Press release
Humic Acid Market 2020: Industry Growth, Competitive Analysis, Future Prospects and Forecast 2026 | Anderson, Inc., Black Earth, Biolchim S.p.A., Humintech GmbH, Grow More Group
Humic Acid Market
With this increasing demand of organic products in U.S. and Canada, North America region is projected to stand tall in humic acid market in the near future. Reports suggest that over 30 per cent of homes across the U.S. make use of organic food products due to rising awareness and high economic affluence of the residents. It is prudent to mention that North America, additionally, also houses the presence of one of the most prominent humic acid providers – Black Earth Humic.
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Agriculture was the most prominent application segment in the humic acid market and accounted for over 55% share in 2018. Growing food demand due to the rapidly growing population is driving the humic acid market growth from past several years as it plays a significant role in agricultural applications. It exhibits unique properties which help in enhancing the overall crop yield by improving soil fertility in long run by imparting desired nutrient value to the soil.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Andersons, Inc.
2. Everwood Farm
3. Nature's Lawn & Garden
4. Faust Bio-Agricultural Services
5. Humintech GmbH
6. Changsha Xian Shan Yuan Agriculture and Technology
7. Agriculture Solutions Inc.
8. NPK Industries
9. Nutri-Tech Solutions Pty Ltd.
10. Tagrow Co. Ltd.
11. WinField Solutions
12. Organic Approach LLC
13. National Pesticides & Chemicals
14. Sikko Industries Ltd.
15. Wilbur-Ellis Company LLC
With rising consciousness pertaining to consuming healthy food, the need for organic food products is tremendously expanding. In this context, humic acid market has seen remarkable growth proceeds over the recent years. Humic substances play an essential role in building a nutritious soil system which significantly contribute towards development of more resilient plants. What has prompted the explicit use of these substances in fruit, vegetable, and crop production is a decrease in agricultural land worldwide.
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To meet the requirement of a consistently growing population, agricultural demand, by 2050, may increase by nearly 50 per cent as compared to 2013, as reported by Food and Agriculture Organization report. Additionally, it has been apprehended that worldwide food demand is anticipated to rise anywhere between 59 to 98 per cent by the end of 2050. Therefore, to suffice this, farmers are turning towards sustainable farming techniques and methods which would potentially enhance their production capabilities.
By Application
1. Agriculture
2. Ecological bioremediation
3. Horticulture
4. Dietary supplements
Apart from agricultural sector that is leveraging high end benefits of humic acid, the product also finds widespread applications in horticulture, dietary supplements, vertical farms, medicines, residential gardening, and many others. Considering various health benefits of humic acid, the dietary supplements sector is estimated to amass noteworthy gains over the upcoming years. Humic acid products help in detoxification of human body and also boost the immune system.
North America led the global humic acid market share and accounted for about 40% of the total industry share in 2018. Prevailing product use in the region is attributed to increasing awareness among farmers towards organic fertilizer use which will subsequently boost product demand in the region. In addition, increasing stringent regulations imposed by the U.S. government and regulatory authorities has led to shift in market trends by replacing chemical fertilizer with organic fertilizer which will have positive influence on the humic acid industry share by 2026.
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Some of the other major companies in the humic acid market include Black Earth, The Andersons, Inc., Everwood Farm, Nature's Lawn & Garden, Faust Bio-Agricultural Services, Humintech GmbH, Changsha Xian Shan Yuan Agriculture and Technology, Agriculture Solutions Inc., NPK Industries, Nutri-Tech Solutions Pty Ltd., Tagrow Co. Ltd., WinField Solutions, LLC., Organic Approach LLC, National Pesticides & Chemicals, Sikko Industries Ltd., Grow More Inc., Jiloca Industrial, S.A. and Wilbur-Ellis Company LLC.
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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