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  • Agricultural Enzymes Market, Size, Share, Outlook and Growth Opportunities 2019-2026

     



    (I-SoftwareNews.Com, March 30, 2020 ) Market Overview
    • Global Agricultural Enzymes Market is expected to grow at a CAGR of 11.1% during the forecast period (2019-2026)
    • Enzymes are biological products that affect plant health and have a pivotal role in overall agricultural practices. Agricultural enzymes are biological catalysts used for fastening the chemical reaction that releases nutrients in the soil to the roots in minimum time. Agricultural enzymes have the inherent property of detoxifying the soils that have processed with chemical fertilizers, herbicides, and pesticides. It also neutralizes both acid and alkaline soils and loosens heavy clay soils. In addition to crop production activities, agricultural enzymes are also used in Animal nutrition as a natural growth promoter through minimal feed consumption.

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    Market Dynamics
    • Growing demand for agricultural production owing to rising population and changing consumer dietary habits is forcing the farmers and crop growers across the globe to increase productivity. According to the statistics of the Food and Agriculture Organization (FAO), the global population is likely to reach 10 billion by 2050 and would result in a growth of over 50% in agricultural demand as compared with 2018. Enzymes are an essential tool in the armory of farmers and crop growers in meeting growing demand in a sustainable way. A recent study conducted by the Plant Scientists at Lancaster University in 2016 stated that incorporation of enzymes into farmed land boost photosynthesis in crops by 20% under some specific field conditions, which can, in turn, decrease the yield time of the output. Moreover, loss of nutrients in the soil due to erosion and extensive use of fertilizers is also motivating farmers towards supplementation of farmland with enzymes. The consumption of enzymes as soil nutrient enhancers is also witnessing a significant rise with the rising practice of organic farming by commercial farmers in developed nations through green-house farms is expected to boost the market for agricultural enzymes globally. According to a study published in the Ontario Ministry of Agriculture, Food, and Rural Affairs in 2018, the annual establishments of the greenhouse industry in Ontario and Canada increased from 36.401 million Sq.m in 2016 to 37.388 million Sq.m in 2017.
    • However high cost associated with the enzymes and extensive usage of conventional technologies such as fertilizers for agriculture production are hindering the growth of global agricultural enzymes market.

    Market Segmentation
    • Global agricultural enzymes market is segmented on the basis of enzyme type into Carbohydrase, Proteases, Lipase, Phytase, and Others. Proteases evolved as the largest segment of agricultural enzymes market owing to its large-scale application in farming practices and animal nutrition. It is expected to hold its dominance over the forecast period by growing at a lucrative pace. The growth of proteases is attributable to regulatory changes and bans imposed on the use of antibiotics in animal feed. Proteases evolved as an effective alternative to antibiotics owing to its potential of improving gut and overall animal health. According to the study published in Veterinary Research in July 2018, the usage of proteases in animal feed shown similar outcomes as the usage of antibiotics.
    • By Application, global agricultural enzymes market is segmented into Agro-Chemicals, Animal feed Additive and others. Animal-Feed additives segment dominate the global agricultural enzymes market owing to the increase in adoption of nutritional feed additives by the commercial and local farm producers for the production of healthy cattle and poultry to meet the global demand. The usage of enzymes as a feed additive has grown at a rapid pace over the years owing to increase in adoption by the farm producers for the production of meat at a lower investment and feed consumption. Acceptance of feed enzyme technology has increased in the United States over the past twenty years. Feed enzymes have become an important tool to increase the nutritional value of feed ingredients, reduced feed consumption thereby overall reduction in feed costs, all while maintaining or improving animal growth performance.
    • Although the economic and social benefits of enzymes have been well established, more research and development are needed if enzymes are to reach their full potential in the industry.

    Market Geographical Analysis
    • By region, the global agricultural enzymes market is segmented into North America, South America, Europe, Asia-Pacific, Middle-east and America.
    • North America is expected to dominate the global Agricultural Enzymes market owing to the high presence of organic farming and precision farming culture. Commercial farms and crop growers are investing in advanced farming technologies and use of effective materials including plant growth enzymes to meet the demand for high-quality products. Farmers are focused on producing agricultural products through sustainable practices to meet the consumer demand globally. Organic Farming focuses on optimal usage of natural resources and process for improving agricultural productivity, while minimizing negative environmental impacts such as loss of biodiversity, nutrient leakage and soil degradation through negligible usage of synthetic fertilizers. According to U.S. Department of Agriculture (USDA), number of certified organic farms in the United States increased from 8970 in 2011 to 14,000 providing significant market growth for agricultural enzymes across the region.
    • Asia-Pacific Agricultural Enzymes market is expected to grow at a higher pace during the forecast period owing to the high presence of poultry and cattle industry associated with the growing adoption of organic methods of farming to meet the consumer demand. According to the World of Organic Agriculture Report 2018, the total area dedicated for the organic farming activities in Asia reached over 4.9 million hectares in 2016. It has also seen that exports of organic products has also been increasing in countries like Bangladesh. India is expected to witness significant market growth during the forecast period owing to the shift in agricultural production activities from synthetic to organic methods to meet the demand for natural and organic foods from trier 1 Cities across India.

    Market Competitive Analysis
    • The global agricultural enzymes market is consolidated with major market players such as BASF SE, Syngenta AG, Novozymes A/S, and Advanced Enzymes capturing a significant amount of market share.
    • Other players in the global agricultural enzymes market include American Biosystems, Agrinos AS, AB Enzymes and Creative Enzymes.
    • New product launches and strategic collaborations are the key strategies adopted by the prominent players in the global agricultural enzymes market to improve their geographical presence and market share. For instance,
    • In March 2019, Kemin Industries and China-based CRVAB Bio-Technology Ltd entered into a strategic collaboration for expansion of its production globally through technological exchange of fermentation and production capabilities with the partnering company.
    • In September 2018, Novozymes and DSM launched their first enzyme product, whose purpose is to improve gut functionality for broiler chickens. Moreover, this enzyme enables broilers to take up nutrients better, and poultry farmers can use less feed and move towards more sustainable production.
    • The market is also witnessing significant research activities and investment from major players. In August 2017, Novozymes received financing of USD 110 Billion from European Investment Bank for initiation of R&D activities in industrial enzymes and microorganisms. Key players in the market are likely to increase their R&D investments in near future to develop innovative products.
    • In September 2015, Bayer Biosciences and Elemental Enzymes Ag entered into collaboration in R&D activities to develop innovative products for improving crop productivity.

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