Agricultural Chelates Global Market Opportunities and Strategies to 2033

This report describes and explains the agricultural chelates market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global agricultural chelates market reached a value of nearly $1.13 billion in 2023, having grown at a compound annual growth rate (CAGR) of 4.81% since 2018. The market is expected to grow from $1.13 billion in 2023 to $1.64 billion in 2028 at a rate of 7.69%. The market is then expected to grow at a CAGR of 8.19% from 2028 and reach $2.44 billion in 2033.

Growth in the historic period resulted from the increasing awareness of crop nutrition, growing adoption of irrigation systems, shift towards organic farming methods and growth in horticulture crops. Factors that negatively affected growth in the historic period include potential risks of over-application.

Going forward, the increasing demand for high-quality crops, increasing world population and food demand, rapid urbanization, growing awareness about sustainable agriculture practice and increasing adoption of precision farming will drive the market. Factors that could hinder the growth of the agricultural chelates market in the future include concerns over environmental impact.

The agricultural chelates market is segmented by type into EDTA (Ethylenediaminetetraacetic acid), EDDHA (Ethylenediamine-N,N'-bis(2-Hydroxyphenylacetic acid)), DTPA (Diethylenetriaminepentaacetate), IDHA (Imidodisuccinic Acid) and other types. The EDTA (Ethylenediaminetetraacetic acid) market was the largest segment of the agricultural chelates market segmented by type, accounting for 34.39% or $391.69 million of the total in 2023. Going forward, the DTPA (Diethylenetriamine Pentaacetate) segment is expected to be the fastest growing segment in the agricultural chelates market segmented by type, at a CAGR of 9.03% during 2023-2028.

The agricultural chelates market is segmented by crop type into cereals and grains, oilseeds and pulses, fruits and vegetables and other crop types. The fruits and vegetable market was the largest segment of the agricultural chelates market segmented by crop type, accounting for 37.73% or $429.71 million of the total in 2023. Going forward, the oilseeds and pulses segment is expected to be the fastest growing segment in the agricultural chelates market segmented by crop type, at a CAGR of 8.85% during 2023-2028.

The agricultural chelates market is segmented by application into soil, foliar, hydroponics and other applications. The foliar market was the largest segment of the agricultural chelates market segmented by application, accounting for 43.43% or $494.66 million of the total in 2023. Going forward, the foliar segment is expected to be the fastest growing segment in the agricultural chelates market segmented by application, at a CAGR of 8.28% during 2023-2028.

The agricultural chelates market is segmented by channel into business-to-business and business-to-consumer. The business-to-business market was the business-to-business largest segment of the agricultural chelates market segmented by channel, accounting for 77.62% or $884.02 million of the total in 2023. Going forward, the business-to-consumer segment is expected to be the fastest growing segment in the agricultural chelates market segmented by channel, at a CAGR of 8.36% during 2023-2028.

Asia-Pacific was the largest region in the agricultural chelates market, accounting for 35.92% or $409.04 million of the total in 2023. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the agricultural chelates market will be Asia-Pacific and South America, where growth will be at CAGRs of 8.79% and 7.86% respectively. These will be followed by Western Europe and North America, where the markets are expected to grow at CAGRs of 7.39% and 6.80% respectively.

The global agricultural chelates market is highly concentrated, with large players operating in the market. The top ten competitors in the market made up to 62.90% of the total market in 2022. Mitsubishi Chemical Corporation was the largest competitor with a 46.27% share of the market, followed by Dow Inc. with 5.35%, BASF SE with 4.07%, AkzoNobel N.V. with 3.22%, LABORATORIO JAER SA with 1.68%, Yara International ASA with 1.47%, Syngenta AG with 0.38%, Aries Agro Limited with 0.33%, Compo Expert GmbH with 0.061% and Innospec Inc. with 0.055%.

The top opportunities in the agricultural chelates market segmented by type will arise in the EDTA (Ethylenediaminetetraacetic acid) segment, which will gain $160.31 million of global annual sales by 2028. The top opportunities in the agricultural chelates market segmented by crop type will arise in the fruits and vegetable segment, which will gain $198.29 million of global annual sales by 2028. The top opportunities in the agricultural chelates market segmented by application will arise in the foliar segment, which will gain $241.62 million of global annual sales by 2028. The top opportunities in the agricultural chelates market segmented by channel will arise in the business-to-business segment, which will gain $384.82 million of global annual sales by 2028. The agricultural chelates market size will gain the most in China at $112.85 million.

Market-trend-based strategies for the agricultural chelates market include focus on introduction of innovative products to enhance market position and meet evolving consumer demands, focus on partnerships and acquisitions to facilitate the exchange of expertise, resources and technology and focus on the development of new production facilities to meet the burgeoning global demand.

Player-adopted strategies in the agricultural chelates market include focus on developing new products to expand business, focus on strategic partnerships and focus on developing new products to expand business expertise.

To take advantage of the opportunities, the analyst recommends the agricultural chelates companies to focus on product innovation and environmental sustainability, focus on expanding production capacity, focus on the fastest-growing DTPA segment, focus on the fastest-growing oilseeds and pulses segment, focus on expanding distribution channels for business-to-consumer segment, expand in emerging markets, continue to focus on developed markets, focus on strategic partnerships and acquisitions for market expansion, provide competitively priced offerings, focus on competitive and value-based pricing strategies, participate in trade shows and events, continue to use B2B promotions, focus on digital marketing and educational content and focus on targeting the foliar market segment.