Share
Chelated Micronutrient Fertilizers Market Size, Share, and Analysis, By Form (Liquid, Powder), By Type (Zinc, Copper, Iron, Boron, Manganese, Molybdenum, Others), By Application (Foliar, Soil, Fertigation, Other), By End Use (Horticulture, Agriculture, Other), and Regional Forecasts, 2022-2032.
Global Chelated Micronutrient Fertilizers market is valued at USD 0.8 billion in 2021 and is expected to reach USD 2.1 billion by 2032, increasing at a CAGR of 9% during the forecast period, 2022-2032.
Chelated trace elements assist in increasing the production by supplying the required nutrients. Chelating process together with chemical EDTA, creates a protective ring surrounding the nutrients, which shieds it from being held up in the soil or by other nutrients. These nutrients can be used along with foliar fertilizer or starter fertilizer. Several benefits associated with chelated micronutrient fertilizers like easy storage, quick water solubility to create nutrient solution will assist in the growth of the market.
Global Chelated Micronutrient Fertilizers Market is expected to project a CAGR of 9% during the forecast period, 2022-2032.
Global Chelated Micronutrient Fertilizers market is expected to reach USD 2.1 billion, growing at a CAGR of 9% during forecast period. The rising awareness regarding health benefits offered by food grown using the micronutrient fertilizers is expected to fuel the demand for Global Chelated Micronutrient Fertilizers Market and in turn, will drive the market growth. Chelated micronutrients help in providing the optimum availability of nutrients. Micronutrients play vital role in plant physiology. They assist in healthy development of plants. They help in improving microbial activity in the soil.
Zinc segment is expected to dominate in the forecast period
Global Chelated Micronutrient Fertilizers Market is classified based on the Type into Zinc, Copper, Iron, Boron, Manganese, Molybdenum, Others. Zinc is expected to dominate the global market over the forecast period owing to the demand for zinc in activities related to growing plants as it plays major role in energy production, protein synthesis, and regulating the growth of the plant. The activities related to growth & development of a plant would cease due to the lack of certain enzymes in plant tissue.
Soil segment is expected to dominate in the forecast period
Global Chelated Micronutrient Fertilizers Market is classified based on the Application into Foliar, Soil, Fertigation, Other. Soil segment is expected to dominate the market in the forecast period owing to the reasonable or inexpensive method. Certain nutrients are required for the plant growth like copper, iron, zinc, manganese, boron etc. which are facilitated through the soil. The awareness regarding the benefits of using micronutrient fertilizers through soil is expected to boost the growth of the market.
Growth Drivers
The Micronutrients Deficiency in Soil is Expected to Boost the Growth of the Market
The deficiency of micronutrients in soil is increasing and is creating demand for the usage of Chelated micronutrient fertilizers and is expected to boost the growth of the market. Due to the deficiencies in crops there might be chances of stunted growth in plants resulting in negative affect on plants. So, usage of micronutrient fertilizers is important, and it play an important role in providing balanced nutrition to crops. The demand for micronutrient fertilizers is expected to grow in the forecast period.
Increasing Research and Development Activities May Boost the Growth of Market
Increasing research &development activities by the key players of the market for expanding new micronutrient fertilizer product is expected to create growth opportunity for the market. Increasing advancements in technology like designing of devices that detect deficiencies of micronutrients level in soil is expected to boost the growth of the market. The awareness to farmers regarding knowing the deficiencies aids in purchasing certain products that can increase the micronutrient level in the soil.
Restraint
High Price of the Product May Hamper the Market Growth
The low acquirement of micronutrients owing to the low awareness and increased usage of organic fertilizers is expected to restrain the market growth of chelated micronutrient fertilizers market in the forecast period. The high cost of chelated micronutrients is expected to hamper the market growth.
Recent Developments:
Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)
Global Chelated Micronutrient Fertilizers Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America region dominated the Global Chelated Micronutrient Fertilizers Market in 2021 and is also expected to dominate the same over the forecast period owing to the favourable climatic conditions and rooted agriculture industry. The high adoption of crop nutrition and usage of micronutrient fertilizer is expected to boost the growth of Global Chelated Micronutrient Fertilizers Market. The rising awareness of the benefits using micronutrient fertilizers in crop production is expected to boost the growth of the market.
The COVID-19 outbreak had resulted in the economic downfall. Several countries had imposed lockdowns and travel bans to control the coronavirus spread. Covid-19 has affected several industries and even led to shutdown of many business activities worldwide. The Covid-19 pandemic had a positive impact on the growth of Global Chelated Micronutrient Fertilizers market due to the increased awareness on healthy consumption of food using Micronutrient Fertilizers.
Global Chelated Micronutrient Fertilizers Market is further segmented by region into:
|
ATTRIBUTE |
DETAILS |
|
Study Period |
2018-2032 |
|
Base Year |
2022 |
|
Forecast Period |
2022-2032 |
|
Historical Period |
2019-2021 |
|
Growth Rate |
CAGR of 9% from 2022-2032 |
|
Unit |
Value (USD Billion) |
|
Segmentation |
Main Segments List |
|
Form |
|
|
Type |
|
|
Application |
|
|
End Use |
|
|
By Region |
|
Global Chelated Micronutrient Fertilizers Market size was estimated at USD 0.8 billion in 2021 and is expected to reach USD 2.1 billion in 2032.
Chelated trace elements assist in increasing the production by supplying the required nutrients. Chelating process together with chemical EDTA, creates a protective ring surrounding the nutrients, which shields it from being held up in the soil or by other nutrients.
Zinc and Soil segment accounted for the largest Global Chelated Micronutrient Fertilizers market share.
Key players: Yara International, BASF, Coromandel International, Nutrien, Haifa Group, Sapec Agro, FMC, Auriga Group, Nouryon Cooperatief, Wilbur-Ellis, The Mosaic, BMS Micro-Nutrients, Valagro (Syngenta Group), ATP Nutrition, UPL and Other Prominent Players are the key players in the Global Chelated Micronutrient Fertilizers Market.
The Micronutrients Deficiency in Soil and Increasing Research and Development Activities are the factors driving the Global Chelated Micronutrient Fertilizers market.
Select License Type
Select License Type
FATPOS CLIENT Appriciation DURING THE PROJECT
Working with Fatpos Global, allowed us to take advantage of their knowledge and easy approach, allowing us to collect important data utilizing a variety of techniques. The results were clearly presented and explained, and FG responded to our questions with speed and expertise.
|
Swiss-based global building materials manufacturer |
The analyses and presentations Fatpos Global have produced for us have been of a very high caliber and have allowed us to proactively improve our customer relationship management. They have also done so while maintaining complete anonymity. Without any doubt, we suggest Fatpos Global to you.
|
|
Tech-powered construction company |
We appreciate the team’s punctuality, flexibility in terms of report modification, post report purchase support and pleasant reaction all around. Overall, my experience with this company was nothing but positive, and I couldn't be more grateful for their excellent service. Thank you for all that you do!
|
|
American global management consulting firm |
We are able to concentrate on the topics and implications that are most important to our clients thanks to the adaptability and responsiveness of the team at Fatpos Global. We would highly recommend this company to anyone in need of their services, and I will certainly be using them again in the future.
|
|
Headquartered in Zug, Switzerland, leading supplier of medical and surgical instrument |
To better study our client demographics, develop the ideal product-price architecture, and enhance our target marketing initiatives, we hired Fatpos Global. Every component of the project was completed, and we are very happy with the useful insights and actionable results.
|
|
Kosovan company, A leading organic fertilizers producer |
Thank you for your team's generous assistance, The final report was delivered to me, and I find it to be really helpful. Also, you may be sure that I will get in touch with you if I ever require fresh materials for market research. Gratitude once more.
|
|
German specialty chemicals company based in Cologne, Germany |
