Global Humic acid Market-Industry Analysis and Forecast (2020-2027)-
Global Humic Acid Market was valued US$ XX Mn in 2019 and is expected to reach US$ XX Mn by 2027, at a CAGR of 12.60% during a forecast period.
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Global Humic Acid Market Product Definition
Humic acid is the main component of humic substances, which are the constituents of coal, peat, and soil. Humic acid is the break-down component of natural animal and plant decay material and is commonly found in leonardite sedimentation layers, which are yields of lignite. It is used in ecological bioremediations, agriculture, horticulture, and dietary supplements applications. Humic acid is extremely useful for soil’s potency and crop yield as it is a natural soil conditioner and acts as a carbon-based chelator or microbial stimulator.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Global Humic Acid Market Dynamics
The Research Report gives a comprehensive account of the drivers and restraints in the Humic acid market. The global humic acid market is mainly compelled by a drifting focus on organic fertilizers above chemical complements. Antagonistic environmental and health effects of chemical fertilizers fuel humic acid product demand. The rising demand for green fertilizers will be one of the most recent trends that will increase grip in the humic acid market during the upcoming years. Upsurging awareness about the harmful effects of synthetic fertilizers, inorganic chemical compounds, and artificial compounds in developed countries is expected to surge the demand for organic compounds such as humic acid and fulvic acid. Humic acids chelate nutrient compounds, particularly iron, in the soil to a form appropriate for plant utilization to enhance nutrient supply for plants. Humic acid helps to rise up to 70% in yield, complemented by a reduction up to 30% in the use of fertilizers and pesticides, along with improved and healthier growth of green grass, agricultural crops, and ornamentals. The humic acid market application contains agriculture, dietary supplements, horticulture, organic bioremediation, and others like domestic gardening, medicines, etc. Besides, the huge demand for humic acid from lawn applications in the construction industry and water purification area is projected to stimulate the global humic acid market throughout the forecast period.
Promptly increasing populace through the globe with reducing arable land owing to robust urbanization and industrialization will fuel fertilizer demand in order to accomplish high yield. For example, The Food and Agriculture Organization (FAO) of the United Nations estimated that the farmland productivity shall be raised by nearly 15% in upcoming years to support global food consumption.
However, the humic market lacks worldwide established standard procedures for measuring the contents of humic products, which is a major limitation.
Global Humic Acid Market Segment analysis
Based on the Application, the Agriculture segment is expected to grow at a CAGR of XX% during the forecast period. Humic acid performs the vital role of binding insoluble metal ions and releasing them when required. It enables improved seed germination and stimulates useful microbial activity. Additional value-adding aids of the product in the agriculture segment consist of avoiding surface run-off, enhanced water holding capacity of the soil, regulating the pH value of soil, improving root respiration, etc. The supremacy of the product in contrast to the chemical fertilizers, along with the benefits, will considerably propel the demand for it in the near future.
Leonardite is used as a conditioner for the soil and as a bio-catalyst and bio-stimulant for the plant in the agriculture sector. Humic acids are a tremendously natural and organic way to provide plants and soil with a concentrated dose of vitamins, essential nutrients, and trace elements. As compared to other organic products, Leonardite improves plant growth (biomass production) and fertility of the soil.
Another benefit of Leonardite is its continuing effectiveness, as it does not get consumed as quickly as animal manure, compost or peat. Leonardite decomposes completely; therefore it does not enter into nutritional competition with plants for nutrients like nitrogen. This is not the case with partially decomposed compost, whereby the organic substances in the soil are quickly consumed by micro-organisms and mineralized entirely without humus formation.
Global Humic acid Market Regional analysis
In Europe, Organic industry growth has an optimistic impact on the guidelines concerning pesticide practice in farms is anticipated to thrust the organic farming growth during the forecast period. Besides, Europe organic farming projected to show huge growth in the next years. In 2018, Europe imported 3.3 Mn tons of agricultural organic products, which shows a considerable market for organic farming and associated industries in the region. Such elements supplemented with increasing user preference for organic food consumption will completely stimulus product perception over the forecast period. Growing food demand because of promptly rising in the populace in the region likely to fuel the humic acid market growth, as it helps to proliferation the yield of the crop. Humic acid is an eco-friendly substitute to conventional fertilizers which helps in growing total yield in the inadequate land area. Agricultural application is composed to hold dominance in the global humic acid market through the forecast years due to rising preference to organic farming in the industrialized countries.
The objective of the report is to present a comprehensive analysis of the Global Humic acid Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Humic acid Market dynamics, structure by analysing the market segments and projects the Global Humic acid Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Humic acid Market make the report investor’s guide.
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Global Humic Acid Market, By Type
• Powdered Humic Acid
• Granular Humic Acid
• Other
Global Humic Acid Market, By Application
• Agriculture
• Ecological bioremediation
• Horticulture
• Dietary supplements
• Others
Global Humic Acid Market, By Regions
• North America
• Europe
• Asia-Pacific
• South America
• Middle East and Africa (MEA)
Key Players operating the Global Humic acid Market
• 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
• Organic Approach LLC
• National Pesticides & Chemicals
• Sikko Industries Ltd.
• Wilbur-Ellis Company LLC
• Black Earth
• Daymsa
• Biolchim
• Agbest Technology
• Grow More
• Manidharma Biotech
• Jiloca Industrial
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