Growing Demand for High-Value Crops and Decrease in the Arable Land to Drive the Agricultural Chelates Market

The global agricultural chelates market size is estimated to account for a value of USD 0.9 billion in 2019 and is projected to grow at a CAGR of 7.7% from 2019, to reach a value of USD 1.5 billion by 2025. The growing demand for high-value crops and a decrease in the arable land are some of the factors driving the growth in the market.

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There has been an increasing demand for food products due to the increase in population and a decrease in arable land. The growers are also using innovative inputs to increase crop yields, along with enhancing the quality to meet the needs of the growing population and the food processing industry.

It is reported in many regions that EDTA chelating agent enables high absorption of micronutrients in the plant and offers strong binding ability when used with essential micronutrients, such as iron (Fe), zinc (Zn), copper (Cu), and manganese (Mn), resulting in enhanced crop growth. Thus, there is a high scope of growth for the market.

The fruits & vegetables segment is estimated to account for the largest share in the agricultural chelates market in 2019. The consumption of fruits and vegetables has witnessed an increasing trend and is projected to grow in the coming years. 

According to the Food and Agriculture Organization (FAO), China and India are among the largest producers of fruits and vegetables in 2018. The increase in export demand for fruits and vegetables from these countries and high return values have led to the expansion of the cultivation area for these crops. Hence, the agricultural chelates market for fruits & vegetables is projected to witness significant growth during the forecast period.

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In countries such as Spain and the Netherlands, there has been an increase in area under protected cultivation, including greenhouses, due to the increasing demand from other European countries. Many ranges of crops, such as cereals, pulses, fruits, oilseeds, and cash crops, witness export demands in these countries. Soil type varies from region to region and the crop growth is highly dependent on that. Due to the deficiency of micronutrients reported in soils across Europe, the agricultural chelates market is projected to witness a high scope of growth.

Key players in this market include BASF SE (Germany), Nouryon (Netherlands), The Dow Chemical Company (US), Yara International (Norway), and ICL (Germany). 

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