The North America Agricultural Chelates Market is expected to grow at 5.51% CAGR from 2022 - 2027 and it is estimated that the North-America market was valued at USD 121.76 million in 2021 and is relied upon to reach USD 159.21 million by 2026. Degradation of soil, increased modern farming practices, and demand for chelated iron micronutrients are key factors driving the market. The high growth potential in emerging markets and untapped regions provides market players with new growth opportunities.
Micronutrients are essential agriculture for increasing the yield and enhancing the quality of agricultural produce. Though required in very small quantities, these essential elements are consumed by plants to carry out important bodily functions. They are effectively supplied by complexes containing chelated compounds, these compounds being more stable than their non-chelated compounds. The most commonly used chelates are EDTA, DPTA and EDDHA. Micronutrients such as iron, zinc, copper, manganese, calcium and magnesium can be chelated easily, while the other nutrients cannot be readily chelated.
North America Agricultural Chelates Market Drivers:
The driving factors of the market are the increasing demand for high yielding good quality crops. These chelate compounds also helps in removing toxicity due to excess micronutrients and play an important role in helping plants overcome micronutrient deficiency, thereby increasing profits by overcoming agricultural economies. Increasing demand for biofuels is further expected to aid market growth. Rapid depletion of crude oil deposits and rising environmental concerns regarding harmful effects of petroleum products on environment are further aiding the research to find a sustainable alternative. Bioethanol and biodiesel are considered one of the sustainable alternatives.
Both of these products are derived from bio fuel such as waste vegetable and waste vegetable oils Therefore, an enlarged interest for biofuels has prompted the interest for food grains and crops, which will fuel the demand for agricultural micronutrients. Factors such as the high-cost associated with chelating agents and increasing environmental concern over non-biodegradable chelates are major constraints limiting the market growth. But with increasing emphasis on research and product development by companies to produce organic and biodegradable chelates and advantages associated with increasing adoption of hydroponics technology are boosting the growth of agricultural chelates market.
North America Agricultural Chelates Market - By Type:
EDTA
The EDTA agricultural chelates type is projected to grow the most. EDTA chelate isolates metal ions, such as calcium ions and ferrous ions, and forms weak bonds with metal nutrients, such as zinc, iron, and copper. EDTA chelates being comparatively less expensive and easily available also helps to treat harmful lead poisoning in the soil by removing the toxins, such as lead, cadmium, and mercury. These factors have further helped the demand for EDTA chelates.
North America Agricultural Chelates Market - By Application:
Soil application in the agricultural chelates market is growing as soil nutrition is necessary to increase the productivity of crops. Crops witness a usual deficiency of iron and therefore chelated iron micronutrients are applied in the soil to provide the required amount of nutrition for an enhanced crop production.
North America Agricultural Chelates Market - By Crop:
Bioethanol and biodiesel are considered the most sustainable alternatives to the conventional fuel. Bioethanol is sourced from wheat, soybean, corn, rapeseed, and sugarcane, whereas biodiesel is sourced from Jatropha, sunflower, soybean, mustard, rapeseed, flax, canola, palm oil, hemp, and waste vegetable oils. The absolute growth opportunity is expected to be highest in the cereals segment followed by fruits and vegetables.
The Market is Geographically divided into:
North America:
The application of agricultural chelates is growing in U.S. as people are demanding quality food due to rising health awareness, thus encouraging crop manufacturers to use chelates in the soil. Furthermore, GM crops a U.S. based company is heavily investing in research and development of agricultural chelates that are organic as well as bio-degradable.
Key Players:
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