Market Size – USD 388.02 million in 2018, Market Growth - CAGR of 6.1%, Market Trends – Growing demand from various application
New York, NY -- (SBWIRE) -- 03/08/2021 -- The global Humic Acid Market is expected to reach USD 624.98 million by 2026, according to a new report by Reports and Data. Growing demand of humic acid from various applications coupled with increasing adoption of organic farming globally is a key factor influencing market growth. Agricultural centers across the globe have been experimenting on the effect of humic acid on plants. According to available literature, the ability of soil to plant root growth does not depends only on the concentration of nutrients but also on its organic matter content, depth, texture, acidity and water-retention capacity. Based on results, humates have been found to influence crop yields by improving soil texture, water retention and nutrient buffering capacity
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In market segmentation by manufacturers, the report covers the following companies-: Nutri-Tech Solutions, Humintech GmbH, Humic Growth Solutions, Omnia Specialities, Canadian Humalite International, Grow More, AMCOl International and Jiloca International S.A. Humintech GmbH among others.
Europe is expected to grow at a CAGR of 6.4% in the forecast period. A number of crops and fruits & vegetables, which have been experimented for measuring the effect of humic acid, are grown on a large scale in Europe. Some of these include grapes, pears, tomatoes, potatoes, wheat and maize. Application of humic acid across these crops is expected to enhance the root-shoot growth and promote microbial activity. Along with this, humates are also responsible for improving the water-retention capacity and absorption of nutrients by plants. Based on experiments, treatment of humic acid on grapevines led to an increase in plant growth and nitrogen and chlorophyll content in leaves (measured using SPAD values). Along with this, the size of the grapes also increased thereby implying an increase in total yield.
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Further key findings from the report suggest
Pharmaceutical segment is projected to be one of the fastest growing applications of the Humic Acid. It is anticipated to grow at a CAGR of 5.7% in the forecast period. Humates which are formed from peat have been used for the treatment of gastric, intestinal and hepatic diseases. Humic acid is generally used for musculoskeletal disorders, gynecological problems and skin treatment. Adoption of humic acid in organic farming is expected to play a major role in improving the health of consumers across the globe.
Europe is projected to grow significantly in the forecast period. Manufacturers of animal feed in Europe are also anticipated to adopt humic acid as an ingredient. Increasing gastrointestinal infections coupled with the growing incidence of zoonotic diseases in the region is likely to lead to an increase in adoption of humic acid. Adoption of humic acid for producing animal feed is expected to ensure an improved utilization of nutrients in animals thereby stabilizing the feces consistency of animals.
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For the purpose of this report, Reports and Data have segmented global Humic Acid market on the basis of type, application and region:
Product Outlook (Volume, Kilo Tons; 2018-2026 and Revenue, USD Million; 2018-2026)
Application Outlook (Volume, Kilo Tons; 2018-2026 and Revenue, USD Million; 2018-2026)
Regional Outlook (Volume, Kilo Tons; 2018-2026 and Revenue, USD Million; 2018-2026)
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Some major points covered in this Humic Acid Market report:
An excessively meticulous study that helps in segmenting the useful data from the irrelevant.
The study has been segmented and sub-segmented into regions, end-users, applications, product types, players according to the influence they exercise in the Humic Acid market, their strategies, and the potential consumer bases that a new entrant can tap into.
In the next section, factors responsible for the growth of the market have been included. This data has been collected from the primary and secondary sources and has been approved by the industry specialists. It helps in understanding the key market segments and their future trends.
The participants of this industry who possess and employ influence over the Humic Acid market are highlighted in the study and their respective strategies to overcome the competition and challenges of the eco-system they perform in.
The Humic Acid market research report also presents an eight-year forecast on the basis of how the market is predicted to grow.
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Table of contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
3.1. Macro Indicators
3.1.1. Global consumption of fertilizers
3.1.2. Global fertilizer consumption by crop Product
3.1.3. Contribution of different sectors to global GHG emissions
3.1.4. Total Emissions (N2O) (Synthetic fertilizers) - Region wise
3.1.5. Region-wise area under organic farming
Chapter 4. Humic Acid Market Segmentation & Impact Analysis
4.1. Humic Acid Segmentation Analysis
4.2. Industrial Outlook
4.3. Regulatory Framework
4.4. Humic Acid Market Impact Analysis
4.4.1. Market driver analysis
220.127.116.11. Shift from conventional farming to organic farming
18.104.22.168. Rising awareness towards better plant nutrition
4.4.2. Market restraint analysis
22.214.171.124. Lack of universally accepted standard procedures
126.96.36.199. Limited array of environmental conditions
4.5. Porter's Five Force Analysis
4.6. PESTEL Analysis
Chapter 5. Humic Acid Market By Product Insights & Trends
5.1. Product Dynamics & Market Share, 2018 & 2026
5.2. Granular Humic Acid
5.2.1. Market estimates and forecast, 2016 – 2026 (USD Million) (Kilo Tons)
5.2.2. Market estimates and forecast, by region, 2016 – 2026 (USD Million) (Kilo Tons)
5.3. Powdered Humic Acid
5.3.1. Market estimates and forecast, 2016 – 2026 (USD Million) (Kilo Tons)
5.3.2. Market estimates and forecast, by region, 2016 – 2026 (USD Million) (Kilo Tons)
Chapter 6. Humic Acid Market By Application Insights & Trends