Agricultural Enzymes Market By Type, By Crop Type, By Product Type, By Geographic Scope And Forecast
Agricultural Enzymes Market Size And Forecast
Agricultural Enzymes Market size was valued at 344.78 Million in 2019 and is projected to reach USD 749.79 Million by 2027, growing at a CAGR of 11.0% from 2020 to 2027.
The rising inclination for organic food is intensifying the market for the global agricultural enzymes industry. Besides this, the increase in health consciousness among consumers owing to the use of chemicals in agriculture is altering the taste and preferences towards organic fruits and vegetables will bolster the growth of the Global Agricultural Enzymes Market. The Global Agricultural Enzymes Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Agriculture Enzymes Market Definition
Enzymes are biological catalysts generally proteins that accelerate the chemical reaction. Agricultural enzymes are the catalyst that unblocks the nutrients present in the soil and makes it available to plant roots. These enzymes replace the chemicals used in food production and protection. These nutrients in the absence of an agricultural enzyme would have remained bound to the soil and unavailable to the plants. The addition of agricultural enzymes in the feed facilitates increased plant yield and quality.
These enzymes enhance crop fertility and protect crop plants against pests and diseases. Agricultural enzymes are biological catalysts used broadly in biotechnological processing, such as the bio-processing of fibers, processing of crops and crop residues, enzyme-assisted silage fermentation, and production of many animal feed supplements. Enzymes are necessary for the growth of oilseeds, pulses, fruits and vegetables, grains, and cereals.
Agricultural Enzymes have become gradually popular as they modify the quality of end-product.
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They are widely used in the agricultural industry since their application results in increased crop production. It aids in the humification of plant residues and supports the rooting and sprouting process in the early development phases. Agricultural enzymes are used widely as it helps in combating land degradation, climate change, and food insecurity. The technological advancement in the field of agricultural enzymes has boosted both the manufacturing capacity and application of agricultural enzymes such as invent of phytases and silage fermentation.
Global Agriculture Enzymes Market Overview
The rising inclination towards organic food and organic farming is the key factor intensifying market growth. Due to substantial growth in fertilizer prices, farmers have started switching to using agricultural biologicals such as biopesticides, biofertilizers, and bio-enzymes. Moreover, the growing need for bio-fuels along with new farming procedures, cost-efficiency, and higher investment in research and development will boost the market of global agricultural enzymes. Additionally, organic food such as apples, bananas, and strawberries consists of medical benefits such as enhancement of immunity, prevention of cancer, and reducing inflammation. These factors are projected to drive the demand for agricultural enzymes over the forecast period. Furthermore, the increase in health consciousness among consumers owing to the use of chemicals in agriculture is altering the taste and preferences towards organic fruits and vegetables will bolster the growth of the Global Agricultural Enzymes Market.
There are certain restraints and challenges faced which will hinder the overall market growth. The factors such as stringent government policies in the industry related to biological products are limiting market growth. Also, farmers reluctant to adopt microbe-derived products along with high R&D cost and extensive duration for patent approval are the potential restraints hampering the overall growth of the Global Agricultural Enzymes Market. Nevertheless, the adoption of modern farming practices to mitigate costs, future demand for soil enzymes due to soil pollution, and untapped potential in emerging markets offer favorable growth opportunities.
Global Agricultural Enzymes Market: Segmentation Analysis
The Global Agricultural Enzymes Market is Segmented on the basis of Type, Crop Type, Product Type, And Geography.
Agriculture Enzymes Market, By Type
- Lipases
- Proteases
- Carbohydrases
- Polymerases
- Nucleases
Based on Type, the market is bifurcated into Lipases, Proteases, Carbohydrases, Polymerases, and Nucleases. The proteases segment is estimated to witness the highest CAGR for the forecast period. Protease enzymes help in catalyzing hydrolyses of esters and anhydrides of phosphoric acid, apart from being good indicators of soil fertility. They also place a vital role in soil systems; the ability to solubilize soil mineral elements by these phosphomonoesteraces is expected to be higher in biologically managed systems, because of a superior quantity of organic carbon found in the systems. Such factors are accelerating the demand for the proteases segment of the Agricultural Enzymes Market.
Agriculture Enzymes Market, By Crop Type
- Grains and Cereals
- Pulses and Oilseeds
- Vegetables and Fruits
- Ornamentals and Turfs
- Others
Based on Crop Type, the market is bifurcated into Grains and Cereals, Pulses and Oilseeds, Vegetables and Fruits, Ornamentals and Turfs, and Others. The cereals & grains segments hold the largest market share for the forecast period. Rice is the most widely consumed staple food globally for a large part of the human population, specifically in the Asia-Pacific region. Globally, rice is the second most extensively produced grain, next to corn. Urbanization is one of the factors driving the demand for cereals & grains owing to different lifestyles, calorie requirements, an increase in income, and food requirements. Agricultural enzymes are used for most cereal crops to enrich the yield as they fertilize the soil and improve plant growth. As cereals are grown in most countries, the global demand for cereals & grains is also projected to grow.
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Agriculture Enzymes Market, By Product Type
- Growth Enhancing Products
- Control Products
- Fertility Products
Based on Product Type, the market is bifurcated into Growth Enhancing Products, Control Products, and Fertility Products. The fertility product type market is estimated to witness the highest CAGR for the forecast period. The soil is the main source of nutrients for plants, it helps in biological processes and provides protection to groundwater and plants. Soil enzymes are the key indicator of fertility and they quickly respond to climatic changes, agricultural chemicals, and industrial waste.
Agriculture Enzymes Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the World
On the basis of Geography, the Global Agriculture Enzymes Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America holds the largest market share due to several factors such as soil type, established economy, and technological advancement in the agriculture industry. The U.S. is investing a huge amount in technology to develop chemical-free products for the agricultural industry. The rising awareness towards organic farming, increasing acceptance of genetically modified (GM) seeds by the farmers, and ongoing projects will boost the market in this region.
Key Players
The “Global Agriculture Enzymes Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Novozymes A/S, Syngenta Crop Protection AG, BASF SE, Creative Enzyme, Enzyme India Pvt. Ltd., Cypher Environmental LTD, Afrizymes (Pty) Ltd., Specialty Enzymes & Biotechnologies, American Biosystems Inc.
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