Global Humic Acid Market is estimated to reach $1,045 million by 2024 with CAGR of 11.9% between 2016 and 2024. Humic acid is derived from humus found in soil, sediment or aquatic surroundings. It is one of the most concentrated organic substances available. Their high cation-exchange capacity, oxygen content, and it ability to hold water above average enables them to improve soil fertility and plant growth. It is an excellent natural and organic method of providing plants and soil with concentrated amount of essential nutrients, vitamins, and trace elements. Moreover, it also reduces the dependence on water depending on the soil type, thereby saving water especially in arid areas.
Some of the major drivers of global humic acid market are increasing use of humic acid in horticulture, growing need to increase metabolism rate in humans, increasing trend of organic farming, and increasing concern over negative effects of chemical fertilizers. Though, lack of awareness among farmers, and unreliable quality of end products are the major challenges hindering the market growth. Furthermore, increasing R&D, and rise in market penetration in emerging economies would create growth opportunities in the coming years.
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The global humic acid market is segmented as crop type, application, and geography. Crop type is bifurcated as row crops, fruits and vegetables, turf and ornaments, and others. Application includes foliar, soil, and seed.
By geography, the global humic acid market is segmented into North America, Europe, Asia-Pacific, and Rest of the world (RoW). The U.S., Canada, and Mexico are covered under North America wherein Europe covers England, Scotland, Wales, Northern Ireland, Germany, France, and Rest of Europe. Asia-Pacific covers China, Japan, India, Australia, and Rest of Asia-Pacific. Rest of the World covers South America, Middle East, and Africa.
The major players include Black Earth Humic LP, Biolchim S.p.A., Minerals Technology Inc., Arihant Bio Fertichem Pvt. Ltd., BASF SE, Novozymes A/S, Yara International ASA., Humic Growth Solutions, Inc., Vellsam Materias Bioactivas S.L., and China Green Agriculture Inc., among others.
The key takeaways from the report
- The report will provide a detailed analysis of Global Humic Acid Market with respect to major segments such as crop type, and application
- The report will include the qualitative and quantitative analysis with market estimation over 2015 – 2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Global Humic Acid Market from 2015 to 2024 will be included in the report
- Profile of the key players in the Global Humic Acid Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Humic Acid Market
Crop Type Segments
- Row Crops
- Fruits and Vegetables
- Turf and Ornaments
- Other Crop Types
- Northern Ireland
- Rest of Europe
- Rest of Asia-Pacific
- South America
- Middle East
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