Humic Acid Market Size| Industry Research Report, 2018 – Leading Key Players - Biolchim S.p.A., HCM Agro Products Private, Humic Growth Solutions, Saint Humic Acid, Arihant Bio Fertichem Pvt., Shandong Chuangxin Humic Acid Technology, Black Earth Humic

Synopsis of Humic Acid Market

Humic Acid is a mixture of different acids containing both phenolate and carboxyl groups. Humic Acid is produced mainly from the biodegradation of dead organic matter. These acids are extensively used as soil supplements in agriculture and horticultural applications. The major applications of the Humic Acid include as dietary supplements, agriculture, ecological bioremediation, horticulture, and others. The growing population across the globe has substantially reduced the amount of arable land, which fuel the demand for highly productive soil supplements. Thus, drive the growth of the Global Humic Acid Market. Humic Acid helps in improving water retention properties, soil texture and promotes bioactivity resulting in enhancing the productivity of the soil. Moreover, the growing demand for organic produce owing to the rising consciousness about the adverse effects of chemical fertilizers is expected to boost the market growth during the forecast period. Furthermore, the growing demand for dietary supplements is likely to augment the market growth of Humic Acid during the forecast period.

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The Global Humic Acid Market is anticipated to grow at a CAGR of over 10% during the given period. The agricultural segment is leading the market growth and is anticipated to continue its dominance over the forecast period. Humic Acid is extensively used as a soil supplement to increase the productivity of the soil.

Key Players

Some of the prominent players operating in the Global Humic Acid Market are Biolchim S.p.A. (Italy), HCM Agro Products Private Ltd. (India), Humintech GmbH (Germany), Humic Growth Solutions, Inc. (the US), Jiloca Industrial, S.A. (Spain), Omnia Holdings Limited (South Africa), Saint Humic Acid (China), Sikko Industries Ltd. (India), Arihant Bio Fertichem Pvt. Ltd. (India), Shandong Chuangxin Humic Acid Technology Co. Ltd. (China), Black Earth Humic LP (Canada), Minerals Technology Inc. (US), Horizon AG-Products (US), among others.

Segmental Analysis

The Global Humic Acid Market is segmented into application and region. On the basis of the application, the Global Humic Acid Market is further segmented into dietary supplements, agriculture, horticulture, ecological bioremediation, medicines, and others. On the basis of the region, the Global Humic Acid Market is bifurcated into Asia Pacific, North America, Latin America, Europe, and the Middle East & Africa.

Regional Analysis

The Humic Acid Market is segmented across five regions: Europe, Asia Pacific, North America, Latin America, and the Middle East & Africa. Among these, North America is expected to be the leading region in 2016 and is expected to retain its dominance during the forecast period. The growing demand for organic produce along with the growing consciousness among the population about the adverse effects of chemical fertilizers is expected to boost the growth of the market during the forecast period. Moreover, the growing populations have reduced the availability of arable land, which is expected to boost the demand for Humic Acid further. Furthermore, the growing demand for dietary supplements mainly in the U.S. and Canada is further expected to fuel the market growth. The Asia Pacific is anticipated to be the fastest growing market during the forecast years due to the presence agricultural dependent economies such as India, China, and Indonesia among others. The growing consciousness about the health benefits of Humic Acid is expected to boost the market growth. The European market is anticipated to show a moderate CAGR during the forecast period. The increasing demand for organic produce amongst the health-conscious population is anticipated to drive the market during the forecast period. Moreover, the European organic farming is expected to surge owing to the increasing government encouragement to reduce the use of harmful chemicals in agricultural produce. Furthermore, the growing application as a feed supplement is also expected to propel the market growth in the region. According to the European Union, the total area under organic farming in Europe was around 11.1 million hectares, which grew from just 5 million hectares in 2002.

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