Chelated Micronutrient Fertilizers Market

Chelated Micronutrient Fertilizers Market Size

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.

Market Highlights

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.

Global Chelated Micronutrient Fertilizers Market Segmentation:

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.

Market Dynamics:                                                    

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:

• In July 2019, biodegradable chelates was developed by BASF, “Trilon M Max EcoBalanced”, first renewable based “Trilon M” grade produced according to the biomass balance approach.
• In 2018, BRANDT, bought new micronutrient formulations, Brandt Smart Quatro Plus.

Global Chelated Micronutrient Fertilizers Market_Key Players Covered:

• 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

Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Regional 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.

Impact of Covid-19 on Global Chelated Micronutrient Fertilizers 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:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA.

Global Chelated Micronutrient Fertilizers Market Scope and Segments:

Frequently Asked Questions (FAQ):