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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.
HYDERABAD, TELANAGANA, INDIA, September 23, 2022 /EINPresswire.com / -- 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. 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.
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This IndustryARC report on the Humic acid market highlights the following areas -
1. 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.
2. 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.
3. 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.
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1. 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.
2. 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.
3. 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.
The top 5 players in the Humic Acid industry are:
1. AGBEST TECHNOLOGY CO., LTD.
3. Biolchim Spa
4. Black Earth Humic
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