What are the Historical Developments and Current Growth Metrics of the Chelated Micronutrients Market?
The chelated micronutrients market has seen considerable growth due to a variety of factors.
• In the previous years, the chelated micronutrients market has experienced robust growth. The market is projected to expand from $1.24 billion in 2024 to $1.35 billion in 2025, with a compound annual growth rate (CAGR) of 9.4%.
This growth during the historic period is primarily due to the escalating requirement for water treatment, an increase in demand from chemical manufacturing industries, the necessity for adherence to environmental and safety norms, along with a worldwide emphasis on energy efficiency.
What is the Forecasted Market Size and CAGR for the Chelated Micronutrients Market?
The chelated micronutrients market is expected to maintain its strong growth trajectory in upcoming years.
• In the next few years, the chelated micronutrients market is predicted to experience substantial growth, increasing to $1.82 billion in 2029 with a compound annual growth rate (CAGR) of 7.7%.
This growth within the foresight period is largely due to the intensified focus on ESG (environmental, social, and governance) principles, investments in renewable energy, the enhancement of industrial infrastructure, and the progression of oil and gas exploration and production, alongside the transition towards industry 4.0 practices. Noteworthy trends expected during this period encompass the incorporation of artificial intelligence and machine learning, an emphasis on sustainability and social responsibility, growing usage of cloud-based solutions, augmented collaboration and integration, escalating financial services application, and a focal shift to understanding customer behavior and preferences.
What Key Factors and Trends Are Driving The Growth Chelated Micronutrients Market?
The surge in consumer preference for foods brimming with nutrients is forecasted to fuel the expansion of the chelated micronutrient market in the future. Foods abundant in vitamins, minerals, and other nutrients, while having low calorie content, are considered as nutrient-rich foods. The medicinal properties of chelated micronutrients are often deployed into these foods to enhance the bioavailability of micronutrients, thus magnifying their role in boosting health and combating deficiencies. For example, data from Statistics Canada, an agency under the Canada government, reveals a significant rise of 13.1% in farm-gate sales of fruits and vegetables in 2022, totalling $3.0 billion, an increase from the previous year. Consequently, this escalating consumer inclination towards foods loaded with nutrients is stimulating the acceleration of the chelated micronutrient market.
What Are The Market Segments In The Chelated Micronutrients Market?
The chelated micronutrients market covered in this report is segmented –
1) By Nutrient: Zinc, Manganese, Copper, Boron, Molybdenum, Iron, Other Nutrients
2) By Form: Dry, Liquid, Other Forms
3) By Crop Type: Grains And Cereals, Pulses And Oilseeds, Commercial Crops, Fruits And Vegetables, Turf And Ornamentals
4) By Application: Soil, Foliar, Fertigation, Other Applications
Subsegments:
1) By Zinc: Zinc EDTA, Zinc EDDHA
2) By Manganese: Manganese EDTA, Manganese EDDHA
3) By Copper: Copper EDTA, Copper EDDHA
4) By Boron: Boron EDTA, Boron EDDHA
5) By Molybdenum: Molybdenum EDTA, Molybdenum EDDHA
6) By Iron: Iron EDTA, Iron EDDHA
7) By Other Nutrients: Cobalt, Nickel, Other Chelated Micronutrients
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What Trends Are Reshaping The Future Of The Chelated Micronutrients Market?
Leading corporations in the chelated micronutrients market are putting efforts into crafting novel solutions, including improved nutrient uptake and enhanced crop yields, to satisfy the requirements of contemporary agriculture. The term improved nutrient uptake refers to mixtures that enable plants to utilize crucial micronutrients more effectively, leading to healthier growth and boosted productivity. For instance, Coromandel International, a firm specialized in agricultural inputs based in India, unveiled Paramfos Plus, a fertilizer enriched with magnesium intended to facilitate optimal provision of nutrients to crops in June 2024. This product boasts chelated micronutrients that amplify nutrient update in plants by enhancing the bioavailability of important elements such as iron and zinc. The process of chelation safeguards these nutrients from precipitation in soils with high pH levels, confirming their solubility and availability for absorption by plants. This leads to more robust plants, superior nutrient efficiency, and augmented crop yields.
Who Are the Key Players In The Chelated Micronutrients Market?
Major companies operating in the chelated micronutrients market report are:
• BASF SE
• Dow Inc.
• Bayer AG
• CHS Inc.
• Mitsubishi Chemical Corporation
• Syngenta International AG
• Yara International ASA
• Sumitomo Chemical Co. Ltd.
• Monsanto Company
• E. I. DUPONT DE NEMOURS AND COMPANY
• Akzo Nobel N.V.
• Nouryon Specialty Chemicals B.V.
• ADAMA Agricultural Solutions Ltd.
• Nufarm Limited
• Innospec Inc.
• Auriga Industries A/S
• Brandt Consolidated Inc.
• Stoller Inc.
• COMPO EXPERT GmbH
• Haifa Negev Technologies Ltd.
• Verdesian Life Sciences LLC
• Aries Agro Limited
• Deretil Agronutritional SLU
• Grow More Inc.
• Protex International SA
• Baicor LLC
• ATP Nutrition Ltd.
• Ava Chemicals Private Limited
• Chittari Agricare Pvt. Ltd.
• Napnutriscience
• Shandong Iro Chelating Chemical Co. Ltd.
What Are The Regional Insights Into The Chelated Micronutrients Market?
Asia-Pacific was the largest region in the chelated micronutrients market in 2024. The regions covered in the chelated micronutrients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
