The latest report by IMARC Group, titled “Humic Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” finds that the global humic acid market size reached US$ 603.8 Million in 2022. Humic acid (C9H9NO6) is a water-soluble organic substance that helps plant roots to receive water and nutrients. It encapsulates essential nutrients, such as potassium, phosphorous and vitamins, which are helpful in preventing soil erosion and maintaining soil texture, pH level, and moisture-holding capacity. It is widely available in the market in various forms and is extensively utilized in fertilizer additives to improve crop fertility and enhance plant growth.
Global Humic Acid Market Trends:
The market is primarily driven by the increasing utilization of humic acid in horticulture as it enhances the cation-exchange capacity (CEC) and oxygen content in the soil. In addition, the shifting inclination of farmers toward organic fertilizers due to harmful side effects of chemical fertilizers is contributing to the market growth. Besides this, the market is propelled by the introduction of bio-stimulants that supports plant growth by enhancing their tolerance to abiotic stresses. Moreover, humic acid is also used in animal feed to maintain the overall health of animals and increase milk production. Apart from this, governments of numerous countries are undertaking various initiatives to strengthen the agriculture sector. This, coupled with the rapidly growing population, which is escalating the demand for food, represents another major growth-inducing factor. Furthermore, the rising applications of humic acid in the cosmetics, pharmaceutical and nutraceutical industries are anticipated to propel the market growth. Looking forward, IMARC Group expects the market value to reach US$ 1,063.8 Million by 2028, expanding at a CAGR of 9.1% during the forecast period (2023-2028).
- On the basis of the form, the market has been classified into powdered, granular, and liquid.
- Based on the sales channel, the market has been bifurcated into direct and indirect.
- On the basis of the application, the market has been segmented into agriculture, animal feed, pharmaceuticals, horticulture, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined, with some of the key players being Agbest Technology Co. Limited, Arctech Inc., Black Earth Humic, Cifo Srl, Desarrollo Agrícola y Minero S.A., Humic Growth Solutions Inc., Humintech GmbH, Jiangxi Pingxiang Anhua Biotechnology Co. Ltd., Jiloca Industrial S.A. (JISA), Saint Humic Acid, The Andersons Inc. and Xian Shan Yuan Agriculture & Technology Co. Ltd.
|Base Year of the Analysis
||Form, Sales Channel, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Agbest Technology Co. Limited, Arctech Inc., Black Earth Humic, Cifo Srl, Desarrollo Agrícola y Minero S.A., Humic Growth Solutions Inc., Humintech GmbH, Jiangxi Pingxiang Anhua Biotechnology Co. Ltd., Jiloca Industrial S.A. (JISA), Saint Humic Acid, The Andersons Inc. and Xian Shan Yuan Agriculture & Technology Co. Ltd.
||10% Free Customization
|Report Price and Purchase Option
||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
134 N 4th St.
Brooklyn, NY 11249, USA
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800