Humic Acid Market

Humic Acid Market Size:

The global humic acid market size reached US$ 658.7 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,358.1 Million by 2032, exhibiting a growth rate (CAGR) of 8.2% during 2024-2032. The market is experiencing steady growth driven by the growing need to enhance agricultural productivity, rising concerns about chemical pollution, soil degradation and environmental impact of conventional agriculture products, and increasing focus on soil remediation.

Humic Acid Market Analysis:

• Market Growth and Size: The market is witnessing strong growth, driven by the rising focus on sustainable agriculture, along with the increasing need for soil remediation solutions.
• Technological Advancements: The introduction of innovative humic acid formulations tailored as per specific applications and crops are facilitating the market growth. These advancements enhance the efficacy and usability of humic acid-based products.
• Industry Applications: Humic acid has diverse applications, such as spanning agriculture, horticulture, and environmental remediation. The versatility of humic acid broadens its market reach and potential consumer base.
• Geographical Trends: Asia Pacific leads the market, driven by the rising demand for food products and increasing population. However, North America is emerging as a fast-growing market on account of the increasing focus on maximizing crop yields.
• Competitive Landscape: Key players are expanding their product portfolios to offer a variety of humic acid-based products, including powders, granules, and liquid formulations.
• Challenges and Opportunities: While the market faces challenges, such as the need for consistent product quality, it also encounters opportunities in rising food security concerns.
• Future Outlook: The future of the humic acid market looks promising, with the increasing awareness about the importance of sustainable agriculture. In addition, the rising focus on environmental restoration is anticipated to propel the market.
   

Humic Acid Market Trends:

Growing need to enhance agricultural productivity

The increasing demand for humic acid to enhance agricultural productivity sustainably is contributing to the growth of the market. In line with this, humic acid acts as a natural soil conditioner that assists in improving soil structure and nutrient-holding capacity. This, in turn, enables better absorption of essential nutrients by plants, leading to increased crop yields. Furthermore, humic acid aids in water retention within the soil, reducing the need for excessive irrigation and conserving water resources. Apart from this, humic acid can stimulate beneficial microbial activity in the soil and contribute to enhanced plant health. As a result, farmers and growers are incorporating humic acid-based products into their agricultural practices to achieve higher yields, improve crop quality, and reduce the reliance on chemical fertilizers. In addition, eco-friendly and economically beneficial aspects make humic acid a suitable product in agricultural practices.

Rising environmental concerns

The growing demand for humic acid on account of the increasing environmental consciousness is offering a positive market outlook. In line with this, rising concerns over chemical pollution, soil degradation, and the environmental impact of conventional agriculture products are impelling the growth of the market. Moreover, increasing preferences for sustainable and eco-friendly practices are bolstering the market growth. Besides this, humic acid aligns with these concerns as it is a naturally occurring organic substance. In addition, humic acid is an attractive choice for those looking to minimize the use of synthetic chemicals in farming. Furthermore, it can enhance soil health and structure without harmful side effects on the environment. Apart from this, the rising adoption of humic acid in organic and regenerative farming systems is supporting the market growth. Additionally, humic acid promotes carbon sequestration in the soil, aiding in the fight against climate change. It has a non-toxic nature, which makes it suitable for soil remediation in areas affected by pollution.

Increasing focus on soil remediation

The growing demand for soil remediation due to the increasing soil pollution and degradation is positively influencing the market. In addition, humic acid plays a pivotal role in cleaning up contaminated soils. Besides this, heavy metals, toxins, and pollutants in the soil pose a significant threat to environmental and human health. Additionally, humic acid can bind with these contaminants, immobilizing them and reducing their mobility and bioavailability. This action prevents the further spread of pollutants and minimizes the risk of groundwater contamination. Furthermore, humic acid can improve the overall health of polluted soils by restoring their natural structure and microbial activity. In line with this, it acts as a catalyst for the breakdown of organic pollutants, facilitating the remediation process. Moreover, governing and environmental agencies are increasingly recognizing the potential of humic acid in soil cleanup efforts, which is supporting the market growth. Apart from this, the rising focus on more sustainable and ecologically responsible agricultural practices is impelling the market growth.

Humic Acid Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on form, sales channel and application.

Breakup by Form:

• Powdered
• Granular
• Liquid
   

The report has provided a detailed breakup and analysis of the market based on the form. This includes powdered, granular, and liquid.

Powdered humic acid is a popular form in agriculture due to its ease of application. It can be easily mixed with soil, fertilizers, or other inputs. In addition, it is often preferred for soil conditioning and as a seed treatment to enhance germination rates. Powdered humic acid is also used in the production of humic acid-based products for gardening and landscaping.

Granular humic acid is commonly used for long-term soil improvement. It is applied directly to the soil and gradually releases humic substances over time. It is favored in applications where a slow release of humic acid is desired, such as in turf management, golf courses, and large-scale agricultural operations. Besides this, granular forms are suitable for organic farming practices.

Liquid humic acid is versatile and easy to apply through irrigation systems or as foliar sprays. It offers rapid nutrient uptake by plants due to its liquid form, making it suitable for crop nutrition and stress management. Liquid humic acid is also utilized in hydroponics and aquaponics systems. It can be blended with other liquid fertilizers and agrochemicals for customized applications.

Breakup by Sales Channel:

• Direct
• Indirect
   

A detailed breakup and analysis of the market based on the sales channel have also been provided in the report. This includes direct and indirect.

Direct sales involve the manufacturer or producer selling humic acid products directly to end-users, such as farmers, agricultural cooperatives, and large-scale growers. Manufacturers often establish their sales teams or utilize online platforms to directly reach out to their buyers. Direct sales allow for better communication between manufacturers and end-users, providing product information, technical support, and tailored solutions. This channel is commonly used for bulk orders and customized product formulations to meet specific agricultural needs.

Indirect sales involve intermediaries or distribution networks between the manufacturer and end-users. These intermediaries can include distributors, retailers, agricultural supply stores, and local dealers. Indirect channels provide convenience to buyers by offering a wide range of agricultural products in one place. They also offer localized support and faster access to products. This channel is often used for smaller-scale purchases, such as by individual gardeners or small-scale farmers.

Breakup by Application:

• Agriculture
• Animal Feed
• Pharmaceuticals
• Horticulture
• Others
   

Agriculture represents the leading market segment

The report has provided a detailed breakup and analysis of the market based on the application. This includes agriculture, animal feed, pharmaceuticals, horticulture, and others. According to the report, agriculture represented the largest segment.

The rising employment of humic acid in the agriculture sector to improve soil health, enhance nutrient uptake by plants, and increase crop yields is contributing to the market growth. In line with this, humic acid is applied directly to the soil or mixed with fertilizers to enhance their effectiveness. It is commonly used in both conventional and organic farming practices to promote sustainable agriculture. 

The increasing usage of humic acid in animal feed formulations, primarily in livestock farming, is impelling the market growth. In line with this, the inclusion of humic acid in animal diets assists in improving digestion, nutrient absorption, and overall health in livestock. Moreover, it is beneficial in enhancing the productivity and growth of animals, which is bolstering the market growth.

The growing demand for humic acid in the pharmaceuticals sector due to its potential health benefits is offering a positive market outlook. Apart from this, it is found in some over the counter (OTC) dietary supplements. Furthermore, it may have medicinal properties, including antioxidant and anti-inflammatory effects.

Horticulture encompasses various applications, including gardening, landscaping, and greenhouse cultivation. In addition, humic acid is used to enhance plant growth, root development, and overall plant health in horticultural practices. Moreover, it is valued for its ability to improve soil structure in gardens and ornamental plantings.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Asia Pacific leads the market, accounting for the largest humic acid market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include 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. According to the report, Asia Pacific accounted for the largest market share due to the rising demand for food products among the masses. In line with this, the increasing focus on enhancing yields and improving soil quality is bolstering the growth of the market. Moreover, rapid industrialization is leading to soil pollution and degradation, making soil remediation a critical concern. Furthermore, the escalating demand for humic acid to restore soil health is propelling the market growth.

North America stands as another key region in the market, driven by the presence of well-established and technologically advanced agriculture sector. Apart from this, the growing demand for humic acid on account of the rising focus on maximizing crop yields, reducing environmental impact, and adhering to sustainable farming practices is contributing to the market growth in the region.

Europe maintains a strong presence in the market, with the increasing focus on reducing the reliance on synthetic chemicals. In addition, stringent environmental regulations are impelling the market growth in the region. Moreover, the rising awareness about sustainable and organic farming among farmers is bolstering the market growth.

Latin America exhibits growing potential in the humic acid market on account of the increasing employment of humic acid to improve soil quality, increase nutrient retention, and enhance crop yields. Besides this, the rising demand for eco-friendly farming practices that reduce the need for chemical fertilizers is propelling the market growth.

The Middle East and Africa region shows a developing market for humic acid, primarily driven by the increasing focus on environmental sustainability. In line with this, the rising usage of humic acid on account of the burgeoning horticultural sector, including fruit and vegetable production, is contributing to the growth of the market in the region.

Leading Key Players in the Humic Acid Industry:

Key players in the market are investing in research and development (R&D) activities to develop innovative humic acid formulations, including new product types, application methods, and blends that cater to specific crop types and soil conditions. In addition, companies are expanding their product portfolios to offer a variety of humic acid-based products, including powders, granules, and liquid formulations. This diversification allows them to serve a broader consumer base and cater to different agricultural and horticultural needs. Furthermore, major manufacturers are ensuring high product quality and consistency and are implementing stringent quality control measures to maintain product standards, which is bolstering the market growth.

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• Agbest Technology Co. Limited
• Arctech Inc.
• Black Earth Humic
• Cifo Srl
• Desarrollo Agrícola y Minero S.A.
• Humic Growth Solutions Inc.
• Humintech GmbH
• Jiangxi PingxiangAnhua Biotechnology Co. Ltd.
• Jiloca Industrial S.A. (JISA)
• Saint Humic Acid
• The Andersons Inc.
• Xian Shan Yuan Agriculture & Technology Co. Ltd.
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Latest News:

• July 9, 2020: Black Earth Humic announced the acquisition of Canadian Humalite International. This combination marks a strengthening of Canadian humalite based products produced in North America. It allows the organization to be better positioned to serve individuals and compete in the global marketplace.
• February, 2023: The Andersons Inc. launched of a new line of granular micronutrients branded MicroMark® DG. These engineered plant nutrient products feature dispersing granule (DG) technology, resulting in homogenous spherical granules for easier blending, spreading, and most importantly increased efficacy. MicroMark DG B is a blend of calcium, sulfur, boron, manganese, and zinc. MicroMark DG Humic is a unique blend of calcium, sulfur, manganese, and zinc. It also includes humic acid, a natural chelator of micronutrients.
• September, 2022: Humic Growth Solutions Inc., a leading developer of humic acid products with a strong manufacturing presence in the United States and Canada received a second strategic investment from Paine Schwartz Partners. This will allow Humic Growth Solutions to enhance its industry-leading capabilities, deliver the highest quality products, and help pave the way for regenerative and sustainable agriculture solutions. 

Humic Acid Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the humic acid market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global humic acid market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the humic acid industry and its attractiveness. 
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.