Report ID: SQMIG15C2070
Report ID:
SQMIG15C2070 |
Region:
Global |
Published Date: July, 2036
Pages:
242
|Tables:
65
|Figures:
75
Global Agricultural Enzymes Market size was valued at USD 492.02 million in 2022 and is poised to grow from USD 536.30 million in 2023 to USD 1068.61 million by 2031, growing at a CAGR of 9% in the forecast period (2024-2031).
The first stages of seed growth, such as germination and rooting, depend on the breakdown of plant leftovers and other organic matter by agricultural enzymes. The ability of the crop to ingest nutrients and withstand water stress has been enhanced.
A growing number of people are using agricultural enzymes because they improve the quality of the finished product. It stimulates the roots and sprouting processes in the early stages of development and helps humify plant wastes. This has influenced the market for agricultural enzymes and increased its overall strength during the past few years. The market will experience faster expansion over the next few years.
By making more nutrients available to plants and promoting plant development, agricultural enzymes are employed to increase production capacity. The main drivers fueling the need for agricultural enzymes are the rising population, the rising need for food security, and the rising desire for organic products.
Phosphatases, dehydrogenases, and sulfatases are a few of the key enzyme kinds that are utilised for soil fertility and crop growth. Over the course of the forecast period, the phosphatase enzyme market is anticipated to expand at the fastest rate.
US Agricultural Enzymes Market is poised to grow at a sustainable CAGR for the next forecast year.
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Global agricultural enzymes market is segmented based on the product type, crop type, and region. Based on the product type, the global agricultural enzymes market is segmented as fertility products, growth enhancing products, control products and others. Based on crop type, the global agricultural enzymes market is segmented as cereals & grains, oilseeds & pulses, turf & ornamentals, and others. Based on region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Agricultural Enzymes Market Analysis by Product Type
Based on the product, over the forecast period, the fertility products segment is anticipated to expand at a CAGR of 12.4%. The main source of nutrients for plants is the soil, which also aids in biological processes and protects both plants and groundwater. The main measure of soil fertility is its ability to react to weather variations, industrial waste, and agricultural chemicals.
Products that promote growth are likely to expand at a predicted CAGR of 11.7% between 2017 and 2025. When these compounds are applied to crops, they have benefits including appropriate flowering and improved cell division, which support healthy plant growth. These elements will support segment expansion.
Crop losses caused by rats and other pests are a concern for farmers all over the world. Control chemicals are useful in minimising this damage since they stop pests in crops from growing and migrating. Global crop production has been hampered by a reduction in agricultural land.
Control solutions help boost agricultural output and reduce losses brought on by pests.
Agricultural Enzymes Market Analysis by Crop Type
The global agricultural enzymes market has been segmented on the basis of crop type as cereals & grains, oilseeds & pulses, turf & ornamentals, and others.
The industry for agricultural enzymes is predicted to be driven by the cereals and grains that are grown in almost all nations. Since they enhance quality and prevent crop diseases, enzymes are crucial to the production of cereals. Applying enzymes to grains and cereals allows for the extraction of bran and germ from the crop.
The use of chemicals in agriculture is changing consumer perceptions of health, which is changing consumer preferences for organic fruits and vegetables. The use of pesticides in crop production harms living things and wreaks havoc on the environment. There are numerous government regulations that control the sales and use of pesticides with the goal of enhancing the agricultural sector.
Fruits and vegetables like apples, bananas, and strawberries have medicinal advantages like boosting the immune system, preventing cancer, and reducing inflammation. Oilseed and pulse production is anticipated to increase as demand for biofuel and vegetable oil rises. Consumption of oilseeds in cotton, rapeseed, and palm kernel seeds is also anticipated to propel segment growth.
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North America held the largest share of the agricultural enzymes market. Due to the region's use of advanced farming methods, awareness of agricultural biotechnology, and growing environmental concerns. In North America, farmers continue to grow healthier crops with larger yields thanks to the role that enzymes play in the process. The North American agricultural enzymes industry is dominated by well-known companies including Monsanto Company (US), Stoller USA Inc. (US), BioWorks, Inc. (US), and E. I. du Pont de Nemours and Company (US). The US has strict laws and regulations in place and is heavily involved in the agricultural sector. The United States Department of Agriculture claims that specific regulations have been established for the importing of products made by microbes.
As farmers become more aware of the advantages of employing agricultural enzymes during farming activities, Asia-Pacific is anticipated to see the greatest CAGR during the forecast period.
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Agricultural Enzymes Market Driver
Agricultural Enzymes Market Restraint
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Global agricultural enzymes market is relatively consolidated, with major players which are occupying nearly 40% of overall market. The existence of industry players using different competing strategies to increase market share defines the global industry. Businesses have created new microbial agricultural products that are used to produce crops in a sustainable manner. Manufacturers like Novozymes and Monsanto founded the BioAg Alliance to create and market microbial treatments that potentially boost agricultural output. The cooperation is advantageous for consumers, the environment, and agriculture.
Top Players in the Global Agricultural Enzyme Market
Agricultural Enzymes Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global agricultural enzymes market analysis, in terms of crop type, as cereals and grains, oilseeds and pulses, fruits and vegetables, and turf and ornamentals. Among these, cereals and grains segment held the largest market share. Also, a significant market segment is fruits and vegetables, which is a result of customers' increasing preference for organic food. Foods cultivated organically, such bananas, apples, strawberries, potatoes, and cabbage, provide health benefits that boost immunity.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 492.02 million |
Market size value in 2031 | USD 1068.61 million |
Growth Rate | 9% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Million |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Agricultural Enzymes Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Agricultural Enzymes Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Agricultural Enzymes Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Agricultural Enzymes Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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REQUEST FREE CUSTOMIZATIONagricultural enzymes market was valued at USD 0.429 billion in 2021, and it is expected to reach a value of USD 0.909 billion by 2028, at a CAGR of more than 11.3% over the forecast period (2022–2028).
The rapid population expansion, increased demand for chemical-free goods, and the rise in the requirement for food security are some of the major drivers driving the growth of agricultural enzymes market.
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Report ID: SQMIG15C2070