Agricultural Chelates Market is expected to grow at 6.7% CAGR from 2022 - 2027 and it is estimated that the global market was valued at USD 541.4 million in 2021 and is relied upon to reach USD 751.0 million by 2026. Degradation of soil, increased modern farming practices, and demand for chelated iron micronutrients are key factors driving the market. The high growth potential in emerging markets and untapped regions provides market players with new growth opportunities.
Micronutrients are essential in agriculture for increasing the yield and enhancing the quality of agricultural produce. Though required in very small quantities, these essential elements are consumed by plants to carry out important bodily functions. They are effectively supplied by complexes containing chelated compounds, these compounds being more stable than their non-chelated compounds. The most commonly used chelates are EDTA, DPTA, and EDDHA. Micronutrients such as iron, zinc, copper, manganese, calcium, and magnesium can be chelated easily, while the other nutrients cannot be readily chelated.
Agricultural Chelates Market Drivers:
The driving factors of the market are the increasing demand for high-yielding good quality crops. These chelate compounds also help in removing toxicity due to excess micronutrients and play an important role in helping plants overcome micronutrient deficiency, thereby increasing profits by overcoming agricultural economies. Increasing demand for biofuels is further expected to aid market growth. Rapid depletion of crude oil deposits and rising environmental concerns regarding the harmful effects of petroleum products on the environment are further aiding the research to find a sustainable alternative.
Bioethanol and biodiesel are considered sustainable alternatives. Both of these products are derived from biofuels such as waste vegetable and waste vegetable oils, Therefore, an enlarged interest for biofuels has prompted the interest in food grains and crops, which will fuel the demand for agricultural micronutrients. Factors such as the high cost associated with chelating agents and increasing environmental concern over non-biodegradable chelates are major constraints limiting the market growth. But with the increasing emphasis on research and product development by companies to produce organic and biodegradable chelates and advantages associated with the increasing adoption of hydroponics technology is boosting the growth of the agricultural chelates market.
AGRICULTURAL CHELATES MARKET REPORT COVERAGE:
REPORT METRIC |
DETAILS |
Market Size Available |
2022 - 2027 |
Base Year |
2020 |
Forecast Period |
2022 - 2027 |
CAGR |
6.7% |
Segments Covered |
By Type, By Application, By Crop Type |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
BASF SE, Haifa Chemicals, Syngenta AG, AkzoNobel N.V., and Nufarm Ltd. |
Market Segmentation:
EDTA
EDTA chelate isolates metal ions, such as calcium ions and ferrous ions, and forms weak bonds with metal nutrients, such as zinc, iron, and copper. EDTA chelates being comparatively less expensive and easily available also helps to treat harmful lead poisoning in the soil by removing the toxins, such as lead, cadmium, and mercury. These factors have further helped the demand for EDTA chelates.
Soil application in the agricultural chelates market is growing as soil nutrition is necessary to increase the productivity of crops. Crops witness a usual deficiency of iron and therefore chelated iron micronutrients are applied in the soil to provide the required amount of nutrition for enhanced crop production. Bioethanol and biodiesel are considered the most sustainable alternatives to conventional fuel. Bioethanol is sourced from wheat, soybean, corn, rapeseed, and sugarcane, whereas biodiesel is sourced from Jatropha, sunflower, soybean, mustard, rapeseed, flax, canola, palm oil, hemp, and waste vegetable oils. The absolute growth opportunity is expected to be highest in the cereals segment followed by fruits and vegetables.
Geographical Analysis:
On the basis of geography, the global market is analyzed under various regions namely
with Asia-Pacific being the largest user of agricultural chelates. EDTA is the most widely used chelating agent, while organic chelates are gaining increasing importance in the North American agricultural chelates market. With agricultural chelates being widely used in the horticulture industry, the growth of agricultural chelates is expected to be the highest in Mexico.
Key Players:
BASF SE, Haifa Chemicals, Syngenta AG, AkzoNobel N.V., and Nufarm Ltd. collectively accounted for the largest portion of the agricultural chelates market. Deretil Agronutritional, Shandong IRO Chelating Chemicals Co. Ltd., Protex International, lagro SPA, and Van Iperen International also have a strong presence in this market.
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 1800
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: sales@marketdataforecast.com
Reports By Region