PUBLISHER: The Business Research Company | PRODUCT CODE: 1489312
PUBLISHER: The Business Research Company | PRODUCT CODE: 1489312
Agricultural chelates are specialized chemical compounds used extensively in agriculture to enhance the availability of essential nutrients to plants, particularly micronutrients like iron, zinc, manganese and copper. These chelates form stable complexes with metal ions, preventing them from precipitating in the soil and allowing for easier uptake by plant roots. This increased bioavailability of nutrients is critical in promoting healthy plant growth and maximizing crop yields, especially in soils with high pH levels where micronutrient availability is typically reduced.
The agricultural chelates market consists of sales, by entities (organizations, sole traders and partnerships), of agricultural chelates products that are used across various agricultural settings, from small-scale farms to large agricultural operations. They are particularly useful in intensive farming systems where crop nutrition needs to be precisely managed to ensure optimal growth conditions. Agricultural chelates are used not only to correct nutrient deficiencies but also as a preventive measure in crop management strategies. They find applications in a range of environments including open fields, protected agriculture settings like greenhouses and in hydroponic systems where soil-less farming requires precise nutrient management.
The global agricultural chelates market was valued at $900.3 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 4.0%.
Increasing Awareness Of Crop Nutrition
Increasing awareness of crop nutrition boosted the growth of the agricultural chelates market during the historic period. Due to chelates' effectiveness in improving nutrient uptake, demand for them increased as stakeholders realized how crucial precise nutrient management was for achieving the best agricultural output and quality. Growing market awareness fueled farmers' search for practical ways to maximize crop nutrition. For instance, in November 2022, Krishi Vigyan Kendra (KVK), an India-based government office and program coordinator, in collaboration with the Southern region and the Fertilizer Association of India (FAI), an India-based non-profit and non-trading company representing mainly the fertilizer manufacturers, organized an awareness and training program on innovations in plant nutrient management for sustainable agriculture at KVK. The Regional Head of FAI emphasized the significance of integrated nutrient management practices and innovations in plant nutrient management in India. They highlighted government interventions aimed at enhancing soil health and promoting sustainable agriculture. Additionally, the program discussed the importance of organic and inorganic fertilizers for soil health improvement, crop residue management and optimal fertilizer application methods to boost crop yields. Therefore, the increasing awareness of crop nutrition drove the growth of the agricultural chelates market.
Introduction Of Innovative Products To Meet Evolving Consumer Demands
Companies in the agricultural chelates market are strategically prioritizing the introduction of innovative products to enhance their market position and meet evolving consumer demands. These new product launches are often aimed at addressing specific challenges faced by farmers, such as improving nutrient uptake efficiency, enhancing crop quality and yield and ensuring environmental sustainability. For instance, in August 2023, Baramati Agro Limited, an India-based animal feed, poultry feed and ethanol manufacturing company, launched the new Actosol Black line, an actosol-formulated new series of black range products. The Actosol Black range introduced a novel organic carbon chelate, acknowledged as a heterocyclic compound. This formulation enhanced plant nutrient availability by forming complexes between metal ions and chelating agents. These agents improved nutrient solubility, minimized nutrient loss, mitigated metal toxicity and enhanced nutrient mobility, thereby optimizing plant growth and productivity. Furthermore, in August 2022, Innospec Inc., a US-based specialty chemical company, developed ENVIOMET C to address the demand for superior chelating performance along with easily biodegradable characteristics and a minimal environmental footprint. ENVIOMET C, a commercially available product, is an (S,S') ethylenediamine-N,N'-disuccinate (EDDS) offered in both liquid and powder formulations.
The global agricultural chelates market is highly concentrated, with large players operating in the market. The top ten competitors in the market made up to 62.90% of the total market in 2022
Agricultural Chelates Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global agricultural chelates market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for agricultural chelates? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The agricultural chelates market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider agricultural chelates market; and compares it with other markets.