Agricultural Enzymes Market
Agricultural Enzymes Market is predicted to reach USD 824 million by 2027, expanding at a CAGR of 11.7% over the forecast period, owing to the rise in organic farming and growing demand for natural food. Agricultural enzymes are environment-friendly microbial enzymes that use living microbes to enhance farming practices. These bioactive protein molecules prevent various pests and improve soil fertility.
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The major factor propelling the agricultural enzymes market growth includes the growing demand for advanced agricultural practices to enhance crop production, maintain soil fertility, and stimulate plant growth with negligible disturbance and soil loss. Enzymes are naturally composed and have gained immense adoption in the farming sector. Accelerating population and growing per capita income across the emerging nations will propel the Agricultural Enzymes Market growth. Leading players have developed technologies to produce these enzymes from the microbes, which helps increase crop productivity and reduce the use of pesticides in food production. The rising price of chemical fertilizers has encouraged farmers to switch to agricultural biological products like biopesticides, bio-enzymes, and biofertilizers which has indirectly bolstered the Agricultural Enzymes Market size.
The global agricultural enzymes market has been divided by type, product type, crop type, and region.
By type, the phosphatases segment will hold a larger share over the forecast period attributed to a surge in demand by the farmers. Phosphate enzymes help catalyze hydrolyses of anhydrides & esters of phosphoric acid to maintain soil fertility.
By crop type, the cereals & grains segment is projected to dominate the agriculture enzymes market during the forecast period. Rapid urbanization is a major factor generating demand for cereals & grains guided by the need for calories, food demand, and rising income levels.
By product type, the soil fertility products segment is predicted to hold a larger CAGR in the global agricultural enzymes market due to the rising use of soil fertility products for better crop yield.
By region, North America region is anticipated to lead the market with the highest share over the forecast period, owing to the growing concern about preserving arable land. In addition, surging consciousness toward agricultural biotechnology and the adoption of sophisticated farming technologies among farmers has bolstered the Agricultural Enzymes Market share.
Key Developments:
In 2020, Syngenta AG partnered with Novozymes to introduce an exclusive bio fungicide, i.e., TAEGRO® in Europe and Latin America. TAEGRO will prevent crop diseases such as botrytis and powdery mildew.
In 2019, BASF introduced Natuphos® E phytase enzymes for the feed sector in Indonesia. Natuphos E phytase enzymes advanced environmentally friendly and cheaper prices to make livestock feed.
Key Developments:
In 2020, Syngenta AG partnered with Novozymes to introduce an exclusive biofungicide i.e., TAEGRO® in Europe and Latin America. TAEGRO will prevent from crop diseases such as botrytis and powdery mildew.
In 2019, BASF introduced Natuphos® E phytase enzymes for the feed sector in Indonesia. Natuphos E phytase enzymes advanced environmentally friendly and more cheaper prices to make livestock feed.
Agricultural Enzymes Market Segmentation:
Agricultural Enzymes Market by Type
• Phosphatases
• Dehydrogenases
• Proteases
• Sulfatases
• Ureases
• Others
Agricultural Enzymes Market by Crop Type
• Cereals & Grains
• Oilseeds & Pulses
• Fruits & Vegetables
• Turfs & Ornamentals
• Others
Agricultural Enzymes Market by Product Type
• Soil Fertility Products
• Plant Growth Enhancing Products
Agricultural Enzymes Market by Region:
• Asia Pacific
o China
o Japan
o India
o Rest of APAC
• North America
o United States of America
o Canada
• Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
• RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
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