Humic Acid Market Analysis

Humic Acid Market Analysis

Humic acid market from agriculture segment is estimated to surpass USD 650 million by 2028. Humic acid is a large & complex molecule, which is extracted from organic matter and widely used in different agricultural applications. It can provide natural nutrients, essential metals, and vitamins for the growth of agriproducts. The properties of humic acid improve soil fertility in the long run upon imparting desired nutrient value to the soil, which will help in enhancing the overall crop yield.
 

Asia Pacific humic acid market size will generate a demand for 270 kilo tons by 2028. Asia Pacific, led by China, accounts for a significant share in global agriculture production. The increasing need for enhanced crop production owing to the rising population are major factor propelling the regional market statistics. Government initiatives are another major factor, which will boost the market in this APAC region. Most of the developing countries in the region are agriculture-dependent due to which they are heavily investing in the agriculture and related sectors to increase the overall yield. However, factors including the lack of awareness among farmers will affect the regional growth. North America Humic Acid industry is expected to showcase over 12.8% CAGR in the coming years owing to the growing product demand from the agriculture industry to produce better quality crops.
 

Increasing product usage boosts soil fertility in the long run by imparting necessary minerals and nutrients to the soil. Asia Pacific led by China and India holds significant scope for humic acid in grains, cotton, sugarcane horticulture, golf courses, greenhouses, etc. The Government of China aims to be self-sufficient in staple foods such as corn, rice, and wheat. The region has increasingly shifted its focus to reforming agriculture. The nation is increasing the spending on water systems, seeds, robots & data science, and developing sustainable & high-yield farms.