Global Humic Acid Market Size, Share, and COVID-19 Impact Analysis By Form (Powdered, Granular, and Liquid), By Application (Agriculture, Horticulture, Pharmaceuticals, Animal Feed and Others) and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030Industry: Chemicals & Materials
Global Humic Acid Market Insights Forecasts to 2030
- The global Humic Acid Market was valued at USD 545 Million in 2021.
- The Market is growing at a CAGR of 11.0% from 2022 to 2030
- The global Humic Acid Market is expected to reach USD 1394 Million by 2030
- The Asia Pacific is expected to grow the fastest during the forecast period.
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The global Humic Acid Market is expected to reach USD 1394 Million by 2030, at a CAGR of 11.0% during the forecast period 2022 to 2030. Government programmes promote organic farming practises attaining environmental sustainability, notably in nations like the United States and China, which have significantly increased the demand for humic acid in the market.
Humic acid is one of the key compounds composed mainly of coal, peat and soil. The last decomposition products, mainly found in the leonardite sediment layer, are made of decomposed plant and animal remains. It is used in horticulture, agriculture, nutritional supplements, and ecological bioremediation. Humic acid significantly improves agricultural yield and soil fertility because of its natural soil conditioning abilities. The agriculture industry has to develop as the global population rises. As more governmental and non-governmental organisations become aware of the advancements in agriculture, the agricultural sector and the demand for humic acid is growing. Because it boosts the soil's nutrient and water-holding capacity, humic acid is highly sought after in the agricultural industry. Humic acid is increasingly in demand in livestock as a supplement to animal diets. Additionally, people's preference for eating fresh foods and growing health consciousness is driving the market ahead. To improve nutrients, water retention, microbial growth, and soil structure, humic acid is widely utilised in fertilisers. It also aids in cleaning up pollution. Numerous biological, chemical and physical advantages of humic acid exist. Humic acid also boosts oxygen concentration and capability for exchange (CEC). The average person's ability to store more water improved soil fertility and plant development. In terms of its physical effects, humic acid promotes sandy and sandy soils by enhancing soil structure and lowering waterlogging and nitrogen levels. It assists in transforming sandy soil into rich soil through decay. The need for organic fertilisers and biostimulants is anticipated to increase as the organic food sector expands. The market under study will benefit from the strong rate at which the organic industry is expanding, particularly in Europe and North America. Cereals, fruits, and vegetables are frequently treated with biostimulants. The requirement for expanding organics chains in the nation is another factor driving demand in the North American region. Additionally, especially in the Asia-Pacific region, farmers are becoming more knowledgeable, which will benefit the humic acid market. These are further government policy initiatives that will have a favourable effect on the humic acid market.
Global Humic Acid Market Report Coverage
|Market Size in 2021:||USD 545 Million|
|Forecast Period:||2021 - 2030|
|Forecast Period 2021 - 2030 CAGR:||11.0%|
|2030 Value Projection:||USD 1394 Million|
|Historical Data for:||2017 - 2020|
|No. of Pages:||198|
|Tables, Charts & Figures:||108|
|Segments covered:||By Form, By Application, by Region|
|Companies Covered:||Agbest Technology Co. Limited, ARCTECH Inc, Black Earth Humic, Cifo SRL, Daymsa (DESARROLLO AGRICOLA Y MINERO SA), Humic Growth Solutions Inc, Humintech, JILOCA INDUSTRIAL SA, Saint Humic Acid, The Anderson Inc, and Xian Shan Yuan.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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This research report categorizes the Market for global Form based on various segments and regions, forecasts revenue growth, and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Global Humic Acid Market. Recent Market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the Market. The report strategically identifies and profiles the key Market players and analyses their core competencies in each global Humic Acid Market sub-segments.
- In 2021, the Powdered segment dominated the Market with the largest Market share of 40.1% and Market revenue of 218.54 Million.
Based on the Form, the global Humic Acid Market is categorized into Powdered, Granular and Liquid. In 2021, the Powdered segment dominated the Market with the largest Market share of 40.1% and Market revenue of 218.54 Million. Since Biotin's foundation of cryptocurrencies and created the Form industry, the Powdered segment is considered to be the dominant impact on the entire Form market. Humic acid is frequently utilised in powder form in horticulture, agriculture, and pharmaceutical applications. Among the several forms of humic acid, the powder is the one that is most frequently utilised. Humic acid powder currently holds a market share of little about 75%. The market is anticipated to be driven by the expanding uses of powdered form in horticulture, agricultural, and pharmaceutical applications.
- In 2021, the Agriculture segment accounted for the largest share of the Market, with 23.3% and a Market revenue of 126.98 Million.
Based on the Application, the Humic Acid Market is categorized into Animal Feed, Horticulture, Pharmaceuticals, Agriculture and Others. In 2021, the Agriculture segment accounted for the largest share of the Market, with 23.3% and a Market revenue of 126.98 Million. During the forecast period, the segment's growth is anticipated to be driven by millennials in developing in agriculture; humic acid is frequently used to encourage nutrient uptake, water holding capacity, microbial growth, and soil properties. Additionally, it helps to remove contaminants. Numerous biological, chemical and physical advantages of humic acid exist. Oxygen content and cation-exchange capacity (CEC) are both increased by humic acid. The improved soil fertility and plant growth are benefits of the average water retention capacity improvement. Inorganic fertilisers that are water-soluble are retained, while organic and mineral uptake is improved by humic acid. Plant enzymes, organic catalysts, microbial growth, root respiration, and root development are all increased by humic acid. Additionally, humic acid boosts the plant's natural resistance against pests and disease and enhances nutrient intake by 30%. Additionally, it promotes the growth of plants' chloroplasts, carbohydrates, and amino acids, which help with photosynthesis. The market for humic acid is being driven by all of these indicators of agricultural expansion, and it is anticipated that this market will continue to increase over the future years.
Regional Segment Analysis of the Humic Acid Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
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Europe emerged as the largest Market for the global Humic Acid Market, with a Market share of around 18.35% and 100.0 Million of the Market revenue in 2021.
- Europe emerged as the largest Market for the global Humic Acid Market, with a Market share of around 18.35% and 100.0 Million of the Market revenue in 2021. The demand for Humic Acids is being driven by the rising acceptance by the market. The largest economy in Europe is found in Germany, where agriculture occupies roughly half of the land. The third-largest exporter of agricultural products worldwide is this country. The primary crop in around one-third of Germany's agricultural area is grain, which is then followed by barley and rye. Additionally, animal feeds are essential in the process of producing food. Manufacturers of animal feed in Germany include, among others, Deutsche Tiernahrung Cremer GmbH & Co. KG, Worlée, and Kiwa. Over the course of the analysis period, more makers of animal feeds are anticipated to increase the demand for humic acid.
- Asia Pacific Market is expected to grow at the fastest CAGR between 2021 and 2030, owing to the increasing encouragement and benefits for foreign businesses to enter the region. The region is expanding because rising nations like China and India have acceptedHumic acid in the agriculture and pharmaceuticals market. The expansion of the region is also aided by significant players' strategic alliances and joint ventures.
The report offers the appropriate analysis of the key organizations/companies involved within the global Humic Acid Market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment Market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the Market.
List of Key Market Players:
- Agbest Technology Co. Limited
- ARCTECH Inc
- Black Earth Humic
- Cifo SRL
- Daymsa (DESARROLLO AGRICOLA Y MINERO SA)
- Humic Growth Solutions Inc
- JILOCA INDUSTRIAL SA
- Saint Humic Acid
- The Anderson Inc
- Xian Shan Yuan
Key Target Audience
- Market Players
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Some of the Key Developments:
- In February 2020- In Shelby, Montana, the United States, Humic Growth Solutions Inc. opened a new plant that will probably increase the output of humic acid.
- In July 2020- The completion of Black Earth Humic's acquisition of Humalite International, a Canadian business, was announced. As a result, the North American-made products of Humalite were strengthened.
- In September 2020- The humiZen product line was introduced by Black Earth Humic LP. By encouraging nutrient uptake, enhancing water retention, and delivering readily available carbon to regenerate healthy soil, the humiZen line assisted in making farmlands fertile and productive.
This study forecasts global, regional, and country revenue from 2021 to 2030. Spherical Insights has segmented the global Humic Acid Market based on the below-mentioned segments:
Global Humic Acid Market, By Form
Global Humic Acid Market, By Application
- Animal Feed
Global Humic Acid Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions (FAQ)
What is the market size of the Humic Acid market?As per Spherical Insights, the size of the Humic Acid market was valued at USD 545 million in 2021 to USD 1394 million by 2030.
What is the market growth rate of the Humic Acid market?The Humic Acid market is growing at a CAGR of 11.0% from 2021 to 2030.
Which country dominates the Humic Acid market?Europe emerged as the largest market for Humic Acid.
Who are the key players in the Humic Acid market?Key players in the Humic Acid market are Agbest Technology Co. Limited, ARCTECH Inc, Black Earth Humic, Cifo SRL, Daymsa (DESARROLLO AGRICOLA Y MINERO SA), Humic Growth Solutions Inc, Humintech, JILOCA INDUSTRIAL SA, Saint Humic Acid, The Anderson Inc, and Xian Shan Yuan.
Which factor drives the growth of the Humic Acid market?Rapid industrialization and urbanization is expected to drive the market's growth over the forecast period.
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