28-Feb-2020 | Facts and Factors
Facts and Factors report “Humic Acid Market By Type (Granular Humic Acid and Powdered Humic Acid) and By Application (Agriculture, Ecological bioremediation, Horticulture, Dietary supplements, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global Humic Acid market in 2019 was around USD 550 Million. The market is expected to grow at a CAGR of 14% and is anticipated to reach around USD 1,500 Million by 2026.
Humic acid is a group of molecules that binds together and helps the roots of the plants in receiving water and essential nutrients. When the humic acids are high then the yield of the land increases. Humic acid plays an important role in growing crops and its deficiency can prevent farmers in growing good crops with abundant nutrients. The humic matter is made up of 70-80% of organic carbon in mineral soils which helps to increase the crop yield without having any adverse effects on the quality of the soil, improves the growth of microbes in the soil, and have healthier plants.
Browse the full “Humic Acid Market By Type (Granular Humic Acid and Powdered Humic Acid) and By Application (Agriculture, Ecological bioremediation, Horticulture, Dietary supplements, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" report at https://www.fnfresearch.com/humic-acid-market-by-type-granular-humic-acid-547
With the rapidly growing population and urbanization across the globe, it is necessary to fulfill the demands for food of the growing population with the limited natural resources available and also fight against the huge problem of food waste. Hence, there is a growing demand for sustainable agriculture with the intention of preserving the environment by safely utilizing natural resources. These sustainable agriculture practices are helping the humic acid market to grow as they do not negatively affect the soil, helps in retaining the nutrients of the soil and yield crop of good quality. The simple practices that are followed using the humic acid do not leave behind much carbon footprints. There is also a rising awareness among the people related to the negative impacts of using chemical fertilizers which in turn helps the humic acid market gain good market share and fulfill the demands for good fertilizers among the people. People have started preferring organic food lifestyles due to which the organic food industry is developing as per the demands of the people which is using humic acid as fertilizers for better growth of crops. But, the population that is aware of the benefits of humic acid is less due to which it has very low market penetration in various countries. It is necessary for the key players of this market to use various marketing strategies in reaching out to maximum customers and educating them about the benefits of humic acid over chemical fertilizers. There is also an opportunity for these companies in this market for developing a new product which would help them to get a good market share by providing a better quality of humic acid that will certainly provide better results to its customers in less time period.
As per the type analysis, the granular humic acid is expected to dominate the market as they are found to be more useful as compared with the powdered humic acid. In granular form, they are delivered in a convenient form of 2-4 mm granules and it consists of almost 70% humic acid. It provides all the benefits that are linked with humic acid in a slow-release form and stabilizes the input throughout the life cycle of the crop. As per the application analysis, the agricultural sector is expected to show the maximum usage of humic acid. Increasing awareness toward using organic fertilizers in enhancing the productivity and quality of the crops, maintaining the pH level of the soil, increasing the fertility of the soil are the benefits of using humic acid.
As per the regional analysis, the Asia-Pacific region is expected to dominate the market in the coming years as the Agricultural sector is considered to be the backbone in several countries in this region. Countries like China and India are self-sufficient in the production of various crops like rice, wheat, sugarcane, cotton, etc. As the countries belonging to the Asia Pacific region are in their growth phase with increasing industrialization and rapid urbanization it is necessary to fulfill the food demands of the growing population with the depletion in the availability of agricultural land. Hence the governments of these countries are encouraging the farmers for adopting organic farming that will result in growing good crops with maximum nutrients. Governments of these countries have imposed strict regulations chemicals due to which there is a shift in the trend that has replaced chemical fertilizer with organic fertilizer. There is also an increasing demand for organic food in this region due to the awareness of the effects of using chemical fertilizers on the crops and their impact on health.
The key players in the Humic Acid Market are as follows :
- AMCOl International
- PingxiangAnhua Biotechnology
- Nutri-Tech Solutions
- Humic Growth Solutions
- Jiloca International S.A
- Omnia Specialities
- Canadian Humalite International
- Koppert B.V.
This report segments the Humic Acid market as follows:
Global Humic Acid Market: By Type Segmentation Analysis
- Granular Humic Acid
- Powdered Humic Acid
Global Humic Acid Market: By Application Segmentation Analysis
- Ecological bioremediation
- Dietary supplements
Global Humic Acid Market: Regional Segmentation Analysis
- North America
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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