Agricultural Enzymes Market Report 2021

1. Market Size & CAGR of Agricultural Enzymes Market in 2021

The global agricultural enzymes market is anticipated to grow at a CAGR of 4.5% from 2021 to 2028, reaching a market value of USD 2.3 billion by 2028.

2. COVID-19 Impact on the Agricultural Enzymes Market

The outbreak of COVID-19 had a significant impact on the agricultural enzymes market due to disruptions in the supply chain, temporary shutdowns of manufacturing units, and reduced demand from end-users.

3. Agricultural Enzymes Dynamics

The agricultural enzymes market is driven by factors such as increasing awareness about sustainable farming practices, the need for higher crop yields, and the growing demand for organic products.

4. Segments and Related Analysis

The agricultural enzymes market can be segmented based on type, application, and region. Major segments include carbohydrases, proteases, lipases, and nucleases.

5. By Region Analysis

The market for agricultural enzymes is dominated by North America, followed by Europe, Asia Pacific, Latin America, and the Middle East & Africa.

6. Key Market Players and Competitive Landscape

Key players in the agricultural enzymes market include Novozymes, Syngenta, BASF, DuPont, and Koninklijke DSM N.V. The market is highly competitive with companies focusing on product innovation and strategic partnerships.

7. Recent Happenings in the Agricultural Enzymes Market

In recent years, there has been a growing trend towards the use of bio-based agricultural enzymes, increased investment in R&D, and the launch of new enzyme products for specific crop applications.