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Naturally, humic acids remain a major component which is gaining significance on its use among different players involved in this form of business mainly because of the environmental factor leading to changes within landscapes in terms of food production and consumption patterns environmentally-friendly solutions (Marx et al 68). All these indicate that humus can be applied across various industries thereby demonstrating its versatile uses.
A remarkable development in the Humic Acid market is its rising acclaim in agriculture. Humic acid, an all-natural organic compound obtained from decomposed plants and animal remains, has been increasingly appreciated for its role in fostering soil fertility and promoting plant growth. As a result of modern farming practices that are being threatened by issues such as soil degradability and sustainable use measures humic acid has had to be substituted for synthetic fertilizers as a soil conditioner as well as the stimulators of plant growth. These qualities have made it one of the major players within agricultural industry.
The demand for bio-stimulants and organic fertilizers is going up with every passing day. Biostimulants which include humic acid-based natural biostimulants can cut down on excessive usage of conventional fertilizers, promote plant growth and increase resistance to abiotic stresses and water deficits. Scientific studies have shown that biostimulants give marked positive effects on crop yields.
Humic acid fits really well into this concept because the demand for eco-friendly products that are also organic is increasing due to environmental consciousness. There has been an increase in consumer awareness about the impacts associated with agricultural activities; hence, many people are considering engaging in organic farming practices and sustainable land management systems. The demand for humic acid has gone up due to its ability to enhance organic farming through reducing reliance on synthetic fertilizers among other things.
Horticulture industry is experiencing a profound effect from increased application of humic acids. The advantages of adding humic acid as part of growing media or fertilizers especially to various crops are becoming more evident to horticulturists.Their popularity stems from their ability to increase nutrient availability, root development, overall strength of plants which accounts for their wide adoption in greenhouse and nursery operations.
Apart from agriculture, humic acid also finds use in environmental remediation particularly where concerns about pollution arising from the environment are raised. Natural qualities of humic acid make it efficient in neutralizing harmful effects of pollutants in soil and water. Environmental awareness resulting from pollution and contamination concerns has led to an increased demand for humic acid for environmental applications such as soil and water remediation.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | Increasing demand for humic acid in agriculture sector |
| Market Dynamics | Lower efficacy of humic acid |
Humic Acid Market Highlights:
Global Humic Acid Market Overview
Humic Acid Market Size was valued at USD 0.45 Billion in 2023. The Humic Acid industry is projected to grow from USD 0.51 Billion in 2024 to USD 1.14 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 10.69% during the forecast period (2024 - 2032). Increasing demand for humic acid in agriculture sector and rising use in animal feed are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Humic Acid Market Trends
Increasing demand for humic acid in agriculture sector is driving the market growth
Market CAGR for Humic Acid is being driven by increasing demand for humic acid in agriculture sector. The demand for humic acid in the agriculture sector has been increasing in recent years due to its potential benefits for soil health and plant growth. Humic acid improves soil fertility by enhancing nutrient availability and uptake. It acts as a chelating agent, binding to essential nutrients like nitrogen, phosphorus, and potassium, making them more accessible to plants. This helps optimize nutrient utilization and reduces nutrient leaching, leading to improved crop yields. Humic acid promotes root development, stimulates seed germination, and enhances plant growth. It aids in the formation of a favorable soil structure, allowing better root penetration and water infiltration. Additionally, humic acid stimulates beneficial microbial activity in the rhizosphere, leading to improved nutrient cycling and plant nutrient uptake.
Additionally, humic acid is compatible with organic farming practices since it is derived from natural sources and aligns with organic principles. Organic farmers are increasingly adopting humic acid-based products as part of their soil management strategies to improve soil health and optimize plant nutrition. The availability of humic acid-based products, such as humic acid fertilizers and soil amendments, has also contributed to the growing demand. These products are now more accessible to farmers through agricultural suppliers and retailers, making it easier for them to incorporate humic acid into their nutrient management programs.
October 2023
Leading provider of CleanTech solutions for the environment, Progressive Planet Solutions Inc., will introduce to the market this autumn a brand-new, all-natural soil conditioner that may be used on up to 1,355 acres. After CARBONTM PK, Progressive Planet's second patented product under the CARBONTM brand is CARBONTM Ca.
In Western Canada, 61 metric tons of CARBON Ca were sold for broadacre application during the product's original manufacturing cycle. Progressive Planet is currently strategically commercializing a patented chemical fertilizer replacement product for both spring and autumn applications, with CARBON PK and CARBON Ca, respectively, along with the introduction of a fall-application soil conditioner.
The trade-secret mixture of natural components known as CARBON Ca enriches soil with fulvic acid, humic acid, calcium, and carbon (humin). For plants to remain healthy and to produce food with more nutritional content, calcium is necessary. The goals of carbon (humin), humic acid, and fulvic acid are to enhance the physical characteristics of the soil and increase the availability of nutrients, which will enhance plant production and raise carbon residue levels, which in turn may raise the amount of carbon stored in soil organic matter. The results of preliminary third-party testing of CARBON Ca indicate an increase in available calcium in a water-soluble form of up to 187%. The company will seek measurements, validation, and support from third parties for carbon sequestration by evaluating any increases in soil organic matter and soil organic carbon.
Humic Acid Market Segment Insights
Humic Acid Applications Insights
The Humic Acid market segmentation, based on component includes agriculture, animal feed, dietary supplement, ecological remediation, and pharmaceuticals. The agriculture segment dominated the market, accounting for 35% of market revenue (0.15 Billion). Increasing awareness about the benefits of humic acid in improving soil fertility, nutrient absorption, and crop productivity is driving the growth of the agriculture application market for humic acid. The growing demand for organic farming practices and sustainable agriculture solutions is fueling the adoption of humic acid as a natural and eco-friendly soil conditioner, driving the growth of the humic acid market in agriculture applications.
The dietary supplement is expected to grow at the highest CAGR in the forecast period. Rising consumer interest in natural health and wellness products, coupled with the potential health benefits of humic acid, is driving the growth of the dietary supplement application market for humic acid.
For instance, the U.S Department of Agriculture(USDA), in March 2022, announced its plan to invest $250 million to increase fertilizer production such as humic acid and water soluble fertilizers in the region, which would provide farmers with better alternative choices of sustainable fertilizers
Urban Sardar was launched by GSFC in February 2022 for urban gardening using humic acid, minerals and vitamins. Moreover, government support and incentives regarding promoting sustainable agriculture are another factor that propels the market growth.
Figure 1: Humic Acid Market, by Applications, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Humic Acid Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Humic Acid market area will dominate this market, owing increasing adoption of modern agricultural practices and the need to improve crop productivity in countries like US and Canada are driving the growth of the humic acid market.
Further, the major countries studied in the market report are The US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: HUMIC ACID MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Humic Acid market accounts for the second-largest market share due to growing demand for organic food and sustainable agricultural practices in Europe is a key driver for the growth of the humic acid market, as it is widely recognized as a natural and environmentally friendly soil amendment. Further, the German Humic Acid market held the largest market share, and the UK Humic Acid market was the fastest growing market in the European region
The Asia-Pacific Humic Acid Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to humic acid has been increasingly recognized for its role in improving soil quality and crop productivity, driving its adoption in North America, which is driving the growth of the humic acid market. Moreover, China’s Humic Acid market held the largest market share, and the India Humic Acid market was the fastest growing market in the North America region.
Humic Acid Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Humic Acid market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Humic Acid industry must offer cost-effective solutions.
Competitors differentiate themselves by introducing innovative features, leveraging emerging technologies, and staying ahead of market trends. This can include integrating artificial intelligence, machine learning, or augmented reality into their collaboration solutions, providing advanced analytics capabilities, or offering unique user experiences in the Humic Acid industry to benefit clients. In recent years, the Humic Acid industry has offered some of the most significant advantages to agriculture. Major players in the Humic Acid market, including Everwood Farm, Tagrow Co. Ltd., Faust Bio-Agricultural Services, Nature’s Lawn & Garden, Humintech GmbH, Agriculture Solutions Inc., NPK Industries, Organic Approach LLC, National Pesticides & Chemicals and Others, are attempting to increase market demand by investing in research and development operations.
Everwood Farm is a leading agricultural company specializing in the production and distribution of high-quality humic acid-based products. With a strong focus on sustainable farming practices, they offer a wide range of humic acid solutions designed to enhance soil fertility, improve nutrient absorption, and promote plant growth. Leveraging cutting-edge research and advanced technology, Everwood Farm aims to support farmers in the Asia-Pacific region with eco-friendly and effective solutions, contributing to increased crop yields and overall agricultural productivity.
Humintech GmbH is a leading company specializing in the production and distribution of humic acid-based products for various industries, including agriculture. With a strong focus on research and innovation, Humintech offers a diverse range of high-quality humic acid products derived from natural sources, such as lignite and leonardite. These products are designed to improve soil fertility, enhance nutrient uptake, promote plant growth and development, and increase crop productivity. Humintech's expertise in humic acid allows them to develop tailored solutions for different agricultural applications, supporting sustainable farming practices and helping farmers optimize their yields while reducing environmental impact. The company operates ly, providing farmers, distributors, and industry professionals with effective and sustainable humic acid solutions.
Key Companies in the Humic Acid market include
- Everwood Farm
- Tagrow Co. Ltd
- Faust Bio-Agricultural Services
- Nature’s Lawn and Garden
- Humintech GmBH
- Agriculture Solutions Inc.
- NPK Industries
- Organic Approach LLC
- National Pesticides & Chemicals
Humic Acid Industry Developments
In October 2023, Progressive Planet Solutions Inc. introduced CARBO Ca, a natural soil enhancer that could be used on up to 1355 acres of land more, reducing chemical fertilizers used. CARBO Ca is a secret blend of organic components that enriches soils with calcium, carbon (humin), humic acid and fulvic acid.
February 2023: The Andersons Inc. debuted MicroMark® DG — a new range of granular micronutrients. These engineered plant nutrient products feature dispersing granule (DG) technology, meaning the resulting homogenous spherical granules can be easily blended and spread and, most importantly, are more effective.
In November 2022, Andersons, Inc (Nasdaq: ANDE) announced the acquisition of Bridge Agri Partners Inc. Bridge Agri Partners specializes in inputs for the pet food industry.
In November 2022 nematode treatments for pests were offered by Koppert.
Sept 2022 Paine Schwartz Partners, known for its dedication to sustainable food chain investments, has closed a significant strategic investment through Paine Schwartz Food Chain Fund VI (“Fund VI”) into Humic Growth Solutions (the “Company”). Humic Growth Solutions is a leading provider of humic acid products operating extensive manufacturing facilities both in the United States and Canada.
Humic Acid Market Segmentation
Humic Acid Applications Outlook
- Agriculture
- Animal Feed
- Dietary Supplement
- Ecological Remediation
- Pharmaceuticals
Humic Acid Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
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