The latest research study “Humic Acid Market Share: Global Industry Trends, Share, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global humic acid market reached a value of US$ 545.9 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 988.4 Million by 2027 exhibiting a CAGR of 9.60% during 2022-2027.
Humic acid refers to an organic substance formed through the biological activities of microorganisms and the biological and chemical humification of animal and plant matter. It is commercially available in numerous liquid, powdered, and granular variants. It is a good source of essential nutrients, such as minerals, vitamins, potassium, phosphorous, and other trace elements. As a result, humic acid is widely used as a fertilizer additive to enhance soil fertility and texture, improve nutrient absorption and water retention, promote crop growth, and maintain the soil pH level.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Humic Acid Market Trends and Drivers:
The global humic acid market is primarily driven by the shifting inclination of farmers toward organic fertilizers due to the growing awareness regarding the harmful effects of chemicals. Additionally, there has been widespread adoption of humic acid in horticulture to enhance cation-exchange capacity (CEC) and oxygen content in the soil.
Along with this, the rising need for sustainable agriculture has augmented the demand for humic acid. Furthermore, the launch of bio-stimulants to promote plant growth by improving their tolerance to abiotic stresses and increasing grain yield quality has accelerated the product adoption rate.
Other factors, including the emerging applications in cosmetics, pharmaceutical, and nutraceutical industries, rising product usage in animal feed, increasing organic farming, and favorable government initiatives, are also anticipated to propel the market growth.
|Humic Acid Market Report Scope|
|Market size value in 2021||US$ 545.9 Million|
|Market forecast in 2027||US$ 988.4 Million|
|Growth Rate||CAGR of 9.60% from 2022 to 2027|
|Base year for estimation||2021|
Global Humic Acid Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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.
The report has segmented the market on the basis of region, form, sales channel and application.
Breakup by Form:
Breakup by Sales Channel:
Breakup by Application:
- Animal Feed
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
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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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.
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