The Global Humic Acid Market Size accounted for USD 597.9 Million in 2022 and is projected to achieve a market size of USD 1,720.2 Million by 2032 growing at a CAGR of 11.4% from 2023 to 2032.
Humic Acid Market Key Highlights
- Global Humic Acid Market revenue is expected to increase by USD 1,720.2 Million by 2032, with an 11.4% CAGR from 2023 to 2032
- Asia-Pacific region led with more than 43% of Humic Acid Market share in 2022
- North America humic acid market growth will record a CAGR of more than 12.2% from 2023 to 2032
- By application, the agriculture segment has accounted more than 52% of the revenue share in 2022
- By application, the dietary supplements segment is predicted to grow at the fastest CAGR between 2023 and 2032
- Increasing demand for organic and sustainable agricultural practices, drives the Humic Acid Market value
![Humic Acid Market Size Humic Acid Market Trends](reportimages/Infography-2_Global-Humic-Acid-Market-2.jpg)
Humic acid is a naturally occurring organic substance that is derived from decomposed plant and animal materials, such as peat, lignite, and leonardite. It is rich in humus, which is an essential component of healthy soils. Humic acid is known for its unique properties, including its ability to improve soil structure, enhance nutrient uptake by plants, promote microbial activity, and increase water-holding capacity. It is widely used in agriculture, horticulture, and other industries as a soil conditioner, fertilizer enhancer, and livestock feed additive.
The market for humic acid has been experiencing significant growth in recent years. One of the key drivers of this growth is the increasing demand for organic and sustainable agricultural practices. Humic acid provides an effective and eco-friendly solution to improve soil fertility and crop productivity without relying heavily on synthetic chemicals. As more farmers and growers adopt organic farming methods, the demand for humic acid is expected to rise.
Furthermore, the growing global population and the need to enhance food production are also contributing to the market growth. With limited arable land available, it has become crucial to maximize the productivity of existing farmland. Humic acid helps in optimizing nutrient availability, reducing nutrient leaching, and enhancing plant growth, which can lead to higher crop yields.
![Humic Acid Market Share Humic Acid Market Dynamics](reportimages/Infography-2_Global-Humic-Acid-Market-1.jpg)
Global Humic Acid Market Trends
Market Drivers
- Increasing demand for organic and sustainable agricultural practices
- Growing global population and the need to enhance food production
- Rising awareness about the benefits of humic acid in improving soil fertility and crop productivity
- Adoption of humic acid in organic farming as an eco-friendly alternative to synthetic chemicals
- Expansion of the horticulture industry and use of humic acid as a growth enhancer for plants
Market Restraints
- Limited availability of high-quality sources of humic acid, such as leonardite or lignite
- High manufacturing and extraction costs associated with humic acid production
- Lack of standardized regulations and quality control measures in the humic acid industry
Market Opportunities
- Growing market potential in developing regions with expanding agricultural sectors
- Increasing research and development activities to explore new applications and benefits of humic acid
- Development of innovative technologies for humic acid extraction and formulation
Humic Acid Market Report Coverage
Market |
Humic Acid Market
|
Humic Acid Market Size 2022 |
USD 597.9 Million |
Humic Acid Market Forecast 2032 |
USD 1,720.2 Million |
Humic Acid Market CAGR During 2023 - 2032 |
11.4% |
Humic Acid Market Analysis Period |
2020 - 2032 |
Humic Acid Market Base Year |
2022 |
Humic Acid Market Forecast Data |
2023 - 2032 |
Segments Covered |
By Application, And By Geography
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Key Companies Profiled |
BASF SE, The Andersons, Inc., NPK Industries, Humintech GmbH, Sikko Industries Ltd., Black Earth Humic LP, Biolchim S.p.A., Arihant Bio Fertichem Pvt. Ltd., Agro Green Chemicals, Omnia Specialities Australia, Faust Bio-Agricultural Services, Inc., and Wilbur-Ellis Company.
|
Report Coverage
|
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Covid-19 Analysis, Regulation Analysis |
Humic Acid Market Dynamics
Humic acid is a complex mixture of organic substances that naturally occur in soils, peat, and other organic materials. It is formed through the decomposition of plant and animal matter over a long period. Humic acid is recognized for its rich content of humus, a crucial component for soil health and fertility. It is characterized by its dark brown to black color, high carbon content, and ability to improve soil structure and nutrient availability.
The application of humic acid spans across various industries, with agriculture being one of its primary sectors of use. In agriculture, humic acid is utilized as a soil conditioner and fertilizer enhancer. It improves soil fertility by enhancing the cation exchange capacity (CEC) and nutrient-holding capacity of the soil. Humic acid also promotes microbial activity, which aids in nutrient breakdown and availability to plants. Additionally, it helps to retain moisture in the soil, reducing water stress for crops. These combined effects result in increased nutrient uptake, root development, and overall plant growth and yield. Apart from agriculture, humic acid finds applications in horticulture, where it is used to improve the growth and productivity of plants in nurseries, gardens, and greenhouses. It is commonly added to potting soils and plant growth media to enhance nutrient availability, root development, and water retention.
The humic acid market has been experiencing significant growth in recent years and is expected to continue expanding. Several key factors contribute to this growth. Firstly, the increasing global demand for organic and sustainable agricultural practices is a major driver. Humic acid is widely recognized for its ability to improve soil fertility, enhance nutrient uptake by plants, and promote overall soil health. As farmers and growers increasingly adopt organic farming methods, the demand for humic acid as a natural soil conditioner and fertilizer enhancer is expected to rise. Additionally, the rising global population and the need to enhance food production present a crucial opportunity for the humic acid market.
![Humic Acid Market - Acumen Research and Consulting Humic Acid Market Growth 2023 - 2032](reportimages/Discounted-Price-Template_2.jpg)
Humic Acid Market Segmentation
The global Humic Acid Market segmentation is based on application, and geography.
Humic Acid Market By Application
- Agriculture
- Dietary Supplements
- Horticulture
- Ecological Bioremediation
- Others
In terms of applications, the agriculture segment acconted the significant revenue share in the global humic acid market in 2022. Humic acid is widely used in agriculture as a soil conditioner and fertilizer enhancer, offering several benefits that contribute to improved crop productivity and overall soil health. As a result, the demand for humic acid in the agriculture sector has been steadily increasing. One of the primary reasons for the growth of the agriculture segment is the rising adoption of organic and sustainable farming practices. Humic acid aligns well with these practices as it provides a natural and eco-friendly solution to improve soil fertility and enhance plant growth. Organic farmers prefer humic acid as it helps in increasing nutrient availability, promoting microbial activity, and improving water-holding capacity in the soil. With the increasing consumer demand for organic produce, farmers are seeking ways to optimize their crop yields while reducing reliance on synthetic fertilizers and chemicals, which further drives the demand for humic acid in agriculture.
Furthermore, the need to enhance food production to meet the growing global population is a significant factor driving the growth of the agriculture segment in the humic acid market. Humic acid plays a crucial role in maximizing crop yields by improving nutrient uptake and root development, thereby supporting higher agricultural productivity. As farmers aim to increase their output from limited arable land, the adoption of humic acid as a soil amendment has gained prominence.
Humic Acid Market Regional Outlook
North America
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- India
- Japan
- China
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
The Middle East & Africa
- South Africa
- GCC Countries
- Rest of the Middle East & Africa (ME&A)
![Humic Acid Market Growth Humic Acid Market Drivers](reportimages/Infography-2_Global-Humic-Acid-Market-3.jpg)
Humic Acid Market Regional Analysis
Asia-Pacific dominates the humic acid market for several reasons, making it a prominent region in terms of both production and consumption. The Asia-Pacific region has a significant agricultural sector, with countries like China and India being major contributors to global agricultural production. The large-scale agricultural activities in these countries create a substantial demand for humic acid as a soil conditioner and fertilizer enhancer. The adoption of humic acid in these agricultural systems is driven by the need to improve soil fertility, enhance nutrient uptake, and increase crop yields. Moreover, Asia-Pacific is home to some of the largest reserves of raw materials used for humic acid production. Countries like China and India have abundant deposits of lignite and leonardite, which are rich sources of humic acid. The availability of these raw materials in the region ensures a steady supply of humic acid for both domestic consumption and export to other regions. This contributes to the dominance of Asia-Pacific in the humic acid market. Additionally, the increasing awareness and adoption of organic and sustainable agricultural practices in Asia-Pacific have further boosted the demand for humic acid.
Humic Acid Market Player
Some of the top humic acid market companies offered in the professional report include BASF SE, The Andersons, Inc., NPK Industries, Humintech GmbH, Sikko Industries Ltd., Black Earth Humic LP, Biolchim S.p.A., Arihant Bio Fertichem Pvt. Ltd., Agro Green Chemicals, Omnia Specialities Australia, Faust Bio-Agricultural Services, Inc., and Wilbur-Ellis Company.
![Humic Acid Market - Acumen Research and Consulting Humic Acid Market Regional Analysis](reportimages/02_Why-Choose-Acumen-Research-and-Consulting.jpg)
CHAPTER 1. Industry Overview of Humic Acid Market
1.1. Definition and Scope
1.1.1. Definition of Humic Acid
1.1.2. Market Segmentation
1.1.3. Years Considered for the Study
1.1.4. Assumptions and Acronyms Used
1.1.4.1. Market Assumptions and Market Forecast
1.1.4.2. Acronyms Used in Global Humic Acid Market
1.2. Summary
1.2.1. Executive Summary
1.2.2. Humic Acid Market By Application
1.2.3. Humic Acid Market By Region
CHAPTER 2. Research Approach
2.1. Methodology
2.1.1. Research Programs
2.1.2. Market Size Estimation
2.1.3. Market Breakdown and Data Triangulation
2.2. Data Source
2.2.1. Secondary Source
2.2.2. Primary Source
CHAPTER 3. Market Dynamics And Competition Analysis
3.1. Market Drivers
3.1.1. Driver 1
3.1.2. Driver 2
3.2. Restraints and Challenges
3.2.1. Restraint 1
3.2.2. Restraint 2
3.3. Growth Opportunities
3.3.1. Opportunity 1
3.3.2. Opportunity 2
3.4. Porter’s Five Forces Analysis
3.4.1. Bargaining Power of Suppliers
3.4.2. Bargaining Power of Buyers
3.4.3. Threat of Substitute
3.4.4. Threat of New Entrants
3.4.5. Degree of Competition
3.5. Market Concentration Ratio and Market Maturity Analysis of Humic Acid Market
3.5.1. Go To Market Strategy
3.5.1.1. Introduction
3.5.1.2. Growth
3.5.1.3. Maturity
3.5.1.4. Saturation
3.5.1.5. Possible Development
3.6. Technological Roadmap for Humic Acid Market
3.7. Value Chain Analysis
3.7.1. List of Key Manufacturers
3.7.2. List of Customers
3.7.3. Level of Integration
3.8. Price Trend of Key Raw Material
3.8.1. Raw Material Suppliers
3.8.2. Proportion of Manufacturing Cost Structure
3.8.2.1. Raw Material
3.8.2.2. Labor Cost
3.8.2.3. Manufacturing Expense
3.9. Regulatory Compliance
3.10. Competitive Landscape, 2022
3.10.1. Player Positioning Analysis
3.10.2. Key Strategies Adopted By Leading Players
CHAPTER 4. Manufacturing Plant Analysis
4.1. Manufacturing Plant Location and Establish Date of Major Manufacturers in 2022
4.2. R&D Status of Major Manufacturers in 2022
CHAPTER 5. Humic Acid Market By Application
5.1. Introduction
5.2. Humic Acid Revenue By Application
5.2.1. Humic Acid Revenue (USD Million) and Forecast, By Application, 2020-2032
5.2.2. Agriculture
5.2.2.1. Agriculture Market Revenue (USD Million) and Growth Rate (%), 2020-2032
5.2.3. Dietary Supplements
5.2.3.1. Dietary Supplements Market Revenue (USD Million) and Growth Rate (%), 2020-2032
5.2.4. Horticulture
5.2.4.1. Horticulture Market Revenue (USD Million) and Growth Rate (%), 2020-2032
5.2.5. Ecological Bioremediation
5.2.5.1. Ecological Bioremediation Market Revenue (USD Million) and Growth Rate (%), 2020-2032
5.2.6. Others
5.2.6.1. Others Market Revenue (USD Million) and Growth Rate (%), 2020-2032
CHAPTER 6. North America Humic Acid Market By Country
6.1. North America Humic Acid Market Overview
6.2. U.S.
6.2.1. U.S. Humic Acid Revenue (USD Million) and Forecast By Application, 2020-2032
6.3. Canada
6.3.1. Canada Humic Acid Revenue (USD Million) and Forecast By Application, 2020-2032
6.4. North America PEST Analysis
CHAPTER 7. Europe Humic Acid Market By Country
7.1. Europe Humic Acid Market Overview
7.2. U.K.
7.2.1. U.K. Humic Acid Revenue (USD Million) and Forecast By Application, 2020-2032
7.3. Germany
7.3.1. Germany Humic Acid Revenue (USD Million) and Forecast By Application, 2020-2032
7.4. France
7.4.1. France Humic Acid Revenue (USD Million) and Forecast By Application, 2020-2032
7.5. Spain
7.5.1. Spain Humic Acid Revenue (USD Million) and Forecast By Application, 2020-2032
7.6. Rest of Europe
7.6.1. Rest of Europe Humic Acid Revenue (USD Million) and Forecast By Application, 2020-2032
7.7. Europe PEST Analysis
CHAPTER 8. Asia Pacific Humic Acid Market By Country
8.1. Asia Pacific Humic Acid Market Overview
8.2. China
8.2.1. China Humic Acid Revenue (USD Million) and Forecast By Application, 2020-2032
8.3. Japan
8.3.1. Japan Humic Acid Revenue (USD Million) and Forecast By Application, 2020-2032
8.4. India
8.4.1. India Humic Acid Revenue (USD Million) and Forecast By Application, 2020-2032
8.5. Australia
8.5.1. Australia Humic Acid Revenue (USD Million) and Forecast By Application, 2020-2032
8.6. South Korea
8.6.1. South Korea Humic Acid Revenue (USD Million) and Forecast By Application, 2020-2032
8.7. Rest of Asia-Pacific
8.7.1. Rest of Asia-Pacific Humic Acid Revenue (USD Million) and Forecast By Application, 2020-2032
8.8. Asia Pacific PEST Analysis
CHAPTER 9. Latin America Humic Acid Market By Country
9.1. Latin America Humic Acid Market Overview
9.2. Brazil
9.2.1. Brazil Humic Acid Revenue (USD Million) and Forecast By Application, 2020-2032
9.3. Mexico
9.3.1. Mexico Humic Acid Revenue (USD Million) and Forecast By Application, 2020-2032
9.4. Rest of Latin America
9.4.1. Rest of Latin America Humic Acid Revenue (USD Million) and Forecast By Application, 2020-2032
9.5. Latin America PEST Analysis
CHAPTER 10. Middle East & Africa Humic Acid Market By Country
10.1. Middle East & Africa Humic Acid Market Overview
10.2. GCC
10.2.1. GCC Humic Acid Revenue (USD Million) and Forecast By Application, 2020-2032
10.3. South Africa
10.3.1. South Africa Humic Acid Revenue (USD Million) and Forecast By Application, 2020-2032
10.4. Rest of Middle East & Africa
10.4.1. Rest of Middle East & Africa Humic Acid Revenue (USD Million) and Forecast By Application, 2020-2032
10.5. Middle East & Africa PEST Analysis
CHAPTER 11. Player Analysis Of Humic Acid Market
11.1. Humic Acid Market Company Share Analysis
11.2. Competition Matrix
11.2.1. Competitive Benchmarking Of Key Players By Price, Presence, Market Share, And R&D Investment
11.2.2. New Product Launches and Product Enhancements
11.2.3. Mergers And Acquisition In Global Humic Acid Market
11.2.4. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements
CHAPTER 12. Company Profile
12.1. BASF SE
12.1.1. Company Snapshot
12.1.2. Business Overview
12.1.3. Financial Overview
12.1.3.1. Revenue (USD Million), 2022
12.1.3.2. BASF SE 2022 Humic Acid Business Regional Distribution
12.1.4. Product/Service and Specification
12.1.5. Recent Developments & Business Strategy
12.2. The Andersons, Inc.
12.3. NPK Industries
12.4. Humintech GmbH
12.5. Sikko Industries Ltd.
12.6. Black Earth Humic LP
12.7. Biolchim S.p.A.
12.8. Arihant Bio Fertichem Pvt. Ltd.
12.9. Agro Green Chemicals
12.10. Omnia Specialities Australia
12.11. Faust Bio-Agricultural Services, Inc.
12.12. Wilbur-Ellis Company