Global Humic Acid Market 2017-2021
About Humic Acid
Humic acid is an organically formed acid and is rich in nitrogen, carbon, hydrogen, sulfur, and other essential elements. It improves the water intake capacity in plants. It is widely used in the agriculture segment to increase the yield of crops and enhance nutritional value. Humic acid is used as a supplement in agriculture, horticulture, and dietary applications. It is used in skin products to cure various skin problems. It is also used in bioremediation.
Technavio’s analysts forecast the global humic acid market to grow at a CAGR of 12.45% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global humic acid market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Humic Acid Market 2017-2021
Technavio recognizes the following companies as the key players in the global humic acid market: Biolchim, Humic Growth Solutions, Humintech, Jiloca Industrial, and Omnia Holdings.
Other Prominent Vendors in the market are: ARIHANT BIO FERTICHEM, Black Earth Humic, Faust Bio-Agricultural Services, HCM AGRO PRODUCTS, Horizon Ag-Products, Minerals Technologies, National Pesticides & Chemicals, Nature's Lawn & Garden, Nutri-Tech Solutions, Saint Humic Acid, Shandong Chuangxin Humic Acid Technology, Sikko Industries, The Andersons, Wilbur-Ellis Holdings, and WinField Solutions.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing demand for green fertilizers. The growth in the agriculture industry to meet the demand for food production for the growing population is expected to propel the market growth for humic acid. Increasing awareness about harmful effects of synthetic fertilizers, inorganic chemical compounds, and artificial compounds in developed countries is likely to increase the demand for organic compounds like humic acid and fulvic acid.”
According to the report, one driver in the market is growing demand for organic food. The increasing awareness about healthy food consumption and its impact on metabolic, physical, chemical, and biological activities have accelerated the growth of the global humic acid market. Growing concerns about organic food and healthy lifestyle have reduced the use of synthetic fertilizers to a large extent. Through the process of foliar application and soil treatment, the porous nature of the soil is enhanced to trap the nutrients and increase the holding capacity of beneficial nutrients.
Further, the report states that one challenge in the market is inconsistency in quality. The quality of humic acid depends upon the composition percentage of nitrogen, hydrogen, potassium, sulfur, and other nutrients. The molecular weight plays a prominent role in delivering the results. The quality depends on the concentration and the form in which it is used. For agriculture purpose, a liquid-based water-soluble form of humic acid gives the best result. The form varies with the type of soil and the cycle of plant stage. In general, the quality of humic acid is high when organically derived from humate matter through the process of wet-chemistry.
Biolchim, Humic Growth Solutions, Humintech, Jiloca Industrial, and Omnia Holdings, ARIHANT BIO FERTICHEM, Black Earth Humic, Faust Bio-Agricultural Services, HCM AGRO PRODUCTS, Horizon Ag-Products, Minerals Technologies, National Pesticides & Chemicals, Nature's Lawn & Garden, Nutri-Tech Solutions, Saint Humic Acid, Shandong Chuangxin Humic Acid Technology, Sikko Industries, The Andersons, Wilbur-Ellis Holdings, and WinField Solutions.
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