PUBLISHER: The Business Research Company | PRODUCT CODE: 1455407
PUBLISHER: The Business Research Company | PRODUCT CODE: 1455407
Chelated micronutrients consist of essential minerals chemically bound to organic molecules, such as amino acids, forming a complex that plants can readily absorb. These are commonly employed in agriculture to enhance plant growth and crop yields by improving nutrient uptake, stability, and effectiveness.
The primary nutrients in chelated micronutrients include zinc, manganese, copper, boron, molybdenum, iron, and others. Zinc, for instance, is an essential micronutrient for plants and, within the context of chelated micronutrients, denotes zinc that has been chemically bonded to an organic molecule to form a chelate. Chelated micronutrients are available in various forms such as dry, liquid, and others. They find application across different crop types including grains and cereals, pulses and oilseeds, commercial crops, fruits and vegetables, turf and ornamentals, and are used via soil application, foliar spray, fertigation, and other methods.
The chelated micronutrients market research report is one of a series of new reports from The Business Research Company that provides chelated micronutrients market statistics, including chelated micronutrients industry global market size, regional shares, competitors with chelated micronutrients market share, detailed chelated micronutrients market segments, market trends, and opportunities, and any further data you may need to thrive in the chelated micronutrients industry. This chelated micronutrients market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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 observed during the historic period can be attributed to several factors, including the increasing need for water treatment, rising demand from chemical manufacturing industries, the necessity to comply with environmental and safety regulations, and the 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 projected growth in the forecast period can be attributed to the growing focus on ESG (Environmental, Social, and Governance) practices, increased investments in renewable energy, expansion of industrial infrastructure, oil and gas exploration and production, and the shift towards Industry 4.0 practices. Major trends anticipated in the forecast period include the integration of AI and machine learning, a heightened focus on sustainability and social responsibility, increased adoption of cloud-based solutions, greater collaboration and integration, rising adoption in the financial services industry, and an increasing emphasis on understanding customer behavior and preferences.
The increasing consumer demand for nutrient-rich foods is set to drive the expansion of the chelated micronutrient market in the foreseeable future. Nutrient-rich foods are those that provide significant amounts of essential vitamins, minerals, and other nutrients while containing relatively low calories. Chelated micronutrients are commonly utilized in these foods to enhance the absorption of micronutrients, thereby increasing their effectiveness in promoting health benefits and addressing deficiencies. For example, according to Statistics Canada's report in February 2023, fruit and vegetable farm-gate sales surged by 13.1% in 2022 to reach $3.0 billion compared to the previous year. Consequently, the growing consumer demand for nutrient-rich foods is serving as a catalyst for the expansion of the chelated micronutrient market.
Key players in the chelated micronutrients market are prioritizing the development of innovative technologies, such as green chelation technology, to meet the demand for micronutrients in plants. Green chelation technology encompasses environmentally friendly practices utilizing chelation for various purposes, particularly in industrial and environmental applications. Hello Nature Bioscience, a prominent US-based company specializing in sustainable solutions for agriculture, introduced Biochelation, a green chelation technology based on vegetal peptides. This 100% natural and sustainable approach optimizes the absorption of micronutrients by plants, thereby enhancing plant metabolism. Additionally, Key + Technology has launched a new product line called KeyLAN, aiming to revolutionize the market for chelated micronutrients.
In January 2023, Nouryon, a leading global specialty chemicals company based in the Netherlands, acquired ADOB for an undisclosed sum. This strategic acquisition is intended to expand Nouryon's product portfolio and enhance its offerings in innovative crop nutrition. By acquiring ADOB, a Poland-based manufacturer of chelated micronutrient products, Nouryon reinforces its commitment to the agriculture and food end-market while strengthening its position in the chelated micronutrients market.
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.
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.
The countries covered in the chelated micronutrient market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The chelated micronutrients market consists of sales of citric acid, glucoheptonic acid, and peptides. 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.
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.
Chelated Micronutrients Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on chelated micronutrients market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for chelated micronutrients ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The chelated micronutrients 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 historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.