYSIS

Chelated–Iron Agricultural Micronutrient MarketSize and Trends

Statistics:

The global chelated-iron agricultural micronutrients market was valued at US$ 44.98 Mn in 2018 and is anticipated to reach US$ 81.43 Mn by the end of 2027, growing at a CAGR of 6.8% during the forecast period (2019 to 2027).

Statistics:

North America region dominated the global chelated-iron micronutrients market in 2018, accounting for 46.6% share in terms of value followed by North America and Europe.

Market Trends/Key Takeaways

Rising trend of fortifying fertilizer products with chelated micronutrients in order to improve the soil fertility and prevent nutritional deficiency in the plant is expected to boost the market growth of chelated-iron agricultural micronutrients over the forecast timeframe.

Increasing initiatives by the government for encouraging agriculture in order to meet the rising need of food across the globe is expected to foster market growth over the forecast period. Moreover, rising focus on expansion of production capacity by manufacturer for chelated fertilizers is another major trend that has been observed in the market. For instance, in June 2017 AkzoNobel invested more than US$11.09 million in Sweden to expand capacity for its chelated micronutrients, which are used as essential ingredients in the agricultural market.