Total sales volume, year-over-year growth, product categories, and market share.
Ferrous Sulfate Market Defination
The ferrous sulfate market is primarily driven by the compound’s applications in the pharmaceutical, nutraceutical, agricultural, and textile industries. The compound is widely used as an iron supplement for patients with anemia and prophylaxis, as well as for patients taking epoetin. Diet and lifestyle changes among consumers are leading to a large number of people suffering from iron deficiencies, leading to higher prescriptions of ferrous sulfate and, hence, increased demand for iron supplements. Reducing soil fertility is also leading to market expansion as ferrous sulfate is increasingly used in soils with low iron content.
While these factors are contributing to growth in the market, competition from alternative iron supplements and environmental concerns around the compound are restricting growth in the market. However, increased industrialization and urbanization in emerging economies in the Asia Pacific region are expected to drive growth in the market in the coming years. As pollution becomes a major concern, the use of ferrous sulfate in the treatment of wastewater is being explored.
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