Asia Pacific Agricultural Enzymes Market Outlook 2031:
The Asia Pacific agricultural enzymes market size was valued at USD 144.93 Billion in 2022 and is projected to reach USD 458.44 Billion by 2031, expanding at a CAGR of 13.65% during the forecast period 2023 - 2031. The growth of the market is attributed to the growth of organic farming.
Agricultural enzymes serve as biological catalysts in agricultural-based biological processes such as crop and crop residue processing, silage fermentation, and fiber bioprocessing. Oilseeds, pulses, fruits and vegetables, grains, and cereals all require enzymes to flourish. Agricultural enzymes have progressively gained popularity since they improve the quality of the final output.
Technological advancements in the field of agricultural enzymes, such as the introduction of phytases, which improve the nutritional content of food grains as well as silage fermentation and production capacity, have expanded the use of agricultural enzymes.
According to the Research Institute of Organic Agriculture (FiBL), arable crops accounted for 45 per cent of all organic farmland in Asia in 2017, accounting for 2.7 million hectares, with cereals comprising the key organic arable crops group, primarily wheat and rice, accounting for approximately 1.1 million hectares, or 0.3 per cent of the total cereal area in Asia.
The majority of organic cereals were cultivated on around 900 thousand hectares in China and about 65 thousand hectares in Kazakhstan. Rice, grain maize, and wheat were the most popular organic cereals in 2017. China has the biggest organic wheat acreage, with 143 thousand hectares, followed by Kazakhstan with over 19 thousand hectares, accounting for nearly half of Asia's total organic wheat areas.
According to the Research Institute of Organic Agriculture (FiBL), China's organic market was worth USD 8.54 billion in 2017, making it the world's fourth-largest market for organic products. Furthermore, Japan's organic market is worth USD 1.57 billion, while South Korea's is worth USD 371.2 million. Governments around the Asia Pacific are realizing the environmental and economic benefits of organic farming and are promoting organic agriculture and food production. According to FiBL, Asia has 4.87 million hectares of organic agricultural land in 2016, which rose to 6.0 million hectares in 2017.
Asia Pacific Agricultural Enzymes Market Trends, Drivers, Restraints, and Opportunities
- Growing customer awareness about chemicals is estimated to propel the market expansion during the forecast period.
- Advancements in agriculture, as well as the rising trend of organic farming, is projected to boost the market growth in the coming years.
Scope of Agricultural Enzymes Market Report
The report on the Asia Pacific agricultural enzymes market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Asia Pacific Agricultural Enzymes Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Types (Carbohydrases, Proteases, Lipases, and Polymerases & Nucleases), Applications (Crop Protection, Fertility, and Plant Growth Regulation), and Crops (Grains & Cereals, Oil Seeds and Pulses, Fruits and Vegetables, and Other Crop Types)
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Countries Scope
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China, India, Japan, Australia, and Rest of Asia Pacific
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Enzyme India Pvt. Ltd., Elemental Enzymes, Agrilife, Novozymes, and Creative Enzymes
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Agricultural Enzymes Market Segment Insights
Carbohydrases segment is projected to account for a major market share
Based on types, the Asia Pacific agricultural enzymes market is segmented into carbohydrases, proteases, lipases, and polymerases & nucleases. The carbohydrases segment is expected to account for a key share of the market during the forecast period owing to rising awareness among the general public.
Crop protection segment is expected to expand at a robust pace
On the basis of applications, the Asia Pacific agricultural enzymes market is segregated into crop protection, fertility, and plant growth regulation. The crop protection segment is expected to account for a key share of the market in the coming years due to the growing shift towards organic farming these days.
Grains & cereals segment is anticipated to expand at a rapid CAGR
In terms of crops, the Asia Pacific agricultural enzymes market is segmented into grains & cereals, oil seeds and pulses, fruits and vegetables, and other crop types.
The grains & cereals segment is expected to account for a key share of the market in the coming years due to increased organic cereal production throughout the projected period.
China is anticipated to dominate the market
On the basis of regions, the Asia Pacific agricultural enzymes market is classified as China, India, Japan, Australia, and Rest of Asia Pacific. The market of China is anticipated to expand at an impressive CAGR during the forecast period. The regional market growth can be attributed to extensive support from the government.
Segments
The Asia Pacific agricultural enzymes market has been segmented on the basis of
Types
- Carbohydrases
- Proteases
- Lipases
- Polymerases & Nucleases
Applications
- Crop Protection
- Fertility
- Plant Growth Regulation
Crops
- Grains & Cereals
- Oil Seeds and Pulses
- Fruits and Vegetables
- Other Crop Types
Countries
- China
- India
- Japan
- Australia
- Rest of Asia Pacific
Key Players
Competitive Landscape
Key players competing in the Asia Pacific agricultural enzymes market include Enzyme India Pvt. Ltd., Elemental Enzymes, Agrilife, Novozymes, and Creative Enzymes. Some of these players are investing heavily in several business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
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