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Phase-Xs | Biologics & Biosimilars | Coherent Market Insights

Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Humic acid is an ingredient obtained from the biodegradation of organic substances such as soil/ humus, peat, and coal. It is a complex mixture of various acids from phenolate and carboxyl groups that can be widely used to provide required nourishment to crops/ plants as well as human beings. Thus, humic acid is widely being used for a variety of applications in the agricultural and pharmaceutical sectors.

The global humic acid market is estimated to surpass US$ 1,240.4 million by the end of 2027 in terms of revenue, exhibiting a CAGR of 11.7% during the forecast period (2021 to 2027).

Drivers

The adoption of eco-friendly fertilizers and chemicals for sustainable farming is expected to boost demand for humic acid in the upcoming years. Furthermore, stringent rules and regulations imposed by statutory governing organizations such as the U.S. EPA (Environmental Protection Agency) against the usage of chemical-based fertilizers are further estimated to fuel the market growth of humic acid, across the globe.

Moreover, increasing need for ecological remediation of soil to reduce carbon footprints and protect soil and groundwater from contamination is generating demand for humic acid. Furthermore, the properties of humic acid such as higher ion exchange and absorption capacity are expected to propel demand for humic acid over the forecast period.

Among regions, Asia Pacific held dominant position in the global humic acid market in 2020, accounting for 43.8% market share, in terms of revenue, followed by Europe and North America.

Figure 1. Global Humic Acid Market Revenue Share (%), By Region, 2020

Humic Acid  | Coherent Market Insights

Market Restraints

Lesser awareness about health benefits associated with humic acid in the emerging economies such as majority of African countries is expected to hamper the market growth over the forecast period. Moreover, lack of consistency in crop yield quality over the application of humic acid is further expected to hinder the market growth to some extent.

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Humic Acid Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2020: US$ 623.5 Mn
Historical Data for: 2017 – 2019 Forecast Period: 2021 to 2027
Forecast Period 2021 to 2027 CAGR: 11.7% 2027 Value Projection: US$ 1,240.4 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: U.K., Germany, France, Italy, Spain, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, ASEAN, South Korea, Australia, and Rest of Asia Pacific
  • Middle East & Africa: Middle East and Africa
Segments covered:
  • By Application: Agriculture, Animal Feed, Ecological Remediation, Dietary Supplements, Pharmaceuticals, and Others
Companies covered:

Faust Bio-Agricultural Services, Humic Growth Solutions, Inc., Italpoliina S.p.A., LaboratoiresGoemar SAS, Koppert B.V., Sikko Industries, Black Earth Humic, Changsha Xian Shan Yuan Agriculture, Agbest Technology, Nature's Lawn & Garden, Humintech, Everwood Farm, Daymsa, and WinField Solutions.

Growth Drivers:
  • Increasing adoption of sustainable agriculture across the globe
  • Surging awareness about benefits associated over usage of humic acid
Restraints & Challenges:
  • Increasing number of substitutes to humic acid

Market Trends

On account of shifting inclination towards sustainable farming, the adoption of humic acids is gaining traction across the agricultural sectors. Thus, players operating in this market are adopting advanced chemicals with varied properties for the production of humic acid, depending upon its end application.

Figure 2. Global Humic Acid Market – Opportunity Analysis

Humic Acid  | Coherent Market Insights

On the basis of application, in 2020, agriculture segment accounted for 52.3% of the revenue share, in the global humic acid market. The increasing need to achieve more yield per area of land for catering to the rising demand for food is expected to support growth of this segment. Moreover, the ability of humic acid to improve the nutritional value of food is further expected to drive its demand in the upcoming years.

Figure 3. Global Humic Acid Market Revenue Share (%), By Application, 2020

Humic Acid  | Coherent Market Insights

Global Humic Acid Market - Impact of Coronavirus (COVID-19) Pandemic

The global market for humic acid has been impacted due to the ongoing COVID-19 pandemic. Several governments across the globe have imposed nationwide lockdowns to limit the spread of the virus, which resulted in the shutting down of businesses and ceasing of several economic activities. For instance, according to the International Monetary Fund’s 2020 report, the global economy has contracted sharply by 3.0% in 2020, which is worse than the 2008-09 financial crisis. Moreover, the reduced demand for fertilizers and pesticides has indirectly led to low demand for the humic sector across the agricultural sector. However, increasing demand for medicines and a variety of acids and chemicals to conduct trials of vaccines is expected to increase demand for humic acid across the pharmaceuticals sector.

Competitive Section

Key players operating in the global humic acid market include Faust Bio-Agricultural Services, Humic Growth Solutions, Inc., Italpoliina S.p.A., LaboratoiresGoemar SAS, Koppert B.V., Sikko Industries, Black Earth Humic, Changsha Xian Shan Yuan Agriculture, Agbest Technology, Nature's Lawn & Garden, Humintech, Everwood Farm, Daymsa, and WinField Solutions.

Humic acid is a mixture of organic compounds obtained by the microbiological and chemical process of debris formation of living organisms into refractory organic compounds. The humic substance mainly accounts for 50-80% organic carbon from the soil, bottom sediments & water and is mainly produced on large scale from natural deposits such as coal and peat. The properties of humic acid include higher absorption capacity, environmental compatibility, and ion-exchange capacity make humic acid a well–suited and attractive material for ecological remediation.

Market Dynamics

There has been a shifting inclination of individuals over usage of natural or organic pesticides in farming. As humic acid is naturally formed by biochemical and molecular mechanisms of waste materials and is non-toxic, its usage in organic farming and horticulture is gaining traction across the globe. Moreover, humic acid contains essential phytochemicals such as fatty acids and hormones and thus assists in cancer treatment. The humic acid assists in the maintaining electrochemical balance of vital body cells and its humic-fulvic acid assists in improving brain function among individuals. Thus, humic acid is also being adopted in the production of pharmaceutical drugs.

Though, an increasing number of substitutes to humic acid such as other carbonates, owing to the difference in the pH levels is expected to hinder demand for humic acids to some extent. Moreover, the chance of fumigates production, while reacting with chlorine in the water is further expected to obstruct the market growth for humic acid in the upcoming years.

Major players operating in the humic acids market are focusing on various strategies such as product development and expansion to widen their global reach. For instance, in September 2020, a U.S.-based agricultural innovation company named PureAcre developed advanced nutritional management products that included both seaweed extracts and humic acid extracts products. These products are expected to produce more yield in limited areas of agricultural land and thus are gaining traction across the globe.

Key features of the study:

  • This report provides in-depth analysis of humic acid market, and provides market size (US$ Million and KT) and compound annual growth rate (CAGR %) for the forecast period (2021-2027), considering 2020 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global humic acid based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study include Faust Bio-Agricultural Services, Humic Growth Solutions, Inc., Italpoliina S.p.A., LaboratoiresGoemar SAS, Koppert B.V., Sikko Industries, Black Earth Humic, Changsha Xian Shan Yuan Agriculture, Agbest Technology, Nature's Lawn & Garden, Humintech, Everwood Farm, Daymsa, and WinField Solutions.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future products launches, technology up gradation, market expansion, and marketing tactics
  • The global humic acid market report caters to various stakeholders in this industry including investors, suppliers, cotton pad manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global humic acid market

Detailed Segmentation:

  • Global Humic Acid Market, By Application:
    • Agriculture
    • Animal Feed
    • Ecological Remediation
    • Dietary Supplements
    • Pharmaceuticals
    • Others
  • Global Humic Acid Market, By Region:
    • North America
      • U.S.
        • By Application:
          • Agriculture
          • Animal Feed
          • Ecological Remediation
          • Dietary Supplements
          • Pharmaceuticals
          • Others
      • Canada
        • By Application:
          • Agriculture
          • Animal Feed
          • Ecological Remediation
          • Dietary Supplements
          • Pharmaceuticals
          • Others
    • Latin America
      • Brazil
        • By Application:
          • Agriculture
          • Animal Feed
          • Ecological Remediation
          • Dietary Supplements
          • Pharmaceuticals
          • Others
      • Argentina
        • By Application:
          • Agriculture
          • Animal Feed
          • Ecological Remediation
          • Dietary Supplements
          • Pharmaceuticals
          • Others
      • Mexico
        • By Application:
          • Agriculture
          • Animal Feed
          • Ecological Remediation
          • Dietary Supplements
          • Pharmaceuticals
          • Others
      • Rest of Latin America
        • By Application:
          • Agriculture
          • Animal Feed
          • Ecological Remediation
          • Dietary Supplements
          • Pharmaceuticals
          • Others
    • Europe
      • U.K.
        • By Application:
          • Agriculture
          • Animal Feed
          • Ecological Remediation
          • Dietary Supplements
          • Pharmaceuticals
          • Others
      • Germany
        • By Application:
          • Agriculture
          • Animal Feed
          • Ecological Remediation
          • Dietary Supplements
          • Pharmaceuticals
          • Others
      • France
        • By Application:
          • Agriculture
          • Animal Feed
          • Ecological Remediation
          • Dietary Supplements
          • Pharmaceuticals
          • Others
      • Italy
        • By Application:
          • Agriculture
          • Animal Feed
          • Ecological Remediation
          • Dietary Supplements
          • Pharmaceuticals
          • Others
      • Spain
        • By Application:
          • Agriculture
          • Animal Feed
          • Ecological Remediation
          • Dietary Supplements
          • Pharmaceuticals
          • Others
      • Russia
        • By Application:
          • Agriculture
          • Animal Feed
          • Ecological Remediation
          • Dietary Supplements
          • Pharmaceuticals
          • Others
      • Rest of Europe
        • By Application:
          • Agriculture
          • Animal Feed
          • Ecological Remediation
          • Dietary Supplements
          • Pharmaceuticals
          • Others
    • Asia Pacific
      • China
        • By Application:
          • Agriculture
          • Animal Feed
          • Ecological Remediation
          • Dietary Supplements
          • Pharmaceuticals
          • Others
      • India
        • By Application:
          • Agriculture
          • Animal Feed
          • Ecological Remediation
          • Dietary Supplements
          • Pharmaceuticals
          • Others
      • Japan
        • By Application:
          • Agriculture
          • Animal Feed
          • Ecological Remediation
          • Dietary Supplements
          • Pharmaceuticals
          • Others
      • ASEAN
        • By Application:
          • Agriculture
          • Animal Feed
          • Ecological Remediation
          • Dietary Supplements
          • Pharmaceuticals
          • Others
      • South Korea
        • By Application:
          • Agriculture
          • Animal Feed
          • Ecological Remediation
          • Dietary Supplements
          • Pharmaceuticals
          • Others
      • Australia
        • By Application:
          • Agriculture
          • Animal Feed
          • Ecological Remediation
          • Dietary Supplements
          • Pharmaceuticals
          • Others
      • Rest of Asia Pacific
        • By Application:
          • Agriculture
          • Animal Feed
          • Ecological Remediation
          • Dietary Supplements
          • Pharmaceuticals
          • Others
    • Middle East & Africa
      • Middle East
        • By Application:
          • Agriculture
          • Animal Feed
          • Ecological Remediation
          • Dietary Supplements
          • Pharmaceuticals
          • Others
      • Africa
        • By Application:
          • Agriculture
          • Animal Feed
          • Ecological Remediation
          • Dietary Supplements
          • Pharmaceuticals
          • Others
  • Company Profiles
    • Faust Bio-Agricultural Services*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Humic Growth Solutions, Inc.
    • Italpoliina S.p.A.
    • LaboratoiresGoemar SAS
    • Koppert B.V.
    • Sikko Industries
    • Black Earth Humic
    • Changsha Xian Shan Yuan Agriculture
    • Agbest Technology
    • Nature's Lawn & Garden
    • Humintech
    • Everwood Farm
    • Daymsa
    • WinField Solutions

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Application
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Market Trends
      • PORTER’s Five Forces Analysis
      • PEST Analysis
      • Key Developments
      • Market Attractiveness Analysis
  4. Global Humic Acid Market - Impact of Coronavirus (COVID-19) Pandemic
    • Overview
    • Factors Affecting Global Humic Acid Market – COVID-19
    • Impact Analysis
  5. Global Humic Acid Market, By Application, 2017- 2027 (US$ Mn & KT)
    • Introduction
      • Market Share Analysis, 2019, 2022 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
      • Segment Trends
    • Agriculture
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn & KT)
    • Animal Feed
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn & KT)
    • Ecological Remediation
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn & KT)
    • Dietary Supplements
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn & KT)
    • Pharmaceuticals
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn & KT)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn & KT)
  6. Global Humic Acid Market, By Region, 2017- 2027 (US$ Mn & KT)
    • Introduction
      • Market Share Analysis, By Region, 2019, 2022 and 2027 (%)
      • Y-o-Y Growth Analysis, For Regions, 2020 - 2027
    • North America
      • Market Share Analysis, By Country, 2019, 2022 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2020 - 2027
        • U.S.
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Mn & KT)
        • Canada
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Mn & KT)
    • Latin America
      • Market Share Analysis, By Country, 2019, 2022 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2020 - 2027
        • Brazil
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Mn & KT)
        • Argentina
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Mn & KT)
        • Mexico
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Mn & KT)
        • Rest of Latin America
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Mn & KT)
    • Europe
      • Market Share Analysis, By Country, 2019, 2022 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2020 - 2027
        • U.K.
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Mn & KT)
        • Germany
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Mn & KT)
        • France
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Mn & KT)
        • Italy
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Mn & KT)
        • Spain
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Mn & KT)
        • Russia
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Mn & KT)
        • Rest of Europe
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Mn & KT)
    • Asia Pacific
      • Market Share Analysis, By Country, 2019, 2022 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2020 - 2027
        • China
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Mn & KT)
        • India
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Mn & KT)
        • Japan
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Mn & KT)
        • ASEAN
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Mn & KT)
        • South Korea
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Mn & KT)
        • Australia
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Mn & KT)
        • Rest of Asia Pacific
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Mn & KT)
    • Middle East & Africa
      • Market Share Analysis, By Sub-Region, 2019, 2022 and 2027 (%)
      • Y-o-Y Growth Analysis, By Sub-Region, 2020 - 2027
        • Middle East
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Mn & KT)
        • Africa
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Mn & KT)
  7. Competitive Landscape
    • Market Share Analysis
    • Company Profiles
      • Faust Bio-Agricultural Services
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Humic Growth Solutions, Inc.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Italpoliina S.p.A.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • LaboratoiresGoemar SAS
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Koppert B.V.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Sikko Industries
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Black Earth Humic
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Changsha Xian Shan Yuan Agriculture
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Agbest Technology
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Nature's Lawn & Garden
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Humintech
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Everwood Farm
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Daymsa
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • WinField Solutions
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

* Browse 50 market data tables* and 40 figures* on "Humic Acid Market” - Global forecast to 2027.

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Frequently Asked Questions

The global humic acid market is estimated to surpass US$ 1,240.4 million by 2027 and is expected to exhibit a CAGR of 11.7% between 2021 and 2027.
The increasing adoption of sustainable agriculture across the globe is expected to drive the market growth during the forecast period.
Rising customer inclination towards usage of natural and organic pesticides is estimated to offer lucrative opportunities for players in the near future.
Increasing number of substitutes like carbonates to humic acid is expected to act as a restraining factor for the market.
Major players operating in the market include Faust Bio-Agricultural Services, Humic Growth Solutions, Inc., Italpoliina S.p.A., LaboratoiresGoemar SAS, Koppert B.V., Sikko Industries, Black Earth Humic, Changsha Xian Shan Yuan Agriculture, Agbest Technology, Nature's Lawn & Garden, Humintech, Everwood Farm, Daymsa, and WinField Solutions.
The market was valued at US$ 623.5 million, in terms of revenue in 2020.
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