Agricultural Enzymes Market Analysis, Share, Outlook, Future Growth and Opportunities by 2023
The agricultural enzymes market is growing due to high investments in the biotechnology sector, increasing global population and increase in production yield from limited arable land.Demand for high quality agricultural products and adoption of modern farming practices, helping in cost improvement are creating ample opportunities for the growth of the agricultural enzymes market in the coming years.
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Agro biotechnological processes including bioprocessing of crop residues and crops, enzyme-assisted silage fermentation, construction of feed supplements to enhance feed effectiveness and fiber processing uses agricultural enzymes. Agricultural enzymes are also used in some advanced applications such as use of phytases for improving effectiveness of nutrient utilization and reducing waste.
On the basis of product types, the agricultural enzymes market can be categorized as proteases, lipases, carbohydrases, polymerases and nucleases. The agricultural enzymes market can be categorized on the basis of crop types as oil seeds and pulses, cereals and grains, and fruits and vegetables. On the basis of applications, the agricultural enzymes market can be categorized as growth enhancing products, control products and fertility products.
North America is leading the agricultural enzymes market due to many reasons such as high crop productivity, focus on bulk manufacturing, advanced farming technologies, big cooperatives and farms. Asia-Pacific is the fastest growing agricultural enzymes market, with China dominating the region.
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Some of the competitors in the agricultural enzymes market are Deepak Fertilisers & Petrochemicals Corp Ltd, GreenMax AgroTech, Aries Agro Ltd., Novozymes A/S, Agrinos Inc., Agri Life, Bioworks Inc, Camson Bio Technologies Ltd, Syngenta AG and Stoller Inc.
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