Chelated-Iron Agricultural Micronutrient Market To Reach US$ 81.78 Million By 2027 | ADAMA Agricultural Solutions Ltd., Agrium Inc., Akzo Nobel N.V.

Chelated-iron micronutrients are majorly used in the soil to reduce the iron deficiency in the soil. They are important for soil by providing metal ion to the soil which can be directly absorbed by plant or crop. Moreover, these micronutrients prevent the precipitation of metal with phosphates which can hamper the quality of the soil. Additionally, they also regulate and control the physiological activities in crops to improve the crop yield.

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Competitive Landscape:
Novartis International AG, Kite Pharma, Inc. (Gilead Sciences, Inc.), Juno Therapeutics (Celgene Corporation), Bluebird Bio, Inc. (Celgene Corporation), Sorrento Therapeutics Inc., Mustang Bio, Inc., Aurora Biopharma Inc., Legend Biotech (Genscript Biotech Corporation), Pfizer, Inc., CARsgen Therapeutics, Ltd., and others.

Key Drivers

Lack of arable land due to growing industrialization and deforestation activities is creating demand for high yield crops production. This in turn fostering growth of the market. New research has calculated that nearly 33% of the world’s adequate or high-quality food-producing land has been lost at a rate that far outstrips the pace of natural processes to replace diminished soil. The world has lost a third of its arable land due to erosion or pollution in the past 40 years.

Deficiency of iron in soil majorly across Mediterranean region is again augmenting growth of the chelated–iron agricultural micronutrient market. High demand for effective fertilizers for nutrition enriched crops due to increasing cases of iron-deficiency cases such as anemia around the globe is further anticipated to foster growth of the market.

Covid-19 Impact Analysis
The agricultural value chain was severely affected by the Covid-19 crisis. The industry has remained a central pillar of the economy as it serves the food consumption needs around the globe. The outbreak of the virus has adversely affected the supply chain and agriculture production. This condition has put restrictions on the export and import of food grains which has severely affected the agriculture sector. However, economic activity is up and running now which may support the agriculture industry to get back to its feet as soon as possible.

Key Takeaways:
1. The chelated–iron agricultural micronutrient market is expected to exhibit a CAGR of 6.8 % over the forecast period owing to the lack of arable land and rising need for high crop yield production.

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2. Asia Pacific is expected to witness significant growth over the forecast period owing to the strong presence of agriculture sector in the region. The Economic Survey of India 2020-21 report stated that in FY20, the total food grain production in the country was recorded at 296.65 million tons—up by 11.44 million tons compared with 285.21 million tonnes in FY19.

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