What are the current and future opportunities in the global Humic Acid Market?
Date: 2020-03-02   Author: Rahul Sankrityayan  Category: #news

What are the current and future opportunities in the global Humic Acid Market?

Humic Acid Market growth directly corresponds to the growing popularity of organic food products and organic farming. Agriculture application occupied more than 50% of the overall humic acid market share in 2016 and is set to record a CAGR of 12.5% over the period of 2016-2024. Apart from agriculture, humic acid also finds application in dietary supplements, horticulture, ecological bioremediation, vertical farms, medicines, and residential gardening. The rise in the usage of organic minerals in ecological remediation and horticulture has provided impetus to the rising demand for the humic acid market.

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With the growing demand of organic products in U.S and Canada, North America Humic Acid Market is set to seize a significant market share. A study concludes that more than 80% households in US are indulged into purchasing of organic food products, owing to the rising awareness and purchase parity of the regional population. Having accounted for a share of more than USD 150 million in 2016, North America humic acid market is estimated to surpass a revenue generation of over USD 400 million by 2024.

With the growing popularity of organic food products, the growth of humic acid market is set to experience a remarkable CAGR of over 12% over the coming period of 2016-2024. Humic substances are the integral part in building a healthy soil system that contributes to developing more resilient plants. Decrease in agricultural land across the globe have prompted the use of humic acid in vegetables, fruits, row crops and turfs & ornaments.

Crop management has become a necessity in response to the rising demand for crop yields by the growing population. Overuse of arable land has resulted into degrading soil nutrients and fertility. However, use of humic acid tends to improve the soil texture and water retention properties and thus improves the overall soil productivity. The rising awareness amongst the farmers and agriculturists to maintain and enhance the soil quality for better agricultural output will significantly lead to a surge in humic acid market size.

The ever-growing population, degradation of soil quality, and scarcity of food are the key drivers which will stimulate the growth of humic acid market. As per Organic Trade Association (OTA) of the United States, organic food products sale collected revenue worth USD 40 billion in 2015. This has also resulted in a substantial growth of the organic seed market with an estimated CAGR of 12.5% over the period of 2016-2024.

Asia Pacific Humic Acid Market is anticipated to grow at a rate of 13% over the period of 2016-2024, owing to the rapid economic development and the consequently increasing disposable income of the consumers. Gradually growing organic food market will further influence the growth of humic acid market in the region.

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Notable humic acid market players include-

Wilbur-Ellis Company, Nutri-Tech Solutions, Agriculture Solutions, Grow More, WinField Solutions, Saint Humic Acid, Tagrow, Organic Approach, NPK Industries, Nature's Lawn & Garden, Jiloca Industrial, Biolchim, Humintech, Faust Bio-Agricultural Services, and Black Earth Humic.

Glimpse of Table of Content (ToC)

Chapter 4. Humic Acid Market, By Application

4.1. Global humic acid market volume share by application, 2016 & 2024

4.2. Agriculture

4.2.1. Market estimates and forecasts, 2013 - 2024

4.2.2. humic acid market estimates and forecasts by region, 2013 - 2024

4.3. Ecological bioremediation

4.3.1. Market estimates and forecasts, 2013 - 2024

4.3.2. Market estimates and forecasts by region, 2013 - 2024

4.4. Horticulture

4.4.1. humic acid market estimates and forecasts, 2013 - 2024

4.4.2. Market estimates and forecasts by region, 2013 - 2024

4.5. Dietary supplements

4.5.1. Market estimates and forecasts, 2013 - 2024

4.5.2. Market estimates and forecasts by region, 2013 - 2024

4.6. Others

4.6.1. Market estimates and forecasts, 2013 - 2024

4.6.2. humic acid market estimates and forecasts by region, 2013 - 2024

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/humic-acid-market

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Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for algosonline, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in t...

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