The Global Humic Acid Market is expected to reach USD 1.06 billion by 2028, according to a new report by Reports and Data. Growing demand of Global Humic Acid from various applications coupled with increasing adoption of organic farming globally is a key factor influencing market growth.
Agricultural centers across the globe have been experimenting on the effect of Global Humic Acid on plants. According to available literature, the ability of soil to plant root growth does not depends only on the concentration of nutrients but also on its organic matter content, depth, texture, acidity and water-retention capacity. Based on results, humates have been found to influence crop yields by improving soil texture, water retention and nutrient buffering capacity
Europe is expected to grow at a CAGR of 6.4% in the forecast period. A number of crops and fruits vegetables, which have been experimented for measuring the effect of Global Humic Acid, are grown on a large scale in Europe. Some of these include grapes, pears, tomatoes, potatoes, wheat and maize. Application of Global Humic Acid across these crops is expected to enhance the root-shoot growth and promote microbial activity. Along with this, humates are also responsible for improving the water-retention capacity and absorption of nutrients by plants. Based on experiments, treatment of Global Humic Acid on grapevines led to an increase in plant growth and nitrogen and chlorophyll content in leaves (measured using SPAD values). Along with this, the size of the grapes also increased thereby implying an increase in total yield.
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The leading contenders in the global Global Humic Acid market are:
Humintech GmbH,
Humic Growth Solutions,
Omnia Specialities,
Canadian Humalite International,
Grow More,
AMCOl International and Jiloca International S.A. Humintech GmbH
Nutri-Tech Solutions,
Further key findings from the report suggest
Pharmaceutical segment is projected to be one of the fastest growing applications of the Global Humic Acid. It is anticipated to grow at a CAGR of 5.7% in the forecast period. Humates which are formed from peat have been used for the treatment of gastric, intestinal and hepatic diseases. Global Humic Acid is generally used for musculoskeletal disorders, gynecological problems and skin treatment. Adoption of Global Humic Acid in organic farming is expected to play a major role in improving the health of consumers across the globe.
Europe is projected to grow significantly in the forecast period. Manufacturers of animal feed in Europe are also anticipated to adopt Global Humic Acid as an ingredient. Increasing gastrointestinal infections coupled with the growing incidence of zoonotic diseases in the region is likely to lead to an increase in adoption of Global Humic Acid. Adoption of Global Humic Acid for producing animal feed is expected to ensure an improved utilization of nutrients in animals thereby stabilizing the feces consistency of animals.
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Market Overview:
Increasing consumer inclination towards sustainability and thus considering products based on criteria such as circularity and carbon footprint is expected to change materials and chemical market trends during in the coming years. The growing consumer concern about carbon emissions has prompted industry players to make investment in renewable energy, de-carbonization of transportation, and energy efficiency. These trends are expected to have a significant impact end markets for chemicals, notably in construction and automotive.
Increasing focus of the materials and chemical companies on adoption of de-carbonization technologies, re-examination of their assets, and diversification away from hydrocarbons to some extent will favor global Global Humic Acid market growth during the forecast period.
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Market Segmentation by Product Type:
Powdered Form
Granular Form
Market Segmentation by Application:
Agriculture
Industrial
Animal Feed
Pharmaceutical
Regional Analysis Covers:
North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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