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Agricultural Enzymes Market : Global Demand Analysis & Opportunity Outlook 2023

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Extensive insights into the Growth of Agricultural Enzymes Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Global Agricultural Enzymes Market Overview

Agricultural enzymes are the biological catalysts that are used extensively in agricultural based biotechnological processing, such as enzyme-assisted silage fermentation, processing of crops and crop residues, bio-processing of fibers, and production of many animal feed supplements. The agricultural enzyme market is growing due to high investments in bio-technology sector, increasing global population and increase in production yield from the land that can be used for cultivation. Agricultural enzyme are increasingly being used due their property of gene shuffling and direct evolution, which even makes them suitable for the purpose of customer based applications.

Market Size and Forecast

The global agricultural enzymes market was valued at USD 5.0 billion in 2015 and is expected to expand at a rate of CAGR 6% between 2016 and 2023.North America dominated the global agricultural enzymes market in 2015 in terms of revenue followed by it Europe stood at second position in the same year. North America will continue to dominate the market during the forecast period due to the increased awareness of organic farming and growing agricultural industry.CLICK TO DOWNLOAD FREE SAMPLE REPORT

Fig: Global Agricultural Enzyme Market by Region, 2016

Agricultural Enzymes Market Graph

Source: Research Nester

Apart from this, rising number of farmers and reduced chemical usage in the growing of crops is expected to be major factor for North America agricultural enzymes market growth. Asia Pacific is currently at a nascent stage and is anticipated to come-up as a new market for enzyme due to the government incentives which include exemption on agricultural tax to those companies that are producing organic farm products.

Market Segmentation

Our in-depth analysis segmented the Global Agricultural Enzymes market includes:

By Type

  • Nucleases
  • Carbohydrases
  • Proteases
  • Polymerases
  • Lipases

By Crop Type covered

  • Oilseeds and Pulses
  • Fruits and Vegetables
  • Cereals & Grains
  • Other Crop Types

By Application

  • Growth enhancing
  • Control
  • Fertility

Global Agricultural Enzyme Market can further be classified on the following bases:

By Region:

  • North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Growth Drivers and Challenges

The industry across the globe is witnessing the growth in enzymes market due to the modern farming practices and the demand for high quality agricultural products. Moreover, the agricultural enzymes are also used to reduce the wastage, thus propelling the global enzyme market. The trend towards sustainable industrial development with less waste and less carbon dioxide (CO2), rising demand for chemicals, and emerging advanced technologies is escalating the growth of agricultural enzymes market all across the globe. Furthermore, the growing demand of processed food, rising demand for renewable energy sources such as bio-fuel has pushed the enzymes market to a global level. The cheap production method coupled with the new and diverse applications such as phytases usage for efficiency improvement are expected to increase the global enzymes market in the next few years. However, on the other hand, the enzyme safety and quality assurance regulations are expected to hinder agricultural enzymes market growth.

Key Players

The key players of the Global Agricultural Enzymes market are as follows:

  • Camson Bio Technologies Ltd
    •  Company Overview
    • Key Product Offerings
    • Business Strategy
    • SWOT Analysis
    • Financials
  • Deepak Fertilizers and Petrochemicals Corporation Limited (DFPCL)
  • Adisseo France S.A.S
  • Novozymes A/S
  • Soufflet Group
  • Greenmax Agro Tech
  • BioResource International, Inc. (BRI)
  • Agrinos Inc.
  • Hayashibara Co., Ltd.
  • Verenium Corporation
  • Asahi Kasei Pharma
  • Stoller Usa Inc.
  •  Agri Life
  • Syngenta Ag
  • Bioworks Inc.
  • Aries Agro Ltd.
  • Enzymatic Deinking Technologies
  • MP Biomedicals
  • Verenium
  • New England Biolabs
  • Specialty Enzymes & Biotechnologies

 


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