Humic Acid Market Size
Humic Acid Market size exceeded USD 532.7 million in 2021 and is expected to grow at a CAGR of 11.8% from 2022 to 2028. Government initiatives are boosting organic farming methods to achieve environmental sustainability, particularly in countries including the U.S. and China, which have substantially propelled the humic acid demand.
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Humic acid is one of the major components of humic substances, mainly composites from coal, peat, and soil. Animal bodies and plants are decomposed to the final break-down product, which is majorly found in the layers of leonardite sedimentation. It is used in ecological bioremediations, agriculture, horticulture, and dietary supplements usages. Humic acid is greatly beneficial for soil fertility to improve crop yield owing to its natural soil conditioning properties.
Humic Acid Market Report Attributes
| Report Attribute |
Details |
| Base Year |
2021 |
| Humic Acid Market Size in 2021 |
532.7 Million (USD) |
| Forecast Period |
2022 to 2028 |
| Forecast Period 2022 to 2028 CAGR |
11.8% |
| 2028 Value Projection |
1,129.9 Million (USD) |
| Historical Data for |
2018 to 2021 |
| No. of Pages |
190 |
| Tables, Charts & Figures |
128 |
| Segments covered |
Application, Region |
| Growth Drivers |
- Growing demand for sustainable agriculture
- Rising awareness about the negative impact of chemical fertilizers
- Developing organic food industry
|
| Pitfalls & Challenges |
- Low market penetration in emerging economies
- Inconsistent quality of end-products
|
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Imagine our ever-expanding cities and industries in Asia Pacific, especially in China. They've been gobbling up farmland for years, leaving us with less and less to grow food. And with an ever-growing population, our food needs just keep skyrocketing. To keep up, farmers are turning to fertilizers to boost crop yields. But these chemical fertilizers can harm the environment. So, the demand for organic fertilizers is on the rise, as farmers try to strike a balance between feeding us and protecting the planet. In Asia Pacific, this trend is especially strong, but chemical fertilizers are still hanging on. Still, the shift to organic is expected to give the humic acid market a big boost in the coming years. This will help farmers maintain the health of their soil and support biodiversity for generations to come.
The global humic acid industry share is majorly driven by shifting focus toward organic fertilizers over chemicals. Government initiatives toward boosting organic farming methods to achieve environmental sustainability, particularly in countries including the U.S. and China, have substantially propelled the humic acid demand across the globe for agriculture applications. Furthermore, the adverse environmental and health effects of chemical fertilizers will stimulate product demand. Strong growth indicators in organic farming in recent years across countries including India on account of growing awareness of product benefits will positively influence the global humic acid market size.
Sluggish growth trends are being witnessed in emerging economies, primarily in Asia Pacific, owing to the limited awareness of organic fertilizers among farmers, which is expected to hamper the market demand during the forecast period. Conventionally, chemical-based fertilizers are used in these regions for agricultural practices, which are expected to show negative impacts over the coming years. These negative impacts caused by chemical fertilizers are due to prolonged use, which will subsequently lead to the formulation of stringent regulations by the government against the use of chemical-based fertilizers.
The lack of stringent regulations in emerging economies is a key factor, which is expected to impede the humic acid business share over the projected timeframe. For instance, the European Commission and the U.S. Department of Agriculture have imposed strict regulations against the use of chemical-based fertilizers. Due to this, changing market trends are being witnessed in these developed regions and farmers are increasingly adopting organic-based fertilizers to enhance crop productivity.
Humic Acid Market Analysis
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Humic acid market from agriculture segment is estimated to surpass USD 650 million by 2028. Humic acid is a large & complex molecule, which is extracted from organic matter and widely used in different agricultural applications. It can provide natural nutrients, essential metals, and vitamins for the growth of agriproducts. The properties of humic acid improve soil fertility in the long run upon imparting desired nutrient value to the soil, which will help in enhancing the overall crop yield.
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The Growing Demand for Humic Acid in Asia Pacific Picture a world where the ground beneath our feet is teeming with life and vitality. That's exactly what humic acid can do for our crops and soil. It's no wonder that the Asia Pacific region, with its vast agricultural lands, is expected to see a huge surge in demand for humic acid in the coming years. We're talking a whopping 270 kilo tons by 2028! Why all the buzz? Well, for starters, Asia Pacific is a major player in global agriculture, and a rising population means we need to get more bang for our buck with our crops. Humic acid helps plants grow bigger and stronger by giving them the nutrients they need. It also makes soil more fertile in the long run, which is a major bonus for farmers. But it's not just farmers who are excited about humic acid. Governments in the region are also on board, recognizing its potential to boost agriculture and make their countries more food-secure. They're investing heavily in research and development, as well as providing farmers with incentives to use humic acid. Of course, there are still some challenges ahead. Some farmers may not be aware of the benefits of humic acid, but as word spreads, we can expect even greater adoption. And with the North American humic acid industry projected to grow by over 12.8% each year, it's clear that this is a trend that's here to stay. So, what's the takeaway? Humic acid is a game-changer for agriculture, and Asia Pacific is poised to lead the way. With government support and growing awareness, we can expect to see even more productive farms, healthier soil, and a brighter future for agriculture in the region.
Humic Acid Market Share
The humic acid industry is moderately consolidated with the presence of several small- to large-scale companies around the globe. Humic acid manufacturers are focusing on the research & development of new technologies and products to enhance their service portfolios to cater to the growing demand for humic acid. Enhancement in the product landscape and strategic joint ventures are key initiatives in the global humic acid market.
Some of the key manufacturers include
- The Andersons, Inc.
- Daymsa
- Black Earth Humic LP
- Biolchim S.p.A
- Faust Bio-Agricultural Services, Inc.
- Humintech GmbH
- Agbest Technology Co.
- Changsha Xian Shan Yuan Agriculture and Technology Co., Ltd.
- Everwood Farm Nutri-Tech Solutions Pty. Ltd
- Agriculture Solutions Inc.
- Humic Growth Solutions, Inc.
- Nature’s Lawn & Garden, Inc.
- Sikko Industries Ltd.
- Manidharma Biotech Private Limited
- Tagrow Co., Ltd.
- Grow More, Inc.
- WinField
- National Pesticides & Chemicals
- Organic Approach LLC
- Wilbur-Ellis Company LLC
- Jiloca Industrial, S.A.
- Saint Humic Acid
The humic acid market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2018 to 2028 for the following segments
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By Application
- Agriculture
- Ecological Bioremediation
- Horticulture
- Dietary Supplements
- Others
By Region
- North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Asia Pacific
- China
- Japan
- India
- Australia
- Indonesia
- Malaysia
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Egypt
