AGRICULTURAL ENZYMES MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


Agricultural Enzymes Market Analysis:

The Agricultural Enzymes Market is projected to experience substantial growth, with an anticipated increase from USD 316.52 million in 2023 to USD 433.66 million by 2028. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 6.50% during the forecast period of 2023–2028.

Agricultural enzymes have gained widespread acceptance within the farming sector. The market for these enzymes is driven by several factors, including the rising demand for organic food, the increasing adoption of biological agricultural products, and the implementation of robust research and development initiatives and market strategies by key industry players. Additionally, the global population’s rapid growth has led to an increased need for food safety, which has further propelled the market’s expansion. Advancements in farming technologies and the growing demand for chemical-free products have also contributed to this growth. Moreover, the inclination towards agro-biologicals, the significant expansion of organic farming, and the ability to enhance production yields from limited arable land are additional factors influencing the global demand for food safety. Consequently, the agricultural enzyme industry is expected to achieve substantial gains throughout the forecast period.

The increasing consumer preference for organic foods has prompted farmers to transition towards the use of chemical-free and safe pesticides. According to the Organic Trade Association, sales of organic foods in the United States witnessed a growth rate of 8.3% in 2021, accounting for 12.8% of total food sales compared to 4.5% in 2020.

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