Latin America Agricultural Enzymes Market was worth USD 43.63 million in 2021 and estimated to be growing at a CAGR of 11.12%, to reach USD 73.92 million by 2026.
Agricultural enzymes are biological catalysts which are used thoroughly in agricultural based biotechnological processing, like processing of crops and crop residues, enzyme-assisted silage fermentation, bio-processing of fibers, and production of a lot of animal feed supplements. Technological progress in the field of agricultural enzymes has boosted both the application of agricultural enzymes such as advent of phytases which enhances the nutritional content of the food grains as well as silage fermentation and manufacturing capacity.
Key companies in the sector have discovered technologies for producing the enzymes from microorganisms. The microorganisms which are used for production grow in closed steel tanks, which contain nutrients such as starch, soy, sugar, and corn. These microorganisms expand the crop yields and reduce the use of pesticides in the production of food.
Latin America Agricultural Enzymes Market Drivers:
The driving factors of Latin America Agricultural Enzymes market are rising demand for organic and natural food, growing awareness towards hazardous properties of pesticides and chemicals which are used in agriculture, growing agriculture industry and increasing awareness about organic farming among others.
Latin America Agricultural Enzymes Market - By Product Type:
growth enhancing products
Latin America Agricultural Enzymes Market - By Crop Type:
Cereals and grains segment is expected to have the largest market share in the segment while oilseeds and pulses is expected to grow at the fastest rate.
Latin America Agricultural Enzymes Market - By Enzyme Type:
The Latin America Agricultural Enzymes market is divided based on geography into Brazil, Argentina, Chile, Peru and other parts of the region. Factors such as rising awareness about organic farming and growing population are expected to drive the market growth in the region.
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