Agricultural Enzymes Market Size, Share and Industry Analysis Report, Regional Outlook, Application Development Potential, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3656
Agricultural enzymes market is slated to record notable gains through 2027, driven by the growing demand for consumption of organic food. Some other pivotal factors driving the market growth are rising inclination toward agro-biologicals, substantial growth in organic farming, and surge in the production yield from limited arable land.
Agricultural enzymes are bioactive proteins that are used as a substitute to chemicals for food production and protection. They are also 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, bio processing of fiber, and processing of crop and crop residues.
Based on the type, phosphatases segment is expected to garner lucrative gains over 2021-2027 as these compounds play a vital role in augmenting soil fertility. Phosphatases are also known to be a great indicator for 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 thus drive the phosphatases segment growth across agricultural enzymes.
Agricultural enzymes market is likely to secure considerable revenue from the cereals and grains segment. They play a key role in the processing of cereal as they are deemed to improve the quality and prevent crop diseases. The enzymes added in grains and cereals boast the ability to remove bran and germs from the crop. Increased consumption of cereals across various economies would drive the 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 in the near future.
Control products across the agricultural enzymes market would observe prolific growth in the ensuing years 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.
Regionally, North America led by the United States would expand at a notable CAGR through 2027 owing to the highly evolved agricultural industry and the presence of stringent environmental regulations. Furthermore, the United States, along with Mexico, are investing heftily in technology to develop chemical-free products for the agricultural industry. Besides, an increase in 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.
Some of the leading players operating in the agricultural enzymes market are DuPont, BASF SE, Bayer AG, American Biosytems, Agrinos AS, and 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.
In 2021, BASF announced strengthening its R&D portfolio for sustainable agricultural innovations to continue supporting farmers in overcoming economic and environmental challenges. The solutions are expected to be launched throughout the next decade while supporting the company’s goal to expand its sales share of agricultural solutions.
COVID-19 impact on agricultural enzymes market share
The global agricultural enzymes market is not severely affected due to COVID-19. Despite the pandemic outbreak, the world witnessed an inclination towards organic and sustainable farming which in turn propelled the market growth. However, the initial supply disruptions worldwide had a negative influence on the market during the initial months of the year 2020.
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