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Agricultural Enzymes Market Projected to Discern Stable Expansion to 2020
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Growing demand of processed food, rising demand of renewable energy sources such as bio-fuel, coupled with cost-efficiency of agricultural enzymes has helped in its wide acceptance in agricultural sector.
Based on the various crop types the global enzymes market can be broadly categorized as cereals & grains, oilseeds & pulses, fruits & vegetables and others. On the basis of the various chemical properties of the enzymes the global agricultural enzyme market can be segmented in five broad categories namely, carbohydrates, proteases, lipases, polymerases & nucleases and others
Growing demand of natural and organic food, coupled with rising awareness towards hazardous properties of pesticides and other chemicals used in agricultural have raised the demand of green and naturally sourced agrochemicals over the years. Moreover rising government concern over food and environment safety in the Asia Pacific and Latin America has led to many stringent regulations, such as integrated pest management (IPM). Such regulations are forcing the farmers of this region to adopt bio-based chemicals in place of their conventional chemical counterparts. This trend is expected to increase the demand of agricultural enzymes in coming years.
North America is the largest market of agricultural enzyme attributed to growing agriculture industry and rising awareness towards organic forming. It is followed by Asia Pacific and Europe. Asia Pacific is the fasted growing market of agricultural enzymes where growth rate is expected in double digit attributed mainly to government initiatives towards integrated pest management (IPM) and increasing acceptance of genetically modified (GM) seeds by the farmers in this region.
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Some of the leading global players operating in global agricultural enzymes market include, Novozymes A/S, Agrinos Inc., Agri Life., Stoller Usa Inc., Bioworks Inc., Syngenta Ag, Aries Agro Ltd., Greenmax Agro Tech., and Camson Bio Technologies Limited.
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