Global Chelate Fertilizer Market Set For 10.3% Growth, Reaching $5.00 Billion By 2028

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What Does the Chelate Fertilizer Market Size Indicate?

The chelate fertilizer market size has seen rapid growth in recent years, illustrating the escalating global need for agricultural enhancements. The growth rate suggests an upswing from $3.07 billion in 2023 to $3.38 billion in 2024, at a compound annual growth rate CAGR of 10.2%. The inceptive period's growth can largely be accredited to increasing agricultural productivity and growing demand for high-quality crops. This trend also reveals a rising awareness about soil health, widening expansion of agricultural land, and the increasing use of high-value crops.

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What is the Forecasted Growth for the Chelate Fertilizer Market?

The chelate fertilizer market is expected to continue its rapid growth. The market size will expand to a significant $5.00 billion in 2028, increasing at a compound annual growth rate CAGR of 10.3%. Growth in the forecasted period can be linked to the continually burgeoning global populace, an escalating demand for food security, and growing understanding of sustainable farming practices. Additionally, increasing investments in agricultural research and development also play a key role in the uptrend. Factors contributing to the forecasted trends include the expansion of online distribution channels, advanced precision nutrient management, the utilization of data analytics in fertilizer application, and the development of slow-release fertilizer formulations and customized fertilizer solutions.

What are the Key Drivers Behind Chelate Fertilizer Market Growth?

Key factors propelling the rise of the chelate fertilizer market include the ever-growing global population and their escalating food demands. The global populace's growth inflates food demand, a necessity for survival, prompting an urgent requirement for increased agricultural productivity. Chelate fertilizers enhance crop yield and quality, crucial for catering to the ballooning food demand due to the growing global populace.

For instance, in August 2024, it was reported by the Department for Environmental Food and Rural Affairs, a UK-based governmental department, that the agri-food chain contributed an impressive $188.64 billion £147.8 billion, or 6.5%, to the national gross value added in 2022. In comparison, the food chain’s gross value added excluding agriculture and fishing was $169.62 billion £132.9 billion. This marked a commendable 15.4% increase from the previous year. Furthermore, in January 2024, the United States Census Bureau, a U.S.-based governmental body, forecasted the world population to reach an astounding 8.019 billion, marking an increase of 0.075 billion 0.95% from the previous year.

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Who are the Key Players in the Chelate Fertilizer Market?

Major corporations operating in the chelate fertilizer market like BASF SE, Nutrien Ltd., Syngenta AG, Yara International, The Mosaic Company, Andersons Plant Nutrient Group, and Akzo Nobel NV play a pivotal role in the expansion of the market landscape. Other key industry players include ICL Specialty Fertilizers, Nouryon, and Nufarm Limited, Nippon Soda Co. Ltd., Haifa Chemicals Ltd, Compo Expert, Valagro SpA, Rizobacter SA are also significant contributors to the industry’s growth. Aries Agro Limited, LidoChem Inc., ATP Nutrition Ltd., Van Iperen International, Protex International, BMS Micro-Nutrients, Manvert, Humintech GmbH, and Aqua Yields continue to hold large stakes in the market as well.

What are the Recent Trends in the Chelate Fertilizer Market?

Major corporations operating in the chelate fertilizer market are pivoting towards developing innovative biodegradable chelating agents. These advancements aim to efficiently deliver micronutrients while actively reducing environmental impact. In August 2022, for instance, Innospec, a U.S.-based chemical company, launched ENVIOMET C, a new biodegradable chelating agent. This innovative product champions chelating transition metals even in presence of calcium and magnesium, making it apt for applications such as stain removal, peracetic acid stabilization, and protection of dyes and fabrics.

How is the Chelate Fertilizer Market Segmented?

The chelate fertilizer market is segmented by type into:
1 Amino Acid Chelates
2 Ethylene Diamine Tetra-Acetic Acid EDTA Chelates
3 Imino Disuccinate IDHA Chelates
4 Diethylenetriamine Pentaacetic Acid DTPA Chelates
5 Ethylenediaminedi O-Hydroxyphenylacetic Acid EDDHA Chelates

By micronutrient, it is segmented into:
1 Iron
2 Zinc
3 Manganese
4 Copper

By application, it is segmented as:
1 Foliar Spray
2 Soil Application
3 Fertigation
4 Seed Treatment

What are the Regional Insights of the Chelate Fertilizer Market?

In 2023, Asia-Pacific held the largest share of the chelate fertilizer market. North America is forecasted to be the fastest-growing region. The regions analyzed in the chelate fertilizer market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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