Humic Acid Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2022-2027
Humic Acid Market Overview
Humic acid market size was valued at US$570.3 million in 2021 and is projected to grow at a CAGR of 7.5% during 2022-2027. The humic substances are mainly categorized into humic acid, fulvic acid, and humin. Humic acid is a broken constituents of dead organic matter of animal and plant materials, and is referred to as complex molecules and also naturally present in ocean, soil, and fresh water. The organic acids take longer time for the decomposition in the natural environment and majorly found in pre-historic deposits. Humic acid is a dark brown substance used to increase the plant yields by binding and help plant roots to receive nutrients and water. It helps gardeners and farmers to grow crops containing higher nutrients as it is an important medium to transport nutrient to the plants from soil. It is soluble in water and stays for centuries in the undisturbed soil. The major benefits associated with the use of humic acid are increased nutrient uptake in plants, reduced toxins in the soil, providing superior water retention to the soil, enhanced microbial growth, and offers improved soil quality. There is an extensive research going-on to discover the content of phenolic compounds in the hydrolyzates of humic acid depending on the plant litter properties.
Many of the industries across the global have faced several challenges due to the COVID-19 pandemic. The industries such as pharmaceutical and cosmetics, agriculture, paints and coatings, and ceramics including many other have experienced pitfalls. Many projects in such industries have been halted due to an interrupted supply chain and employee shortages due to quarantines. Also, the production and demand in paints and coatings industry has declined due to an interrupted supply chain and cessation in transportation of raw materials. Moreover, there was a sharp decrease in the production of pharmaceutical and cosmetics due to factory shut down. Thus, the global pause in industrial production and distribution, the demand and consumption of humic acid has hampered to an extent in several industries.
The report: “Humic Acid Market Report – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the humic acid industry.
By Form: Liquid, Powder,
By Packaging Type: Pouches, Bags, Bottles, and Others.
By Purity: Up to 98%, 99%, and 100%.
By Application: Agriculture, Horticulture, Pharmaceutical and Cosmetics (Dietary Supplement, Bath Salts, and Others), Ecological Remediation, Paints and Coatings, Ceramics, Printing Inks, and Others.
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), and South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and Rest of the World (Middle East and Africa).
- Asia Pacific is the fastest growing region in the global humic acid market. This growth is mainly attributed to the increased demand for sustainable products mainly in agriculture sector.
- Liquid humic acid is expected to be the fasted growing segment by form owing to the surge in demand from range of end use industries and ease of application.
- Humic Acid plays an important role in several industries especially in the agriculture and horticulture which is expected to provide significant growth opportunity for the global market.
Figure: Europe Humic Acid Market Revenue, 2021-2027 (US$ Billion)
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Humic Acid Market Segment Analysis – By Form
The granule segment held the largest share in the humic acid market in 2021 and it accounts for around 45% of share in the global market. Granular form of humic acid facilitates easy application and is suitable for wide range of crops. It also provides long term stability to soil environments. It is considered as the most concentrated source of humic acid which can be used in vegetable gardens, turf, potted plants, and fields. It is extracted from decomposed plant material which is crushed, screened, and graded to the required particle size. It is suitable to use in pants with long growth periods such as corn, beets, soybeans, and potatoes including other crops. The companies are offering granular humic acid which is air dried and free flowing and can be easily blend with native soil.
Humic Acid Market Segment Analysis – By End-Use Industry
The agriculture segment held the largest share in the humic acid market in 2021 and it accounts for around 25% share in the global market. In agriculture sector, humic acid is largely used as an organic fertilizer in order to provide constant nutrients to the plants. It strengthens nutrients absorption and utilized to adsorb several trace elements such as iron, magnesium, potassium, copper, and zinc. It increases the fertility of the soils when used for years and improves chemical and physical properties of the soil. In agriculture, it can be used as seed fertilizer and base fertilizer. It is an organic way to provide soil and plants with continuous supply of nutrients, trace elements, and vitamins, which enable plants growth and fertility of the soil. It increases water holding capacity of the soil, stimulates microbial activity, removes toxins, increases germination, enhances crop volume, and stimulates root growth.
Humic Acid Market Segment Analysis – By Geography
The Europe is the leading region accounts for the largest share in the humic acid market in 2021 and held nearly 30% of market share. This growth is mainly attributed to the increase in organic farming and rise in demand for organic agricultural products. Over the past years, there is increased trend toward organic food and farming in Europe. According to IFOAM Organics Europe, the total area under organic farming in Europe has grown to 14.6 million hectors in 2019 and number of organic producers increased by 5.1% to 343,858 in the same year. This area under organic farming is categorized into vegetables and cereals, permanent grasslands, and fruits trees and olive groves. Thus, surge in organic farming is expected to further increase the demand for humic acid in this region.
Humic Acid Market Drivers
Surge in Organic Farming and Demand for Organic Agricultural Products
Humic acid fertilizer is referred to as organic fertilizer as humic acid contains huge amount of organic matter which is extracted by several transformation processes. It improves the water retention ability of crops and absorbs beneficial trace elements such as iron, manganese, copper, zinc, etc. It produces healthy soil and enhances the microbial growth in soil. It is potential fungi promotant, stabilizes nitrogen and improves nitrogen efficiency, promote seed germination, and are microbe friendly. Over the past few years, there is a two-fold growth in organic farming owing to the consumer inclination toward organic products and change in lifestyle. According to Food and Agriculture Organization (FAO) of the United Nations, currently organic farming is adopted by 187 countries, around 72.3 million hectares of land is managed under organic farming, and 3.1 million farmers are actively involved in it. Moreover, favorable government policies and adoption of novel farming technologies further boosts the organic farming. Thus, growth in organic farming and demand for organic agricultural products are expected to fuel the demand of global humic acid market.
Growth in Industrial Application of Humic Acid
Humic acid is largely used to increase water retention in plant, to enhance nutrient uptake, and develop seed germination. It also helps to maintain the pH of the soil to neutral level which facilitates better plant growth. However, the application of humic acid is just not limited to agriculture; it is extensively used in ceramics, batteries, defamers, greases and lubricants, paints and coatings, pharmaceutical and cosmetics, and printing inks including many others. In ceramics application, humic acid is used as dispersant agent and liquefier. Owing to its stability at high temperature and organophilic nature, it is used as special additive for modifying gel structure in lubricants and greases. In industrial paints and coatings, it is utilized as black tinting agents and pigment. Polymers Paints Color Journal has stated that the global coatings industry was valued at around US$ 155 Bn in 2019 and Asia Pacific holds for around 46% share in the global market. In pharmaceutical and cosmetics application, it can be used to produce bath salts and to treat gynecological diseases and rheumatic. Thus, extensive range of application areas of humic acid is boosting the growth of global market.
Humic Acid Market Challenges
Health Concerns Associated with the Use of Humic Acid
Humic acid is utilized as accessible material that is used in animal husbandry and agriculture in the form of organic substance for growth stimulation. Apart from this, it is also employed in several other applications such as ceramics, paints and coatings, lubricants, and to treat range of illness. Humic acid is considered safe and does not affect bleeding, clotting plate count, and thrombin, however, researchers have stated that consumption of humic acid creates a feeling of hyperventilating during first few days. In some cases, it is reported to cause cytotoxicity. Humic acid is naturally present in the fresh water resources and during disinfection process it may convert into carcinogenic material such as trihalomethanes which can have harmful effects on human health. Thus, the health issues associated with the use of humic acid is restraining the growth of global market.
Humic Acid Industry Outlook
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Humic Acid market. Humic acid top 10 companies include -
- AGBEST TECHNOLOGY CO., LTD.
- Biolchim Spa
- Black Earth Humic
- Humintech GmbH
- JINGFENG HUMIC ACID
- Saint Humic Acid
- Wilbur-Ellis Holdings, Inc.
- In February 2021, Wilbur-Ellis Holdings, Inc. has introduced a new lineup for blended fertilizer PERFECTION in order to provide turf industry which provides tailored solutions to every nutrition need.
- In December 2019, LebanonTurf has developed an innovative fertilizer club MD in order to deliver superior turf quality and golf course playability. The fertilizer is produced with a combination of meth-ex slow release nitrogen, humic acid, and stress buffering sea plant kelp meal.
Fertilizers Market- Forecast (2022-2027)
Report Code: AGR 0007
Fertilizer Market- Forecast (2022 - 2027)
Report Code: CMR 0542
LIST OF TABLES
LIST OF FIGURES1.US Humic Acid Market Revenue, 2019-2024 ($M)
2.Canada Humic Acid Market Revenue, 2019-2024 ($M)
3.Mexico Humic Acid Market Revenue, 2019-2024 ($M)
4.Brazil Humic Acid Market Revenue, 2019-2024 ($M)
5.Argentina Humic Acid Market Revenue, 2019-2024 ($M)
6.Peru Humic Acid Market Revenue, 2019-2024 ($M)
7.Colombia Humic Acid Market Revenue, 2019-2024 ($M)
8.Chile Humic Acid Market Revenue, 2019-2024 ($M)
9.Rest of South America Humic Acid Market Revenue, 2019-2024 ($M)
10.UK Humic Acid Market Revenue, 2019-2024 ($M)
11.Germany Humic Acid Market Revenue, 2019-2024 ($M)
12.France Humic Acid Market Revenue, 2019-2024 ($M)
13.Italy Humic Acid Market Revenue, 2019-2024 ($M)
14.Spain Humic Acid Market Revenue, 2019-2024 ($M)
15.Rest of Europe Humic Acid Market Revenue, 2019-2024 ($M)
16.China Humic Acid Market Revenue, 2019-2024 ($M)
17.India Humic Acid Market Revenue, 2019-2024 ($M)
18.Japan Humic Acid Market Revenue, 2019-2024 ($M)
19.South Korea Humic Acid Market Revenue, 2019-2024 ($M)
20.South Africa Humic Acid Market Revenue, 2019-2024 ($M)
21.North America Humic Acid By Application
22.South America Humic Acid By Application
23.Europe Humic Acid By Application
24.APAC Humic Acid By Application
25.MENA Humic Acid By Application