Agricultural enzyme market is driven by the global rise in biochemical poisoning instances, which is raising more and more health concerns. The rapid population expansion, and the rise in the requirement for food security also supporting growth in developing economies. North America is anticipated to remain one of the most appealing markets throughout the projection period, and this region accounts for the majority revenue share in the market.
Newark, Nov. 24, 2022 (GLOBE NEWSWIRE) — The agricultural enzymes market was estimated at around USD 386 million in 2021, growing at a CAGR of nearly 9% during 2022-2030. The market is projected to reach approximately USD 835 million by 2030.
Bioactive proteins called agricultural enzymes are employed to produce and protect food instead of chemicals. In addition, they protect crops from different diseases and pests and improve agricultural fertility. These elements increase the productivity and growth of crops. Furthermore, market growth will be fueled in the future by the expanding disposable income and population in developing nations. In the farming industry, agricultural enzymes have been widely accepted. The demand for organic food is rising, biological agricultural goods are becoming more popular, and major players are investing more in R&D and market strategies. These reasons are all propelling the market for agriculture enzymes. Additionally, the rapid population growth, advances in farming technology, and rising consumer demand for chemical-free goods are all contributing to the increased need for food safety worldwide. Other reasons influencing the global rise in the demand for food safety include the rising propensity for agro-biologicals, a sizable increase in organic farming, and the rise in production yield from limited arable land. As a result, by 2030, the agricultural enzyme market will experience significant growth.
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The primary driver of market expansion is consumers’ increasing preference for organic food and farming. Farmers have begun adopting agricultural biologicals including biopesticides, biofertilizers, and bio-enzymes in place of traditional fertilizers due to the sharp increase in fertilizer prices. Additionally, new farming techniques, cost-effectiveness, and increased investment in R&D will all contribute to the growth of the worldwide agricultural enzymes market. Additionally, organic foods like apples, bananas, and strawberries provide health advantages like boosting immunity, lowering inflammation, and preventing cancer. Over the forecast period, it is anticipated that these factors will fuel demand for agricultural enzymes. A further developed as well as developing the growth of the global agricultural enzymes market is the rise in health consciousness among consumers brought on by the use of chemicals in agriculture, which is changing customer preferences for and tastes for organic fruits and vegetables.
With the demand for organic food rising globally and people becoming more conscious of the risks of pesticides, there has been an increase in the requirement for agricultural enzymes throughout time. Using organic agricultural enzymes, it is feasible to create inspected, superior, and risk-free food. As a result, it delivers significant economic and environmental advantages and preserves a healthy ecology. The global rise in cases of biochemical poisoning, which is developing more and more health concerns, is another important driver propelling the market for agricultural enzymes. It functions as a substitute for the driver in organic cuisine. Consumers are becoming more health concerned as a result of the hazardous effects of chemical pesticides that are present in food goods. The presence of chemical pesticides in food products raises the risk of hormone disruption, cancer, and congenital defects. The growing awareness of consumers over the usage of pesticides and fertilizers in farm-grown vegetables has led to an increase in the popularity of organic food products. Enzymes have characteristics that make it possible for them to work in conditions with minimal water, at low pH levels, and low temperatures. Enzymes are a favored option in organic and sustainable farming due to their biodegradability.
The market for agricultural enzymes market is segmented into the crop type, type, and product type. According to the crop type, the cereals and grains segment is expected to increase at the quickest rate. In the Asia-Pacific area, where a large amount of the world’s population lives, rice is the most common staple food. Following maize in terms of global grain production, rice comes in second. Urbanization, changing lifestyles, rising income, and calorie requirements are just a few of the factors that have an impact on the demand for cereals and grains. Agricultural enzymes are used to boost production for the majority of cereal crops while enriching the soil and fostering plant growth. As cereals are cultivated in the majority of countries, it is expected that the demand for grains and cereals would rise globally.
The fertility products segment is anticipated to hold major share in the agricultural enzymes market by product type during the forecast period. The consumption of enzymes to increase soil fertility is rising as a result of the major problem that declining soil fertility has become in recent years. Enzymes that improve soil fertility are essential for boosting soil fertility and improving crops’ ability to respond.
Products that promote growth are anticipated to expand. These substances provide advantages when applied to crops, such as proper flowering and better cell division, which encourage healthy plant growth. These elements should support segment expansion.
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The biggest market share of the total market was held by the North America in the agricultural enzymes market. Growing urbanization is one of the factors driving the market for agricultural enzymes in the area. Additionally, the region’s need for agricultural enzymes is anticipated to increase due to the usage of diverse methodologies at R&D centers for enzyme development. Various government agencies also implemented strict controls due to growing worries about the safety of the environment and food. The farmers are being forced by these rules to employ biological enzymes rather than chemical pesticides, fertilizers, and other items, which is helping the market for agricultural enzymes in the area.
Due to the presence of developing economies like India and China, the Asia Pacific area is the one that is expanding at the highest rate. Due to its significant investments in agriculture, China is anticipated to be the largest market over the projection period. China has experienced the greatest increase in agricultural land globally during the past few years. The country is making major investments in chemical-free goods used in agriculture. The area is anticipated to expand.
Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Agricultural Enzymes Market CAGR
By Crop Type
List of the prominent players in the Global Agricultural enzymes market:
• BASF SE
• Creative Enzyme
• Enzyme India Pvt. Ltd.
• Novozymes A/S
• Syngenta Crop Protection AG
• Cypher Environmental LTD
• Afrizymes (Pty) Ltd.
• Specialty Enzymes & Biotechnologies
• Advanced Enzyme Technologies
• American Biosystems
The global Agricultural enzymes market is segmented as follows:
By Crop Type
• Grains and Cereals
• Pulses and Oilseeds
• Vegetables and Fruits
• Ornamentals and Turfs
By Product Type
• Growth Enhancing Products
• Control Products
• Fertility Products
• North America
o The U.S.
o The UK
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
• The Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of the Middle East & Africa
• Latin America
o Rest of Latin America
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