North America Agricultural Enzymes Market - Growth, Trends and Forecast (2020 - 2025)

The North America Agricultural Enzymes Market is projected to register a CAGR of10.4 % during the forecast period(2020-2025). The rising consumer demand for chemical-free food products especially from the millennials who are seeking the sustainable option coupled with modern sustainable farming practices such as precision farming, organic farming has created a huge impact on the agricultural enzymes market. In the market studied cereals and grains segments dominate the market owing to the higher organic production which is driven by its wider application in various industries. In 2019, the Organic Trade Association started a project "Organic Agronomy Training Series (OATS)" to promote and educate the producer regarding organic farming practice. Elemental Enzymes, Novozymes, Agrinos, American Biosystems Inc, Agrinos, Stoller USA, and INFINITE ENZYMES, LLC are some of the key players in the market.

Key Market Trends

Rising demand for Organic Products

North America continues to be the region with the largest organic market, according to the Research Institute of Organic Agriculture (FiBL), in 2017, the organic market continued to grow in North America, reaching USD 48.22 billion. In Canada, the organic market grew by over 9% in 2017, while it grew by 6% in the United States. In 2017, per capita, spending on organic products was USD 136.8 in the United States while in Canada it was USD 93. Canada reported an organic share of the total retail sales of 2.6 %, and in the United States, an organic share of 5.5 % was noted in the same year. According to the Organic Trade Association, in 2018, the United States is the largest single organic market in the world, accounting for USD 52.5 billion grew 6.3% from the previous year. Organic food sales in the United States rose by 5.9% to reach USD 47.9 billion. Organic food sales made up 5.7% of overall U.S. food sales, which rose 2.3% in 2018.

Cereal and Grains Dominates the Market

Starches are the principal constituents of the cereal grains and the numerous food applications of cereal starches are driving the production of cereals in the region. According to the Research Institute of Organic Agriculture (FiBL), in 2017, the key organic arable crop group is cereals, with approximately 546,000 hectares, representing almost 39% of the region's organic arable area, and 0.8% of the total cereal area in the region. Whereas organic vegetables were grown on 70,000 hectares of land a 7.5% of the total vegetables in the region, with leafy/stalked vegetables (nearly 25,000 hectares) and other fruit vegetables over 15’000 hectares being the key produced vegetables in the same year. The key organic cereal grown in the region was wheat with more than 154,000 hectares, this represented 0.6%of the total wheat grown in the region. In the United States, over 281’000 hectares of organic cereals were grown, and Canada reported almost 264’500 hectares. Thus the rising demand for organic or chemical-free products and the wider application of cereals in various industries such as food, feed, and confectionaries will further drive the production which will in turn impact the agricultural enzyme market positively.

Competitive Landscape

In the agricultural enzymes market, companies are adopting various strategies, such as product launches, partnerships, and acquisitions, to gain a larger share in the market. The global enzymes market is a fairly consolidated market, with the top companies accounting for the majority of the total market share. Elemental Enzymes, Novozymes, Agrinos, American Biosystems Inc, Agrinos, Stoller USA, and INFINITE ENZYMES, LLC are some of the key players in the market.

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