Humic Acid Market Size By Application (Agriculture, Ecological Bioremediation, Horticulture, Dietary Supplements), Industry Analysis Report, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026

Published Date: Jan 2020  |  Report ID: GMI1517  |  Authors: Kiran Pulidindi, Hemant Pandey

Report Format: PDF   |   Pages: 152   |   Base Year: 2018




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Humic Acid Market size is estimated to exhibit over 14% CAGR by 2026 from USD 510.9 million in 2018. Increasing population and changing food consumption pattern due to increasing health awareness is projected to boost the humic acid demand over the forecast period.
 

Humic Acid Market Overview

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Humic acid is a major component of humic substances, which are the constituents of coal, peat and soil. It is the final break-down constituent of natural animal and plant decay material and is mainly found in leonardite sedimentation layers, which are products of lignite. It is used in agriculture, ecological bioremediations, horticulture, and dietary supplements applications. Humic acid is highly beneficial for soil’s fertility and crop yield as it is a natural soil conditioner and acts as a microbial stimulator or organic chelator.
 

The global humic acid market share is majorly driven by drifting focus towards organic fertilizers over chemical counterparts. Encouragement by the government towards boosting organic farming methods in order to achieve environment sustainability, particularly in countries including the U.S. and China, has substantially propelled the humic acid demand across the globe for agriculture applications. Strong growth indicators for organic farming in the recent years across countries including India on account of growing awareness towards product benefits, positively influences the global humic acid market. Furthermore, adverse environmental and health effects of chemical fertilizers stimulate product demand.
 

Rapidly growing population across the globe along with decreasing arable land due strong urbanization and industrialization will stimulate fertilizers demand in order to achieve high yields. For instance, The Food and Agriculture Organization (FAO) of the United Nations evaluated that the farmland productivity shall be elevated by approximately 15% in coming years to uphold global food consumption. This will result in propelling fertilizers demand, which in turn will drive the overall humic acid market growth by 2026.
 

Humic Acid Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: USD 510.9 Million
Historical Data for: 2015 to 2018 Forecast Period: 2019 to 2026
Forecast Period 2019 to 2026 CAGR: 14.0% 2026 Value Projection: USD 1.4 Billion
Pages: 152 Tables, Charts & Figures: 123
Geographies covered (21): U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, Saudi Arabia, Egypt
Segments covered: Application, Region
Companies covered (14): The Anderson, Inc., Black Earth Humic LP, Daymsa, Faust Bio-Agricultural Services, Inc., Biolchim S.p.A., Humintech GmbH, Changsha Xian Shan Yuan Agriculture and Technology Co., Ltd., Agbest Technology Co., Limited, Agriculture Solutions Inc., Humic Growth Solutions, Inc., Everwood Farm, Nutri-Tech Solutions Pty. Ltd., Nature's Lawn & Garden, Inc., Sikko Industries Ltd., Tagrow Co., Ltd., Grow More, Inc., WinField Solutions, LLC, Manidharma Biotech Private Limited, National Pesticides & Chemicals, Organic Approach LLC, Wilbur-Ellis Company LLC, Jiloca Industrial, S.A. and Saint Humic Acid
Growth Drivers:
  • Growing demand for sustainable agriculture
  • Rising awareness about the negative impacts of chemical fertilizers
  • Developing organic food industry
Pitfalls & Challenges:
  • Low market penetration in the developing countries
  • Inconsistent quality of end products

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Growth in organic farming shall drive the product demand

Humic Acid Market by Application

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Agriculture was the largest application segment in 2018 with market share of over 55% and expected to witness substantial CAGR over the forecast period. Increasing awareness towards using organic fertilizers to enhance crop productivity, which has several other benefits such as maintaining soil pH level, retaining soil structure, boosting soil fertility, etc. In addition, increasing environment regulations primarily in the U.S. and Europe against use of chemical fertilizers will have positive influence on the humic acid market trends by 2026.
 

According to the National Agricultural Statistics Service, in 2016 there are 14,000 certified organic farms in the U.S. which is 56% higher in comparison with 2011. As the organic farm increased organic product sale also increased in 2016 U.S. farms sold nearly USD 7.6 billion certified organic good, which was more than double the USD 3.5 billion sales in 2011. This rapid growth in organic farming in the country expected to boost the humic acid market demand for agriculture over the forecast period.
 

Organic industry growth in Europe shall have positive impact on the product demand over the forecast period. On account of increasing health awareness and regulations regarding pesticides usage in farms is expected to propel the organic farming growth during the projected timespan. For instance, according to the European Commission, Europe organic area increased by 70 % in the last ten years and organic retail sales reached USD 37 billion in 2017. Furthermore, Europe organic farming expected to exhibit massive growth in the coming years. In 2018, Europe imported 3.3 million tons agricultural organic products, which signifies a massive addressable market for organic farming and related industries in the region. Such factors accompanied with rising consumer inclination towards organic food consumption will positively influence the product penetration over the forecast timeframe.
 

Asia Pacific to witness substantial growth by 2026

Humic Acid Market by Region

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Increasing food demand due to rapidly growing population in the region expected to drive the humic acid market growth over the forecast period, as it helps to increase the productivity of crop. Moreover, prevailing industrialization and urbanization in the region has resulted in decreasing arable land which has eventually raised concerns for the government to meet growing food demand. Humic acid is an eco-friendly substitute to conventional fertilizers which helps in increasing overall yield in the limited land area.
 

Asia Pacific led by China and India, holds significant scope for humic acid for: grain, cotton, sugarcane horticulture, golf courses, greenhouse, etc. China’s government has a goal of being self-sufficient in staple foods like corn, rice and wheat. Demand for organic food in the region is growing with rapid pace. However, due to the limited availability or production of organic food, the supply remains slow. In addition, low productivity in organic farming compared to the conventional one widens demand supply gap.
 

Forward integration was the major strategy adopted by application players

Companies operating in the industry are adopting forward integration strategy to increase profitability. For instance, In May 2015, The Anderson purchased the plant nutrients business of Kay Flow Industries. This acquisition intends to expand specialty fertilizers business of The Andersons, Inc. The purchase includes three plant nutrient manufacturing & distributing assets and R&D facility. Other major players operating in the humic acid industry includes Black Earth, Biolchim, Humintech, Everwood, Tagrow and Winfield.
 

Humic Acid market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2015 to 2026, for the following segments:
 

Humic Acid Market Segmentation:

By Application

  • Agriculture
  • Ecological bioremediation
  • Horticulture
  • Dietary supplements
  • Others

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • France
    • UK
    • Spain
    • Germany
    • Italy
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • Indonesia
    • Malaysia
  • LATAM
    • Brazil
    • Mexico
  • MEA
    • Saudi Arabia
    • Egypt
    • South Africa
       

Frequently Asked Questions (FAQ) :

As per estimates, Humic Acid Market would account a CAGR of 5.5% through 2022.
The overall Humic Acid Market was valued at 18 billion in the year 2015 – 2022.
According to a report published by Global Market Insights, Inc., the humic acid market is expected to hit 1.4 Billion USD by 2026.
Growing demand for sustainable agriculture, rising awareness about the negative impact of chemical fertilizers and developing organic food industry are the major factors expected to drive the growth of global market.
Based on application, agriculture sector held the largest share in 2018 with the CAGR of 55% and is anticipated to exhibit remarkable growth rate from 2019 to 2026.
The Anderson, Inc., Black Earth Humic LP, Daymsa, Faust Bio-Agricultural Services, Inc., Biolchim S.p.A., Humintech GmbH, Changsha Xian Shan Yuan Agriculture and Technology Co., Ltd, Agbest Technology Co., Limited, Agriculture Solutions Inc., Everwood Farm, Nutri-Tech Solutions Pty. Ltd., ature's Lawn & Garden, Inc. and Sikko Industries Ltd. are some of the top contributors in the industry.

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Premium Report Details

  • Published Date: Jan 2020
  • Pages: 152
  • Tables: 93
  • Charts / Figures: 30
  • Companies covered: 14
  • Countries covered: 21

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