Humic Acid Market Will Generate All New Growth Opportunities, Projected To Reach USD 1708.22 Million At a CAGR of 12%
The global Humic Acid market is expected to reach USD 1708.22 Million by 2032, according to a new report by Reports and Data. Growing demand of humic acid from various applications coupled with increasing adoption of organic farming globally is a key factor influencing market growth.
Agricultural
centers across the globe have been experimenting on the effect of humic acid on
plants. According to available literature, the ability of soil to plant root
growth does not depend only on the concentration of nutrients but also on its
organic matter content, depth, texture, acidity and water-retention capacity.
Based on results, humates have been found to influence crop yields by improving
soil texture, water retention and nutrient buffering capacity
Europe
is expected to grow at a CAGR of 12% in the forecast period. A number of crops
and fruits & vegetables, which have been experimented for measuring the
effect of humic acid, are grown on a large scale in Europe. Some of these
include grapes, pears, tomatoes, potatoes, wheat and maize. Application of
humic acid across these crops is expected to enhance the root-shoot growth and
promote microbial activity. Along with this, humates are also responsible for
improving the water-retention capacity and absorption of nutrients by plants.
Based on experiments, treatment of humic acid on grapevines led to an increase
in plant growth and nitrogen and chlorophyll content in leaves (measured using
SPAD values). Along with this, the size of the grapes also increased thereby
implying an increase in total yield.
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Further key findings from the report suggest
- Pharmaceutical
segment is projected to be one of the fastest growing applications of the
Humic Acid. It is anticipated to grow at a CAGR of 5.7% in the forecast
period. Humates which are formed from peat have been used for the
treatment of gastric, intestinal and hepatic diseases. Humic acid is
generally used for musculoskeletal disorders, gynecological problems and
skin treatment. Adoption of humic acid in organic farming is expected to
play a major role in improving the health of consumers across the globe.
- Europe is
projected to grow significantly in the forecast period. Manufacturers of
animal feed in Europe are also anticipated to adopt humic acid as an
ingredient. Increasing gastrointestinal infections coupled with the
growing incidence of zoonotic diseases in the region is likely to lead to
an increase in adoption of humic acid. Adoption of humic acid for
producing animal feed is expected to ensure an improved utilization of
nutrients in animals thereby stabilizing the feces consistency of animals.
- Key
participants include Nutri-Tech Solutions, Humintech GmbH, Humic Growth
Solutions, Omnia Specialities, Canadian Humalite International, Grow More,
AMCOl International and Jiloca International S.A. Humintech GmbH is a key
player in the humic acid market. With a consumer base in almost 70
countries, the company has been ranked as the leading technology company
for humic acid based products.
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For
the purpose of this report, Reports and Data have segmented global Humic Acid
market on the basis of type, application and region:
Product Outlook (Volume, Kilo Tons; 2018-2032 and Revenue, USD Million;
2018-2032)
- Powdered Form
- Granular Form
Application Outlook (Volume, Kilo Tons; 2018-2032 and Revenue, USD
Million; 2018-2032)
- Agriculture
- Industrial
- Animal Feed
- Pharmaceutical
Regional Outlook (Volume, Kilo Tons; 2018-2032 and Revenue, USD Million;
2018-2032)
- North America
- U.S.
- Europe
- Germany
- UK
- Asia Pacific
- China
- India
- Latin America
- Brazil
- MEA
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