What is Global Chelate Fertilizers Market?
The Global Chelate Fertilizers Market is a vast and dynamic sector that plays a crucial role in the agricultural industry. Chelate fertilizers are a type of fertilizer that contains chelated micronutrients, which are nutrients that have been chemically altered to make them more available to plants. These fertilizers are used to enhance the growth and yield of crops by providing them with essential nutrients that they may not be able to obtain from the soil. The global market for these fertilizers was valued at a significant US$ 1331.7 million in 2022. This value is expected to increase to an impressive US$ 1687.6 million by 2029, growing at a steady compound annual growth rate (CAGR) of 3.4% during the forecast period from 2023 to 2029.
Iron, Combined Mixture, Others in the Global Chelate Fertilizers Market:
The Global Chelate Fertilizers Market is segmented based on the type of chelate used in the fertilizer. These types include Iron, Combined Mixture, and Others. Iron chelate fertilizers are the most popular, accounting for 48% of the market by production. These fertilizers are particularly beneficial for plants that are deficient in iron, as they provide a readily available source of this essential nutrient. Combined mixture chelate fertilizers contain a mix of different chelated micronutrients, providing a balanced nutrient supply to plants. The 'Others' category includes various other types of chelate fertilizers that are less commonly used.
Crops, Turf in the Global Chelate Fertilizers Market:
The Global Chelate Fertilizers Market also varies based on the application of the fertilizers. The majority of these fertilizers, 88% by production, are used for crops. This is because crops often require a high level of nutrients to grow and produce a good yield, and chelate fertilizers can provide these nutrients in a form that is easily absorbed by the plants. The remaining portion of the market is for the use of these fertilizers on turf. Turf, such as lawns and sports fields, also requires a high level of nutrients to maintain a healthy and vibrant appearance, and chelate fertilizers can provide these nutrients in a form that is easily absorbed by the grass.
Global Chelate Fertilizers Market Outlook:
To rephrase the market outlook, the Global Chelate Fertilizers Market was worth US$ 1331.7 million in 2022 and is projected to reach a value of US$ 1687.6 million by 2029. This represents a compound annual growth rate of 3.4% during the forecast period from 2023 to 2029. Iron chelate fertilizers are the most commonly produced type, making up 48% of the market. The majority of chelate fertilizers, 88% by production, are used for crops.
| Report Metric | Details |
| Report Name | Chelate Fertilizers Market |
| Accounted market size in 2023 | US$ 1380.8 million |
| Forecasted market size in 2029 | US$ 1687.6 million |
| CAGR | 3.4 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Sales by Region |
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| By Company | BASF, Yara International, ICL Specialty Fertilizers, Nufarm, Haifa Group, Aries Agro, Nouryon, Andersons Plant Nutrient Group, Van Iperen International, ATP Nutrition, Manvert, BMS Micro-Nutrients, Protex International, Compo Expert, Agmin Chelates, Valagro, Deretil Agronutritional |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
