Growing Awareness in Farming Community is Propelling the Metal Chelates Market
The Metal Chelates Market is set to reach and thrive from USD 605.35 Million in 2021 to USD 605.35 Million in 2028 growing at a Compound Annual Growth Rate (CAGR) of 9.2%. Metal Chelate is a compound where the metal ion is mixed with the anion in more than one adhesive area. They also maintain a balance of salt and nutrients in the soil. Chelation is a natural process that takes place to prevent the absorbed nutrients from being eaten. Organisms that are present in the soil and produced by microorganisms are natural chelating. However, the presence of natural chelating is not enough to speed up crop yields.
The micronutrients component is a key factor in driving the market for metal chelates during forecasting. The ever-growing population and growing awareness among farmers coupled with the growing demand for food products worldwide is also a factor in the global market for metal chelates. The major obstacles to the metal chelate market include the impact of stainless steel chelate. The market has a number of large and small firms. Growth and contracts were key strategies taken by market players to ensure their growth. The global market for metal chelates is facing tough competitive conditions as many companies continue to target the basics of specific customers. Recovery from this epidemic has not spread differently across the region and as a result, many companies are choosing strategies that focus on local market conditions since the epidemic began. For example, the majority of European consumers continue to insist on the search for brands with a strong purpose and values while there is a significant shift away from imported goods in some Asian Pacific markets.
Metal Chelate is widely used in the agricultural industry as a fertilizer. They are also used as soil additives for healthy plant growth. Some of the most popular cheaters are EDDHA, EDTA, and DTPA. The agricultural industry, farmers, and crop producers are the end users of agricultural chelates. The Chelation System is also used in the healthcare industry, in MRI scans, and in procedures where they have to remove a certain type of iron from the body.
Based on the type of crop, the market is divided into cereals & grains, oilseeds & pulses, fruits & vegetables. The fruit & vegetable segment is estimated to testify to the highest CAGR during the forecast period. Potential causes for growing farmers’ awareness of the nutritional value of these crops and the growing demand for fruit and vegetables. Since fruits and vegetables are sensitive plants, they can be completely damaged due to nutrient deficiencies in the soil. This exacerbates the need for this category. Based on the application, the market is divided into soil, foliar, and fertigation. The foliar component is estimated to testify to the highest CAGR at the time of prediction. Foliar is a simple, economical, and time-efficient mode. Based on the type of product, the market is divided into essential nutrients, secondary nutrients, and micronutrients. The Global Metal Chelates Market is segmented on the basis of region into North America, Europe, Asia Pacific, Latin America, Middle East & Africa. Asia Pacific is proven to grow at a significantly high CAGR at the time of forecasting. Growth is most evident in China, India, Australia, and New Zealand, thanks to strong government programs and ongoing projects.
Key stakeholders operating in this market include - Akzo Nobel N.V. (The Netherlands), BASF SE (Germany), Syngenta AG (Switzerland), Haifa Chemicals Limited (Israel), and Nufarm Limited (Australia).
Browse the full Report - Metal Chelates Market by Type (Primary nutrients, Secondary nutrients, Micronutrients), by Mode of application (Soil, Foliar, Fertigation), by Crop type (Cereals & grains, Oilseeds & pulses, Fruits & vegetables), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)