Global Forecast Report 2023: Agricultural Chelates Market

Major players in the agricultural chelates market are Yara International ASA, Haifa Negev technologies LTD, Nouryon, BASF SE, The Andersons Inc., The Dow Chemical Company, Nufarm Ltd, ICL, Syngenta, Aries Agro Ltd., Akzo Nobel, Valagro S.p.A., Deretil Agronutritional, ATP nutrition, Manvert and BMS-Micronutrients NV.

The global agriculture chelates market is expected to grow from $1.19 billion in 2022 to $1.29 billion in 2023 at a compound annual growth rate (CAGR) of 8.17%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The agriculture chelates market is expected to reach $1.80 billion in 2027 at a CAGR of 8.64%.

The agricultural chelates market consists of sales of chelated fertilizers containing micronutrients.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

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.

Asia-Pacific was the largest region in the agricultural chelates market in 2022.Europe is expected to be the fastest-growing region in the forecast period.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of agricultural chelates are EDTA (ethylenediaminetetraacetic acid), EDDHA (ethylenediamine-?-bis(2-hydroxyphenyl acetic acid), DTPA ( diethylenetriamine pentaacetate), IDHA (imidodisuccinic acid), and other types.EDTA refers to fertilizers containing ethylenediaminetetraacetic acid, a chelating agent that assists in enhancing the efficiency of nutrient absorption in plants.

The various crop types include cereals and grains, oilseeds and pulses, fruits and vegetables, and other crop types. These are used in various applications such as soil, foliar, hydroponics, and others applications.

The increasing adoption of greenhouse farming is expected to boost the growth of the agricultural chelates market going forward.Greenhouse farming involves cultivating crops in protected structures that are either fully or partially covered by transparent materials, its primary aim is to create optimal growing conditions for crops while shielding them from adverse weather conditions and pests.

In greenhouse farming, agricultural chelates are utilized to improve the efficiency of nutrient uptake and utilization by crops, Similarly, in agriculture, high-performance chelated micronutrients such as iron chelates are employed to increase crop yields. For instance, in June 2022, according to Statistics Canada, the National Statistical Office of Canada, British Columbia’s farms registered the second highest greenhouse area in Canada in 2021, measuring 66.0 million square feet, a 14.0% increase from 2016. This province represented 20.0% of Canada’s total reported greenhouse area. Therefore, the increasing adoption of greenhouse farming is expected to drive the growth of the agricultural chelates market.

Product innovations have emerged as the key trend gaining popularity in the agricultural chelates market.Major companies operating in the agricultural chelates market are developing innovative products to strengthen their position in the market.

For instance, in August 2022, Innospec Inc., a US-based leading polyethylene wax producer, launched ENVIOMET® C, an environmentally friendly chelating agent for agricultural applications. This product is readily biodegradable and aims to cater to the demands of customers who seek chelating agents that deliver exceptional performance while having minimal impact on the environment.

In October 2020, Syngenta, a Switzerland-based agrichemical company acquired Valagro for an undisclosed amount.Through this acquisition, Syngenta aims to provide farmers with more complementary product and technology choices to make agriculture more resilient and sustainable.

Valagro is an Italy-based company that manufactures agriculture chelates.

The countries covered in the agricultural chelates market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The agriculture chelates market research report is one of a series of new reports that provides agriculture chelates market statistics, including agriculture chelates industry global market size, regional shares, competitors with agriculture chelates market share, detailed agriculture chelates market segments, market trends, and opportunities, and any further data you may need to thrive in the agriculture chelates industry. This agriculture chelates market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.