The Asia Pacific humic acid market is expected to grow from US$ 318.63 million in 2022 to US$ 780.42 million by 2030. It is estimated to grow at a CAGR of 11.8% from 2022 to 2030.
In recent years, the livestock industry in various countries has expanded rapidly with a shift in consumers’ diet preferences toward animal proteins. Poultry is perceived as a cost-effective protein source. Population growth, income surge, elevating living standards, and urbanization have been the key factors propelling the demand for meat worldwide. The increasing demand for meat products highlights the need for animal feed and feed additives. China is the world's largest producer of livestock products and animal feed. Further, Thus, the rising demand for natural animal feed products in different parts of the world is expected to bolster the humic acid market in the coming years.
The governments of Asian countries are encouraging farmers to adopt sustainable agricultural practices by providing incentives and investing in research and development. Japan has set a goal to reduce chemical fertilizer and pesticide usage by 30% and 50%, respectively, by 2050. Similarly, Government of India is promoting biofertilizers through various schemes such as National Mission for Sustainable Agriculture (NMSA)/Paramparagat Krishi Vikas Yojana (PKVY), Rashtriya Krishi Vikas Yojana (RKVY), National Mission on Oilseeds and Oil Palm (NMOOP), National Food Security Mission (NFSM), and Indian Council of Agricultural Sciences (ICAR). Such government initiatives in Asia Pacific drive the humic acid market growth in the region.
Based on form, the Asia Pacific humic acid market is segmented into dry and liquid. The dry segment held a larger Asia Pacific humic acid market share in 2022.
Based on application, the Asia Pacific humic acid market is segmented into agriculture, horticulture, ecological bioremediation, dietary supplements, and others. The agriculture segment held the largest Asia Pacific humic acid market share in 2022.
Based on country, the Asia Pacific humic acid market has been categorized into India, China, Japan, Australia, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific humic acid market in 2022.
Agbest Technology Co Ltd, Agricultural and Mining Development SA, Grow More Inc, Humic Growth Solutions Inc, Humintech GmbH, and MYCSA Ag Inc. are some of the leading companies operating in the humic acid market in the region.
Rising Demand for Natural Feed Additives Fuels Asia Pacific Humic Acid Market
There is a growing consumer preference for natural and organic food products, including meat, dairy, and eggs. This shift is driven by concerns about synthetic additives, antibiotics, and hormones in animal feed and their potential impact on human health. Humic acid, being a natural compound derived from organic matter, matches the requirements of consumers seeking natural and organic food products. It helps improve animal digestion and nutrient absorption, leading to better feed conversion and growth rates. It also enhances immune function and reduces the risk of infections in livestock, promoting overall animal health and well-being. As animal farmers aim to optimize productivity while maintaining animal welfare, the demand for feed additives such as humic acid increases. According to the article Humic Substances as a Feed Supplement and the Benefits of Produced Chicken Meat, published by MDPI AG, humic acid enhances the digestibility of animals, absorption of nutrients, and the overall health of the gastrointestinal tract. Furthermore, gut microbiota plays a vital role in animal health and nutrient utilization. Humic acid has been shown to positively influence gut microbiota by promoting the growth of beneficial bacteria and inhibiting the reproduction of harmful pathogens. This helps maintain a healthy gut environment and can improve feed efficiency and animal performance.In recent years, the livestock industry in various countries has expanded rapidly with a shift in consumers’ diet preferences toward animal proteins. Poultry is perceived as a cost-effective protein source. Population growth, income surge, elevating living standards, and urbanization have been the key factors propelling the demand for meat worldwide. The increasing demand for meat products highlights the need for animal feed and feed additives. China is the world's largest producer of livestock products and animal feed. Further, Thus, the rising demand for natural animal feed products in different parts of the world is expected to bolster the humic acid market in the coming years.
Asia Pacific Humic Acid Market Overview
The Asia Pacific humic acid market is segmented into India, China, Japan, Australia, South Korea, and the Rest of Asia Pacific. The rising population of countries such as China and India subsequently increase the food demand in the region. Rising food demand and declining agricultural fields propel the need for strong fertilizers to improve crop productivity. Also, the emerging trend of using organic fertilizers to improve crop productivity by complying with environmental regulations to attend to sustainability is expected to boost the demand for humic acid products over the coming years.The governments of Asian countries are encouraging farmers to adopt sustainable agricultural practices by providing incentives and investing in research and development. Japan has set a goal to reduce chemical fertilizer and pesticide usage by 30% and 50%, respectively, by 2050. Similarly, Government of India is promoting biofertilizers through various schemes such as National Mission for Sustainable Agriculture (NMSA)/Paramparagat Krishi Vikas Yojana (PKVY), Rashtriya Krishi Vikas Yojana (RKVY), National Mission on Oilseeds and Oil Palm (NMOOP), National Food Security Mission (NFSM), and Indian Council of Agricultural Sciences (ICAR). Such government initiatives in Asia Pacific drive the humic acid market growth in the region.
Asia Pacific Humic Acid Market Revenue and Forecast to 2030 (US$ Million)
Asia Pacific Humic Acid Market Segmentation
The Asia Pacific humic acid market is segmented into form, application, and country.Based on form, the Asia Pacific humic acid market is segmented into dry and liquid. The dry segment held a larger Asia Pacific humic acid market share in 2022.
Based on application, the Asia Pacific humic acid market is segmented into agriculture, horticulture, ecological bioremediation, dietary supplements, and others. The agriculture segment held the largest Asia Pacific humic acid market share in 2022.
Based on country, the Asia Pacific humic acid market has been categorized into India, China, Japan, Australia, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific humic acid market in 2022.
Agbest Technology Co Ltd, Agricultural and Mining Development SA, Grow More Inc, Humic Growth Solutions Inc, Humintech GmbH, and MYCSA Ag Inc. are some of the leading companies operating in the humic acid market in the region.
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. Asia Pacific Humic Acid Market Landscape
5. Asia Pacific Humic Acid Market - Key Industry Dynamics
6. Humic Acid Market - Asia Pacific Market Analysis
7. Asia Pacific Humic Acid Market Analysis - Form
8. Asia Pacific Humic Acid Market Analysis - Application
9. Asia Pacific Humic Acid Market - Country Analysis
10. Competitive Landscape
11. Industry Landscape
12. Company Profiles
List of Tables
List of Figures
Executive Summary
At 11.8% CAGR, the Asia Pacific Humic Acid Market is Speculated to be Worth US$ 780.42 million by 2030.According to this research,, the Asia Pacific humic acid market was valued at US$ 318.63 million in 2022 and is expected to reach US$ 780.42 million by 2030, registering a CAGR of 11.8% from 2022 to 2030. Increasing use of humic acid for agricultural yield improvement and expansion of humic acid applications are the critical factors attributed to the Asia Pacific humic acid market expansion.
Humic acid, a component of humus (organic matter in soil), has traditionally been recognized for its significant role in agriculture and soil fertility. However, its use has extended beyond agriculture, and it has found applications in various non-agricultural sectors. Humic acid has shown promising application in environmental remediation efforts. It is used to treat contaminated soil, groundwater, and surface water by enhancing removal of pollutants such as heavy metals, pesticides, and organic compounds. In addition, humic acid can be employed in water treatment processes to improve water quality. It aids in the removal of impurities, including heavy metals, organic pollutants, and suspended solids.
Humic acid can act as a coagulant or flocculant in water. It can facilitate bioremediation, which involves the use of microorganisms to degrade or transform pollutants. It acts as a natural chelator, enhancing the bioavailability of contaminants and promoting microbial activity for the degradation of various pollutants. Humic acid and its derivatives have demonstrated pharmaceutical applications. They have been studied for their antimicrobial properties and use as drug delivery systems, and for potential therapeutic effects in various medical conditions. Humic acid is also being explored for its use in cosmetics and personal care products due to its moisturizing, antioxidant, and anti-aging properties; it is used in formulations such as creams, lotions, and hair care products. Thus, the demand for humic acid is increasing due to its versatility, environmental benefits, and role in environmental remediation.
On the contrary, lack of standardization hurdles the growth of Asia Pacific humic acid market.
Based on form, the Asia Pacific humic acid market is segmented into dry and liquid. The dry segment held 65.9% share of Asia Pacific humic acid market in 2022, amassing US$ 210.05 million. It is projected to garner US$ 521.11 million by 2030 to expand at 12.0% CAGR during 2022-2030.
Based on application, the Asia Pacific humic acid market is segmented into agriculture, horticulture, ecological bioremediation, dietary supplements, and others. The agriculture segment held 59.5% share of Asia Pacific humic acid market in 2022, amassing US$ 189.48 million. It is projected to garner US$ 452.56 million by 2030 to expand at 11.5% CAGR during 2022-2030.
Based on country, the Asia Pacific humic acid market has been categorized into India, China, Japan, Australia, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 46.4% share of Asia Pacific humic acid market in 2022. It was assessed at US$ 147.75 million in 2022 and is likely to hit US$ 371.87 million by 2030, exhibiting a CAGR of 12.2% during 2022-2030.
Key players operating in the Asia Pacific humic acid market are Agbest Technology Co Ltd, Agricultural and Mining Development SA, Grow More Inc, Humic Growth Solutions Inc, Humintech GmbH, and MYCSA Ag Inc, among others.
Companies Mentioned
- Agbest Technology Co Ltd
- Agricultural and Mining Development SA
- Grow More Inc
- Humic Growth Solutions Inc
- Humintech GmbH
- MYCSA Ag Inc
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 78 |
| Published | December 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value in 2022 | 318.63 Million |
| Forecasted Market Value by 2030 | 780.42 Million |
| Compound Annual Growth Rate | 11.8% |
| Regions Covered | Asia Pacific |
| No. of Companies Mentioned | 6 |
