Humic acid market application includes agriculture, horticulture, dietary supplements, ecological bioremediation, and others such as residential gardening, vertical farms, medicines, etc.

Sellbyville, DE -- (SBWire) -- 03/13/2019 --Global Market Insights, Inc. adds new Humic Acid Market report which provides in-depth information about Industry overview, top vendors, Key market highlights, product types, drivers, challenges, trends, industry landscape, size and forecast.

Rising awareness about the health and environmental hazards associated with chemical fertilizers will positively influence the horticultural applications for the product. This segment will likely be valued over USD 200 million by 2024, witnessing growth at a significant rate.

Humic acid market will have growth trends particularly due to the demand for a wide range of applications from the sectors such as dietary supplements, horticulture, agriculture, ecological bioremediation and few others including residential farming, vertical farms, gardening, medicinal applications etc.

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In short run, the market growth will witness a restraint of less awareness regarding organic farming benefits in the developing agro-based economies like China, India, Brazil, etc. Also, the availability of low-cost chemical fertilizers and their nutrient composition might impact the product market growth negatively in the immediate future. As per the Department of Fertilizer under Indian Government, by 2020, the demand of urea is projected at over 35 kilo tons in the country, with a stable growth at over 3% CAGR. Such factors might have affect the humic acid industry growth negatively.

Agricultural application will hold the largest share in the market by 2024, due to growing inclination for organic farming especially in the developed economies. Several government grants and subsidiaries in different nations will further boost the segment growth.

European humic acid market will observe growth trends by 2024 owing to the rapidly growing regional organic sector. Funding initiatives by the government in association with the Common Agriculture Policy will propel the European market growth. The region is estimated to observe revenue more than USD 300 million in the forecast timeframe.

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In 2024, North America humic acid market will likely hold sway the global industry and will likely account for a revenue in excess of USD 400 million. Prevalence of United States organic food industry will positively influence on the regional industry growth in coming years.

Some key market participants are The Andersons, Humintech, Wilbur-Ellis Company, NPK Industries, Nature's Lawn & Garden, Black Earth Humic, Biolchim, Faust Bio-Agricultural Services, Grow More, Humic Growth Solutions, Nutri-Tech Solutions, National Pesticides & Chemicals, Tagrow, Agriculture Solutions, WinField Solutions, Saint Humic Acid, Organic Approach, Sikko Industries, and Jiloca Industrial.

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https://www.gminsights.com/industry-analysis/humic-acid-market

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