Global Agricultural Chelates Market 2024

Global Agricultural Chelates Market 2024

The analysis predicts the global agricultural chelates market will grow from USD 1,026.4 million in 2023 to USD 1,659.0 million by 2030, achieving a compound annual growth rate (CAGR) of 7.1 percent. Agricultural chelates represent a category of fertilizers wherein micronutrient ions are enveloped by larger molecules known as ligands or chelators. This study focuses on chelates utilized in agricultural fertilizers, predominantly employed in the production of chelated fertilizers within the agricultural sector. Synthetic chelated micronutrient fertilizers dominate the market segment, preferred over organic alternatives due to their superior composition uniformity, stability, and ease of application. Their customizable nature allows tailored nutrient formulations, enhancing control over nutrient uptake by plants.

Foliar application is favored for chelated micronutrient fertilizers as it enables direct nutrient absorption through leaves, bypassing potential soil limitations. Chelation significantly improves nutrient stability and availability, facilitating enhanced plant accessibility. This method yields rapid plant responses, optimizing nutrient utilization for immediate benefits. Grains and cereals, owing to their widespread cultivation and high demand globally, constitute the primary consumers of chelated micronutrient fertilizers. These staple crops contribute substantially to global calorie intake and are essential components of many diets.

Chelated micronutrient fertilizers play a critical role in addressing soil nutrient deficiencies, ensuring optimal growth and yield for key food crops. The imperative to increase global food production necessitates maximizing arable land productivity, with micronutrient fertilizers like chelates emerging as vital tools for achieving stability and sustainability in food grain, pulse, and oilseed production. Factors driving the adoption of chelates in agriculture include the prevalence of micronutrient deficiencies in soils worldwide and chelates' ability to mitigate micronutrient toxicity. Countries like India, experiencing nutrient deficiencies impacting crop production, underscore the importance of addressing soil nutrient balance for enhanced productivity. These efforts represent growth opportunities for the chelates market, particularly in regions grappling with soil nutrient challenges.

This comprehensive industry report provides market estimates and forecasts, accompanied by a detailed examination of the product, application, crop type, and region aspects. It delivers a quantitative analysis of the market, empowering stakeholders to leverage existing market opportunities. Furthermore, the report identifies key segments for potential opportunities and strategies, drawing insights from market trends and the approaches of leading competitors.

The global agricultural chelates market has been extensively analyzed by categorizing it according to various sub-segments in order to provide accurate forecasts of industry size and assess trends within specific areas.

The global market for agricultural chelates can be segmented by product: organic chelates, synthetic chelates. The synthetic chelates segment held the largest revenue share in 2023, accounting for more than 78.9% of the total market.

Agricultural chelates market is further segmented by application: fertigation, foliar, soil, others. Among these, the foliar segment was accounted for the highest revenue generator in 2023, accounting for more than 41.6% of the total market.

Based on crop type, the agricultural chelates market is segmented into: commercial crops, fruits and vegetables, grains and cereals, pulses and oilseeds, turfs and ornamentals, others. The grains and cereals segment captured the largest share of the market in 2023, accounting for more than 34.6% of the total market.

On the basis of region, the agricultural chelates market also can be divided into: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America.

The report has also analyzed the competitive landscape of the global agricultural chelates market with some of the key players being Akzo Nobel N.V., AVA Chemicals Private Limited, BASF SE, Deretil Agronutritional SL, Haifa Group, Hebei Think-Do Environment Co., Ltd., Innospec Inc., Mitsubishi Chemical Corporation, Nouryon Holding B.V., Nufarm Limited, Protex International SA, Shandong IRO Chelating Chemical Co., Ltd., Shandong Yuanlian Chemical Co., Ltd., Shijiazhuang Jackchem Co., Ltd., Yara International ASA, among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

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Market Segments Covered in Global Agricultural Chelates Industry Analysis:

i.) Product

• Organic chelates
• Lingosulphonate
• Amino acids
• Heptagluconates
• Other organic types
• Synthetic chelates
• EDTA
• EDDHA
• DTPA
• IDHA
• Others

ii.) Application

• Fertigation
• Foliar
• Soil
• Others

iii.) Crop type

• Commercial crops
• Fruits and vegetables
• Grains and cereals
• Pulses and oilseeds
• Turfs and ornamentals
• Others

iv.) Region

• North America
• Europe
• Asia-Pacific
• MEA (Middle East and Africa)
• Latin America