Agricultural Enzymes Market – Growth Opportunity Assessment and Forecast| Technavio

September 26, 2017

LONDON–(BUSINESS WIRE)–#Agrochemicals—Technavio
market research analysts forecast the global
agricultural enzymes market to grow at a CAGR of more than 7% during
the forecast period, according to their latest report.

The market study covers the present scenario and growth prospects of the
global agricultural enzymes market for 2017-2021. The report also
lists control products, fertility products, and growth-enhancing
products as the three major application segments, of which the control
products segment accounted for more than 50% of the market share in 2016.

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Technavio analysts highlight the following three market drivers that are
contributing to the growth of the global agricultural
enzymes market:

Growth in the global population
Growing preference for organic farming
Increased production yield for limited arable land

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Growth in the global population

The ongoing economic development in countries such as the US, China,
India, Indonesia, and other emerging economies is fostering
urbanization. This has also resulted in the rise in disposable income of
consumers, which is directly responsible for the growing purchasing
power. Moreover, food consumption has also increased to meet the growing
demands of the increasing population. Therefore, there is a need to
increase food production to cater to the growing demand across the
world. Agricultural enzymes play an important role in the farming
processes as they facilitate high crop yield in lesser time without
harming the environment.

Growing preference for organic farming

Consumers across the world are increasingly concerned about the
nutrition, health, and quality of their food. Organic farming improves
agro-ecosystem health, such as the biological activity of the soil,
biodiversity, and biological cycles. It also encourages the use of
biological and mechanical practices as it is not as harmful as synthetic
materials. It also promotes the health of the soil, water, and air by
minimizing pollution that may result from agricultural practices.
Therefore, organic farming, as an integrated farming approach, gives
importance to both technical and economic aspects, as well as human
health. North America is the largest adopter of organic farming and is
characterized by the adoption of latest technologies and significant
investments in R&D for developing products that aid in organic farming.

“Organic farming includes the use of different bio-products that are
generally eco-friendly in nature and are biodegradable. This prevents
harmful emissions that can cause pollution. The bio-products include
bio-pesticides or insecticides, bio-fertilizers, and bio-stimulants.
They maintain environmental sustainability while facilitating higher
crop yield and higher nutritional value,” says Mohd Shakeel Iqbal, a
lead analyst at Technavio for agrochemicals
and fertilizers research.

Increased production yield for limited arable land

Most of the arable land is already used for agriculture, which means
that area of expansion would occur on marginal lands where it is
unlikely to produce high yields. As a result, the land becomes
vulnerable to degradation. In some of the major grain production areas
of east and southeast Asia, the rate of rice yields is falling back
because of the lack of fertile lands. These lands are damaged to a large
extent because of the excessive use of chemical fertilizers and
pesticides.

“The rising awareness regarding the use of bio-based products and
organic farming can help in increasing the yield of crops in a limited
arable land, without harming the environment and, creating healthy
nutritional valued crops. This results in less consumption of water for
agricultural lands,” says Shakeel.

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