Overview and Scope
Chelated micronutrients are essential minerals that are chemically bound to organic molecules, such as amino acids, to create a complex that plants can easily absorb. These are commonly used in agriculture to improve plant growth and crop yields, as they enhance nutrient uptake, stability, and effectiveness.
Sizing and Forecast
The chelated micronutrients market size has grown strongly in recent years. It will grow from $1.13 billion in 2023 to $1.24 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to increasing need for water treatment, rising demand from chemical manufacturing industries, need to comply with environmental and safety regulations, global focus on energy efficiency.
The chelated micronutrients market size is expected to see strong growth in the next few years. It will grow to $1.69 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to growing focus on esg (environmental, social, and governance) practices, rising investments in renewable energy, expansion of industrial infrastructure, oil and gas exploration and production, shift towards industry 4.0 practices.. Major trends in the forecast period include integration of ai and machine learning, focus on sustainability and social responsibility, increasing adoption of cloud-based solutions, increased collaboration and integration, rising adoption in the financial services industry, increasing focus on customer behavior and preferences.
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Segmentation & Regional Insights
The chelated micronutrients market covered in this report is segmented –
1) By Nutrient: Zinc, Manganese, Copper, Boron, Molybdenum, Iron, Other Nutrients
2) By Form: Dry, Liquid, Other Forms
3) By Crop Type: Grains And Cereals, Pulses And Oilseeds, Commercial Crops, Fruits And Vegetables, Turf And Ornamentals
4) By Application: Soil, Foliar, Fertigation, Other Applications
Asia-Pacific was the largest region in the chelated micronutrients market in 2023. The regions covered in the chelated micronutrients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing consumer demand for nutrient-rich foods is expected to propel the growth of the chelated micronutrient market going forward. Nutrient-rich foods refer to foods that provide substantial amounts of vitamins, minerals, and other nutrients with relatively few calories. Chelated micronutrients are commonly used in nutrient-rich foods to increase the absorption of micronutrients, making them more effective in promoting health benefits and addressing deficiencies. For instance, in February 2023, according to Statistics Canada, a Canada-based government agency, fruit and vegetable farm-gate sales rose 13.1% in 2022 to $3.0 billion compared with 2021. Therefore, growing consumer demand for nutrient-rich foods is driving the growth of the chelated micronutrient market.
Key Industry Players
Major companies operating in the chelated micronutrients market report are BASF SE, Dow Inc., Bayer AG, CHS Inc., Mitsubishi Chemical Corporation, Syngenta International AG, Yara International ASA, Sumitomo Chemical Co. Ltd., Monsanto Company, E. I. DUPONT DE NEMOURS AND COMPANY, Akzo Nobel N.V., Nouryon Specialty Chemicals B.V., ADAMA Agricultural Solutions Ltd., Nufarm Limited, Innospec Inc., Auriga Industries A/S, Brandt Consolidated Inc., Stoller Inc., COMPO EXPERT GmbH, Haifa Negev Technologies Ltd., Verdesian Life Sciences LLC, Aries Agro Limited, Deretil Agronutritional SLU, Grow More Inc., Protex International SA, Baicor LLC, ATP Nutrition Ltd., Ava Chemicals Private Limited, Chittari Agricare Pvt. Ltd., Napnutriscience, Shandong Iro Chelating Chemical Co. Ltd.
The chelated micronutrients market report table of contents includes:
1. Executive Summary
2. Chelated Micronutrients Market Characteristics
3. Chelated Micronutrients Market Trends And Strategies
4. Chelated Micronutrients Market – Macro Economic Scenario
5. Global Chelated Micronutrients Market Size and Growth
…
32. Global Chelated Micronutrients Market Competitive Benchmarking
33. Global Chelated Micronutrients Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Chelated Micronutrients Market
35. Chelated Micronutrients Market Future Outlook and Potential Analysis
36. Appendix
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