Global Humic Acid Market to Reach US$ 1,358.1 Million by 2032, Stimulated by Increasing Adoption of Organic Farming Practices

December 18, 2023 | Chemical & Materials

According to the latest report by IMARC Group, titled “Humic Acid Market Report by Form (Powdered, Granular, Liquid), Sales Channel (Direct, Indirect), Application (Agriculture, Animal Feed, Pharmaceuticals, Horticulture, and Others), and Region 2024-2032,” the global humic acid market size reached US$ 658.7 Million in 2023. Humic acid is a natural organic substance derived from decaying plants and organic matter over an extended period of time. It is a key component of humus, which is the dark, organic material found in soil. Humic acid is characterized by its complex structure and is rich in carbon and other essential nutrients. This natural compound plays a pivotal role in soil health and fertility, serving as a crucial component in improving soil structure, nutrient absorption, and overall soil quality. Humic acid is typically extracted from sources like peat, lignite, and leonardite, and it is available in various forms, including powders, granules, and liquid solutions.

Global Humic Acid Market Trends:

Agricultural practices are increasingly embracing the use of humic acid-based products as a means to enhance soil structure, water retention, and nutrient uptake, thereby improving crop yields and quality, which is primarily driving the global market. Humic acid's natural ability to bind with heavy metals and toxins in soil and water makes it a valuable tool in soil and water treatment processes to mitigate environmental pollution, particularly in industrial and mining areas. In confluence with this, the surging demand for organic and eco-friendly products across various industries, including cosmetics, animal feed, and pharmaceuticals, is fueling the expansion of the humic acid market. At the same time, its bio-stimulant properties and potential health benefits for animals and humans are presenting lucrative opportunities for market growth. Moreover, ongoing research and development (R&D) activities aimed at optimizing production processes and developing innovative applications are contributing to the market growth. Concurrent with this, significant technological advancements leading to the development of more efficient and cost-effective humic acid products are boosting the market growth. Additionally, the increasing awareness regarding the importance of sustainable practices in agriculture and environmental conservation is positioning humic acid as a crucial component in organic farming as it acts as a natural soil conditioner and fertilizer, enhancing soil fertility without the use of synthetic chemicals. Furthermore, the world's steadily increasing population creating an intensifying need to maximize crop yields to meet the rising food demands, combined with the versatility of humic acid across multiple sectors, including agriculture, horticulture, and aquaculture, is strengthening the market growth. Looking forward, the market value is projected to reach US$ 1,358.1 Million by 2032, expanding at a CAGR of 8.2% during 2024-2032.

Market Summary:

  • Based on the form, the market has been segmented as powdered, granular, and liquid.
  • On the basis of the sales channel, the market has been bifurcated into direct and indirect.
  • On the basis of the application, the market has been categorized as agriculture, animal feed, pharmaceuticals, horticulture, and others. Among these, agriculture dominates the market, holding largest market share.
  • Region-wise, the market has been segmented 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 the Middle East and Africa. Currently, Asia Pacific enjoys the leading position in the market.
  • The competitive landscape of the market 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., Xian Shan Yuan Agriculture & Technology Co. Ltd, etc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Million
Scope of the Report Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
  • Form
  • Sales Channel
  • Application
  • Region
Forms Covered Powdered, Granular, Liquid
Sales Channels Covered Direct, Indirect
Applications Covered Agriculture, Animal Feed, Pharmaceuticals, Horticulture, Others
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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., Xian Shan Yuan Agriculture & Technology Co. Ltd, etc.
Customization Scope 10% Free Customization
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Global Humic Acid Market to Reach US$ 1,358.1 Million by 2032, Stimulated by Increasing Adoption of Organic Farming Practices
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