The elaborate report on the global agricultural enzymes market offers in-depth insights into the key drivers and restraints, current and emerging trends, share and size of various segments, recent technological advancements, major product launches, and competitive landscape. The study provides a comprehensive assessment of factors driving major segments and prominent growth avenues in major regions such as the Americas, the Europe, the Middle East, and Africa (EMEA), and Asia Pacific (APAC). It further provides an incisive analysis of strategies of key vendors to consolidate their market shares. Furthermore, the analysis covers emerging applications in the agriculture sector and assesses their scope in modern farming methods.
The global agricultural enzymes market is projected to rise at 7.36% CAGR during the forecast period of 2017-2021. The growing consumption of organic food world over and the rising demand for bio-based products in the agriculture sector in several developed and developed countries are key factors driving the agriculture enzymes market. The intensifying need among farmers for protecting crops against various insects and pests is a key factor accentuating the demand for agricultural enzymes. Furthermore, the pressing need for augmenting productivity in the agricultural industry has bolstered the demand for these enzymes. In addition, the continuing decline of arable land per person, attributed to pollution or erosion, is a crucial factor fortifying the demand for agricultural enzymes.
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The need for enhancing soil fertility to improve yield in order to feed a burgeoning population is a crucial factor bolstering the demand for agricultural enzymes. The need for decomposing agriculture waste for various industrial applications is another significant factor propelling the demand. The ability of some agricultural enzymes in solubilizing soil mineral elements is a key benefit expected to bolster their demand among farmers. The rising adoption of sustainable agricultural practices in various regions is a prominent trend likely to catalyze the growth of the agricultural enzymes market.
The advent of specialty enzymes made with a blend of microbes and bio-enhancers to facilitate the eco-friendly treatment of solid waste is a key factor anticipated to accentuate the market. The use of agricultural enzymes in facilitating the preservation of nutrients in harvest is a critical factor boosting the market.
Lack of adequate safety regulations of agriculture enzymes and quality assurance mechanism is a key factor likely to hinder the market to an extent. In addition, substantial cost of research and development of these enzymes and their protracted patent approval processes are key factors likely to negatively impact the agricultural enzymes market. Furthermore, stringent regulations on the use of biological products in manufacturing some of the agricultural enzymes is a major factor likely to hamper the development of innovative formulations in the market.
Nevertheless, the adoption of modern farming methods in various regions and the profound role enzymes play in these practices are the key factors expected to open up lucrative avenues for market players over the forecast period. In addition, agricultural enzymes have gained traction in preserving the biodiversity in various regions. The application of agriculture enzymes helps farmers in removing the bran in cereal and grain, thereby bolstering their demand. Some of the key types of agricultural enzymes are proteases, lipases, and carbohydrases, and these are majorly used for improving fertility of the soil and boosting the growth of crops.
Some of the key players operating in the agricultural enzymes market are Syngenta, Stoller USA, Novozymes, Greenmax Agro Tech, BioWorks Inc., Agrinos, Inc., Agri Life, Specialty Enzymes & Biotechnologies, The Soufflet Group, Enzymatic Deinking Technologies, and Advanced Enzyme Tech.
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