IMARC Group, a leading market research company, has recently releases report 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",Offers a comprehensive analysis of the industry, which comprises insights on the global humic acid market.
How Big Is the Humic Acid Market?
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.
Industry Overview of Humic Acid
Humic acid is a natural organic substance derived from decaying plant and animal matter. It is usually found in soil, peat, and other organic materials. It is a complex mixture of compounds that plays a crucial role in soil health and plant growth. It has the capacity to chelate or bind with essential minerals and nutrients in the soil, such as iron, calcium, and magnesium, which makes it more readily available for plants to absorb. It can help buffer soil potential of hydrogen (pH) levels, making it more stable. It acts as a soil conditioner by enhancing soil aggregation and aeration, which, in turn, improves water retention and drainage. It allows crops to withstand environmental stresses, such as drought, salinity, and extreme temperatures effectively, leading to healthier and more resilient crops. It ensures a consistent and prolonged nutrient supply to plants, especially valuable in areas with nutrient-poor soils or where nutrient losses are common. It assists in improving soil structure and enhancing nutrient availability to plants. It aids in improving drought resistance in plants and maintaining consistent soil moisture levels. Besides this, it fosters the growth of beneficial soil microorganisms, which play a vital role in nutrient cycling and soil health. As it can promote quicker and more uniform seed germination and reduce the need for chemical fertilizers and pesticides, the demand for humic acid is rising across the globe.
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What are the growth prospects and trends in the humic acid industry?
Presently, the escalating demand for humic acid in environmental remediation projects to mitigate soil and water pollution represents one of the significant factors strengthening the growth of the market. Apart from this, its increasing adoption, as it benefits in the removal of impurities and pollutants from water, is bolstering the market growth. Additionally, there is a rise in the need to maximize crop yields to fulfill the food product requirements of people around the world.
This, coupled with the increasing employment of humic acid, as it is compatible with organic farming practices, is offering lucrative growth opportunities to industry investors. In line with this, the growing demand for efficient nutrient management solutions in modern agriculture, along with the rising awareness among farmers and agricultural professionals about the importance of soil health, is positively influencing the market. Moreover, the increasing focus on conserving water resources in agriculture is contributing to the growth of the market.
Besides this, the rising utilization of humic acid in horticulture due to its ability to improve soil quality in gardens and landscaping is supporting the market growth. In addition, governing agencies of various countries are encouraging the adoption of humic acid by offering incentives and subsidies for sustainable agricultural practices, which is propelling the growth of the market. The growing demand for humic acid, as it enhances nutrient content and improves taste, is also offering a positive market outlook.
Leading Companies Operating in the Global Humic Acid Industry:
- 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.
Humic Acid Market Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Form:
- Powdered
- Granular
- Liquid
Breakup by Sales Channel:
- Direct
- Indirect
Breakup by Application:
- Agriculture
- Animal Feed
- Pharmaceuticals
- Horticulture
- Others
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
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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