Research Nester assesses the growth and market size of the global ferrous sulfate market which is anticipated to be on account of the increasing demand for iron supplements and the growing awareness of iron-deficiency anemia worldwide.
Research Nester’s recent market research analysis on “Ferrous Sulfate Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitor’s analysis and a detailed overview of the global ferrous sulfate market in terms of market segmentation by application, end user, and by region.
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Increasing Demand for Iron Supplements to Promote Global Market Share of Ferrous Sulfate
The growth of the market is mainly attributed to the increasing demand for iron supplements and increasing awareness of iron deficiency anemia. The World Health Organization (WHO) estimates that more than 30% of the world's population suffers from anemia, and iron deficiency anemia is the most common form of anemia. Anemia is a condition that occurs when the body does not have enough healthy red blood cells to carry oxygen to body tissues.
Iron sulfate is also used in water treatment, agriculture, and the textile industry. It is used as a flocculant in water treatment plants, as a nutrient for crops, and as a dye in the textile industry. Therefore, it is estimated that this will boost the growth of the global Ferrous Sulfate market.
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Some of the major growth factors and challenges that are associated with the growth of the global ferrous sulfate market are:
Growth Drivers:
• Rising prevalence of iron-deficiency anemia
• Growing demand for agricultural products
Challenges:
The prices of the raw materials used in the production of Ferrous Sulfate, such as iron ore, sulfuric acid, and scrap, can be volatile and subject to price fluctuations, which can affect production costs. Fluctuations in raw material prices are some of the major factors anticipated to hamper the global market size of ferrous sulfate.
By application, the global ferrous sulfate market is segmented into agriculture, food fortification, and pharmaceuticals. The agriculture segment is to garner the highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. The growth of the segment is owing to the increasing demand for organic food. The demand for organic food is growing and ferrous sulfate is approved for use in organic farming as a source of iron. This is expected to boost demand for ferrous sulfate in the agricultural segment in the coming years. In a survey, 66% of consumers in the United States said they buy organic food at least occasionally, and 23% said they always or most of the time buy organic food.
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By region, the Asia Pacific ferrous sulfate market is to generate the highest revenue by the end of 2035. The regional growth is owing to the growing agricultural industry. Agriculture is the largest application segment for ferrous sulfate in the Asia Pacific. According to the Food and Agriculture Organization (FAO), Asia accounts for more than 90% of the world's rice production, which is one of the most important crops treated with ferrous sulfate. The growing demand for food and the need to improve crop yields are driving the growth of the ferrous sulfate market in the region. The increasing prevalence of iron deficiency anemia in the Asia-Pacific region is also driving demand for ferrous sulfate in the pharmaceutical industry.
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This report also provides the existing competitive scenario of some of the key players of the global ferrous sulfate market which includes company profiling of Venator Materials PLC, Chemifloc Limite, LKAB Minerals A, Gokay Mining and Chemicals, and others.
Access our detailed report at: https://www.researchnester.com/reports/ferrous-sulfate-market/4985
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