Humic Acid Market Size, By Application (Agriculture, Ecological Bioremediation, Horticulture, Dietary Supplements), Industry Analysis Report, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

Published Date: Apr 2021  |  Report ID: GMI1517  |  Authors: Kiran Pulidindi, Hemant Pandey

Report Format: PDF   |   Pages: 187   |   Base Year: 2020




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Humic Acid Market size was USD 494.9 million in 2020 and is estimated to exhibit a CAGR of over 11.9% from 2021 to 2027. The growing organic food industry is anticipated to drive the industry growth over the forecast period.
 

Humic acid is a major component of humic substance, which are organic constituents of soil/humus, coal, and peat. It is also an organic constituent of various upland streams, ocean water, and dystrophic lakes. It is produced by biodegradation of dead organic substance. It is a complex mixture different acid containing phenolate groups and carboxyl.
 

Humic Acid Market Outlook

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Positive growth indicators in the agriculture, ecological bioremediations, horticulture, and dietary supplements industry were analyzed to be the major factors propelling the overall humic acid market growth over the estimated timespan. Humic acid is used to provide root system nourishment, prevention of soil erosion & nitrogen leaching, and increase the immune system in plants & human beings.
 

Rising awareness pertaining to the health benefits of the product will influence the dietary supplements application segment in the coming years. The dietary supplement application segment accounted for around 12.0% share in 2020 and has a huge growth potential during the forecast duration. It is gaining popularity for stimulating the human immune system and for detoxification of the human body. The mineral-rich content of the product also helps in tackling diseases such as influenza and common cold.
 

The environmental-friendly product will stimulate the product demand

Stringent regulations imposed by the government against the use of chemical-based fertilizers due to toxic & hazardous impacts on human life & the environment have eventually propelled humic acid use in farming. The government has been making consistent efforts to increase awareness among farmers for using organic-based fertilizers to enhance the overall crop yield by enhancing soil fertility.
 

Furthermore, humic acid use will consequently improve the nutritive value of the food, which will stimulate the product demand by 2027. The several benefits of humic acid for long-term use in the agriculture sector along with significant harmful impacts by using chemical fertilizers will propel the humic acid market share during the forecast period.
 

Humic acid demand for agriculture projected to grow at a 12% CAGR till 2027

Humic Acid Market by Application

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Humic acid demand from agriculture application is anticipated to grow at a CAGR of 12% and is expected to reach USD 610.5 million by 2027. Sturdy growth in the global population, urbanization, and industrialization has led to decreasing agricultural field area along with increasing food demand across the globe.
 

The world population is anticipated to grow and exceed nine billion by 2050 primarily due to the emerging economies. As per the WHO report, an increase of 50% in agricultural yield is needed to fulfill the growing food demand. Humic acid increases the nutritive value of the land as it contains organic elements needed to improve soil fertility, which will subsequently boost sustainable farming and henceforth will contribute to the increasing humic acid market size by 2027.
 

Dietary supplements will hold a significant market share over the forecast period

Dietary supplements are forecast to reach USD 124 million by 2027. Dietary supplements hold a moderate ability to capture the humic acid market size as they are utilized as a dietary supplement. It contains various nutrients including trace minerals, prebiotics, probiotics, electrolytes, and fatty acids that subsequently help in improving the immune system, boosts digestion, improves detoxification, etc.
 

Horticulture has moderate growth potential as these are employed in horticulture practices for the cultivation of fruits, vegetables, and ornamental crops. It is widely used for enhancing the growth of crops by complying with environmental regulations. It has attained a prominent market share and has a moderate ability to capture the humic acid market over the projected timeframe.
 

Horticulture segment generated revenue over USD 110 million in 2020 and is expected to reach USD 235.7 million by 2027 at a CAGR of 11.6%. Humic substances enhance root growth, nutrient uptake, and crop tolerance to environmental stresses. It acts as a plant hormone primarily in fruits, vegetables, and ornamental crops that improve the ability of plant development and its response to the surroundings.
 

In addition, it promotes antioxidant production in plants by reducing free radicals that tend to damage lipids, proteins, and DNA in plant cells. Humic acid decreases fertilizer requirements by up to 30% and reduces the production costs in horticulture. Such features of humic acid are expected to increase its market share in the horticulture application segment, improving the overall yield of plants during the forecast period.
 

Agriculture industry in Europe will drive the product demand

Humic Acid Market by Region

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Europe will account for close to 30% share in the global humic acid market in 2027 and is anticipated to grow at a CAGR of over 11% during the forecast timespan. This can be attributed to the growing organic farming trend and demand for organic products in Europe. Spain, France, the UK, and Germany will hold a significant market share with the presence of many farmers in the region. According to Eurostat, the region is witnessing a continuous increase in organic areas during the last decade. Some significant crops with higher prospects of humic acid usage include potatoes, sugar beet, olives, grapes, cereals, etc.
 

Increasing regulations by the European Commission have discouraged the use of chemical fertilizers owing to exceeding chemical content in the environment to prevent the disruption of soil structure. In addition, ecological bioremediation including wastewater treatment practice is encouraged in the industrial sector to attain sustainability in the environment. Humic acid is extensively used to neutralize pollutants from a contaminated site, driving the humic acid market share.
 

Major manufacturers are involved in merger & acquisition strategies

Companies are trying to increase their customer base through merger & acquisition strategies. For instance, in May 2015, The Anderson, Inc. acquired the plant nutrients business operations of Kay Flow Industries. The acquisition helped the company to expand its specialty fertilizers business.
 

Other major manufacturers working in the humic acid industry are Faust Bio-Agricultural Services, Black Earth, Sikko Industries, Daymsa, Biolchim, Changsha Xian Shan Yuan Agriculture, Humintech, Agbest Technology, Everwood Farm, Nature's Lawn & Garden, Tagrow., Grow More., WinField Solutions, National Pesticides & Chemicals, Manidharma Biotech, Organic Approach, Jiloca Industrial, Wilbur-Ellis Company, and Saint Humic Acid.
 

The humic acid market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilo Tons and revenue in USD Million from 2017 to 2027 for the following segments:

By Application

  • Agriculture
  • Ecological Bioremediation
  • Horticulture
  • Dietary Supplements
  • Others

The above information is provided on a regional and country basis for the following:

By Region

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

 

Frequently Asked Questions (FAQ) :

The global market for humic acid had reached a valuation of USD 494.9 million in 2020 and will expand at 11.9% CAGR up to 2027.
The agriculture applications is expected to register around 12% CAGR through 2027 with consistent rise in food demand worldwide.
The dietary supplements application segment is projected to surpass USD 124 million by 2027 owing to the need to improve immune systems and boost digestion.
Europe is anticipated to hold nearly 30% of global market share by 2027 and the expansion is due to organic farming practices in the region.

Premium Report Details

  • Published Date: Apr 2021
  • Pages: 187
  • Tables: 94
  • Charts / Figures: 33
  • Companies covered: 23
  • Countries covered: 18

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