LONDON, April 19, 2016 /PRNewswire/ -- "Agricultural chelates market projected to grow at a CAGR of 6.7%"
The agricultural chelates market is projected to reach USD 566.1 million by 2020 at a CAGR of 6.7% from 2015 to 2020. The market is driven by factors such as global economic growth, rising demand for food products, and modern agricultural practices. The high growth potential in emerging markets and untapped regions provides new opportunities for market players.
"EDTA agricultural chelate type is the fastest growing market from 2015 to 2020"
The EDTA agricultural chelate type is projected to grow with the highest CAGR from 2015 to 2020. EDTA chelates help in the isolation of metal ions, such as calcium ions and ferrous ions, and it also forms weak bonds with metal nutrients, such as zinc, iron, and copper which are required to provide adequate nourishment to the crops. Moreover, EDTA treats harmful lead poisoning in the soil by extracting harmful toxins, such as lead, cadmium, and mercury, maintaining better soil quality.
"Cereals & grains led the market with the largest share in 2014"
On the basis of crop type, the agricultural chelates market is led by the cereals & grains segment followed by the fruits & vegetables segment. The oilseeds & pulses segment is projected to grow at the highest CAGR from 2015 to 2020. The importance of oilseeds & pulses is increasing as they are cash crops which generate considerable revenue for the manufacturers. Cereals & grains, such as rice, wheat, and corn, are grown abundantly in many regions and the rise in the global population has led to the increase in its demand. Several cereal growers have adopted the liquid fertilizer technology in order to achieve higher crop yield. For instance, Australia uses the fluid planting technology to achieve higher crop yield. Through this technology, agricultural chelates are mixed with metal nutrients, such as iron, zinc, and copper, to achieve increased crop productivity.
The breakdown of the primaries on the basis of company, designation, and region, conducted during the research study, is mentioned as below.
By Company Type: Tier 1 – 20%, Tier 2 – 45%, and Tier 3 – 35%
By Designation: Director level – 55%, C Level – 30%, and Others – 15%
By Region: North America – 12%, Europe – 45%, Asia-Pacific – 25%, and RoW – 18%
"China contributed to the largest market share in the Asia-Pacific region"
The Asia-Pacific region is projected to grow at the highest CAGR during the forecast period. This region has a large market for agricultural chelates and is continuously increasing due to economic growth, high demand for food, and the use of modern agricultural practices. Moreover, the government is taking substantial efforts in the improvement of agricultural techniques and technology.
Major players such as BASF SE (Germany), Haifa Chemicals Ltd (Israel), Syngenta AG (Switzerland), Akzo Nobel N.V. (The Netherlands), and Nufarm Limited (Australia) collectively accounted for the largest portion of the agricultural chelates market in 2014. Other players such as Deretil Agronutritional (Spain), Shandong IRO Chelating Chemicals Co. Ltd. (China), Protex International (France), Valagro SPA (Italy), and Van Iperen International (Italy) also have a strong presence in this market.
Reasons to buy this report:
- To get a comprehensive overview of the global agricultural chelates market
- To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them
- To gain insights of the major countries/regions in which the agricultural chelates market is flourishing
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