Press release
Humic Acid Market 2024 Worldwide Analysis of Key Players – Andersons, Humintech, Wilbur-Ellis Company, NPK Industries, Nature's Lawn & Garden, Black Earth Humic, Biolchim, Faust Bio-Agricultural Services, Grow More, Humic Growth Solutions & More
Humic Acid
Humic Acid Market size is set to cross USD 1 billion by 2024. Increasing awareness towards the harmful effects of chemical fertilizers and other synthetic agrochemicals, especially in the developed economies of Europe and North America, is likely to have a considerable influence on the humic acid market growth. Excessive usage of synthetic chemicals to improve the crop productivity degrades the groundwater quality as they seep down without being completely utilized by the plants. Moreover, government regulations such as the Common Agricultural Policy of the European Union proposed an expenditure of 30% of direct payments to promote the usage of bio-based resources in farming. Global humic acid market demand may witness a significant rise in these regions in the coming years.
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Less awareness about the benefits of organic farming in the emerging agro-based economies such as India, China, Brazil, etc. may hinder the overall humic acid market at present. Availability of cheap chemical fertilizers with high and balanced nutrient concentration further deteriorates the industry landscape. According to the Department of Fertilizer of the Indian Government, the demand of urea, a popularly used chemical fertilizer, is estimated at more than 35 kilo tons in the country by 2020 with a steady growth at more than close to 3% CAGR. These factors may have negative influences on the humic acid market growth.
Humic acid market application includes agriculture, horticulture, dietary supplements, ecological bioremediation, and others such as residential gardening, vertical farms, medicines, etc. Agricultural application is poised to hold sway the global humic acid market through the forecast years owing to rising inclination towards organic farming in the developed countries. This segment growth will also be boosted by various government subsidiaries and grants in different countries around the globe.
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.
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.
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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.
Table of Content:
Chapter 1 Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Humic Acid Industry Insights
Chapter 4 Humic Acid Market, By Application
Chapter 5 Humic Acid Market, By Region
Chapter 6 Company Profiles
More Details on this Report At: https://www.marketstudyreport.com/reports/humic-acid-market
Related Report:
United States Humic Acid Market Report 2018
In this report, the United States Humic Acid market is valued at USD XX million in 2017 and is expected to reach USD XX million by the end of 2025, growing at a CAGR of XX% between 2017 and 2025.
https://www.marketstudyreport.com/reports/united-states-humic-acid-market-report-2018/?utm_source=RR-PSR
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