Global Iron Chelates Market Size By Crop Type (Fruits And Vegetables, Cereals And Grains, Oilseeds And Pulses), By Geographic Scope And Forecast
Published Date: July - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Iron Chelates Market size was valued at USD 102.46 Million in 2024 and is projected to reach USD201.89 Million by 2031, growing at a CAGR of 9.76% during the forecast period 2024-2031.
Increasing demand for good quality and higher crop yields, and increasing initiatives taken by players operating in the market towards the development of innovative products, will drive market growth. Rising demand for high-yield crops due to rising population and a scarcity of agricultural land is expected to drive iron chelate market growth. The Global Iron Chelates Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Iron Chelates Market Definition
So, iron chelates? Think of them as an iron supplement for your plants, but with a special twist! They've been treated with a "chelator" – a little helper that keeps the iron in a form the plant can actually use. They're specifically made to rescue plants suffering from iron chlorosis, a kind of iron deficiency where they just can't grab iron from the soil. You might also hear it called lime chlorosis or iron chlorosis. If your plant's got it, you'll notice the leaves slowly turning pale and eventually dying off, and the plant’s growth will be stunted. Even worse, you'll see yellow leaves, especially in the areas between the dark green veins, making them look all spidery - that's a big sign of iron deficiency! Basically, the plants and their leaves just don't have that healthy, green vibrancy anymore.
Chelated iron contains ferric chelators, which are small binding molecules that wrap themselves around iron ions to prevent them from settling. This ensures that the iron given to the plants is available for absorption and does not solidify when exposed to high soil pH levels. Moreover, several crops have their own chelation mechanisms, and these crops are far less prone to suffering from iron deficiency. Exudates from the root systems of some plants, such as grassy plants, are released into the soil and contain naturally occurring chelates.
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Global Iron Chelates Market Overview
Okay, so here's the dealeveryone wants better crops, and more of them! That, plus companies really stepping up their game with new and improved products, is going to make the market boom. The need for crops that produce a lot, driven by a growing population and less farmland, is also a big factor. Think about it – FAO estimates say the land we irrigate will jump by 32 million hectares (that's 11%!), and harvested irrigated land is going up by 17% by 2050. The problem? All that growth is happening in countries that are already struggling. This means not enough fertilizer for crops, smaller harvests, and not-so-great food for us. It's a huge issue, especially since there’s less good land to grow food on, and we're being pushed to use soil that's not the best.
In this segment, fertigation (the application of plant nutrients in a liquid solution) is critical. As a result, iron chelated fertilizer promotes micronutrient bioavailability, which contributes to the productivity, nutritional content, and profitability of commercial crop production. If the crop is produced in low-micronutrient stress or soils with a pH of more than 6.5, chelated fertilizers have a larger potential to boost commercial production than normal micronutrients.
Global Iron Chelates Market Segmentation Analysis
The Global Iron Chelates Market is segmented on the basis of Crop Type, and Geography.
Iron Chelates Market, By Crop Type
Fruits & Vegetables
Cereals & Grains
Oilseeds & Pulses
Others
To Get Summarized Market Report By Crop Type-
Based on Crop Type, the market is bifurcated into Fruits & Vegetables, Cereals & Grains, Oilseeds & Pulses, Others. Fruits & Vegetables accounted for the largest market share of 46.92% in 2021, with a market value of USD 135.54 Million and is projected to grow at the highest CAGR of 10.24% during the forecast period. Cereals & Grains was the second-largest market in 2021, valued at USD 87.32 Million in 2021; it is projected to grow at a CAGR of 9.72%.
Iron Chelates Market, By Geography
North America
Europe
Asia Pacific
Rest of the world
To Get Summarized Market Report By Geography-
On the basis of regional analysis, the Global Iron Chelates Market is classified into North America, Europe, Asia Pacific, and Rest of the world. Asia Pacific accounted for the largest market share of 39.07% in 2021, with a market value of USD 112.85 Million and is projected to grow at the highest CAGR of 10.59% during the forecast period. North America was the second-largest market in 2021, valued at USD 78.15 Million in 2021; it is projected to grow at a CAGR of 9.51%.
Key Players
The “Global Iron Chelates Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are BASF SE, Dow, Valagro, Titan Biotech, Nouryon, Global Crop Improvement Company (Gcic), Adob, Yara, Syngenta, Global Calcium Pvt Ltd, Haifa Negev Technologies Ltd, Agro Egypt International, Compo Expert Gmbh, Trade Corporation International, Sipcam Inagra, and Others.The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Key Developments
BASF SE has partnered with LanzaTech for utilizing industrial off-gases for chemical production by transforming the carbon contained in industrial off-gases into valuable chemicals.
BASF introduced Neutrol MGDA, a readily biodegradable complexing agent (chelating agent) for personal care applications.
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2021-2031
BASE YEAR
2024
FORECAST PERIOD
2024-2031
HISTORICAL PERIOD
2021-2023
UNIT
Value (USD Million)
KEY COMPANIES PROFILED
BASF SE, Dow, Valagro, Titan Biotech, Nouryon, Global Crop Improvement Company (Gcic), Adob, Yara, Syngenta, Global Calcium Pvt Ltd, & Others
SEGMENTS COVERED
By Crop Type
By Geography
CUSTOMIZATION SCOPE
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