Home > Agriculture > Agricultural Enzymes Market
Agricultural Enzymes Market Size
Agricultural Enzymes Market value is slated to record notable gains over 2024-2032, driven by the increasing uptake of organic food. The rising inclination toward agro-biologicals, booming organic farming, and a surge in the production yield from limited arable land will boost the industry growth.
Additionally, stringent environmental regulations and the shift towards eco-friendly farming practices drive the demand for enzyme-based solutions as alternatives to chemical fertilizers and pesticides. The ongoing R&D initiatives focused on innovating enzyme formulations tailored to specific agricultural needs further stimulate market expansion.
Agricultural Enzymes Market Trends
The increasing emphasis on sustainable agricultural practices, escalates the demand for enzymatic solutions that enhance soil fertility, nutrient availability, and overall soil health. Moreover, there's a growing interest in enzyme formulations tailored for specific crops and environmental conditions, offering farmers targeted solutions to optimize yields while minimizing environmental impact. The advancements in enzyme production technologies, such as fermentation processes and genetic engineering, are driving innovation in the industry, enabling the development of more potent and cost-effective enzyme products.
The ongoing war crisis between Ukraine and Russia has 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.
Agriculture Enzymes Market Analysis
Based on type, the phosphatase segment is expected to garner lucrative gains over 2024-2032 as these compounds help in augmenting soil fertility. Besides, the ability to solubilize soil mineral elements by these compounds is relatively higher in biologically managed systems due to the higher quantity of organic carbon found in those systems. These factors will further drive the phosphatase segment growth.
Cereals & grains segment is likely to secure considerable revenue by 2032, as agricultural enzymes are deemed to improve the quality and prevent crop diseases. Increased consumption of cereals across various economies would drive segmental growth in the coming years. In addition, expanding urbanization is as well fueling the product demand owing to the varying lifestyles, increase in disposable incomes, food requirements, and calorie requirements.
North America agricultural enzymes industry will expand at a notable pace from 2024 to 2032, owing to the highly evolved agricultural sector and the presence of stringent environmental regulations. The United States and Mexico have been investing heavily in technology to develop chemical-free products for the agricultural sector. 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 evolving lifestyles, thus stimulating the regional industry growth.
Agricultural Enzymes Market Share
Agricultural enzymes market players include:
- DuPont
- BASF SE
- Bayer AG
- American Biosystems
- Agrinos AS
These vendors have been looking forward to securing a prominent position in the market through various strategies like acquisitions, partnerships, collaborations, product launches, facility expansion, and more.
Agricultural Enzymes Industry News
- In February 2024, AgPlenus Ltd., a subsidiary of Evogene Ltd. announced the signing of a licensing & partnership agreement with Bayer AG, a global enterprise with core competencies in the life science fields of health care and agriculture.