Global Agricultural Enzymes Market 2023-2030

Global Agricultural Enzymes Market 2023-2030

Global Agricultural EnzymesMarket Size, Share & Trends Analysis Report Market by Enzyme type(Proteases, Amylases, Lipases, Cellulases, Dehydrogenases, and Others), Crop type (Cereals and grains, Oilseeds and pulses, Fruits and vegetables, Turf and ornamentals, and Others) Forecast Period (2023-2030)

The global Agricultural Enzymes market is anticipated to grow at a considerable CAGR of 8.25% during the forecast period. Agricultural enzymes are bioactive proteins that are used in place of chemicals to produce and protect food. Organic food is produced without the use of synthetic pesticides, fertilizers, or hormones. Agricultural enzymes can be used to improve the productivity and quality of organic crops without the use of synthetic chemicals. This is driving the demand for agricultural enzymes in the organic food sector. Agricultural enzymes are proteins that can be used to break down complex molecules into simpler ones. This makes them useful for a variety of agricultural applications, including, enhancing nutrient uptake in plants, improvement in the digestibility of animal feed, improvement in the quality of food and feed, and many more.

For instance, in 2022 financial year, Novozymes discovered 9% organic sales growth. Novozymes agricultural enzymes are used by organic farmers to improve crop yields, reduce the need for pesticides and fertilizers, and improve the quality of food and feed. For example, Novozymes' proteases are used by organic farmers to break down proteins in plant and animal residues, which releases nutrients into the soil that can be used by crops. Novozymes' amylases are used by organic farmers to break down carbohydrates in crop residues, which helps to improve soil structure and fertility. And Novozymes' cellulases are used by organic farmers to break down cellulose in plant cell walls, which makes nutrients more accessible to crops.

Segmental Outlook

The global Agricultural Enzymes market is segmented based on enzyme type, and crop type. Based on enzyme type, the market is sub-segmented into proteases, amylases, lipases, cellulases, dehydrogenases, and others (phosphatases, ureases). Based on crop type, the market is sub-segmented into cereals and grains, oilseeds and pulses, fruits and vegetables, turf and ornamentals, and others (legumes, forage crops).

The Cereals and grains Segment showed a major market share for the Agricultural Enzymes market

The crop type segment showed a major hold of the market globally. In the crop type segment, the cereals and grains segment holds the largest market share in the global agricultural enzymes market. Cereals and grains are the most important crops in the world, and they are used to produce food, feed, and biofuels. The global population is growing rapidly, and this is driving the demand for food and feed. Cereals and grains are the most important crops in the world, and they are expected to continue to play a vital role in the global food system. Farmers are increasingly adopting sustainable agricultural practices to reduce the environmental impact of agriculture. Agricultural enzymes can be used to improve the efficiency of nutrient and water use in agriculture, and to reduce the use of synthetic pesticides and fertilizers.

Regional Outlook

The global Agricultural Enzymesmarket is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East & Africa and Latin America). Among these, North America has the largest market share in the entire globe. The reason for this market hold is because the region is one of the largest markets for organic food in the world. Agricultural enzymes are used to improve the productivity and quality of organic crops without the use of synthetic chemicals. This is driving the demand for agricultural enzymes in the organic food sector.

Europe to contribute the market Share in the Global Market

Europe has the second largest market share in the global market and is growing at a steady pace to have one the largest market share globally. This growth is because of the growing demand of organic food and also due to the presence of leading agricultural enzymes company.Several leading agricultural enzyme companies are headquartered in Europe, such as DSM and Chr. Hansen. These companies are investing heavily in research and development to develop new and innovative agricultural enzyme products.

Market Players Outlook

The major companies serving the global Agricultural Enzymes market include BASF SE, Corteva Agriscience, DSM, DuPont de Nemours, Inc., Novozymes among others. The market players are considerably contributing to the market growth by the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in December 2022 two Danish companies named Novozymes and Chr. Hansen announced that both the companies agreed to merge. The new group which has formed by this merger, in this the novous group has a ownership of 25.5%.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global Agricultural Enzymes market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.