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Humic Based Biostimulants Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region | Syngenta AG, Biolchim S.P.A., FMC Corporation, Haifa Group, UPL Limited, Bayer AG, Sikko Industries Ltd
Humic Based Biostimulants Market Size
The Business Research Company offers in-depth market insights through Humic Based Biostimulants Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The humic based biostimulants market size has grown rapidly in recent years. It will grow from $0.66 billion in 2023 to $0.75 billion in 2024 at a compound annual growth rate (CAGR) of 13.8%. The growth in the historic period can be attributed to rise in consumer preference for organic produce, increase in global population, government subsidies and support, expansion of the agriculture industry, increased research and development.
The humic based biostimulants market size is expected to see rapid growth in the next few years. It will grow to $1.26 billion in 2028 at a compound annual growth rate (CAGR) of 13.8%. The growth in the forecast period can be attributed to growing demand for sustainable agriculture, growing food demand, rising awareness about the importance of crop protection, rise in disposable income. Major trends in the forecast period include customized formulations, biostimulants for non-food crops, biostimulant combinations, collaboration and partnership.
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Market Segmentation:
The main types of humic-based biosimulants are fulvic acid, humic acid and potassium humate. Humic acid is a group of molecules that bind to, and help plant roots receive, water and nutrients. Fulvic acid is a product of decomposition and formed through geochemical and biological reactions, such as the breakdown of food in a compost heap. Potassium humate is the potassium salt of humic acid. Humic-based biosimulants are available in liquid, water-soluble granules, water-soluble powders and applicable for agriculture, cereals, fiber crops, fruits & vegetables, oilseeds and used by farmers, related industries and research institutes.
Major Driver - Increasing Demand For Sustainable Farming Drives Growth In Humic Based Biostimulants Market
Increase in the demand for the adoption of sustainable solutions in farming is driving the market growth of humic-based biostimulants. Due to increase in population, there is an immense pressure to produce crops with high-quality yield. According to the spokesperson of Agricen Sciences, an applied sciences research company, commented that there is a rapid growth of biostimulants market in all geographies including the USA and Europe. Furthermore, due to increase in organic farming, the adoption of humic-based biostimulants has increased across the globe. For instance, in May 2023, according to the Organic Trade Association, a US-based business association, organic food sales in the United States for 2022 exceeded $60 billion for the first time, marking a significant milestone for the robust organic sector. The total organic sales, which encompass both organic food and non-food products, reached a record-breaking $67.6 billion. Therefore, sustainable solutions coupled with increase in organic farming is expected to drive the humic-based biostimulants during the forecast period.
Competitive Landscape:
Major companies operating in the humic based biostimulants market market include Syngenta AG, Biolchim S.P.A., FMC Corporation, Haifa Group, UPL Limited, Bayer AG, Sikko Industries Ltd., Humintech GmbH, Promisol, Novihum Technologies GmbH, Borregaard, Qingdao Future Group, Bioline, Humic Growth Solutions, Actagro LLC, Rovensa S.A., Tagrow, Cifo S.P.A., Loveland Industries Inc., Eastman Chemical Company, OMEX Agricultural Holdings Limited, LALLEMAND Inc., Agrinos AS, Brandt Consolidated Inc., Koppert Biological Systems B.V., Valagro S.p.A., Marrone Bio Innovations Inc., Novozymes A/S, Biovert S.L., Black Earth Humic LP, Nutri-Tech Solutions Pty. Ltd., Biostadt India Limited, Bioiberica S.A.U., Fertiplus International BV, BioAtlantis Ltd.
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Top Trend - Innovations In Chelated Humic-Based Biostimulants Transforming Agriculture
Innovations in humic-based biosimulants such as chelation with different minerals is shaping the humic-based biostimulants market. Companies across the globe that are working on a wide variety of agricultural solutions with chelated additional minerals to enhance the nutraceutical nature of crops and plants. For instance, HuminTech, a German based humic substances producer, has launched a humic based biostimulant with iron chelation. The product can be used to prevent and correct iron deficiency symptoms in plants, along with increasing the resistance of plants to abiotic stress factors.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Humic Based Biostimulants Market Characteristics
3. Humic Based Biostimulants Market Trends And Strategies
4. Humic Based Biostimulants Market - Macro Economic Scenario
5. Humic Based Biostimulants Market Size And Growth
…..
27. Humic Based Biostimulants Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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