What Has Been the Progress and Growth of the Agricultural Chelates Market in Recent Years?
The agricultural chelates market has seen considerable growth due to a variety of factors.
•In recent years, the market size for agricultural chelates has experienced substantial growth. It's projected to increase from $1.22 billion in 2024 to $1.32 billion in 2025, signifying a compound annual growth rate (CAGR) of 7.6%.
This growth during the historical period is due to concerns about soil quality, a surge in the global population, an uptick in commercial agriculture, the enlargement of precision farming, and a heightened awareness about crop nutrition.
What Can Be Expected from the Agricultural Chelates Market in the Coming Years?
The agricultural chelates market is expected to maintain its strong growth trajectory in upcoming years.
• Substantial expansion is anticipated in the agricultural chelates market, as it is projected to increase to "$1.78 billion in 2029 with a compound annual increase rate (CAGR) of 7.8%.
The rise in the coming years is attributed to advancements in organic farming, climate change difficulties, focus on sustainable farming, government backing for precision farming, and increased agtech investment. Key trends anticipated during this forecast period include the evolution of chelate formulations, significant technological developments in farming, growing implementation of precision farming, heightened utilization of micronutrients in crop growth, and progressive advances in chelate production.
What Are The Leading Drivers Of Growth In The Agricultural Chelates Market?
The growth of the agriculture chelates market is expected to be triggered by the surge in farm production expenditure. The latter includes the cumulative spending by farms on diverse inputs and costs associated with agricultural production. Agriculture chelates are specific chemical compounds exploited in the farming sector to enhance the assimilation and availability of crucial minerals for plants. For example, data from the United States Department of Agriculture, a government office in the US, cites that in 2022, crop farms in the U.S. expended $195.5 billion. Therefore, the upswing in farm production expenses is the driving force behind the booming agriculture chelates market.
How Are The Segments Defined Within The Global Agricultural Chelates Market?
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
Subsegments:
1) By EDTA (Ethylenediaminetetraacetic Acid): EDTA Calcium, EDTA Magnesium, EDTA Iron, EDTA Zinc
2) By EDDHA (Ethylenediamine-N,N'-bis (2-Hydroxyphenylacetic Acid)): EDDHA Iron, EDDHA Calcium
3) By DTPA (Diethylenetriamine Pentaacetate): DTPA Iron, DTPA Calcium
4) By IDHA (Imidodisuccinic Acid): IDHA Iron, IDHA Calcium
5) By Other Types: Organic Chelates, Synthetic Chelates
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How Are New Trends Expected To Influence The Growth Of The Agricultural Chelates Market?
The key trend catching attention in the agricultural chelates market is product innovation. To gain a strong foothold in the market, leading firms are focusing on developing new products. Innospec Inc., a renowned US-based polyethylene wax manufacturer, for example, launched an environmentally friendly chelating agent for agricultural uses, called ENVIOMET C, in August 2022. This easily biodegradable product aims to meet the needs of clients who are looking for high-performing chelating agents that have a minimal negative impact on the environment.
Who Are the Key Players in the Agricultural Chelates Market?
Major companies operating in the agricultural chelates market include:
• 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.
What Is The Most Dominant Region In The Agricultural Chelates Market?
Asia-Pacific was the largest region in the agricultural chelates market in 2024.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
