23-Mar-2021 | Market Research Store
The Global Agricultural Enzymes Market Is Powered By Massive Investments In The Research & Development, Rising Health Awareness, massive investments in the research & development, And Agricultural Sustainability.
Enzymes, which are mainly proteins, are biological catalysts that speed up chemical reactions. Agricultural enzymes are bioactive proteins that are used to produce and preserve food instead of chemicals. Agricultural enzymes serve as a catalyst, speeding up the chemical reaction that unblocks soil nutrients and making them available to plant roots. They're also used to boost crop fertility and protect crops from pests and diseases. These aspects help crops grow faster and more effectively. Without an agricultural enzyme, these nutrients may have remained attached to the earth, inaccessible to the plants. Increased plant yield and consistency are supported by the addition of agricultural enzymes to the feed.
In 2019, demand for the agricultural enzymes market was projected at around USD 350.0 Million, and current and expected developments by 2026 would reach an estimated around USD 730.0 Million. The global agricultural enzymes industry is expected to expand at a CAGR of about 11.2%, according to companies and analysts. Increased demand for food, increased demand for crop efficiency, and increasing population is expected to generate favorable momentum for agricultural enzymes in sustainable agricultural productivity in the upcoming years.
Some of the leading and top companies in the agricultural enzymes market contain Novozymes A/S, Syngenta AG, BASF SE, DuPont, Koninklijke DSM N.V., Bioworks, Inc., Agri Life, Bayer AG, Monsanto Company, Stollerusa, AB Enzymes, Deepak Fertilisers, Aries Agro Limited, Camson Bio Technologies Limited, Agrinos AS, Lonza Group, Chr. Hansen, and Bioresource International, Inc., among others.
The massive investments in the research & development by major industry players would fuel market growth, resulting in fierce competition. Several new product releases have occurred in the market as a result of substantial R&D investments. All of the major players in the agricultural enzymes market are concentrating on rising crop production, which is assisting the market's development. These demand for green solutions in developing countries, rising health awareness, and growing concerns about crop quality are projected to drive demand for agricultural enzymes. Companies are now focusing on partnerships, developing new solutions, and improving their products to gain a larger share of the market. These are the main factors driving the agricultural enzymes market in the forecast period from 2020 to 2026. However, the shelf life of agricultural enzymes and a lack of knowledge about agricultural enzymes might restrict the market's growth. In the global agricultural enzymes market, increasing acceptance of organic farming activities in developing economies, advances in agricultural sciences, and the implementation of favorable government policies are expected to create opportunities over the forecast period.
The agricultural enzymes market is bifurcated as a type, product type, crop type, and region. By type segment, the market is segmented into phosphatases, dehydrogenases, proteases, sulfatases, and others. By product type segment, the market is segmented into phosphatases, dehydrogenases proteases, sulfatases, and others. By crop type segment, the market is segmented into cereals & grains, oilseeds and pulses, fruits and vegetables, turfs and ornamentals, and others.
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In terms of geography, North America represents a higher demand for the agricultural enzymes market followed by Europe. In North America, there is a growing demand for higher-quality crop yield, which fuels the demand for agricultural enzymes. This is due to the growing healthy eating habits among people in major countries such as the United States and Canada. Furthermore, the Asia Pacific region is the most rapidly developing region in the agricultural enzymes industry. The widespread use of inoculants in major countries such as China and India is a major factor in the region's substantial agricultural enzymes market share. Furthermore, the emergence of major players is expected to boost demand even more. In emerging regions such as the Asia Pacific, the demand for agricultural enzymes is expected to have a positive outlook during the forecast period.
Regional Segment Analysis
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