Agricultural Enzymes Market Size is Projected To Reach USD 1.15 Billion By 2027 | Reports and Data

Agricultural Enzymes Market
Agricultural Enzymes Market

The Agricultural Enzymes Market is projected to reach USD 1.15 billion by 2027. The sector is expected to be powered by increasing food security needs due to rapid population growth, developments in farming technology, and increased demand for chemical-free goods. Companies are developing advanced techniques for storing water and energy-saving agricultural enzymes.

The rising trend in organic farming and increased demand for organic food play a critical role in raising demand for agricultural enzymes from the consumers. Another factor expected to fuel the development of the global market for agricultural enzymes is the increase in production yield patterns in the urban area.

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Key participants include Novozymes A/S, Syngenta AG, BASF SE, Agrinos as, Stoller USA Inc., Bioworks, Inc., Agri Life, Bayer Cropscience AG, Monsanto Company, Koninklijke DSM N.V., E. I. Du Pont De Nemours and Company, AB Enzymes, Deepak Fertilisers and Petrochemicals Corporation Limited, Aries Agro Limited and Camson Bio Technologies Limited, among others.

The development of organic verticals throughout the industry is fast catching on with humans, and the agricultural players aren’t far away. As the millennial customer asks for the healthiest choices to be presented, that also has minimal impact on the environment. The demand for organic catalysts is high and adds massively to global market growth. It also leads to growth as a consideration, as the ability to increase the yield in a given area is finite due to the lack of land available.

Market Overview:

The chemicals and materials industry has been steadily growing as this is the industry that can be said to be shaping every other industry. The chemical and materials industry is growing due to the introduction of new products and technologies, increasing environmental consciousness, and changing customer preferences. In recent years, economic growth and the growth of ancillary industries in emerging economies have been critical to the chemical and materials industry’s growth.

A new trend has emerged: the production of bio-based and renewable chemicals. These products are likely to solve chemical industry-related environmental concerns. Environmental sustainability, social responsibility, and economic development are the requirements that the industry must meet in order to overcome long-term growth challenges.

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Further key findings from the report suggest

  • The primary growth of the market comes from the usage of agricultural enzymes in the soil that are used as the soil fertility indicator, owing to their resilience and quick action to soil control than the soil variables.
  • The growth of the global market for agricultural enzymes propelled by main factors such as increasing food security needs due to rapid population growth, developments in farming technology, and growing demand for chemical-free goods. Companies are designing cutting-edge technologies for processing agricultural enzymes that conserve water and energy.
  • In recent years, all of the major market players have invested heavily in R&D initiatives, contributing to the invention of several innovative products. Major players aim to enhance their product portfolio by strategic mergers and acquisitions of small and medium-scale companies. In the coming years, therefore, an intense rivalry among players is expected.
  • In January 2017, Monsanto collaborated with Novozymes A/S (Denmark) to create the BioAg Partnership. This coalition produced a new drug called the Acceleron B-300 SAT that improves and enhances plant nutrient absorption.
  • In March 2019, Kemin Industries entered into a strategic collaboration with the partnering China-based company CRVAB Bio-Technology Ltd to expand its production globally through the technological exchange of fermentation and production capacities.

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For the purpose of this study, Reports and Data have segmented the agricultural enzymes market on the basis of enzyme type, crop type, application, and region:

Enzyme Type Outlook (Revenue, USD Billion; 2017-2027)

  • Phosphatases
  • Dehydrogenases
  • Sulfatases
  • Proteases
  • Lipases
  • Polymerases

Crop Type Outlook (Revenue, USD Billion; 2017-2027)

  • Cereals and Grains
  • Oilseeds and Pulses
  • Fruits and Vegetables
  • Turf and Ornamentals
  • Others

Application Outlook (Revenue, USD Billion; 2017-2027)

  • Crop Fertility
  • Crop Growth Enhancing
  • Crop Control
  • Others

Regional Outlook (Revenue, USD Billion; 2017-2027)

  • North America
  • Europe
  • Asia Pacific
  • MEA
  • Latin America

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