Chelated Micronutrients Global Market 2024 To Reach $1.69 Billion By 2028 At Rate Of 8.2%
Chelated Micronutrients Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033
LONDON, GREATER LONDON, UK, July 12, 2024 /EINPresswire.com/ -- The chelated micronutrients market has experienced robust growth in recent years, expanding from $1.13 billion in 2023 to $1.24 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to increasing need for water treatment, rising demand from chemical manufacturing industries, need to comply with environmental and safety regulations, global focus on energy efficiency.
Strong Future Growth Anticipated
The chelated micronutrients market is projected to continue its strong growth, reaching $1.69 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to growing focus on ESG (environmental, social, and governance) practices, rising investments in renewable energy, expansion of industrial infrastructure, oil and gas exploration and production, shift towards industry 4.0 practices.
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Growth Driver Of The Chelated Micronutrients Market
The growing consumer demand for nutrient-rich foods is expected to propel the growth of the chelated micronutrient market going forward. Nutrient-rich foods refer to foods that provide substantial amounts of vitamins, minerals, and other nutrients with relatively few calories. Chelated micronutrients are commonly used in nutrient-rich foods to increase the absorption of micronutrients, making them more effective in promoting health benefits and addressing deficiencies.
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Major Players And Market Trends
Key players in the chelated micronutrients market include 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..
Major companies operating in the chelated micronutrients market are focusing on developing innovative technology, such as green chelation technology, to supply micronutrients to plants.
Segments:
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
Geographical Insights: Asia-Pacific Leading The Market
Asia-Pacific was the largest region in the chelated micronutrients market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of chelated micronutrients.
Chelated Micronutrients Market Definition
Chelated micronutrients are essential minerals that are chemically bound to organic molecules, such as amino acids, to create a complex that plants can easily absorb. These are commonly used in agriculture to improve plant growth and crop yields, as they enhance nutrient uptake, stability, and effectiveness.
The main nutrients in chelated micronutrients are zinc., manganese, copper, boron, molybdenum, iron, and others. Zinc is an essential micronutrient for plants, and in the context of chelated micronutrients, it refers to zinc that has been chemically bonded to an organic molecule to form a chelate. The forms in which it is available are dry, liquid, and others. The various crop types involved are rains and cereals, pulses and oilseeds, commercial crops, fruits and vegetables, turf and ornamentals, and are used for soil, foliar, fertigation, and others.
Chelated Micronutrients Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Chelated Micronutrients Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on chelated micronutrients market size, chelated micronutrients market drivers and trends, chelated micronutrients market major players, chelated micronutrients competitors' revenues, chelated micronutrients market positioning, and chelated micronutrients market growth across geographies. The chelated micronutrients market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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