Market Overview and Growth Factors:
Agricultural enzymes are the necessary bioactive proteins in preserving soil health and its environment. When agricultural enzymes are applied to the soil, billions of chemical reactions begin to take place immediately. In the process they detoxify soils that have been poisoned by excessive applications of chemical fertilizers, herbicides, and pesticides, neutralize both acid and alkaline soils, loosen heavy clay soils, and even penetrate hardpan.
Growing acceptance of modern farming is adding fuel to the growth of agricultural enzymes market. Owing to improving the efficiency of agricultural enzymes, major players are investing in research and development which is further boosting the growth of global agricultural enzymes market. Cost efficiency is another driver driving the growth of the market. However, the uncertain regulatory environment may hamper the growth of the market. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 7.2% of agricultural enzymes market during the forecast period 2017-2023. Most commonly used agricultural enzymes include phosphatases, proteases, sulfatases and others. Agricultural enzymes help in improving fertility, crop protection, and plant growth regulation. Increasing population and growing demand for food have led to high agricultural productivity which is driving the growth of the agricultural enzymes market. Moreover, rising demand for natural and organic food followed by increasing awareness towards hazardous properties of pesticides and other chemicals used in agricultural have raised the demand for agricultural enzymes over past few years.
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Top 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).
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.
Agricultural enzymes manufacturers
Traders, importers, and exporters
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.
The global agricultural enzymes market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). North America is accounted to hold the highest share of agricultural enzymes. Europe is estimated to have a moderate expansion in the market share of agricultural enzymes over the estimated period.
Asia Pacific is witnessed to be the fastest growing region in agricultural enzymes market. India and China which are two of the largest countries in terms of population are majorly contributing to the growth of agricultural enzymes in this region. Latin America is anticipated to gain a moderate growth rate over the estimated period.
Table of Content:
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.1.1 Initial Data Exploration
1.1.2 Statistical Modelling and Forecast
1.1.3 Industry Insights and Validation
1.2. Data Sources
Chapter 2. Executive Summary
2.1. Agricultural Enzymes Industry Market Synopsis, 2017-2023
2.1.1 Business Trends
2.1.2 Product Type Trends
2.1.3 Product Function Trends
2.1.4 Product Application Trends
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Chapter 3 Agricultural Enzymes Market Industry Insights
3.1 Industry Segmentation
3.2 Industry Size and Forecast
3.3 Industry Ecosystem Analysis
3.4 Industry Impact Forces
3.4.1 Growth Drivers
220.127.116.11 Increasing Demand for Organic Food
18.104.22.168 Adoption of Modern Farming Practices and Sustainability
3.4.2 Industry Pitfalls & Challenges
22.214.171.124 Regulatory Constraints and Enzyme Safety
126.96.36.199 High R&D Cost
3.5 Growth Potential Analysis
3.6 Company Market Share Analysis, 2016
3.7 Porter’s Analysis
3.8 PESTEL Analysis