How Has The Humic Based BiostimulantsMarket Size Evolved In Recent Years?
The humic based biostimulants market has seen considerable growth due to a variety of factors.
• In recent years, there has been significant growth in the market for humic based biostimulants. The market, which is projected to expand from $0.75 billion in 2024 to $0.85 billion in 2025, boasts a compound annual growth rate (CAGR) of 13.4%.
Factors such as an increase in consumer preference for organic produce, a rising global population, government incentives and support, burgeoning agriculture industry, and escalated research and development have all contributed to the growth experienced in the historical period.
What Is The Projected Growth Of The Humic Based Biostimulants Market?
The humic based biostimulants market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for humic based biostimulants is projected to witness substantial growth in the coming years, reaching a value of $1.46 billion in 2029, with a compound annual growth rate (CAGR) of 14.5%.
The expansion in the forecast period can be linked to increased demand for sustainable farming, escalating food requirements, heightened awareness about crop protection's significance, and a rise in disposable income. Key trends in the forecast period encompass tailored formulations, biostimulants usage for non-food crops, combinations of biostimulants, as well as collaboration and partnerships.
What Key Factors and Trends are Driving the Growth of the Humic Based Biostimulants Market?
Boost in the preference towards sustainable farming methods is propelling the humic-based biostimulants market. This growth is a response to the growing population and the escalating need to generate high-quality crops. A spokesperson from Agricen Sciences, an applied sciences research firm, pointed out that the biostimulants market is on a drastic upward trend worldwide, including places like the USA and Europe. Parallelly, the trend of organic farming has bumped up the application of humic-based biostimulants globally. For instance, May 2023 saw a revelation from the Organic Trade Association, a US-based business group, stating that organic food sales in the United States for the year 2022 surpassed the $60 billion mark for the first time, signaling a noteworthy achievement for the vigorous organic sector. The total organic sales, counting both the organic food and non-food products, hit a remarkable $67.6 billion. Consequently, the shift towards sustainable solutions, together with the rise in organic farming, is anticipated to fuel the humic-based biostimulants market during the projected period.
What are the Market Segments in the Humic Based Biostimulants Market?
The humic based biostimulants market covered in this report is segmented –
1) By Type: Fulvic Acid, Humic Acid, Potassium Humate
2) By Type Of Formulation: Liquid, Water-Soluble Granules, Water-Soluble Powders
3) By Mode of Application: Agriculture, Cereals, Fiber Crops, Fruits And Vegetables, Oilseeds
4) By End-User: Farmers, Related Industries, Research Institutes
Subsegments:
1) By Fulvic Acid: Liquid Fulvic Acid Formulations, Powdered Fulvic Acid Products
2) By Humic Acid: Liquid Humic Acid Formulations, Granular Humic Acid Products
3) By Potassium Humate: Soluble Potassium Humate, Granular Potassium Humate
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What Trends are Shaping the Humic Based Biostimulants Market?
Advancements in humic-based biosimulant technology, such as incorporating varying minerals, are reinventing the humic-based biostimulants market. Global companies focusing on diverse agricultural resolutions are incorporating chelated minerals to boost the nutritional content of crops and plants. For instance, HuminTech, a German humic substances manufacturer, has introduced a humic-based biostimulant infused with iron chelation. This product can prevent and rectify symptoms of iron deficiency in plants, while also enhancing their resilience against non-living stress factors.
Who Are the Key Players in the Humic Based Biostimulants Market?
Major companies operating in the humic based biostimulants market include:
• Syngenta AG
• Biolchim S.P.A.
• FMC Corporation
• Haifa Group
• UPL Limited
• Bayer AG
• Sikko Industries Ltd.
• Humintech GmbH
• Promisol
• Novihum Technologies GmbH
• Borregaard
• Qingdao Future Group
• Bioline
• Humic Growth Solutions
• Actagro LLC
• Rovensa S.A.
• Tagrow
• Cifo S.P.A.
• Loveland Industries Inc.
• Eastman Chemical Company
• OMEX Agricultural Holdings Limited
• LALLEMAND Inc.
• Agrinos AS
• Brandt Consolidated Inc.
• Koppert Biological Systems B.V.
• Valagro S.p.A.
• Marrone Bio Innovations Inc.
• Novozymes A/S
• Biovert S.L.
• Black Earth Humic LP
• Nutri-Tech Solutions Pty. Ltd.
• Biostadt India Limited
• Bioiberica S.A.U.
• Fertiplus International BV
• BioAtlantis Ltd.
What are the Regional Insights into the Humic Based Biostimulants Market?
North America was the largest region in the humic-based biosimulants market in 2024. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the humic based biostimulants market market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
