The global agricultural enzymes market exhibited strong growth during 2015-2020. Looking forward, the market is expected to grow at a CAGR of around 10% during 2021-2026, according to a recent report by ResearchAndMarkets.com
Agricultural enzymes are biological catalysts that accelerate chemical reactions for unblocking the nutrients present in the soil. These enzymes help increase the plant yield and quality by detoxifying the soil that has been processed with pesticides, herbicides and chemical fertilisers.
As they also neutralise both acid and alkaline soils, agricultural enzymes are extensively employed in the bioprocessing of fibers, enzyme-assisted silage fermentation, processing of crops and crop residues and the production of various animal feed supplements.
Organic boost
The escalating demand for organic food on account of the increasing awareness among individuals about the hazardous impact of pesticides represents one of the significant factors propelling the growth of the naturally sourced agrochemicals across the globe.
Apart from this, the rising concerns about food and environment safety have led to the implementation of stringent regulations. These regulations are impelling farmers to adopt bio-based chemicals in place of their chemical counterparts. This, in turn, is positively influencing the sales of agricultural enzymes.
New technologies
Furthermore, the leading players are focusing on the development of technologies that assist in producing these enzymes using microorganisms. Microorganisms used in the production of agricultural enzymes grow in closed steel tanks that contain nutrients, including sugar, starch, soy and corn.
Besides this, some of these players are also using gene engineering technology to make the enzymes more efficient. Additionally, the increasing global population, in confluence with the inflating disposable incomes, is anticipated to fuel the growth of the market in the upcoming years.
Some of the key players in this market are AB Enzymes GmbH (Associated British Foods Plc), Agrinos Inc. (Agrinos AS), Aries Agro Ltd., BASF SE, Bayer Aktiengesellschaft, Bioworks Inc., Deepak Fertilisers and Petrochemicals Corporation Limited, Dupont De Nemours Inc., Stoller Group Inc. and Syngenta AG (China National Chemical Corporation Limited).
