The report "Agricultural Enzymes Market by Type (Phosphatases, Dehydrogenases, Sulfatases), Product Type (Fertility Products, Growth Enhancing Products), Crop Type (Cereals & Grains, Oilseeds & Pulses, Turf & Ornamentals), and Region - Global Forecast to 2022",
The global agricultural enzymes market is projected to grow at a CAGR of 11.2% to reach USD 474.7 million by 2022 in terms of value. The agricultural enzymes market is growing rapidly owing to factors such as cost savings and increasing demand for biofertilizers. The trend towards sustainable industrial agriculture has created opportunities for agricultural enzyme manufacturers to generate significant revenues by developing enhanced and high-quality products for customers.
Scope of the Report
Based
on type, the market has been segmented as follows:
Phosphatases Dehydrogenases Proteases Sulfatases Others (beta-glucosidases, cellulases, and ureases)
Based
on crop type, the market has been segmented as follows:
Cereals & grains Oilseeds & pulses Fruits & vegetables Turf & ornamentals Others (plantation, herbs, and spices crops)
Based
on product, the market has been segmented as follows:
Soil fertility products Growth enhancing products
Based
on region the market has been segmented as follows:
North America Europe Asia Pacific South America RoW (Africa and Middle East)
The cereals &
grains segment, by crop type, is projected to dominate the agricultural enzymes
market through 2022.
Cereals & grains are the staple diet in several
developing countries, especially for the lower-income and rural population.
Urbanization is one of the main factors affecting the demand for cereals &
grains because of different lifestyles, calorie requirements, rise in income,
and change in food requirements. Agricultural enzymes are used for most cereal
crops to enhance the yield as they fertilize the soil and enhance plant growth.
The global demand for agricultural enzymes is also expected to increase as
cereals are grown in almost all countries.
Phosphatases segment
dominated the agricultural enzymes market in 2016
The phosphatases segment accounted for the largest share in
2016. Phosphatases are a broad group of enzymes that are capable of catalyzing
hydrolysis of esters and anhydrides of phosphoric acid and play a vital role in
soil systems. It has the ability to solubilize soil mineral elements.
Fertility segment
accounted for the largest market share in 2016
The fertility products segment is projected to grow at the
highest rate during the forecast period followed by growth enhancing products.
Soil fertility products containing soil enzymes such as proteases,
dehydrogenases, ureases, sulfatases, and amylases are important in catalyzing
several vital reactions necessary for the life processes of micro-organisms in
soils and the stabilization of soil structure.
Europe: Lucrative
market for opportunities for the agricultural enzymes market
In 2016, North America accounted for the largest share of
the global agricultural enzymes market. The market in Europe is also projected
to grow at a significant CAGR during the forecast period. This region comprises
countries such as France, Spain, Germany, Italy, the U.K., and Rest of Europe
wherein the Spain is a key producer of various agricultural applications. This
report includes a study of marketing and development strategies, along with the
product portfolios of leading companies. It includes the profiles of leading
companies such as Novozymes A/S (Novozymes BioAg) (Denmark), Syngenta AG
(Switzerland), E. I. du Pont de Nemours and Company (U.S.), Koninklijke DSM
N.V. (Netherlands), BASF SE (Germany), and Bayer AG (Germany)