Humic Acid Market size forecast to grow with 14% CAGR to surpass USD 1.4 billion by 2026 as per the report of Global Market Insights, Inc.
Humic acid market has seen remarkable growth proceeds over the recent years. With rising consciousness pertaining to consuming healthy food, the need for organic food products is tremendously expanding. Humic substances play an essential role in building a nutritious soil system which significantly contribute towards development of more resilient plants. What has prompted the explicit use of these substances in fruit, vegetable, and crop production is a decrease in agricultural land worldwide.
“The much dreaded COVID-19 pandemic, that has claimed lives and disrupted businesses globally. Its aftermath however, need not necessarily be characterized by adverse effects, as the virus is expected to bring about numerous growth opportunities. This report delivers a detailed analysis of the global economic slowdown, impact of COVID-19 on this market, and the effects of the latest scenario on the business outlook.”
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To meet the requirement of a consistently growing population, agricultural demand, by 2050, may increase by nearly 50 percent as compared to 2013, as reported by Food and Agriculture Organization report. Additionally, it has been apprehended that worldwide food demand is anticipated to rise anywhere between 59 to 98 percent by the end of 2050. Therefore, to suffice this, farmers are turning towards sustainable farming techniques and methods which would potentially enhance their production capabilities.
Considering this reduction, crop management has become a necessity today owing to the growing demand for crop yields in order to feed an ever-increasing population. Over exploitation of arable lands has led to degradation and depletion of soil nutrients and fertility.
However, use of humic acid across this land tends to enhance its water retention properties along with the soil texture, thereby improving the complete soil productivity. Mounting cognizance amongst agriculturists and farmers to maintain and augment the quality of soil for obtaining high agricultural output would substantially bring about a revolution in humic acid market in the upcoming years.
With this increasing demand of organic products in U.S. and Canada, North America region is projected to stand tall in humic acid market in the near future. Reports suggest that over 30 per cent of homes across the U.S. make use of organic food products due to rising awareness and high economic affluence of the residents. It is prudent to mention that North America, additionally, also houses the presence of one of the most prominent humic acid providers – Black Earth Humic.
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Company profiled in the humic acid market report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Andersons, Inc.
2. Everwood Farm
3. Nature’s Lawn & Garden
4. Faust Bio-Agricultural Services
5. Humintech GmbH
6. Changsha Xian Shan Yuan Agriculture and Technology
7. Agriculture Solutions Inc.
8. NPK Industries
9. Nutri-Tech Solutions Pty Ltd.
10. Tagrow Co. Ltd.
Apart from agricultural sector that is leveraging high end benefits of humic acid, the product also finds widespread applications in horticulture, dietary supplements, vertical farms, medicines, residential gardening, and many others. Considering various health benefits of humic acid, the dietary supplements sector is estimated to amass noteworthy gains over the upcoming years. Humic acid products help in detoxification of human body and also boost the immune system.
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.
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