(EMAILWIRE.COM, August 15, 2019 ) The Global Agricultural Enzymes Market is projected to grow at a CAGR of 11.2% to reach USD 474.7 million by 2022 in terms of value. The agricultural enzymes market is growing rapidly owing to factors such as cost savings and increasing demand for biofertilizers. The trend towards sustainable industrial agriculture has created opportunities for agricultural enzyme manufacturers to generate significant revenues by developing enhanced and high-quality products for customers.

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The cereals & grains segment, by crop type, is projected to dominate the agricultural enzymes market through 2022:
Cereals & grains are the staple diet in several developing countries, especially for the lower-income and rural population. Urbanization is one of the main factors affecting the demand for cereals & grains because of different lifestyles, calorie requirements, rise in income, and change in food requirements. Agricultural enzymes are used for most cereal crops to enhance the yield as they fertilize the soil and enhance plant growth. The global demand for agricultural enzymes is also expected to increase as cereals are grown in almost all countries.

Phosphatases segment dominated the agricultural enzymes market in 2016:
The phosphatases segment accounted for the largest share in 2016. Phosphatases are a broad group of enzymes that are capable of catalyzing hydrolysis of esters and anhydrides of phosphoric acid and play a vital role in soil systems. It has the ability to solubilize soil mineral elements.

Fertility segment accounted for the largest market share in 2016:
The fertility products segment is projected to grow at the highest rate during the forecast period followed by growth enhancing products. Soil fertility products containing soil enzymes such as proteases, dehydrogenases, ureases, sulfatases, and amylases are important in catalyzing several vital reactions necessary for the life processes of micro-organisms in soils and the stabilization of soil structure.

Europe: Lucrative market for opportunities for the agricultural enzymes market:
In 2016, North America accounted for the largest share of the global agricultural enzymes market. The market in Europe is also projected to grow at a significant CAGR during the forecast period. This region comprises countries such as France, Spain, Germany, Italy, the U.K., and Rest of Europe wherein the Spain is a key producer of various agricultural applications.

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Sustaining soil fertility has become a major issue for agricultural research and development across the world. Decades of research on soil fertility and use & benefits of organic fertilizers and inorganic fertilizers has shown that organic fertilizers often enhance the activities of numerous enzymes and boost the soil biogeochemical cycles. The agricultural biological products such as biofertilizers, biopesticides, and biostimulants, which contain enzymes to enhance the soil fertility and boost plant growth, are considered for the product type segment

The agricultural enzymes market is consolidated, with major players operating at regional and local levels. The key players in this market include Novozymes A/S (Novozymes BioAg) (Denmark), Syngenta AG (Switzerland), E. I. DuPont de Nemours and Company (U.S.), Koninklijke DSM N.V. (Netherlands), BASF SE (Germany), and Bayer AG (Germany). Most key participants have been exploring new regions through new product launches, collaborations, and acquisitions across the globe to avail a competitive advantage through combined synergies.

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