Recent Developments
Novozymes produces and sells industrial enzymes and microorganisms worldwide. It mainly operates in three divisions: Household Care & Technical, Agriculture & Bioenergy, and Food & Beverages. Advanced biofuel technology became reality with Novozymes new Agricultural Enzymes technology, the enzyme enables cost-efficient conversion of biomass to ethanol and performs 1.5 times better than Novozymes’ previous market product, Cellic CTec2. Using Cellic CTec3, biofuel producers need one-fifth of the enzyme dose compared to competing enzymes. Cellic CTec3 allows the cost of creating ethanol from biomass to approach the level of corn ethanol and gasoline.
The BioAg Alliance, Novozyme’s and Monsanto’s collaboration to improve crop harvests through naturally-occurring microbes, announced results from its 2015 field trial program. Those results included a corn product, which increased yields by an average of 4 bushels per acre in US field tests.
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Market Segmentations
Market Data Forecast published a report named Agricultural Enzymes Market. “Agricultural Enzymes Market was worth USD 406.4 million in 2019 and estimated to be growing at a CAGR of 11.77%, to reach USD 708.8 billion by 2024.
Report is segmented by
Product Type
growth enhancing products
control products
fertility products
Crop type
oilseeds and pulses
cereals and grains
fruits and vegetables
turf and ornaments
Cereals and grains segment are expected to have the largest market share in the segment while oilseeds and pulses are expected to grow at the fastest rate. Major companies in the sector have discovered technologies for producing the enzymes from microorganisms. The microorganisms which are utilized for production growth in closed steel tanks, which contain nutrients such as starch, soy, sugar, and corn. These microorganisms expand the crop yields and decrease the use of pesticides in the production of food.
Geographical Segmentation:
The Global Agricultural Enzymes market is segmented based on geography into North America, Latin America, Asia-Pacific, Middle East and Africa and Europe. North America has the leading market for Agricultural Enzymes in the world, which is followed by the Asia Pacific and Europe regions. Asia Pacific region is expected to have the fastest growth rate during the forecast period due to increasing demographics in developing parts of the region such as China and India.
Key players in the market are -
Syngenta, Creative Enzyme
Novozymes
BASF
Afrizymes
Enzyme India Pvt. Ltd
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Scope of the report:
The report proposals a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influencing in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers an outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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