Humic Acid Market Size
| Study Period | 2024 - 2029 |
| Market Volume (2024) | 0.74 Million tons |
| Market Volume (2029) | 1 Million tons |
| CAGR (2024 - 2029) | > 6.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Europe |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Humic Acid Market Analysis
The Humic Acid Market size is estimated at 0.74 Million tons in 2024, and is expected to reach 1 Million tons by 2029, growing at a CAGR of greater than 6% during the forecast period (2024-2029).
The market was negatively impacted by COVID-19 in 2020 due to lockdowns and supply chain issues. However, the outbreak led to the blooming of home gardening, along with growing food insecurity across various regions of the world. From mid-2021, the market started to recover and reach pre-pandemic levels.
- Over the short term, the major driving factor of the market is its massive demand from the agriculture sector.
- However, a lack of awareness among farmers is likely to slow down the market growth.
- Nevertheless, changing demographics, food habits in emerging markets, and the growing need for organic fertilizers and bio-stimulants are expected to increase the demand for humic acid over the forecast period.
- Europe dominates the market across the world, with the most substantial consumption from countries like France, Germany, and the United Kingdom.
Humic Acid Market Trends
The Organic Fertilizer Segment to Dominate the Market
- Humic acid is widely used in fertilizers to improve nutrient uptake, water retention, microbial growth, and soil structure. It also helps reduce toxins.
- Humic acid offers a wide range of physical, chemical, and biological benefits. It also improves the plant's cation-exchange capacity (CEC) and average water-holding capacity, improving soil fertility and plant growth. Fertile soil may contain a maximum humic acid content of 3%, whereas in peat, the humic acid content varies and falls in the range of 3 to 10%.
- The physical benefits offered by humic acid include enhancing the soil structure and preventing high water and nutrient loss. It helps convert unproductive soils into fertile soils by decomposition.
- The chemical benefits include neutralizing acid and alkaline salts and regulating pH value. The use of humic acid improves the absorption of both organic and mineral substances and retains water-soluble inorganic fertilizers.
- According to the OECD-FAO Agricultural Outlook 2021-2030, Asia-Pacific is the largest producer of agricultural and aquatic commodities. The region is expected to account for 53% of the global agriculture and fish output by 2030. The total value of production is projected to expand by 20% by 2030 compared to the 2018-20 base level.
- According to the US Census Bureau, the current population of the United States is expected to increase by 0.7-0.9%, driven by a high level of immigration. With the increasing per capita income and growing population, the demand for food and cash crops is also estimated to increase. For instance, as per the FAO, food demand in the United States is expected to increase by 50-90% by 2050.
- Therefore, all the aforementioned factors are likely to drive humic acid consumption from the organic fertilizer segment over the forecast period.
Europe to Dominate the Market
- Europe is a major consumer of humic acid, owing to increasing consumption from countries such as France, Germany, Russia, and the United Kingdom.
- France is home to the largest agriculture sector in Europe. It is among the top producers in the global agricultural scenario and produces sugar beets, wine, milk, beef and veal, cereals, and oilseeds.
- According to the European Commission, France鈥檚 agricultural land is approximately 28 million hectares, and there are about 456,000 farms in France with an average size of 69 hectares.
- Furthermore, according to the Organisation for Economic Co-operation and Development (OECD), the export volume of wheat in Russia is estimated to continuously increase between 2023 and 2032 by a total of 8.2 billion tonnes, marking a 20.53% growth.
- In Germany, about half of the land is used for agriculture. It is the third largest exporter of agricultural goods in the world. Grain is majorly cultivated on about one-third of the agricultural land of Germany, where wheat is the leading crop, followed by barley and rye. This is increasing the demand for fertilizers, thereby boosting the market for humic acid, as it is a rich source of plant nutrients.
- According to the Federal Statistical Office, the gross domestic product (GDP) from agriculture in Germany increased from EUR 7.391 billion (~USD 8.02 billion) in the second quarter of 2023 to EUR 8.131 billion (~USD 8.82 billion) in the third quarter of 2023.
- In the United Kingdom, the Office for National Statistics stated that GDP contribution from agriculture increased from -6.8% in 2021 to 1.5% in 2022, thereby supporting the growth of the market studied.
- The above-mentioned factors are likely to increase the demand for humic acid across industries in Europe.
Humic Acid Industry Overview
The humic acid market is partially consolidated in nature. Some of the key players in the market (not in any particular order) include Humic Growth Solutions Inc., Zhengzhou Shengda Khumic Biotechnology Co. Ltd, Humintech, Cifo SRL, and Mineral Technologies Inc.
Humic Acid Market Leaders
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Humic Growth Solutions, Inc.
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Zhengzhou Shengda Khumic Biotechnology Co. Ltd,
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Humintech
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Mineral Technologies Inc
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Cifo Srl
*Disclaimer: Major Players sorted in no particular order
Humic Acid Market News
- February 2023: The Andersons Inc. announced the launch of a new line of granular micronutrients branded MicroMark DG that offers dispersing granule (DG) technology for engineered plant nutrient products, resulting in homogenous spherical granules for easier blending, spreading, and most importantly, increased efficacy.
Humic Acid Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Drivers
4.1.1 Huge Demand from the Agriculture Sector
4.2 Restraints
4.2.1 Lack of Awareness Among Farmers
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Price Overview
5. MARKET SEGMENTATION (Market Size in Value and Volume)
5.1 Type
5.1.1 Powdered
5.1.2 Granular
5.1.3 Liquid
5.2 Application
5.2.1 Organic Fertilizer
5.2.2 Animal Feed
5.2.3 Other Applications
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 Indonesia
5.3.1.6 Malaysia
5.3.1.7 Thailand
5.3.1.8 Vietnam
5.3.1.9 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 France
5.3.3.4 Italy
5.3.3.5 Turkey
5.3.3.6 Spain
5.3.3.7 Russia
5.3.3.8 NORDIC
5.3.3.9 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Colombia
5.3.4.4 Rest of South America
5.3.5 Middle East and Africa
5.3.5.1 South Africa
5.3.5.2 United Arab Emirates
5.3.5.3 Saudi Arabia
5.3.5.4 Nigeria
5.3.5.5 Qatar
5.3.5.6 Egypt
5.3.5.7 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers, Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Agbest Technology Co. Limited
6.4.2 Arctech Inc.
6.4.3 Black Earth Humic LP
6.4.4 Cifo Srl
6.4.5 Desarrollo Agr铆cola y Minero SA
6.4.6 Humic Growth Solutions Inc.
6.4.7 Humintech
6.4.8 Jiloca Industrial SA
6.4.9 Saint Humic Acid
6.4.10 The Anderson Inc.
6.4.11 Xian Shan Yuan
6.4.12 Zhengzhou Shengda Khumic Biotechnology Co. Ltd
6.4.13 Mineral Technologies Inc.
6.4.14 Grow More Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Changing Demographics and Food Habits in the Emerging Markets
7.2 Growing Need for Organic Fertilizers and Bio-stimulants
Humic Acid Industry Segmentation
Humic acid is a type of organic compound derived from coal, lignite (leonardite ore) soils, and organic materials. It plays a pivotal role in improving soil properties, mobilizing nutrients to promote plant growth, and enhancing the overall yield. Humic acid-based products are used as powder, granules, or liquid in organic fertilizers and animal feed. They are preferred due to their application in sustainable agriculture.
The humic acid market is segmented into type, application, and geography. By type, the market is segmented into powdered, granular, and liquid. By application, the market is segmented into organic fertilizers, animal feed, and other applications (medicine, etc.). The report also covers the market size and forecasts for the humic acid market in 27 major countries across various regions. For each segment, the market sizes and forecasts are provided on the basis of volume (tons).
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| Granular | |
| Liquid |
| Application | |
| Organic Fertilizer | |
| Animal Feed | |
| Other Applications |
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Humic Acid Market Research FAQs
How big is the Humic Acid Market?
The Humic Acid Market size is expected to reach 0.74 million tons in 2024 and grow at a CAGR of greater than 6% to reach 1 million tons by 2029.
What is the current Humic Acid Market size?
In 2024, the Humic Acid Market size is expected to reach 0.74 million tons.
Who are the key players in Humic Acid Market?
Humic Growth Solutions, Inc., Zhengzhou Shengda Khumic Biotechnology Co. Ltd,, Humintech, Mineral Technologies Inc and Cifo Srl are the major companies operating in the Humic Acid Market.
Which is the fastest growing region in Humic Acid Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Humic Acid Market?
In 2024, the Europe accounts for the largest market share in Humic Acid Market.
What years does this Humic Acid Market cover, and what was the market size in 2023?
In 2023, the Humic Acid Market size was estimated at 0.70 million tons. The report covers the Humic Acid Market historical market size for years: . The report also forecasts the Humic Acid Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Humic Acid Industry Report
Statistics for the 2024 Humic Acid market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Humic Acid analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
