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Humic Acid Market Size to procure substantial returns from agriculture applications sector

Author : Ronak Bora | Published Date : 2019-08-09 

Humic acid market will have growth trends particularly due to the demand for a wide range of applications from the sectors such as dietary supplements, horticulture, agriculture, ecological bioremediation and few others including residential farming, vertical farms, gardening, medicinal applications etc.

In short run, the humic acid market growth will witness a restraint of less awareness regarding organic farming benefits in the developing agro-based economies like China, India, Brazil, etc. Also, the availability of low-cost chemical fertilizers and their nutrient composition might impact the product market growth negatively in the immediate future. As per the Department of Fertilizer under Indian Government, by 2020, the demand of urea is projected at over 35 kilo tons in the country, with a stable growth at over 3% CAGR. Such factors might have affect the humic acid industry growth negatively.

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Agricultural application will hold the largest share in the market by 2024, due to growing inclination for organic farming especially in the developed economies. Several government grants and subsidiaries in different nations will further boost the segment growth.

The horticultural application segment is estimated to have revenue more than USD 200 million in the forecast period. Globally increasing awareness regarding the environmental and health hazards of chemical fertilizers is likely to propel the market growth.

Crop management has become a necessity in response to the rising demand for crop yields by the growing population. Overuse of arable land has resulted into degrading soil nutrients and fertility. However, use of humic acid tends to improve the soil texture and water retention properties and thus improves the overall soil productivity. The rising awareness amongst the farmers and agriculturists to maintain and enhance the soil quality for better agricultural output will significantly lead to a surge in humic acid market size.

Asia Pacific humic acid market is anticipated to grow at a rate of 13% over the period of 2016-2024, owing to the rapid economic development and the consequently increasing disposable income of the consumers. Gradually growing organic food industry will further influence the growth of humic acid market in the region.

North America market is estimated to generate revenue over USD 400 million by 2024. The significant presence of U.S. organic food industry is likely to influence the regional industry growth positively in the coming years.

European humic acid market will observe growth trends by 2024 owing to the rapidly growing regional organic sector. Funding initiatives by the government in association with the Common Agriculture Policy will propel the European market growth. The region is estimated to observe revenue more than USD 300 million in the forecast timeframe.

Key market players are Wilbur-Ellis Company, The Andersons, Humintech, NPK Industries, Black Earth Humic, Nature's Lawn & Garden, Biolchim, Grow More, Faust Bio-Agricultural Services, Nutri-Tech Solutions, Agriculture Solutions, Tagrow Co. Ltd., Humic Growth Solutions, Saint Humic Acid, WinField Solutions, Organic Approach, Jiloca Industrial National Pesticides & Chemicals and Sikko Industries.

Glimpse of Table of Content (ToC)

Chapter 3.  Humic Acid Industry Insights

3.1.  Industry segmentation

3.2.  Industry size and forecast, 2013 - 2024

3.3.  Industry ecosystem analysis

3.3.1.     Vendor matrix

3.3.2.     Distributor channel analysis

3.4.  Industry impact forces

3.4.1.     Growth drivers

3.4.1.1.         Growing demand for sustainable agriculture

3.4.1.2.         Rising awareness about the negative impacts of chemical fertilizers

3.4.1.3.         Developing organic food industry

3.4.2.     Industry pitfalls & challenges

3.4.2.1.         Low market penetration in the developing economies

3.4.2.2.         Inconsistent quality of end-products

3.5.  Growth potential analysis

3.6.  Regulatory trends

3.6.1.     U.S.

3.6.2.     Europe

3.6.3.     China

3.7.  Porter’s analysis

3.8.  Company market share, 2016

3.8.1.     Strategic landscape

3.9.  PESTEL analysis

3.10.  Regional price trends

3.10.1.   Cost structure analysis

3.10.2.   Raw material trends

Chapter 4.  Humic Acid Market, By Application

4.1.  Global humic acid market volume share by application, 2016 & 2024

4.2.  Agriculture

4.2.1.     Market estimates and forecasts, 2013 - 2024

4.2.2.     Market estimates and forecasts by region, 2013 – 2024

4.3.  Ecological bioremediation

4.3.1.     Market estimates and forecasts, 2013 - 2024

4.3.2.     Market estimates and forecasts by region, 2013 – 2024

4.4.  Horticulture

4.4.1.     Market estimates and forecasts, 2013 - 2024

4.4.2.     Market estimates and forecasts by region, 2013 – 2024

4.5.  Dietary supplements

4.5.1.     Market estimates and forecasts, 2013 - 2024

4.5.2.     Market estimates and forecasts by region, 2013 – 2024

4.6.  Others

4.6.1.     Market estimates and forecasts, 2013 - 2024

4.6.2.     Market estimates and forecasts by region, 2013 – 2024

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/humic-acid-market

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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