Agriculture Chelates Market to Reach USD 3.41 Billion by 2028; Rising Adoption for Using Organic & Synthetic Chelates to Improve the Crop Quality is Expected to Boost the Agriculture Chelates Market, states Vantage Market Research

WASHINGTON, Aug. 15, 2022 (GLOBE NEWSWIRE) -- Micronutrient deficiencies are major constraints in crop production for cultivating crops. Micronutrient fertilizers are gaining importance day by day and would play a major role in bringing stability and sustainability in the production of food grains, pulses and oilseeds in the coming years. Rising usage of agricultural chelates in crop production will enhance the crop growth, this factor is expected to drive the agriculture chelate market, states Vantage Market Research, in a report, titled “Agricultural Chelates Market by Type (EDTA, EDDHA, DTPA, IDHA, Others), by Mode of Application (Soil application, Seed dressing, Foliar sprays, Fertigation, Others), by Crop Type (Cereals and grains, Oilseeds and pulses, Fruits & vegetables, Others), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028).” The market size stood at USD 1.81 Billion in 2020. The global agriculture chelates market size is expected to reach USD 3.41 Billion by 2028, exhibiting a CAGR of 8.23% during the forecast period.

Key Industry Findings & Insights from the report:

• The global Agricultural Chelates Market was valued USD 1.81 Billion in 2020 and is all set to surpass USD 3.41 Billion by 2028, exhibiting a CAGR of 8.23 % during the forecast period 2021-2028.        
• In terms of revenue, the application segment held the largest revenue share of in 2021 and is estimated to maintain its dominance for the forecast period.
• In terms of revenue, the product segment held the second largest market share of in 2021 and is estimated to grow rapidly during the forecast period.
• The growth can be attributed to rapid urbanization, technological advancement, an increase in investment by developing countries.
• North America captured the lion share in 2021 and is projected to retain its position over the forecast period. This can be attributed to the existence of a significant number of Agricultural Chelates industry companies and the high adoption rate owing to government measures that stimulate this industry in this region. The growth is primarily due to the increasing collaborations.
  
  

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The report on Agriculture Chelates Market highlights:

• Assessment of the market
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• COVID Impact Analysis
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• Historic Data, Estimates and Forecast
• Company Profiles
• Porter’s Five Forces Analysis
• Global and Regional Dynamics
  
  

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Market Overview:

Rising Demand for Crop Chelates in Agricultural Industry is Expected to Boost the Agriculture Chelates Market

There are three main classes of micronutrient sources which are inorganic, synthetic chelates and organic complexes. Inorganic sources such as sulphates of Cu, Mn, Fe and Zn are the most common metallic salts used in the fertilizer industry because of their ready plant availability and water solubility. In the past years, it has been recognised that compounds containing chelated metals could supply many of the micronutrient requirements of plants. These chelates find use in a wide variety of agricultural crops. Applications for chelates vary from fertilizer additives, seed dressing to foliar sprays and hydroponics. This benefits the crops to grow healthy and gain more output. These are some of the factors driving the agricultural chelates market.

Rising Subsidies given by Government Bodies to Emphasise on Use of Agricultural Chelates is Expected to Drive the Agriculture Chelate Market

Micronutrient deficiency at global level and less fertile soils has emerged as one of the major constraints to crop productivity. While zinc, iron, boron and manganese deficient areas are vast, copper and molybdenum deficiency has also been observed in many countries. International Food Security Mission are conducting strategic initiatives to improve these constraints by creating awareness among farmers and promoting use of soil ameliorants and micronutrients chelates in major rice, wheat and pulse crops growing countries. Government across globe are providing subsidies to use chelates in cultivation of crops and gain high productivity. These are some of the factors driving the agriculture chelate market.

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Regional Analysis:

Increasing Growth of Agriculture Chelates Market in Asia Pacific

The emerging economies of Asia Pacific such as India, China, Indonesia, and Thailand among others are expected to fuel the growth of the agriculture chelates market. Increasing activities related to enhance food quantity, high productivity is concerning the government authorities in Asia Pacific countries. Countries such as China and India are providing subsidies to increase agriculture chelates especially in rural areas; these decisions are taken by government authorities which will indirectly drive the requirement for agriculture chelates market. Middle East and Africa, Europe and North America will also show rapid development on the agriculture chelates market especially due to rapid adoption of agricultural chelates in cultivating crops.

List of Prominent Players in the Agriculture Chelates Market:

Recent Developments in the Industry:

In June, 2015, BASF is strengthening its value chain for chelating agents in Ludwigshafen, Germany, with an investment in the double-digit millions in production plant and further development of the product portfolio. The company identified the trend for sustainable solutions in global markets for chelating agents at an early stage. With the development of the chelating agent Trilon® M (methyl glycine diabetic acid), the company entered the market with a sustainable alternative to phosphate and phosphonate, which contribute to the eutrophication of aquatic habitats.

In November 2015, Dow launches crop nutrition product Nutribuild. The company claims that Nutribuild is one of the first products in India to provide all critical micronutrients. Micronutrients are elements essential for plant nutrition and are required in very small (micro) quantities for healthy plant growth. These are zinc (Zn), iron (Fe), boron (B), copper (Cu), manganese (Mn), molybdenum (Mo) and silicon (Si). However, continuous crop cultivation over the years and degradation due to physical factors, results in depletion of micronutrients, affecting the productivity of soil. This leads to deficiency in crops and lowers crop quality and yield.

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• Market global size and CAGR estimation.
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