Propelled by the rapidly growing farming industry together and the thriving demand for dietary supplements globally, the humic acid market is set to grow at a rapid pace in the near future. With the rising importance of sustainable agriculture in most parts of the world, there is a stronger need to enhance the soil structure while ensuring that the plants hold water. This product also holds great importance in the growth and maintenance of urban landscapes such as a park, golf courses, and lawns in absence of high-analysis NPK fertilizers.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/1517
Humic acid is a chemical derived from decaying plants and is very effective in saving a lot of the farmer’s money and time. In fact, it is highly favored over fertilizers in enhancing nutrient uptake and plant growth. Increasing application scope in the preparation of medicines is also driving the development of the humic acid industry.
Nothing these trends, a large number of product suppliers and manufacturers are placing targeted efforts on developments and formulations to meet the rising end-user demand. To quote an instance, in February 2021, Wilbur-Ellis introduced its Perfection brand of fertilizers, comprising puric humic acid for improving nutrient uptake, for easily tapping into the nutrition programs.
Mentioned below are a few prominent trends fostering the growth of the humic acid industry in the rising years.
- Application of humic acid in the agriculture sector
Humic acid plays a crucial role in helping the plant roots receive nutrients and water whilst increasing the yields. It not only gives more space for bacterial activities and root growth but also enhances the soil structure. The acid offers accelerated nutrient uptake, drought tolerance, as well as seed germination. Growing prominence as an excellent root stimulator along with helping farmers and gardeners aerate the soil and lower the pH level to promote better plant health will additionally drive the product adoption.
- Potential in dietary supplements
Humic acid is predominantly incorporated in dietary foods as it is packed with minerals that are needed for every aspect of the health, spanning from bone development, heart & eye health, digestion and mental well-being. Owing to the presence of trace minerals that further work with other vitamins and enzymes, the acid helps carry out vital chemical reactions in the body. This ensures that the body is running smoothly, subsequently complementing the humic acid market application outlook.
- North America as a key market
Increasing usage of biostimulants and fertilizers, as well as the optimum count of organic agricultural programs for supporting high soil microbial activity and diversity, will anchor the humic acid penetration in North America. The growing consumer health wellness and the surging rate of dietary supplement intake will also favor the product penetration in the region.
- Asia Pacific to record higher consumption
The booming agricultural sector in several parts of the APAC region and the rising efforts on transferring important micronutrients into bioavailable food will stir the demand for humic acid. Ease of access to the product in granule and powder form along with the robust presence of some well-known manufacturers and suppliers will also anchor the regional humic acid industry growth.
Some of the major findings in the Humic Acid Market report include:
- Dietary supplements application segment dominated the global industry and is expected to cross 11.7% market share by 2028.
- Agriculture segment is anticipated to grow at a CAGR of over 12% from 2022 to 2028.
- The market is moderately consolidated owing to the presence of several small & large players, and new industry entrants face moderate entry barriers due to the requirements of technological expertise and low capital investments.
Request for customization of this research report @ https://www.gminsights.com/roc/1517
Additionally, the product is widely consumed in the medicinal sector on account of its ability to stimulate the immune system and treat flu, swine flu, among other viral infections. It is largely preferred over fulvic acid as it is abundant and easy to extract as well as concentrate whilst containing a bit of nitrogen.
About Global Market Insights
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.
Corporate Sales, USA
Global Market Insights, Inc.
Toll Free: 1-888-689-0688
Email: [email protected]
Read More Report: