New York City, NY, 09 January, 2020/ 24 Market Reports: The global agricultural chelates market is estimated to reach USD 1.2 billion by 2025 from that of USD 0.8 billion in 2019 witnessing the growth at a CAGR of 7.8% during the forecast period of 2019 to 2025. The growing demand for high-value crops and a decrease in the arable land are the major factors that are driving the growth of the market during the forecast period.
EDTA agricultural chelates to witness the growth at the fastest rate during the forecast period
Owing to the increase in population and a decrease in arable land the demand for food products is been rising consistently during the forecast period. To meet the needs of the growing population and the food processing industry innovative techniques to improve crop yields is been adopted by the growers along with the enhancement in the quality. The EDTA chelating agent offers strong binding ability when used with essential micronutrients, such as iron (Fe), zinc (Zn), copper (Cu), and manganese (Mn) and also enables high absorption of micronutrients in the plant resulting in the enhancement in the growth of the crop. These factors are influencing the growth of the market for agricultural chelates during the forecast period.
Fruits & vegetable segment to hold the highest share in the market during the forecast period
During the forecast period, it is estimated for the fruit & vegetable segment to account for the highest share in the agricultural chelates market. There has been an increase in the consumption of fruits & vegetables and the trend is estimated to grow even higher during the forecast period. India and China are the largest producers of fruits & vegetables and thus the export of fruits & vegetables from these countries will boost the growth of the market in these regions. Thus the fruits & vegetable segment of the agricultural chelates market is estimated to witness high growth in the market during the forecast period.
The foliar segment, by application to grow at the fastest rate in the agricultural chelates market
The application of water and agricultural chelates through spray pumps, tractor mounted sprayers, drones and aeroplanes are done by the agricultural process named foliar spray. Maximization of the yield, minimization of the nutrition losses and reduction in environmental pollution are the opportunities the process provides. The farmers across the world highly prefer foliar spray method as it ensures a uniform application of nutrients and reduces agricultural input costs and thus is been highly preferred for the application of agricultural chelates. Thus, during the forecast period, it is estimated for this method to witness the growth at the highest rate.
Europe to dominate the global agricultural chelates market during the forecast period
In the year 2018, Europe held the highest share in the market and the trend is estimated to continue throughout the forecast period. Due to the increasing demand from other European countries, there has been an increase in area under protected cultivation, including greenhouses in countries such as Spain and the Netherlands. Many ranges of crops, such as cereals, pulses, fruits, oilseeds, and cash crops, witness export demands in these countries. The growth of the crop is highly dependent on the type of soil that varies from region to region. Due to the deficiency of micronutrients in the soil the agricultural chelates market in Europe is estimated to account for significant growth throughout the forecast period.
The following are the major objectives of the study:
- To define, describe, and forecast the global agricultural chelates market on the basis of product, application and region.
- To provide detailed information regarding major factors influencing growth of the market (drivers, restraints, and opportunities).
- To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall market.
- To analyze the opportunities in the market for key stakeholders and provide details of the competitive landscape for leading market players.
- To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
- To strategically profile the key market players and comprehensively analyze their market shares and core competencies.
- To track and analyze competitive developments such as acquisitions, expansions, new product launches, agreements, and collaborations in the global agricultural chelates market.
Critical Questions which the report answers:
- What are the major vendor/manufacturers in the market? What is their growth potential during next decade?
- What are the key revenue generating pockets for global agricultural chelates market and their future potential during next decade?
- How competitive landscape is evolving in global agricultural chelates market?
