Chelate Fertilizer Market Share, Size, Global Industry Analysis, Key Growth Drivers Trends, Segments, Opportunity and Forecast 2029
The global chelate fertilizer market size is likely to grow at a staggering rate in the forthcoming years. Chelate fertilizers enhance the micronutrient levels of the soil. They enhance the production of pulses, oilseeds, and various grains. The striking growth in the global population has surged the demand for food and forced the farmers to produce high-yielding crops. Fortune Business Insights™ has presented this information in an upcoming report titled, “Chelate Fertilizer Market, 2021-2029”.
The increase in food demand due to the increasing population is anticipated to be the main factor propelling the market growth. Additionally, the increasing urbanization is reducing the land available for agriculture. This is expected to be a crucial factor escalating the demand for chelate fertilizers.
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Key Players in the Global Chelate Fertilizer Market are:
- BASF SE
- The Dow Chemical Company
- Yara International
- Haifa Chemicals Ltd.
- Nufarm Ltd
- Aries Agro Ltd.
- The Andersons Inc.
- ATP Nutrition
- West Central
On the basis of type, the market segments into IDHA, DTPA, EDDHA, EDTA, etc. On the basis of application, the market fragments into fertigation, foliar sprays, seed dressing, soil application, etc. On the basis of end-use, the market bifurcates into indoor farming and agriculture. Geographically, the market is classified into North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
- The report provides a detailed qualitative and quantitative assessment of the market.
- The report is based on bottom-up and top-down approaches to market research.
- The report provides information on various market segments; type, application, end-use, etc.
- The report profiles companies in the market and highlights rankings of key players.
- The report highlights new advancements in production technology, new product launches, key market trends, etc.
Drivers & Restraints-
Spiraling Global Food Demand to Intensify Business Outcomes
The growing inclination towards healthy eating habits has fueled the demand for green vegetables and fruits worldwide. The increasing population is further escalating the demand for food and augmenting the chelate fertilizer market growth.
The growing exports of fruits and vegetables from countries like India and China are expected to augment market growth.
The improving farming techniques for enhancing crop quality and yields are expected to drive market growth.
Due to increasing urbanization and industrialization, the lack of agricultural land forces farmers to adopt chelate fertilizers. Hence, driving the market growth.
Additionally, the decreasing PH levels of soil and the increasing awareness about chelate fertilizers are expected to offer lucrative growth opportunities in the upcoming years.
Asia Pacific to Dominate Global Market Due to Increasing Product Application
The increasing agricultural landscape in countries like India and China is anticipated to boost the global chelate fertilizer market share in Asia Pacific. Due to the increasing agricultural area, the production levels increase manifold. The cultivation of particular fruits, vegetables, and grains, that can grow only in the Asia Pacific is expected to drive the market growth.
The foliar spraying technique is a cost-effective, highly reliable, and widely utilized technique in North America. The technique provides minimum nutrient loss and reduced environmental pollution on its application. This technique is expected to be the main growth driver in North America.
Europe has soils that lack micronutrients. This is expected to propel the product demand and help Europe witness monumental growth in the upcoming years.
The Middle East & Africa is anticipated to witness moderate growth due to the establishment of manufacturing plants and technological advancements.
The uncertain economic situations and political unrest are likely to force Latin America’s sluggish growth during the forecast period.
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Key Players Launch New Products to Strengthen Market Position
The fairly consolidated market comprises key players focused on devising innovative strategies to prosper in the neck-to-neck competition. The key players focus on introducing new products, developing new cost-effective production technologies, increase research and development activities, etc., to strengthen their market position. The key players also emphasize on growth through partnerships, acquisitions, mergers, etc. For instance, Nouryon entered into strategic collaborations with Itaconix Corporation in January 2019. The collaboration will help the company in the distribution and production of bio-based polymers comprising chelating properties.
- July 2019: West Central launched a new broadcast fertilizer additive called Trivar to enhance soil quality with low micronutrients.
- June 2019: BASF SE announced the expansion of its manufacturing facility in Ludwigshafen, Germany. This expansion will help the company to upscale its value chain for chelating agents in Europe.
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