Humic acid market size to hit 1.1 bn by 2028

Propelled by the rapidly growing farming industry together and the thriving demand for dietary supplements globally, the humic acid market is set to grow at a rapid pace in the near future. With the rising importance of sustainable agriculture in most parts of the world, there is a stronger need to enhance the soil structure while ensuring that the plants hold water. This product also holds great importance in the growth and maintenance of urban landscapes such as a park, golf courses, and lawns in absence of high-analysis NPK fertilizers.

Humic acid is a chemical derived from decaying plants and is very effective in saving a lot of the farmer’s money and time. In fact, it is highly favored over fertilizers in enhancing nutrient uptake and plant growth. Increasing application scope in the preparation of medicines is also driving the development of the humic acid industry.

Nothing these trends, a large number of product suppliers and manufacturers are placing targeted efforts on developments and formulations to meet the rising end-user demand. To quote an instance, in February 2021, Wilbur-Ellis introduced its Perfection brand of fertilizers, comprising puric humic acid for improving nutrient uptake, for easily tapping into the nutrition programs.

Mentioned below are a few prominent trends fostering the growth of the humic acid industry in the rising years.

Application of humic acid in the agriculture sector

1. Humic acid plays a crucial role in helping the plant roots receive nutrients and water whilst increasing the yields. It not only gives more space for bacterial activities and root growth but also enhances the soil structure. The acid offers accelerated nutrient uptake, drought tolerance, as well as seed germination. Growing prominence as an excellent root stimulator along with helping farmers and gardeners aerate the soil and lower the pH level to promote better plant health will additionally drive the product adoption.

Potential in dietary supplements

2. Humic acid is predominantly incorporated in dietary foods as it is packed with minerals that are needed for every aspect of the health, spanning from bone development, heart & eye health, digestion and mental well-being. Owing to the presence of trace minerals that further work with other vitamins and enzymes, the acid helps carry out vital chemical reactions in the body. This ensures that the body is running smoothly, subsequently complementing the humic acid market application outlook.

North America as a key market

3. Increasing usage of biostimulants and fertilizers, as well as the optimum count of organic agricultural programs for supporting high soil microbial activity and diversity, will anchor the humic acid penetration in North America. The growing consumer health wellness and the surging rate of dietary supplement intake will also favor the product penetration in the region.

Asia Pacific to record higher consumption

4. The booming agricultural sector in several parts of the APAC region and the rising efforts on transferring important micronutrients into bioavailable food will stir the demand for humic acid. Ease of access to the product in granule and powder form along with the robust presence of some well-known manufacturers and suppliers will also anchor the regional humic acid industry growth.

Additionally, the product is widely consumed in the medicinal sector on account of its ability to stimulate the immune system and treat flu, swine flu, among other viral infections. It is largely preferred over fulvic acid as it is abundant and easy to extract as well as concentrate whilst containing a bit of nitrogen.

Source: https://www.gminsights.com/industry-analysis/humic-acid-market

The 4th Biopesticides, Biostimulants and Novel Fertilizers International Summit (BioEx 2023) will take place on 9th & 10th March in Hangzhou, China. We are pleased to invite speakers from the commercial, research, extension, government, regulatory and farming sectors to submit your proposals and abstracts for oral presentations.