Amid the COVID-19 crisis, Global Agricultural Enzymes Market to Reach USD 564 million by 2028.
Enzymes are biological catalysts, usually proteins, that speed up chemical reactions. Agricultural Enzymes act as a catalyst, unblocking nutrients in the soil and making them available to plant roots. These enzymes are used to replace the chemicals that are used in food production and protection. In the absence of an agricultural enzyme, these nutrients would have remained bound to the soil and unavailable to the plants. Increased plant yield and quality are facilitated by the inclusion of agricultural enzymes in the feed.
The growing popularity of organic foods is energizing the global agricultural enzymes industry. Furthermore, as a result of the use of chemicals in agriculture, consumers' tastes and preferences for organic fruits and vegetables are changing, which will support the growth of the Global Agricultural Enzymes Market. The report on this title provides an in-depth examination of key segments, trends, drivers, restraints, the competitive landscape, and factors that are important in the market.
Agricultural enzymes are biological catalysts that are widely used in biotechnological processing, such as fiber bio-processing, crop & crop residue processing, enzyme-assisted silage fermentation, and the production of many animal feed supplements. Oilseeds, pulses, fruits and vegetables, grains, and cereals all require enzymes to grow. Agricultural Enzymes have grown in popularity as they improve the quality of the end product. They improve crop fertility and protect crops from pests and diseases and are widely used in agriculture owing to their use results in increased crop production. It aids in the humification of plant residues and promotes rooting and sprouting in the early stages of development. Agricultural enzymes are widely used because they aid in the fight against land degradation, climate change, and food insecurity. The development of agricultural enzyme technology has increased both the manufacturing capacity and the application of agricultural enzymes, such as the invention of phytases and silage fermentation. There are certain constraints and challenges that will impede the overall market growth. Stringent government policies in the biological products industry are limiting the market growth. Farmer’s reluctance to adopt microbe-derived products, as well as high R&D costs and lengthy patent approval processes, are potential restraints to the Global Agricultural Enzymes Market's overall growth. Nonetheless, the adoption of modern farming practices to reduce costs, future demand for soil enzymes due to soil pollution, and untapped potential in emerging markets all present opportunities for growth.
The rising inclination towards organic food and organic farming is the key factor intensifying market growth. Due to substantial growth in fertilizer prices, farmers have started switching to using agricultural biologicals such as biopesticides, biofertilizers, and bio-enzymes. Moreover, the growing need for bio-fuels along with new farming procedures, cost-efficiency, and higher investment in research and development will boost the market of global agricultural enzymes. Additionally, organic food such as apple, banana, and strawberries consist of medical benefits such as enhancement of immunity, preventing cancer, and reducing inflammation. These factors are projected to drive the demand for agricultural enzymes over the forecast period. Furthermore, the increase in health consciousness among consumers owing to the use of chemicals in agriculture is altering the taste and preferences towards organic fruits and vegetables will bolster the growth of the Global Agricultural Enzymes Market. Geographically, the global agricultural enzymes market is divided into North America, Europe, Asia Pacific, and the Rest of the World. North America has the largest market share due to several factors such as soil type, established economy, and agricultural technological advancement. The U.S. is investing heavily in technology to develop chemical-free agricultural products. The growing acceptance of genetically modified (GM) seeds by farmers, as well as ongoing projects, will drive the market in this region forward.