The report of the global Humic acid market by Type(Powdered Humic Acid, Granular Humic Acid, Other), Application (Agriculture, Ecological bioremediation, Horticulture, Dietary supplements, Others) Region (North America, Europe, Middle East & Africa, South America, Asia Pacific) is expected to reach US$ XX Mn by 2027, at a CAGR of 12.60% during a forecast period.
The humic acid help to improve microbial activity, raise soil fertility, lessen fertilizer run-off and improving water retention are likely to promote the global industry growth. Its salts well-known as humates are gradually being used to decrease toxic effects from pesticides, heavy metals, and herbicides between some others. Therefore, increasing demand in horticulture and greenhouse cropping is expected to propel the industry growth. The humic acid market is directly reliant on the growing fame of the organic farming industry and the rising usage of organic minerals in horticulture and ecological remediation. Industry contributors are focused in the urbanized countries to meet the unceasingly growing local demand.
However, users are unaware of the concentration of humic acid in the product or about the variability and source material of products belonging to different manufacture batches.
The Agriculture segment is expected to grow at the highest CAGR of XX% during the forecast period.
Acceptance of granular form of humic acid is expected to increase at a significant rate in the coming years in the agriculture sector. In granular form, the humates are carried in convenient 2-4 mm granules and constitute nearly 70% humic acids. It provides all the benefits related to humic acid in a slow-release form thereby stabilizing inputs during the crop cycle. Existing scientific studies show that the fertility of the soil is determined to a very huge extent by the content of humic acids. Their high cation-exchange capacity (CEC), the oxygen content along with the above-average water holding capacity are the causes for the high value of using humic acids for improving soil fertility and plant growth. The most significant feature of humic acids lies in their ability to bind insoluble metal ions, hydroxides, and oxides, and to release them gently and constantly to plants when required.
North America dominated the Global Humic acid Market in 2019.
North America is a main consumer with highest demand attributable to U.S., where consumption is compelled by high demand for pollution detoxifiers and organic electrolytes. Growing biological stimulants consumption in agriculture will strengthen North America growth during the forecast period.
Asia Pacific led by China and India, holds major scope for humic acid for: cotton, grain, sugarcane horticulture, golf courses, greenhouse, etc. China’s government has a aim of being self-sufficient in essential foods such as corn, rice and wheat. Demand for organic food in the region is rising with rapid step. Though, due to the limited availability or production of organic food, the supply remains slow. Moreover, low productivity in organic farming related to the conventional one extends demand supply gap.
The key players operating in the global Humic acid market are Andersons, Inc. Everwood Farm, Nature’s Lawn & Garden, Faust Bio-Agricultural Services, Humintech GmbH, Changsha Xian Shan Yuan Agriculture and Technology, Agriculture Solutions Inc., NPK Industries, Nutri-Tech Solutions Pty Ltd., Tagrow Co. Ltd., WinField Solutions, Organic Approach LLC, National Pesticides & Chemicals, Sikko Industries Ltd., Wilbur-Ellis Company LLC.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Humic acid Market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Global Humic acid Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Humic acid Market positioning of competitors.
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