AP NEWS
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Global Chelated–iron Agricultural Micronutrients Market to Reach US$ 81.43 Million by 2027 – Coherent Market Insights

December 18, 2019 GMT

SEATTLE--(BUSINESS WIRE)--Dec 18, 2019--

The global chelated–iron agricultural micronutrients market was valued at US$ 44.98 million in 2018, and is expected to exhibit a CAGR of 6.8% over the forecast period (2019–2027).

Definition of Market/Industry:
Chelated-iron agricultural micronutrients are a rich source of iron and are primarily used in the form of fertilizer to enhance the fertility of the soil and provide nutrients to the soil which can be easily absorbed by the plant. Moreover, it also helps in balancing crop nutrition and facilitate the proper growth of the plant. They are available in pellets, granules or powder form. Granule and powder forms can be used with water as they are water-soluble.

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).

Request your Sample PDF copy @ https://www.coherentmarketinsights.com/insight/request-sample/3140

Drivers:

Rising demand for high yield crops due to increasing population and lack of agricultural land is projected to propel the market growth of chelated-iron agricultural micronutrients. High demand for chelated-iron agricultural micronutrients from low-rainfall areas coupled with the growing soil infertility across the globe is further projected to fuel the market growth.

Moreover, increasing initiatives taken by players operating in the market towards development of innovative products for enhancing crop yield is projected to boost the market growth of chelated-iron agricultural micronutrients. For instance, on August 4, 2015, Dow Chemical International Pvt. Ltd. (Dow India), launched its new product for soil enrichment, Nutribuild, which is available as a chelated fertilizer mix for standard micronutrients as well as non-chelated silicon micronutrient.

Market Opportunities

Rising adoption of modern agricultural practices across the globe coupled with the growing usage of fortified fertilizers with chelated micronutrients is projected to offer new growth opportunities to the market of chelated-iron agricultural micronutrients.

Furthermore, increasing government initiatives for encouraging agriculture in order to meet the demand for food subjected to a growing population is projected to fuel the market growth over the forecast period. For instance, in 2015, the Government of India launched the ‘Soil Health Card’ scheme to assist state governments in India to issue Soil Health Cards to all farmers in the country. The Soil Health Cards provide information to farmers on the nutrient status of their soil along with recommendations on the appropriate dosage of nutrients to be applied for improving soil health and its fertility.

Market Restraint

High cost of raw materials is projected to hinder the market growth of the chelated-iron agricultural micronutrients. Furthermore, changing climatic conditions due to global warming is further projected to hamper the market growth of chelated-iron agricultural micronutrients.

Market Trends

Rising demand for high-quality fruits and vegetables among consumers is projected to add immense growth to the market over the forecast period. Moreover, growing awareness regarding good farming practices is expected to encourage farmers to adopt chelated fertilizers, hence propelling the market growth of chelated-iron agricultural micronutrients.

Shifting preference of people towards the beautification of cities and making green cities due to rising concern of global warming is projected to propel the market growth of chelated-iron agricultural micronutrients. Moreover, rising initiatives by the government for increasing plantation and reducing carbon footprint is also projected to boost the market growth of chelated-iron agricultural micronutrients.

Competitive Section:

Company Names

Buy this Report (Single User License) @ https://www.coherentmarketinsights.com/insight/buy-now/3140

Key Developments:

Taxonomy (Scope, Segments)

By Geography

By Application

View source version on businesswire.com:https://www.businesswire.com/news/home/20191218005468/en/

CONTACT: Mr. Raj Shah

Coherent Market Insights

1001 4th Ave.

#3200

Seattle, WA 98154

Tel: +1-206-701-6702

Email:sales@coherentmarketinsights.com

KEYWORD: WASHINGTON UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: AGRICULTURE NATURAL RESOURCES MANUFACTURING OTHER NATURAL RESOURCES CHEMICALS/PLASTICS

SOURCE: Coherent Market Insights

Copyright Business Wire 2019.

PUB: 12/18/2019 10:03 AM/DISC: 12/18/2019 10:03 AM

http://www.businesswire.com/news/home/20191218005468/en