North America Humic Acid Market Insights Forecasts to 2032
- The North America Humic Acid Market Size was valued at USD 230 Million in 2022.
- The Market is Growing at a CAGR of 13.2% from 2022 to 2032.
- The North America Humic Acid Market Size is expected to reach USD 798 Million by 2032.
- North America is expected to grow the fastest during the forecast period.
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The North America Humic Acid Market Size is expected to reach USD 798 Million by 2032, at a CAGR of 13.2% during the forecast period 2022 to 2032.
Humic acid is an extensive organic material mixture produced mostly from the degradation of plant and animal matter. Humic acid is a molecule with a large molecular weight that is generally brownish. It has an acidic tendency and can combine with alkali metals and alkaline earth metals to produce salts. In agriculture, humic acid is commonly utilized as a soil conditioner. It enriches soil structure, increases water retention, and stimulates the growth of useful microbial populations. The humic acid industry has expanded due to increased recognition of its agricultural benefits, particularly with the push toward environmentally friendly and organic farming techniques. With rising environmental concerns, the prospective application of humic acid in bioremediation is being investigated more thoroughly. The North America humic acid market primarily serves the agricultural industry, but it also has applications in bioremediation, horticulture, and dietary supplements. The North American humic acid market is predicted to rise continuously, owing to the growing trend toward sustainable agriculture, active research and innovation in the agricultural sector, and growing knowledge of the numerous advantages of humic acid.
This research report categorizes the market for North America Humic Acid Market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the North America 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 sub-segments of the North America Humic Acid Market.
North America Humic Acid Market Report Coverage
|Market Size in 2022:||USD 230 Million|
|Forecast Period 2022-2032 CAGR:||13.2%|
|2032 Value Projection:||USD 798 Million|
|Historical Data for:||2019-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||110|
|Segments covered:||By Form, By Application, By Country, and COVID-19 Impact Analysis.|
|Companies Covered:||Wilbur-Ellis Company LLC, Faust Bio-Agricultural Services, Inc., Humic Growth Solutions, Inc., Grow More, Inc., Black Earth Humic, Nature’s Lawn & Garden, Inc., Everwood Farm, The Andersons, Inc., Agriculture Solution, Inc., Organic Approach, LLC and other key venders.|
|Pitfalls & Challenges:||COVID-19 Empact,Challenges, Future, Growth, & Analysis|
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The humic acid market in North America is a vital part of the worldwide agricultural and environmental industries. Given the region's enormous agricultural activity and the growing preference for environmentally friendly farming methods, humic acid, with its several benefits, is currently in substantial demand. Humic acid, a natural soil enhancer, has experienced significant acceptance as there is a growing interest in organic farming and sustainable agricultural techniques. It promotes a more natural farming ecology by enhancing soil health, structure, and water retention. Continuous research has resulted in the development of novel humic acid-based products that are customized to certain crops, soil types, or climatic circumstances. Furthermore, as the emphasis on conservation and sustainable practices develops, it also affects the application of humic acid in ecological bioremediation.
- In 2022, the powdered segment accounted for the largest revenue share of more than 53.8% over the forecast period.
Based on the form, the North America Humic Acid Market is segmented into powder, granular, and liquid. Among these, the powdered segment has the largest revenue share of 53.8% over the forecast period, due to its wide range of applications in various industries. This is due to its adaptability and a wide variety of uses, as well as the convenience of utilization, affordability, and regional agricultural practices. Humic acid powder is commonly used as a soil conditioner, helping to improve soil water retention, nutrient availability, and general fertility. It is frequently put into the soil or used as an ingredient in solid fertilizers. This type of humic acid, in the form of a fine powder, can be easily dispersed over wide areas and immediately incorporated into the soil. It stimulates microbial activity, which can result in improved soil structure over time. Furthermore, while the powdered form is widely consumed the liquid category has been exhibiting significant expansion potential, owing to the modernization of agricultural operations and the advantages of precise and rapid nutrient administration.
- In 2022, the industrial segment accounted for the largest revenue share of more than 64.2% over the forecast period.
On the basis of applications, the North America Humic Acid Market is segmented into agriculture, ecological bioremediation, horticulture, dietary supplements, and others. Among these, the industrial segment has the largest revenue share of 64.2% over the forecast period, due to the vast agricultural activities across the region. Humic acid's critical function in enhancing soil health, increasing crop yields, and transitioning to sustainable and organic agricultural practices has solidified its position in this segment. Humic acid can boost crop productivity, promote plant root growth, and improve crop health overall. It can also help to minimize soil erosion and boost fertility over time. Humic acid, a natural substance, is witnessing rising demand in the agriculture sector as the organic farming movement gains hold in North America.
The report offers the appropriate analysis of the key organizations/companies involved within the North America 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 current news and developments of the companies, which includes 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 Companies
- Wilbur-Ellis Company LLC
- Faust Bio-Agricultural Services, Inc.
- Humic Growth Solutions, Inc.
- Grow More, Inc.
- Black Earth Humic
- Nature’s Lawn & Garden, Inc.
- Everwood Farm
- The Andersons, Inc.
- Agriculture Solution, Inc.
- Organic Approach, LLC
Key Target Audience
- Market Players
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
This study forecasts revenue at global, regional, and country levels from 2021 to 2032. Spherical Insights has segmented the North America Humic Acid Market based on the below-mentioned segments:
North America Humic Acid Market, By Form
North America Humic Acid Market, By Application
- Ecological Bioremediation
- Dietary Supplements
North America Humic Acid Market, By Country
- United States
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