In 2022, the market for agricultural enzymes had a net value of nearly US$ 400 Million. Looking ahead, FMI projects that the agricultural enzymes market can expand at a compound annual growth rate of 10% from 2022 to 2032, reaching US$ 1 Billion by the end.
The use of enzymes in agriculture is now widely accepted in the modern farming community, making it a very highly marketable and profitable business product. Rising consumer awareness of biological agricultural goods and enhanced R&D and advertising initiatives by the agricultural enzymes market major players are the major drivers propelling the sales of agricultural enzymes in present years. Additionally, the fast population growth and rising consumer demand for chemical-free goods are all contributing to the increased need for food safety worldwide which could play a significant role in the increased uses of natural enzymes used in agriculture.
Some of the other reasons influencing the global rise in demand for agricultural enzymes is the need to improve food standards, given the rising propensity for inorganic chemicals. Also, as a result of the growing trend of precision farming for increasing the production yield in limited arable land, the global agricultural enzymes market size is expected to see considerable growth through the forecast period.
Attributes
Details
Agricultural Enzymes Market Size Value (2022)
US$ 400 Million
Agricultural Enzymes Market Size Value (2032)
US$ 1 Billion
Agricultural Enzymes Market Growth Rate (2022 to 2032)
10%
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Regulatory Compliances to Remain Key Concern for Manufacturers
There are some regulatory mandatories adopted by governments of several economies to control the misuse of enzymes that could impediment the demand for agricultural enzymes to some degree. Furthermore, the global movement for organic farming and natural farming methods that prohibits the use of any type of inorganic chemicals and artificial enhancers to increase production is poised to limit the growth of the agricultural enzymes market key trends and opportunities.
Owing to the increasing global interest in eliminating malnutrition by 2030, particularly in African countries, has encouraged governmental and non-governmental organizations to promote the use of enzymes in agriculture. This major development is regarded as the key factor in the growth of the agricultural enzyme market trends and is expected to boost the market further in the coming days as well.
North America is expected to continue to maintain its largest sizable market share globally throughout the projected period as a result of the growing number of farmers and farming activities in the vicinity of its urban areas. While traditionally agriculturally dominant countries like China and India are expected to witness the highest growth rate in sales of agricultural enzymes through the forecast years. The market demand for agricultural enzymes in such nations is anticipated to be driven by the rising expense of synthetic chemicals, their detrimental impact on soil quality and the ecosystem, and the growing public recognition of the significance of balanced soil nutrients.
Enzymes are the necessary activators in life processes and are known to play a major role in preserving soil health and its environment. Enzymes are vital for the growth of fruits and vegetables, oilseeds, pulses, grains and cereals. Agricultural Enzymes have become increasingly popular as they change the quality of end-product.
It aids in humification of plant residues and supports the rooting and sprouting process in the early development phases. This has inclined the demand for Agricultural Enzymes and has strengthen the overall Global Agricultural Enzymes Market in the past few years. This market will showcase higher growth in the coming few years.
Global Agricultural Enzymes: Market Segmentation
The Global Agricultural Enzymes industry is divided on the basis of application, types of crop and by applications. The application segment is further break-down into fertility products, control products and growth augmenting product. Besides this, the product segment is also further segmented as lipases, proteases, carbohydrases, polymerases and nucleases. On the other hand, segment by type of crops are further sub-divided into fruits and vegetables, cereals and pulses and oilseeds and grains.
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Global Agricultural Enzymes: Growth Drivers
Rising inclination of organic food is intensifying the market for Global Agricultural Enzymes industry. Besides this, increasing health consciousness among people with respect to food with added chemicals will bolster the growth of Global Agricultural Enzymes market in the next six years. Apart from this, increasing demand for bio-fuels along with cost-efficiency, new farming procedures and higher investment in research and development will drive the market of Global Agricultural Enzymes.
Global Agricultural Enzymes: Regional Outlook
Geographically, the Global Agricultural Enzymes industry can be divided by major regions which include North America, Latin America, Western and Eastern Europe, Asia-Pacific region, Japan, Middle East and Africa. It has been noticed that, presently North America captures the major chunk in the overall Global Agricultural Enzymes market and is anticipated to dominate the industry owing to rising agricultural undertakings and enhancing crop protection.
Besides this, Asia-Pacific zone will showcase expansion in future due to rapid development in the Chinese market. Inclination in population, higher preferences for enzymes as compared to chemicals will stimulate the growth of China agricultural enzymes market which will ultimately impact the Asian region. .
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Global Agricultural Enzymes: Players
Some of the major conglomerates capturing the substantial market share in the Global Agricultural Enzymes market includes Agrinos Inc. (Norway), Agri Life (India), Bioworks Inc. (U.S.), Novozymes (Denmark), Greenmax Agro Tech (India) and Stoller Inc. (U.S.)
The Report covers exhaustive analysis on
Agricultural Enzymes Market Segments
Agricultural Enzymes Market Dynamics
Historical Actual Market Size, 2012 – 2015 for Global Agricultural Enzymes Market
Agricultural Enzymes Market Size & Forecast 2016 to 2025
Supply & Demand Value Chain
Agricultural Enzymes Market Current Trends/Issues/Challenges
Competition & Companies involved in Global Agricultural Enzymes Market
Technology
Value Chain
Global Agricultural Enzymes Market Drivers and Restraints
Regional analysis for Global Agricultural Enzymes Market includes
North America
US & Canada
Latin America
Brazil, Mexico, Others
Western Europe
EU5
Nordics
Benelux
Eastern Europe
Asia Pacific
Australia and New Zealand (ANZ)
Greater China
India
ASEAN
Rest of Asia Pacific
Japan
Middle East and Africa
GCC Countries
Other Middle East
North Africa
South Africa
Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies
