Agricultural Chelates Market is Expected to USD 3.41 Billion by 2028 at a CAGR of 8.23%

Vantage Market Research

Dec 10, 2021

The Agricultural Chelates Market is expected to reach USD 3.41 Billion by 2028, growing at a CAGR of 8.23% from 2021 to 2028. Deficiency of micronutrients within the soil because of high-yielding crop production and high usage of chemical fertilizer are the factors expected to drive the growth of the agricultural chelates market in the years to come.

Key Findings:

  • Agriculture chelates have the largest market value within the Asia-Pacific area, which is dominated by China, India, and Australia. Farmers are driven to grow crops with larger yields as a result of the region's rapidly growing population and increasing demand for food, which has increased demand for Chelates.
  • During the forecast period, fruits and vegetables are expected to be the most important segment. This is because of higher profit margins, rising urbanization, and increased knowledge of the health advantages of fruits and vegetables, which are high-value crops.
  • Ethylenediaminetetraacetic acid or EDTA binds with micronutrients like iron, calcium, zinc, manganese, and copper well which is the reason why the EDTA sector is anticipated to be the biggest during the projection period.
  • The foliar spray method is expected to increase significantly due to its dependability.

Despite the emergence of the Covid-19 pandemic, many countries in the Asia-Pacific have maintained good agricultural output.  In India, for the first time in 17 years, agriculture's contribution to GDP has surpassed nearly 20% which makes India a big market for agricultural chelates.

Foliar spray is an agricultural method of spraying water and agricultural chelates on crops using spray pumps, drones, or even airplanes. It is preferred by farmers because it enables uniform application and is more cost-efficient than other products.

BASF SE, Nouryon, The Dow Chemical Company, Shandong Iro Chelating Chemicals, Yara International, and ICL are all major players in this sector. The key players maintain their reputation by providing high-quality chelates which can be used in multiple areas in agriculture. Haifa Chemicals Ltd., Syngenta, Nufarm Ltd., Aries Agro Ltd the Andersons Inc., ATP Nutrition, Manvers, Wilbur-Ellis company, Greensmiths, Inc., Again Chelates Pty. Ltd, are some of the other important companies in the agricultural chelates market.