Humic acid is complex mixture of many different acids containing carboxyl and phenolate group. It is produced from process of biodegradation of dead organic matter. The overall application scope of the humic acid includes ecological bioremediation, horticulture, dietary supplement, agriculture and other. The global humic acid market is expected to offer significant growth as a result of its increasing demand in agriculture. This industry used humic acid as a soil supplement for crops, and has sets its increasing consumption die to demand for high quality food. Moreover, humic acid is considered as most chemically active compound which is driving its consumption in the industrial applications. According to the report publisged by the WHO, world agriculture yield must be increased by 50% per hector to meet the growing demand of food. This in turn, sets the growing usage of humic acid in agriculture and offering promising future. On the other hand, formers in the developed economies are shifting on organic farming due to global demand for inorganic products. Organic product demand likely to support the use of humic acid over the forecast period of 2017 to 2023.
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Major Key Players:
Global Humic Acid market was on the rise over the over the course of last five years, driven by strong demand from agriculture industries linked with widening application scope. The market as a whole moderate great statistics in terms of consumption and is increasing year by year. On the other hand, taking into account the growth offered by global humic acid market, it is expected to be flooded by the mid-scaled and small scaled manufacturers over the assessment period. Biochim S.p.a., HCM Agro Products, Humictech Gmbh, Humic Growth Solutions Inc, Jiloca Industries S.A., Omnia Holdings Ltd are some of the major industry players operating in the humic acid market. The global market is operating at moderate degree of competition and with increasing in agriculture yield, market competition to increase over the forecast period.
The major players operating in the global Humic Acid market are Biochim S.p.a.(Italy), HCM Agro Products, (India), Humictech Gmbh (Germany), Humic Growth Solution Inc (the U.S.), Jiloca Industries S.A. (Spain), Omnia Holdings Ltd (South Africa), Saint Humic Acid (China), Sikko Indusyries ltd (China), Arihant Bio Fertichem (India), Black Earth humic LP (Canada), Horizon AG-Products (U.S.) and are profiled in this market and included in the MRFR analysis.
Industry/ Innovation/ Related News:
Jun 18, 2017- Tranlin Inc, has launched unique line plant based humic acid fertilizer VASTLY. His product help farmers to undertake effective and cost efficient way of farming to improve long tern soil health, enhance nutrient uptake, increase plant vigor, and boost yield.
May 2, 2017 – Pitchcare has launched new humic acid product formulation i.e. Humikmax. The product has specifically developed for tank mixing with highly efficient, enhanced foiler absorption formulation. Newly launched humic acid formulation increases soil carbon, enhances nutrient uptake, improves soil structure, support diverse soil biology population and supports natural plant defences.
October 19, 2016- Biochim has launched two humic acid products named SIVEG® GR and BIO ENERGY® VEG. SIVEG® GR is completely made of vegetal origin raw material, rich in amino acid, humic acid betaines and high percentage of organic matter. These two products offers new market challenge for Biochem. These two products to offer several growth factors in the agriculture market
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North America emerged as the global leader for humic acid and has accounted for largest global markets adhere. The region anticipated to further retain their dominance over the forecast period of 2017 to 2023. Growing demand for organic products in the U.S. and Canada along with huge addressable population rise in this region is considered as the market driver. On the other hand, Asia Pacific to be the game changer in this market over the assessment period. The region has large dynamic economies with high agriculture and industrial manufacturing base, due to which demand for humic acid is expected to rise on a great level. India and China are among the countries which have high agricultural base and large industrialization as compared to other countries in Asia Pacific region.
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