Global Agricultural Chelates Market Size 2024, Forecast To 2033
6 Mar, 2024
The agricultural chelates market size has grown strongly in recent years. It will grow from $1.29 billion in 2023 to $1.4 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to soil quality concerns, rise in global population, increase in commercial agriculture, expansion of precision farming, growing awareness of crop nutrition. The agricultural chelates market size is expected to see strong growth in the next few years. It will grow to $1.97 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to expansion of organic farming, climate change challenges, focus on sustainable agriculture, government support for precision agriculture, increasing investments in agtech. Major trends in the forecast period include technological innovations in chelate formulations, technological advancements in agriculture, rising adoption of precision agriculture, increased use of micronutrients in crop production, technological advancements in chelate production.
Global Agricultural Chelates Market Key Driver
The escalation in farm production expenditure is poised to drive the expansion of the agriculture chelates market in the foreseeable future. Farm production expenditure encompasses the total spending by farms on various inputs and expenses related to agricultural production. Agricultural chelates, chemical compounds utilized in agriculture, serve to enhance the availability and uptake of vital minerals by plants. According to the United States Department of Agriculture's data from 2022, U.S. farms allocated $195.5 billion for crop-related expenses. Consequently, the surge in farm production expenditure is a key catalyst propelling the agriculture chelates market, which is anticipated to witness significant growth by 2028.
Get A Free Sample Of The Global Agricultural Chelates Market ReportGlobal Agricultural Chelates Market Segments
The agricultural chelates market covered in this report is segmented –
1) By Type: EDTA (Ethylenediaminetetraacetic Acid), EDDHA (Ethylenediamine-N,N'-bis(2-Hydroxyphenylacetic Acid), DTPA (Diethylenetriamine Pentaacetate), IDHA (Imidodisuccinic Acid), Other Types
2) By Crop Type: Cereals And Grains, Oilseeds And Pulses, Fruits And Vegetable, Other Crop Types
3) By Application: Soil, Foliar, Hydroponics, Other Applications
By Geography:The regions covered in the agricultural chelates market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
Asia-Pacific was the largest region in the agricultural chelates market in 2023. Europe is expected to be the fastest-growing region in the global agriculture chelates market report during the forecast period. The regions covered in the agricultural chelates market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Agricultural Chelates Industry Players
Yara International ASA, Haifa Group, Nouryon Holding B.V., BASF SE, The Andersons Inc., Dow Inc., Nufarm Limited, ICL Group Ltd., Syngenta Group Co. Ltd., Aries Agro Limited, Akzo Nobel N.V., Valagro S.p.A., Deretil Agronutritional S.L., ATP Nutrition Ltd., Manvert S.L., BMS-Micronutrients NV, Mitsubishi Chemical Corporation, Innospec Inc., Shandong Iro Chelating Chemical Co. Ltd, Ava Chemicals Private Limited, Protex International, Agmin Chelates, COMPO EXPERT GmbH, LidoChem Inc., Andersons Plant Nutrient Group, CHS Inc., Wilbur-Ellis Holdings Inc., Van Iperen International B.V., ADOB Haifa Ltd., Aquapharm Chemical Pvt. Ltd.
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Agricultural Chelates Market Overview
Agricultural chelates are fertilizers that contain micronutrients such as iron, zinc, manganese, and copper, which are vital for plant growth and productivity. The application of chelated micronutrients has been shown to be an effective way to increase crop yields and their quality.
Agricultural Chelates Global Market Report 2023 provides data on the global agricultural chelates market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The agricultural chelates market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.