Product ID: SQMIG15C2070
Global Agricultural Enzymes Market Size, Share, Growth Analysis, By Product Type(Fertility Products, Growth Enhancing Products), By Crop Type(Cereals & Grains, Oilseeds & Pulses) - Industry Forecast 2024-2031
Report ID:
SQMIG15C2070 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|
Tables:
65 |
Figures:
75
Global Agricultural Enzymes Market Insights
Global Agricultural Enzymes Market size was valued at USD 284.48 million in 2019 and is poised to grow from USD 312.36 million in 2023 to USD 724.56 million by 2031, growing at a CAGR of 9.8% 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 Segmental Analysis
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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Global Agricultural Enzymes Market Regional Insights
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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Global Agricultural Enzymes Market Dynamics
Agricultural Enzymes Market Driver
- 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 the worldwide agricultural enzymes market. Agriculture enzymes are being produced using cutting-edge technology that conserve energy and water. Manufacturers like Novozymes A/S and Monsato have joined together to create and market microbial solutions that potentially increase agricultural output through the BioAg Alliance. The naturally occurring bacteria and fungi that make up the biological products produced by this alliance.
- It is predicted that the use of bio-based chemicals in place of harsh chemicals will create significant growth prospects in the global market. Spending on organic goods has increased as a result of emerging economies' growing disposable income.
- The rapid population growth, increased demand for chemical-free goods, and the rise in the need for food security are some of the major factors driving the growth of the market. Agriculture enzymes are being produced using cutting-edge technologies that conserve energy and water. Manufacturers like Novozymes A/S and Monsato have joined forces to create and market microbial solutions that can increase crop yield through the BioAg Alliance. This alliance produces biological products made from naturally occurring microbes like bacteria and fungi.
Agricultural Enzymes Market Restraint
- There are several limitations and difficulties that will impede the expansion of the market as a whole. The market growth is being restrained by factors like strict government regulations in the biological goods sector. Farmers' reluctance to use products made from microbes, high R&D costs, and the protracted process for patent approval are other potential hindrances to the overall growth of the worldwide agricultural enzymes market.
- In nations like the U.S. and Canada, government regulations for the production of agricultural enzymes are extremely strict. The manufacture of the specific product may be halted, according to the U.S. Food and Drug Administration (USFDA), if the identified biological product problem is not resolved within a given time frame. This would limit market expansion in the future.
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Global Agricultural Enzymes Market Competitive Landscape
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
- BASF SE
- Novozymes A/S
- Syngenta AG (a part of ChemChina)
- E. I. du Pont de Nemours and Company (a part of DowDuPont Inc.)
- Koninklijke DSM N.V.
- Bayer AG
- Aries Agro Limited
- Stoller USA, Inc. (a part of Compass Minerals International, Inc.)
- Bioworks, Inc.
- Amano Enzyme Inc.
- Agrinos AS
- Creative Enzymes
- Enzyme Development Corporation
- Greenmax Agro Tech
- American Biosystems, Inc.
- Enzymatic Deinking Technologies, LLC
- Specialty Enzymes & Biotechnologies Co.
- Novanat Bioresources Inc.
- Camson Bio Technologies Limited
- Agrichem Bioengineering Co., Ltd.
Agricultural Enzymes Market Recent Developments
- In July 2022, Researchers at IIT Madras have figured out a bacterium that can turn agricultural waste into industrial enzymes through a cost-effective and environment-friendly process.
- In 2021, Elemental Enzymes, a life sciences firm creating cutting-edge biotechnology and enzyme solutions, collaborated with Corteva Agrisciences. A new bio fungicide for a variety of row crops, including soybeans, cereals, corn, oilseeds, rice, and sugarcane, as well as turf and ornamental uses, was added to the firms' multi-year global agreement.
Global Agricultural Enzymes Key Market Trends
- The agricultural enzymes market is projected to experience strong expansion as a result of the numerous revolutionary approaches being implemented throughout the farming industry to satisfy the rising demand for organic food among a sizeable portion of the global population. All of these factors indicate that the worldwide market will continue to expand.
- The agricultural enzymes industry is seeing significant growth due to farmers' increasing awareness of organic farming methods. Additionally, the increased environmental awareness that has resulted in the installation of strict regulations regulating the use of chemical fertilizers is projected to support the agricultural enzymes market's growth trajectory.
Global Agricultural Enzymes Market SkyQuest Analysis
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 2023 | USD 284.48 million |
| Market size value in 2031 | USD 724.56 million |
| Growth Rate | 9.8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| 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 |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Agricultural Enzymes Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Agricultural Enzymes Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global 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 Global 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.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Agricultural Enzymes Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global 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.
Global Agricultural Enzymes Market Report Snapshots
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