The global agricultural enzymes market was valued at USD 5.0 billion in 2015 and is expected to expand at a rate of CAGR 6% between 2016 and 2023. The agricultural enzyme market is growing due to high investments in bio-technology sector, increasing global population and increase in production yield from the land that can be used for cultivation.
“Agricultural Enzymes Market: Global Demand Analysis & Opportunity Outlook 2023”
The global agricultural enzymes market is segmented by application such as growth enhancing, control and fertility. Fertility segment accounted for major share of overall agricultural enzymes market in 2015.
Further, rising need for improvement of soil fertility and need to increase overall farm production are major factors which are expected to fuel the growth of this segment over the forecast period. Apart from this, agricultural enzymes also help to maintain providence of necessary nutrients to the soil in order to improve soil fertility.
Global agricultural enzymes market is expected to register a 6% CAGR over the forecast period. Moreover, the global agricultural enzymes market stood at valuation of USD 5.0 Billion in 2015.
The market is likely to grow on the back of rising demand for high quality agricultural products across the globe. Further, growing need to increase overall farm production and need to shorten the growth period of plants are likely to drive the growth of global agricultural enzymes market over the forecast period.
North America captured major share of overall agricultural enzymes market in 2015. Further, farmer’s inclination in America towards organic farming and increasing number of certified organic farms are major factors which are leading the growth of North America agricultural enzymes market.
Further, growing application of modern farming practices in North America region to improve the production of agriculture is anticipated to foster the growth of global agriculture enzymes market in near future. However, Asia Pacific agricultural enzymes market is also showcasing huge potential for future growth of agricultural enzymes market in this region.
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Rising Preference for Organic Food
High nutrition and minimum pesticides are some major benefits of organic foods which are increasing the demand for organic foods across the globe. Further, consumer’s inclination towards organic foods is anticipated to fuel the growth of agricultural enzymes market in upcoming years.
Favourable Government Initiatives and Programmes
Governments of developed countries are encouraging farmers to adopt organic farming. Moreover, Governments in developing countries such as India and China are initiating various programs to educate farmers on soil nutrition and to reduce the uses of chemicals in farming.
Likely, such government initiatives are propelling the growth of Agricultural Enzyme Market. However, lack of rules and regulation regarding use of chemicals in farming and enzyme safety & quality assurance regulations are some of the factors that are likely to inhibit the growth of the agricultural enzymes market in the near future.
The report titled “Agricultural Enzymes Market: Global Demand Analysis & Opportunity Outlook 2023” delivers detailed overview of the global agricultural enzymes market in terms of market segmentation by type, by crop type, by application and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global agricultural enzymes market which includes company profiling of Camson Bio Technologies Ltd, Enzymatic Deinking Technologies, Adisseo France S.A.S, Novozymes A/S, Soufflet Group, Greenmax Agro Tech, BioResource International, Inc. (BRI), Agrinos Inc., Hayashibara Co. Ltd., and Verenium Corporation. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global agricultural enzymes market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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Category: Market Research Publishers and RetailersCompany about: Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wis ...