IMARC Group, a leading market research company, has recently releases report titled “Humic Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” The study provides a detailed analysis of the industry, including the global humic acid market share, size, growth, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Humic Acid
Humic acid is a natural organic substance that is derived from decayed plants and organic matter over time. It is characterized by its rich dark color and high carbon content that enhances soil health and promotes plant growth. It is a valuable soil conditioner and fertilizer additive due to its ability to improve nutrient absorption, water retention, and soil structure. It can chelate or bind with essential nutrients like iron, magnesium, and calcium to provide enhanced crops. It is more resilient to environmental stressors, such as drought, salinity, and extreme temperatures, helps plants withstand adverse conditions, and maintain their vitality. It plays a vital role in nurturing crop productivity, which makes it a key element in modern farming practices. Besides this, it assists in reducing water runoff and minimizing the need for frequent irrigation, which makes it especially valuable in areas with water scarcity or irregular rainfall.
How Big Is the Humic Acid Market?
The global humic acid market size reached US$ 658.7 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,358.1 Million by 2032, exhibiting a growth rate (CAGR) of 8.2% during 2024-2032.
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What are the growth prospects and trends in the humic acid industry?
At present, the rising adoption of humic acid, as it enhances soil aeration by preventing soil compaction, represents one of the major factors propelling the market growth. Besides this, the growing demand for sustainable and eco-friendly solutions is offering a positive market outlook. In line with this, the increasing adoption of humic acid as a soil conditioner and nutrient enhancer to avoid soil degradation is supporting the market growth.
Apart from this, the rising utilization of humic acid, as it reduces the need for synthetic fertilizers and pesticides, is offering lucrative growth opportunities to industry investors. Moreover, the growing adoption of humic acid due to the rising demand for enhanced food products among individuals is positively influencing the market. In addition, the increasing popularity of organic and sustainable farming practices worldwide is contributing to the market growth.
Furthermore, the rising need for agriculture solutions that mitigate soil erosion is strengthening the growth of the market. Moreover, governing agencies of various countries are promoting the adoption of organic farming by offering various subsidies and incentives, which is impelling the market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Form:
- Powdered
- Granular
- Liquid
Breakup by Sales Channel:
- Direct
- Indirect
Breakup by Application:
- Agriculture
- Animal Feed
- Pharmaceuticals
- Horticulture
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Agbest Technology Co. Limited
- Arctech Inc.
- Black Earth Humic
- Cifo Srl
- Desarrollo Agrícola y Minero S.A.
- Humic Growth Solutions Inc.
- Humintech GmbH
- Jiangxi PingxiangAnhua Biotechnology Co. Ltd.
- Jiloca Industrial S.A. (JISA)
- Saint Humic Acid
- The Andersons Inc.
- Xian Shan Yuan Agriculture & Technology Co. Ltd.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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