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Chelate Fertilizer Market Outlook Report 2024-2033 | Size, Trends, Analysis, Insights, Overview
Chelate Fertilizer Market Outlook
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According to The Business Research Company's, The chelate fertilizer market size has grown rapidly in recent years. It will grow from $3.07 billion in 2023 to $3.38 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth in the historic period can be attributed to increasing agricultural productivity, rising awareness about soil health, growing demand for high-quality crops, expansion of agricultural land, and increasing use of high-value crops.
The chelate fertilizer market size is expected to see rapid growth in the next few years. It will grow to $5.00 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The growth in the forecast period can be attributed to the growing global population, increasing demand for food security, rising awareness of sustainable farming practices, and increasing investment in agricultural research and development. Major trends in the forecast period include the development of slow-release fertilizer formulations, expansion of online distribution channels, advancement in precision nutrient management, use of data analytics in fertilizer application, and development of customized fertilizer solutions.
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Market Drivers and Trends:
The rising global population and food demand are expected to propel the growth of the chelate fertilizer market going forward. The rising global population drives increased food demand as more people require sustenance for survival. Chelate fertilizers enhance crop yield and quality, helping to meet the increasing food demand driven by a growing global population. For instance, in August 2024, according to the Department for Environmental Food and Rural Affairs, a UK-based governmental department, the agri-food chain contributed $188.64 billion (£147.8 billion), or 6.5%, to the national gross value added in 2022, while the food chain's gross value added (excluding agriculture and fishing) was $169.62 billion (£132.9 billion), reflecting a 15.4% increase from the previous year. Additionally, in January 2024, according to the United States Census Bureau, a U.S.-based government agency, the global population is projected to reach 8.019 billion, an increase of 0.075 billion (0.95%) from the previous year. Therefore, the rising global population and food demand will propel the growth of the chelate fertilizer market.
Major companies operating in the chelate fertilizer market are focusing on developing innovative biodegradable chelating agents, to deliver micronutrients efficiently while minimizing environmental impact. A biodegradable chelating agent refers to a compound that binds metal ions and breaks down naturally in the environment, reducing ecological impact. For instance, in August 2022, Innospec, a U.S.-based chemical company, launched ENVIOMET C, a new biodegradable chelating agent, to provide effective chelation while promoting environmental sustainability. This innovative product excels at chelating transition metals even in the presence of calcium and magnesium, making it ideal for applications such as stain removal, peracetic acid stabilization, and protection of dyes and fabrics. Its readiness to biodegrade meets the increasing demand for eco-friendly solutions in the chemical industry and enhances the performance of cleaning and agricultural formulations by effectively binding with transition metals.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
BASF SE, Nutrien Ltd., Syngenta AG, Yara International, The Mosaic Company, Andersons Plant Nutrient Group, Akzo Nobel NV, ICL Specialty Fertilizers, Nouryon, Nufarm Limited, Nippon Soda Co. Ltd., Haifa Chemicals Ltd, Compo Expert, Valagro SpA, Rizobacter SA, Aries Agro Limited, LidoChem Inc., ATP Nutrition Ltd., Van Iperen International, Protex International, BMS Micro-Nutrients, Manvert, Humintech GmbH, Aqua Yields
Chelate Fertilizer Market 2024 Key Insights:
• The chelate fertilizer market size is expected to see rapid growth in the next few years. It will grow to $5.00 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%.
• Rising Global Population And Food Demand To Drive Growth In Chelate Fertilizer Market
• Innovations In Chelating Agents Enhancing Sustainability And Performance In Fertilizers
• Asia-Pacific was the largest region in the chelate fertilizer market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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