Agricultural Enzymes Market Size

Agricultural Enzymes Market size was over USD 547.1 million in 2023 and is anticipated to reach USD 1.63 billion by 2036, growing at around 8.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of agricultural enzymes is estimated at USD 585.62 million.

 The growth of the market can be attributed to the rising awareness of organic methods of growing crops, growing agriculture sectors, and increasing inclination toward agro-biologicals owing to higher prices of agro-chemicals. As per the report provided by World Bank, the agriculture sector can be projected to provide food for 9.7 billion people by 2050. Furthermore, the developing global agriculture biochemical industry is also projected to hike the growth of the market over the forecast period. For instance, in 2022, the global agriculture biochemical industry amounted to approximately USD 10 billion which is further forecasted to grow constantly. Higher prices of agro-chemicals also encourage cultivators to choose agro-biochemicals. In 2019, the agrochemical market was valued at almost USD 200 billion and is expected to reach over USD 295 billion over the forecast period. All these factors are anticipated to influence the growth of the market positively over the forecast period.