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. Most commonly used agricultural enzymes include phosphatases, proteases, sulfatases and others.
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Market Forecast:
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.
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.
Downstream analysis:
On the basis of type, agricultural enzymes market is segmented into phosphatases, proteases, sulfatases, and others. Among all, the phosphatases segment is anticipated to be the fasting growing segment over the forecasted period. Phosphatases have an ability to solubilize soil mineral elements.
Based on the function, 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 projected to grow substantially over the forecast period.
Segmentation
The global agricultural enzymes market has been segmented based on type, crop type, function, and region.
By type, the global agricultural enzymes market has been bifurcated into phosphatase, proteases, dehydrogenases, dehydrogenases, and others.
Based on crop type, the global agricultural enzymes market has been classified as cereals & grains, oilseeds & pulses, fruits & vegetables, and others.
By function, the global agricultural enzymes market has been categorized as soil fertility and growth promotors.
The global agricultural enzymes market has been studied with regards to four key regions—North America, Europe, Asia-Pacific, and the rest of the world.
Source: Secondary Sources and MRFR Analysis
North America is expected to dominate the market for agricultural enzymes during the forecast period. Increasing demand for organic products in the region and thus, the adoption of organic and precision farming practices in the area has increased the demand for agricultural enzymes. Asia-Pacific is projected to register the highest CAGR during the forecast period owing to the increasing awareness among the farmers regarding the benefits of using agricultural enzymes during farming practices.
Key Players
- 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)