News in brief: The global agricultural enzymes market is predicted to reach $724.56 million within a seven-year forecast period. Factors such as fertilizer use, organic farming practices, crop yield improvement, expanding biofuel and bioenergy markets, and increasing awareness of eco-friendly and smart farming techniques, particularly in North America, are responsible for its growth.
The global agricultural enzymes market worth is projected to hit $724.56 million in seven years, according to a market report that measured the growth within a 2023-2030 forecast period. The numbers represent a compound annual growth rate (CAGR) of 14.3% within the given period.
Major drivers pushing the growth include; fertilizer use, livestock nutrition, organic farming practice, crop yield, biofuel and bioenergy markets expansion, and soil fertility.
The report noted observed trends such as lifestyle pattern changes, need for heathier living, greenhouse awareness and smart farming techniques, fueling the growth. These trends reflect an increasingly global eco-friendlier leaning in the coming years.
Agricultural enzymes are biological catalysts with a wide range of use in agricultural practices. Some key enzymes for agricultural use include phosphatases, dehydrogenases and urease.
They are especially important in improving human and animal food quality through better crop yields. Also, the increasing awareness against chemicals in pesticides, herbicides and fertilisers use has made them preferred alternatives.
Enhancing crops is the topmost use for these catalysts and they have capabilities to improve seed germination, nutrient uptake, plant growth, and stress tolerance. Enzymes can also promote soil health, improve nutrient availability, and enhance plant resilience. Thus, they are in high demand, driving sales and giving positive projections.
The report lists North America as the region expected to top global use and demand within the forecast period. Major advancements in technology are the key factor seen to push demand quickly over there.
