Chelated–Iron Agricultural Micronutrient Market

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2. CHELATED-IRON AGRICULTURAL MICRONUTRIENT MARKET ANALYSIS Chelated–Iron Agricultural Micronutrient Market Report, by Application (Cereals, Fruits & vegetables, Pulses & Oilseeds and Others), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027

3. Definition of Market/Industry: • Chelated-iron micronutrients are mostly used in the soil with high pH value and soil with low organic matter content to reduce the iron deficiency in the soil. Chelated-iron micronutrients are beneficial for soil by providing metal ion to the soil which can be directly absorbed by plant or crop. They help to prevent the precipitation of metal with phosphates in the soil which can impact the quality of the soil. Moreover, they control and regulate the physiological activities in crops to enhance the crop yield. • 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). • Drivers: • Increasing deforestation activities and industrialization has resulted in lack of arable land across the globe which in turn has led to the growing demand for high yield crop production.  This is expected to fuel the growth of the chelated-iron agricultural micronutrients market over the forecast period. Moreover, deficiency of iron in soil especially in the Mediterranean region is also raising the demand for chelated-iron micronutrients. • The growing population base is raising the demand for effective fertilizers for nutrition enriched crops due to rising cases of iron-deficiency cases such as anemia around the globe. Increasing initiatives of preventing and reducing anemia cases is expected to propel the market growth of chelated-iron agricultural micronutrients. According to the article, ‘Global Nutrition Targets 2025-Anaemia Policy Brief’ published by World Health Organization (WHO) in 2014, in 2012, WHO has set the target of 50% reduction of anaemia in women of reproductive age by 2025. • 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.

4. Figure 1. Global Chelated-Iron Agricultural Micronutrients Market Share, By Region, 2018

5. Market Restraints • The high cost of chelated-iron micronutrients fertilizers is a major factor expected to hamper the market growth of chelated-iron micronutrients. Other factors such as harsh climatic conditions and changing government rules and regulations are also expected to curb the market growth of chelated-iron agricultural micronutrients. • Moreover, fluctuating economic condition which leads to uneven supply-demand is also expected to hinder the market growth of the chelated-iron agricultural micronutrients. Moreover, nations with weak government regulations have a negative impact on the raw materials which are used for crop production, this is also expected to restrain the market growth of chelated-iron agricultural micronutrients.

6. Market Opportunities • Rising usage of chelated-iron micronutrients fertilizers in ornamental plants and turf-grasses coupled with the increasing government initiatives for creating greenery such as green gardens and leisure parks is projected to foster the market growth of chelated-iron agricultural micronutrients over the forecast period. • The growing application of chelated-iron micronutrient fertilizers in the production of soybean and alfalfa crops is another major factor expected to fuel the growth of the market over the forecast timeframe.

7. Figure 2. Global Chelated-Iron Agricultural Micronutrients Market - Opportunity Analysis

8. 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.

9. Figure 3. Global Chelated-Iron Agricultural Micronutrients Market Share, By Application, 2018 Based on applications, cereals segment accounted for the largest revenue share of 58.5% in terms of value in 2018, followed by fruits and vegetables and pulses and oilseeds segment.

10. Competitive Section: • Company Names  • ADAMA Agricultural Solutions Ltd. • Agrium Inc. • Akzo Nobel N.V. • Auriga Industries A/S • BASF SE • Bayer CropScience AG • Compass Minerals International Inc. • E. I. DUPONT DE NEMOURS AND COMPANY • Land O’Lakes Inc. Monsanto Co. • Nufarm Limited • Sumitomo Chemical Co., Ltd • Syngenta International AG • The Dow Chemical Co. • The Mosaic Company • Yara International ASA • Other Companies

11. ATP Nutrition • Baicor, 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) • Few Recent Developments • ADAMA Agricultural Solutions Ltd • In November 2017, ADAMA and Ceradis B.V. announced they have entered into an R&D agreement to develop new, innovative and sustainable crop protection products based on ADAMA’s active ingredients and Ceradis’ technology

12. Bayer Crop Science AG • In January 2015, Bayer CropScience’s new insecticide Sivanto was registered in the U.S. The product was developed to control pest’s attacks on fruits and vegetables and is anticipated to be available by the end of 2015 • In February 2015, Bayer CropScience launched YouFarm International, the first global web video competition for farmers, to help increase awareness and boost understanding of modern agriculture techniques • In February 2015, Bayer CropScience and GLOBALGAP signed an agreement to further strengthen their collaboration for the implementation of sustainable farm practices to help fruit and vegetable growers worldwide • E. I. Dupont De Nemours And Company  • In March 2015, DuPont Pioneer hybrid maize study demonstrated great yield advantage of AQUAmax and Optimum branded maize hybrid seeds, which can enable farmers to achieve more stable yields under drought-stress conditions and high productivity potential in favorable growing conditions • The Dow Chemical Co. • In August 2015, Dow Chemical International Pvt. Ltd. (Dow India) on August 4, 2015 launched its new product for soil enrichment, Nutribuild, which will be available as a chelated fertiliser mix for standard micronutrients as well as non-chelated silicon micronutrient in Maharashtra

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