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Chelated Micronutrients Market Thrives As Consumer Demand For Nutrient-Rich Foods Surges: An Emerging Driver Transforming The Chelated Micronutrients Market Landscape
Chelated Micronutrients
What Is the Projected Growth of the Chelated Micronutrients Market?
The market of chelated micronutrients has seen a powerful surge in recent times. It is projected to escalate from $1.24 billion in 2024 to $1.35 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 9.4%. The impressive historical growth is largely due to factors such as the amplified need for water treatment, greater demand in the chemical manufacturing sectors, requirements to meet environmental and safety regulations, as well as a worldwide emphasis on energy efficiency.
In the coming years, the market for chelated micronutrients is anticipated to witness robust growth, with its size predicted to reach $1.82 billion by 2029, reflecting a compound annual growth rate (CAGR) of 7.7%. This growth during the projected timeline might result from a heightened emphasis on ESG (environmental, social, and governance) procedures, a climb in renewable energy investments, the expansion of industrial facilities, oil and gas exploration as well as production, and industry 4.0 practices adoption. Other significant tendencies during this period are expected to encompass the integration of artificial intelligence (AI) and machine learning, a focus on sustainability and social accountability, rising acceptance of cloud-based platforms, enhanced cooperation and integration, increased use in the financial services sector, and an escalating focus on consumer behavior and choices.
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What Are the Different Chelated Micronutrients Market Segments?
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
Subsegments:
1) By Zinc: Zinc EDTA, Zinc EDDHA
2) By Manganese: Manganese EDTA, Manganese EDDHA
3) By Copper: Copper EDTA, Copper EDDHA
4) By Boron: Boron EDTA, Boron EDDHA
5) By Molybdenum: Molybdenum EDTA, Molybdenum EDDHA
6) By Iron: Iron EDTA, Iron EDDHA
7) By Other Nutrients: Cobalt, Nickel, Other Chelated Micronutrients
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What Are the Primary Drivers Shaping the Chelated Micronutrients Market?
The rise in consumer requirements for foods high in nutrients is predicted to spur the expansion of the chelated micronutrient market in the future. Foods that offer significant quantities of vitamins, minerals, and other nutrients while maintaining relatively low calorie counts are referred to as nutrient-rich foods. Chelated micronutrients are frequently employed in these types of foods to enhance the uptake of micronutrients, thereby making them more efficient in providing health benefits and addressing nutrient deficiencies. For example, Statistics Canada, a governmental agency of Canada, reported in February 2023 that the sales at the farm-gate of fruits and vegetables increased by 13.1% in 2022, reaching $3.0 billion, a notable rise compared to 2021. Thus, the escalating consumer desire for nutrient-dense foods is facilitating the growth of the chelated micronutrient market.
Which Companies Are Leading 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.
What Trends Are Expected to Dominate the Chelated Micronutrients Market in the Next 5 Years?
Key players in the chelated micronutrients industry are concentrating on inventing fresh solutions, including advanced nutrient absorption and elevated crop production, to satisfy the needs of contemporary agriculture. Advanced nutrient absorption pertains to compounds that facilitate more effective use of critical micronutrients by plants, resulting in stronger growth and enhanced efficiency. For example, Coromandel International, an agricultural inputs firm based in India, unveiled Paramfos Plus in June 2024. This magnesium-fortified fertilizer is engineered to maximize nutrient supply for crops. Paramfos Plus incorporates chelated micronutrients, enriching nutrient consumption in plants by boosting the bioavailability of key substances like iron and zinc. The chelation procedure safeguards these nutrients from precipitation in high-pH soils, ensuring they stay soluble and ready for absorption by plants. This leads to healthier plants with superior nutrient utilization, and elevated crop production.
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What Are the Top Revenue-Generating Geographies in the Chelated Micronutrients Market?
Asia-Pacific was the largest region in the chelated micronutrients market in 2024. The regions covered in the chelated micronutrients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Chelated Micronutrients Market?
2. What is the CAGR expected in the Chelated Micronutrients Market?
3. What Are the Key Innovations Transforming the Chelated Micronutrients Industry?
4. Which Region Is Leading the Chelated Micronutrients Market?
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