Market Size of Agricultural Enzymes Industry
| Study Period | 2018 - 2028 |
| Market Size (2023) | USD 316.52 Million |
| Market Size (2028) | USD 433.66 Million |
| CAGR (2023 - 2028) | 6.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Agricultural Enzymes Market Analysis
The Agricultural Enzymes Market size is expected to grow from USD 316.52 million in 2023 to USD 433.66 million by 2028, at a CAGR of 6.50% during the forecast period (2023-2028).
- Agricultural enzymes have gained extensive acceptance in the farming sector. The factors driving the agriculture enzyme market are the growing demand for organic food, increasing adoption of biological agricultural products, and increased R&D and market strategies by key players.
- In addition, the global rise in the need for food safety due to the rapid increase in population, developments in farming technologies, and the increasing demand for chemical-free products are also supporting the market's growth. Furthermore, the increased inclination toward agro-biologicals, significant growth in organic farming, and the rise in the production yield from limited arable land are other factors that affect the global rise in the need for food safety. Thus, the agricultural enzyme industry is expected to record significant gains during the forecast period.
- The increasing consumer inclination toward consuming organic foods is making farmers switch to chemical-free/safe pesticide usage. According to the Organic Trade Association, the sales growth of organic foods in the United States increased by 8.3% in 2021, accounting for 12.8% compared to 2020, which was 4.5%.
