Agricultural Enzymes Market value is slated to record notable gains through 2032, driven by the increasing consumption and uptake of organic food. Some other pivotal factors driving the market expansion are a rising inclination toward agro-biologicals, substantial growth in organic farming, and a surge in the production yield from limited arable land.
Agricultural enzymes are bioactive proteins used as a substitute for chemicals for food production and protection. They are also extensively utilized for crop fertility and protection against different pests and diseases. Moreover, the compounds are extensively being used in agriculture-based biological procedures like silage fermentation, bioprocessing of fiber, and processing of crop and crop residues.
The ongoing war crisis between Ukraine and Russia undermined the former's capability to harvest and export crops. Ukraine is one of the prominent producers and exporters of sunflower seeds, rapeseed, wheat, maize, and vegetable oil, the disrupted agricultural operations in the country limited the sales of essential agricultural supplies. This, in turn, has a diminishing impact on the agricultural enzymes market. The reduction of agricultural exports from Ukraine and Russia, coupled with the inflating fertilizers and energy costs, have aggravated international food prices, which may downsize organic food sales, thus, impacting market performance.
Based on the type, the phosphatase segment is expected to garner lucrative gains over 2023-2032 as these compounds play a vital role in augmenting soil fertility. Phosphatases are also known to be a great indicator of phosphorous deficiency in the soil. Besides, the ability to solubilize soil mineral elements by these compounds is anticipated to be relatively higher in biologically managed systems due to the higher quantity of organic carbon found in those systems. The aforementioned factors will therefore drive the phosphatase segment growth across agricultural enzymes.
The agricultural enzymes market is likely to secure considerable revenue from the cereals and grains segment. They play a key role in cereal processing as they are deemed to improve the quality and prevent crop diseases. The enzymes added in grains and cereals boost the ability to remove bran and germs from the crop. Increased consumption of cereals across various economies would drive segmental growth in the coming years. In addition, expanding urbanization is as well fueling the demand for cereal and grains owing to the varying lifestyles, increase in disposable incomes, food requirements, and calorie requirements. As cereals are cultivated in most countries, the overall demand for agricultural enzymes is slated to grow incredibly between 2023 and 2032.
Control products across the agricultural enzymes market growth through 2032 as these are helpful in reducing the damage caused by rodents and pests by inhibiting the movement of pests in fields. Moreover, the products also aid in enhancing crop productivity and decreasing losses caused due to pests, which will favor market growth in the forthcoming years.
North America agricultural enzymes market led by the United States, would expand at a notable CAGR from 2023 to 2032, owing to the highly evolved agricultural industry and the presence of stringent environmental regulations. Furthermore, the United States and Mexico have been investing heftily in technology to develop chemical-free products for the agricultural sector in the region. Besides, rapid urbanization would further boost the demand for agricultural enzymes driven by the improving calorie requirements, change in food habits, rise in disposable incomes, and different lifestyles.
Agricultural enzymes market key players include DuPont, BASF SE, Bayer AG, American Biosystems, and Agrinos AS, among others. These vendors have been looking forward to securing a prominent position in the global market through various strategic practices like acquisitions, partnerships, collaborations, product launches, facility expansion, and more.