The global agricultural chelates market size is anticipated to expand at a robust CAGR during the forecast period, 2021-2028. The growth of the market is attributed to increasing demand for high-value crops such as gourmet mushrooms, lavender, and garlic due to the expanding population and reduced arable land. Moreover, chelate compounds play a vital role in enhancing crop yields to overcome micronutrient deficiency, which is driving the market growth.
Agricultural chelates are used in fertilizers to enhance the performance of agricultural fertilizers. These chelates that are added in the fertilizers has the ability to enhance the yield of the crop. Different types of agricultural chelates such as EDTA, DTPA, IDHA, and EDDHA are utilized in agricultural applications.
Micronutrient fertilizers such as iron, zinc, copper, manganese are often chelated by these agricultural chelates. The performance and efficiency of micronutrients can be increased by the usage of these chelates.
Agricultural chelates are applied in the agricultural application based on the type of fruit, vegetable, oilseed, and pulse cultivated. These chelates have a variety of applications in soil, foliar, and fertigation. Foliar spray is one of the efficient methods to increase crop yield. It is reported that on the even spread of foliar spray, it leads to high absorption of nutrients, low nutrient loses, and offers improved crop yield as compared to standard fertilizers. It is mainly used on high-value crops, such as cotton, corn, and soybean.
Agricultural Chelates Market Trends, Drivers, Restraints, and Opportunities
- Increasing awareness about the application of agricultural chelates is one of the major drivers that is contributing to the growth of the market.
- Growing adoption of irrigation system is expected to augment the agricultural chelates market growth.
- Rising accumulation of non-biodegradable chelates can damage crops and soil. Thus, such factor can restraint the market growth.
- Rapid growth of the organic fertilizers industry and the lack of awareness among farmers can hinder the market growth.
- Ongoing technological advancement in the farming industry and strong growth in fertilizer consumption in emerging economies are expected to propel the market growth during the forecast period.
Scope of Agricultural Chelates Market Report
The report on the global agricultural chelates market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Agricultural Chelates Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Types (EDTA, EDDHA, DTPA, IDHA, and Others), Applications (Soil, Foliar, Hydroponics, and Others), and Crop Applications (Grains and Cereals, Oilseed, Fruits and Vegetables, Turf and Ornamentals, Commercial Crops and Others)
North America, Latin America, Europe, Asia Pacific and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
BASF SE, Nouryon, The Dow Chemical Company, Yara International, ICL, Haifa Chemicals Ltd, Syngenta, Nufarm Ltd, Aries Agro Ltd, The Andersons Inc., ATP nutrition, Manvert, BMS-Micronutrients NV, Wilbur-Ellis company y, Compo Expert GMBH, Greensmiths, Inc., Agmin Chelates Pty. Ltd, Van Iperen International, Valagro SpA, Shandong Iro Chelating Chemical Co., Ltd., Protex International SA, and Deretil Agronutritional.
Agricultural Chelates Market Segment Insights
IDHA segment to grow at a rapid pace
Based on types, the market is divided into EDTA, EDDHA, DTPA, IDHA, and others. The EDTA segment is anticipated to account for a significant market share and is anticipated to grow at a steady rate during the forecast period. In 2020, the EDTA accounted for more than 50% of the agricultural chelate market. However, the IDHA segment is expected to grow at a rapid rate owing to its biodegradability.
Hydroponics segment to account a major market share
Based on applications, the market is segregated into soil, foliar, hydroponics, and others. The hydroponics segment is anticipated to account for a major market share due to its ability to grow plants and vegetables faster than outdoor plantation process. On the other hand, the foliar segment is anticipated to grow at a steady rate during the forecast period.
Fruits and Vegetables segment to exhibit a high CAGR
Based on crop applications, the market is bifurcated into grains and cereals, oilseed, fruits and vegetables, turf and ornamentals, commercial crops and others. The fruits and vegetables segment is projected to exhibit a high CAGR during the forecast period. Increasing consumer preference for health-enriching diet is driving the segment growth.
Asia Pacific to account a significant market share
On the basis of regions, the market is segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is anticipated to account for a significant market share owing to rapid urbanization, increasing demand for high-value cash crops, and rising number of innovative solutions adopted by farmers.
The global agricultural chelates has been segmented on the basis of
- Grains and Cereals
- Fruits and Vegetables
- Turf and Ornamentals
- Commercial Crops
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
- BASF SE
- The Dow Chemical Company
- Yara International
- Haifa Chemicals Ltd
- Nufarm Ltd
- Aries Agro Ltd
- The Andersons Inc.
- ATP nutrition
- BMS-Micronutrients NV
- Wilbur-Ellis company
- Compo Expert GMBH
- Greensmiths, Inc.
- Agmin Chelates Pty. Ltd
- Van Iperen International
- Valagro SpA
- Shandong Iro Chelating Chemical Co., Ltd.
- Protex International SA
- Deretil Agronutritional
The major players of the market are BASF SE, Nouryon, The Dow Chemical Company, Yara International, ICL, Haifa Chemicals Ltd, Syngenta, Nufarm Ltd, Aries Agro Ltd, The Andersons Inc., ATP nutrition, Manvert, BMS-Micronutrients NV, Wilbur-Ellis company, Compo Expert GMBH, Greensmiths, Inc., Agmin Chelates Pty. Ltd, Van Iperen International, Valagro SpA, Shandong Iro Chelating Chemical Co., Ltd., Protex International SA, and Deretil Agronutritional.
Major companies are focusing on engaging in partnerships, acquisitions, and increasing investment on R&D activities to expand their market share.