Agricultural Chelates Market to grow at a CAGR of 6.9% to reach $620.5 million by 2021

Reports And Markets Publish a New Market Research Report On –"Agricultural Chelates Market - Growth, Trends and Forecasts (2017 - 2022)"

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The global agricultural chelates market, in terms of value, is expected to grow at a CAGR of 6.9% to reach $620.5 million by 2021. Chelates are defined as useful micronutrients applied mainly to alkaline soil. Major chelate nutrients used in agriculture sector are iron, manganese, zinc and copper etc.

Chelated compounds are required by plants in small quantities and therefore referred as micronutrients. Chelated compounds are more stable than non-chelated compounds and so find higher usage in agriculture fields. Farmers, crop producers, and agricultural companies are the end users of agricultural chelates.

Growing food demand and the need for higher agricultural productivity are the major market drivers for high demand of chelates. Shrinking farm land, soil degradation and subsequent micronutrient deficiency are also driving the market demand for chelates. Product innovation pertaining to biodegradable chelates and high scope from developing regions are identified as the major opportunity areas here. However, micronutrient toxicity and concern over non-biodegradable chelates would act as obstacle for market growth.

The agricultural chelates market is explained on the basis of product type, application type and crop coverage. By type, the market is segmented into EDTA, EDDHA, DTPA, IDHA, and others. Accounting for largest market share, EDTA chelates demand is projected to grow at the highest CAGR during the forecast period of 2016-2021. The chelate compounds can be applied to soil, seed, foliar and hydroponics etc.

Soil application is depicts high potential for agricultural chelates market as soil nutrition is necessary for increased productivity. By crop type, the market demand for chelates is led by cereals and grains followed by fruits and vegetable segment. The oilseed and pulses crops would exhibit high growth CAGR during the forecast period. Cereals like rice, wheat and corn would lead the market demand due to increased need for food products owing to growing global population.

Europe is reported to be the largest market for agricultural chelates followed by North America and Asia-Pacific region. Asia-Pacific is projected to grow at the highest CAGR owing to soil degradation, micronutrient deficiency, and adoption of modern agricultural practices in many developing nations. The key players are strategizing to enter in countries such as China, India, and Thailand among others.

Government support for improvement of agricultural technology in many developing nations around the world is positively helping market growth for agricultural chelates. Due to presence of number of large and small scale firms, the market possesses moderate competition. The major dominating players in the industry are- Syngenta AG (Switzerland), Haifa Chemicals Ltd (Israel), Akzo Nobel N.V. (The Netherlands), Nufarm Limited and BASF SE (Germany) etc. Other specific industry players active in the global market are- Protex International, Valagro SPA, Van Iperen International and Nutra-Flo Company (K- Flo) etc. Geographical penetration through collaboration, merger and acquisitions are the time tested short term strategies followed by the market leaders here.

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Key Deliverables in the Study

Market analysis for the Global Agricultural Chelates Market, with region specific assessments and competition analysis on global and regional scales

Market definition along with the identification of key drivers and restraints

Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale

Extensively researched competitive landscape section with profiles of major companies along with their market shares

Identification and analysis of the macro and micro factors that affect the Global Agricultural Chelates Market on both global and regional scales

A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information

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