Agricultural Enzymes Market: Industry Analysis and Opportunity and Forecast 2017 to 2023

Market Scenario:

Agricultural enzymes are the biological catalysts which are used instead of chemicals for food production. They are used for fertility, crop protection against various pests & diseases, and plant growth regulation. Some of the major types of enzymes used in agriculture include phosphatases, proteases, sulfatases, and others. Agricultural enzymes play a vital role in the growth of grains & cereals, oil seeds & pulses, fruits & vegetables and others. It helps in humification of plant residues and supports the rooting and sprouting process in the early development phases.

Agricultural enzymes are used to increase the agriculture productivity organically. The rising trend of organic products among the growing health-conscious population is intensifying the market for agricultural enzymes. The continuous rising population is increasing the demand for high agricultural productivity and driving the growth of global agricultural enzymes market. Increasing awareness among the farmers is adding fuel to the growth of the market.

Increasing demand for bio-fuel is likely to contribute to the growth of agricultural enzymes market. Moreover, change in farming practices and technology leading to increasing acceptance of modern farming and protected agriculture is boosting the growth of the agricultural enzymes market. However, high R&D cost associated with agricultural enzymes may hamper the growth of the market.

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Key Players:

Some of the key players profiled in the global agricultural enzymes market are Bayer Cropscience AG (Germany), Monsanto Company (U.S.), DuPont (U.S.), Syngenta AG (Switzerland), BASF (Germany), Novozymes A/S (Denmark), Koninklijke DSM N.V. (The Netherlands), Bioworks, Inc. (U.S.), AB Enzymes (Germany)

Key Findings:

Denmark, the U.S., Germany, the Netherlands, and China are the major exporters of enzymes market

Recognizing the importance of enzymes to a vibrant soil, laboratories now produce them in brewing vats for inclusion in biological fertilizers and compost activators and for direct application to the soil.

Segments:

Agricultural enzymes market is segmented on the basis of types such as phosphatases, proteases, sulfatases and others. Among all, the phosphatases are anticipated to be the fasting growing segment over the forecasted period. Phosphatases are capable of catalyzing the hydrolysis of esters and anhydrides of phosphoric acid and play a vital role in soil systems.

 Based on the function, the agricultural enzymes market is segmented into fertility, crop protection, and plant growth regulation. Among all, the fertility segment is dominating the market. However, the plant growth regulation segment is anticipated to grow substantially over the forecast period.

On the basis of application, agricultural enzymes market is segmented into grains & cereals, oil seeds & pulses, fruits & vegetables and others. Among all, the grains & cereals segment is projected to dominate the market owing to be considered as a staple food in many developing countries.

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Regional Analysis:

The global agricultural enzymes market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). North America is dominating the market followed by Europe. The U.S. and Canada are the major contributors in North America for agricultural enzymes market. Strict government regulations regarding food safety are driving the agricultural enzymes market in this region. Spain and Germany are the major contributors of agricultural enzymes in the Europe market.

Asia Pacific is expected to be the fastest growing region for agricultural enzymes market. Growing agricultural practices in India, China, Japan and Indonesia is driving the growth of agricultural enzymes in this region. In rest of the world, Brazil is anticipated to account the major share of agricultural enzymes market.

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