Global Agricultural Enzymes Market

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 News

  • 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.
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FAQs

Global agricultural 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 global agricultural enzymes market. 

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).

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. '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.'

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.

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.

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.

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