The global agricultural enzymes market revenue is expected to register a lucrative CAGR over the forecast period. The global agricultural enzymes market report has been segmented on the enzyme type, crop type, and region. Increasing number of agricultural productivity by growers owing to the rapidly growing population is major factor expected to drive the growth to global agricultural enzymes market over the forecast period. Awareness about agricultural biotechnology and development of novel agricultural enzymes by players operating in market is major factor expected to drive the growth of global agricultural enzymes market. Rising concerns regarding the environmental safety owing to the use of pesticides are other factor expected to drive the growth of the market over the forecast period.
However, stringent government regulation for approval of biological products coupled with high cost of development of agricultural enzyme are major factors expected limit the growth of market over the forecast period.
Based on enzyme type, global agricultural enzymes market is segmented based on phosphatases, dehydrogenases, proteases, sulfatases, and others (beta-glucosidase, cellulases, and ureases). The phosphatases segment accounted for major revenue share as compared to that of other agriculture enzyme type.
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Regional segmentation includes North America, Europe, Latin America, Asia Pacific and Middle East and Africa. Market in North America is expected to account major share in term of revenue owing to the increasing demand for organic food in the region. Market in Asia Pacific is expected to witness rapid growth rate over the forecast period. Increasing demand for agricultural enzymes in the countries such as China and India is expected to drive the growth of the market in the region.
Some prominent players in the global agricultural enzymes market are Novozymes A/S, Syngenta AG, E. I. du Pont de Nemours and Company, Agrinos AS, Stoller USA, Inc., BioWorks, Inc., Enzyme India Pvt. Ltd., Cypher Environmental, Aum Enzymes, and American Biosystems, Inc.