Agricultural Enzymes Market Size, Competitive Landscape and Market Forecast - 2029
Global Agricultural Enzymes Market is segmented By Enzyme Type (Carbohydrase, Proteases, Lipase, Phytase, Others), By Crop Type (Cereal Grains, Fruits and Vegetables, Oil Seeds and Pulses, Turf and Ornamental, Other Plants), By Application (Agro-Chemicals, Animal Feed Additive, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029
Market Overview
The global "Agricultural Enzymes Market" is expected to grow at a CAGR of 11.1% during the forecast period (2022-2029).
Enzymes are mostly biological catalysts that accelerate the response to chemicals. Agricultural enzymes are a catalyst for the chemical reaction which unblocks and provides roots of the plants with nutrients found in the soil. These nutrients would have stayed linked to soil inaccessible to plants in the absence of an agricultural enzyme. The use of farming enzymes in the feed makes plant output and quality easier. The global Agricultural Enzymes market valued USD XX million in 2020 and is estimated to reach USD XX million by 2028, growing at a CAGR of XX%
Market Dynamics
As fertilizer prices climbed substantially, farmers began to use farm biologics such as biofertilizers, biopesticides, and bio-enzymes. Agricultural biologicals are significantly cheaper than chemical fertilizers in the form of biopesticides and biofertilizers, which are the favored products of farmers. The effect of agricultural enzymes can vary in yield, plant development, and soil fertility if coupled with fertilisers also enhance soil fertility and hence increase yield. Its use improves soil fertility and yield by increasing the development of plants. 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 which means more yield will be required in the future and these enzymes might be helpful. Enzymes are an essential tool in the armory of farmers and crop growers in meeting growing demand in a sustainable way. Core factors such as an increase in food security requirements owing to fast population expansion in agriculture, advanced agriculture technology, and increased demand for chemical-free goods drive worldwide market growth in agricultural enzymes. Companies are developing innovative technology in the production of water- and energy-saving agricultural enzymes. BioAg Alliance has been created by manufacturers such as Novozymes A/S and Monsanto to develop and commercialize microbial solutions to increase agricultural yields. Naturally, existing microorganisms such as bacteria and fungus generate biological products produced under that Alliance.
Government regulations over the manufacturing of agricultural enzymes are stringent. The production of a related product might be restricted, according to the U.S. Food and Drug Administration (USFDA), if the detected bio-product issue is not resolved within the given time period.
COVID-19 Impact
The Covid-19 pandemic has seriously impacted the agrochemical industry. Since Covid-19, the supply chain has been completely disrupted. This resulted in an irregular supply of liquid fertilizers. The global trade came to a halt due to Covid-19 controlling the spread of the novel coronavirus. Also, the movement of people was restricted due to the covid-19, due to this the labour to help around a farm is less. Due to which even if people have a stock of liquid fertilizers, it is not being used. This is decreasing the demand among people for liquid fertilizer. By this, we can say that Covid-19 has had a negative impact on the Agrochemical Industry
Market Segmentation
Global agricultural enzymes market is segmented on the basis of enzyme type into Carbohydrase, Proteases, Lipase, Phytase, and Others. The greatest CAGR over the projection period is predicted in the protease category. Protease enzymes are not only useful markers for soil fertility but help to catalyze ester hydrolysis and phosphoric acid anhydrides. Their function will also be crucial in the soil system because of the larger amount of organic carbon contained in the systems, their capacity to solubilize soil mineral components is predicted to be higher in biologically managed systems. The need for proteases in the agricultural enzymes market is being increased by such causes. According to the study published in Veterinary Research in July 2018, the usage of proteases in animal feed showed similar outcomes as the usage of antibiotics.
By Crop Type, the global agricultural enzymes market is segmented into Cereal grains, Fruits and vegetables, pulses and oilseeds, Turf and ornamental. The segments of cereals & grains account for the forecast period with the greatest market share. By the end of 2019-20, 2710.7 million tons of cereal were produced throughout the world. Rice, especially in the Asia-Pacific area, is the most frequently eaten staple food in the whole world. In 2019-20, 502.9 million tons of rice were produced throughout the world. Overall, rice is next to maize, the second most widely manufactured grain. Cereals & grains demand due to altered lifestyle, caloric needs, income growth, and dietary requirements are driven by urbanization. For most cereal crops, agricultural enzymes increase the yield by fertilizing soil and improving plant development.
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. Due to the presence of large competitors and massive investment in technological development, North America and Europe are mature markets. The U.S. and Mexico invest enormously in technology to produce products without chemicals for agriculture. These are some of the main elements that will drive the expansion of the region's agricultural enzyme business. North America's biggest market share stems from growing environmental concerns, understanding of agriculture biotechnology and the use of advanced farming technologies that drive growth in the area. Farmers continue to produce healthier, high-yield crops using enzymes acting as agricultural enhancers throughout North America. Organic Farming focuses on optimal usage of natural resources and processes for improving agricultural productivity while avoiding the usage of synthetic fertilizers and using agricultural enzymes. According to Statista, in 2019, the U.S made USD 50.07 billion on organic farming food sales.
Asia-Pacific Agricultural Enzymes market is expected to grow at a higher pace during the forecast period. This is due to the presence of rising economies such as India and China, asia-Pacific is the fast-growing area. Due to its large investments in agriculture, China is projected to be the main market throughout the projection period. Over the past few years, China has had the most expansion in agricultural land worldwide. In Asia-pacific, China has the most Agricultural organic land nearing 3.1 million hectares. The nation invests much in chemicals-free goods used in agriculture. According to the World of Organic Agriculture Report 2020, by 2019 the organic farming land increased by 15-fold since 2001.
Competitive Landscape:
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. 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.
- In 2020, Syngenta and Novozymes launched a unique bio fungicide called TAEGRO® in Europe and Latin America. When fruit and vegetable growers use TAEGRO® in the recommended crop management programs it protects against diseases such as powdery mildew and botrytis.
Syngenta AG:
Overview:
Syngenta AG is a global company whose headquarters is located in Switzerland. Syngenta AG aims to advance more sustainable agriculture which is good for nature, farmers, and society. Syngenta AG supports the farmers with technologies, services, and knowledge so that they can improve their yield and provide the world with better food, feed, and fiber.
Product Portfolio:
Syngenta has products for improving yields for seeds such as barley, corn, cereals and vegetables. They also have products for protecting crops such as herbicides which help in the removal of weeds from the farm.
Key Developments:
- Syngenta AG has had a total global sales of $14.3 billion in the year 2020 alone.
- Most improvements in sales for crop protection occurred in the Asia continent excluding China which was 8%
- Sales for seeds in the Asia continent including China increased by 17%
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