The Middle East & Africa humic acid market is expected to grow from US$ 45.99 million in 2022 to US$ 95.84 million by 2030. It is estimated to grow at a CAGR of 9.6% from 2022 to 2030.
The rise in demand for sustainable agriculture is driving farmers in the Middle East & Africa to adopt a cost-effective integrated nutrient management system. This, in turn, increases the demand for biofertilizers in the region. This region comprises small and marginal farmers in large shares. Therefore, increasing demand for low-cost fertilizers such as biofertilizers propels the humic acid market in the region.
Based on form, the Middle East & Africa humic acid market is segmented into dry and liquid. The dry segment held a larger Middle East & Africa humic acid market share in 2022.
Based on application, the Middle East & Africa humic acid market is segmented into agriculture, horticulture, ecological bioremediation, dietary supplements, and others. The agriculture segment held the largest Middle East & Africa humic acid market share in 2022.
Based on country, the Middle East & Africa humic acid market has been categorized into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. South Africa dominated the Middle East & Africa humic acid market in 2022.
Agricultural and Mining Development SA, Grow More Inc, Humic Growth Solutions Inc, and Humintech GmbH are some of the leading companies operating in the humic acid market in the region.
Growing Demand for Organic Food Products Fuels Middle East & Africa Humic Acid Market
Organic farming practices emphasize soil health and fertility. As a natural soil amendment, humic acid enhances soil structure, improves nutrient availability, and promotes microbial activity. It helps organic farmers maintain and improve soil fertility. Organic food production requires compliance with specific standards and regulations. Organic certifying bodies often require the use of approved inputs and practices, including organic soil amendments. Humic acid, derived from organic sources, fulfills the requirements for organic certification. In addition, humic acid has been shown to improve plant growth by facilitating root development and improving stress tolerance. Organic food producers prioritize plant health and natural disease resistance by minimizing synthetic pesticides and fertilizers. The use of humic acid in organic farming contributes to the production of food that is perceived as healthier and more environmentally friendly. Thus, the growing demand for organic food products would lead to new trends in the humic acid market in the coming years, as it is being projected as an essential component of organic farming practices.Middle East & Africa Humic Acid Market Overview
The Middle East & Africa humic acid market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Increasing awareness about the harmful effects of inorganic chemical compounds, artificial compounds, and synthetic fertilizers in the region bolsters the demand for organic compounds such as humic acid. Humic acid is increasingly used as a bio-stimulant to decompose the organic residues in soil. It increases the metabolic activity of soil organisms and speeds up the decomposition process. These factors fuel the demand for humic acid.The rise in demand for sustainable agriculture is driving farmers in the Middle East & Africa to adopt a cost-effective integrated nutrient management system. This, in turn, increases the demand for biofertilizers in the region. This region comprises small and marginal farmers in large shares. Therefore, increasing demand for low-cost fertilizers such as biofertilizers propels the humic acid market in the region.
Middle East & Africa Humic Acid Market Revenue and Forecast to 2030 (US$ Million)
Middle East & Africa Humic Acid Market Segmentation
The Middle East & Africa humic acid market is segmented into form, application, and country.Based on form, the Middle East & Africa humic acid market is segmented into dry and liquid. The dry segment held a larger Middle East & Africa humic acid market share in 2022.
Based on application, the Middle East & Africa humic acid market is segmented into agriculture, horticulture, ecological bioremediation, dietary supplements, and others. The agriculture segment held the largest Middle East & Africa humic acid market share in 2022.
Based on country, the Middle East & Africa humic acid market has been categorized into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. South Africa dominated the Middle East & Africa humic acid market in 2022.
Agricultural and Mining Development SA, Grow More Inc, Humic Growth Solutions Inc, and Humintech GmbH 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. Middle East & Africa Humic Acid Market Landscape
5. Middle East & Africa Humic Acid Market - Key Industry Dynamics
6. Humic Acid Market - Middle East & Africa Market Analysis
7. Middle East & Africa Humic Acid Market Analysis - Form
8. Middle East & Africa Humic Acid Market Analysis - Application
9. Middle East & Africa Humic Acid Market - Country Analysis
10. Competitive Landscape
11. Industry Landscape
12. Company Profiles
List of Tables
List of Figures
Executive Summary
At 9.6% CAGR, the Middle East & Africa Humic Acid Market is Speculated to be Worth US$ 95.84 million by 2030.According to this research, the Middle East & Africa humic acid market was valued at US$ 45.99 million in 2022 and is expected to reach US$ 95.84 million by 2030, registering a CAGR of 9.6% 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 Middle East & Africa humic acid market expansion.
Humic acid is a natural compound derived from organic matter such as decomposed plant material. It is known for its beneficial effects on soil fertility and plant growth. Upon application to the soil, humic acid enhances its physical, chemical, and biological properties. It improves soil structure, increases water-holding capacity, enhances nutrient retention, and promotes the growth of beneficial microorganisms, which leads to improvements in soil conditions through better nutrient availability and uptake, resulting in improved crop yields. As a result, the demand for humic acid-based fertilizers, soil amendments, and biostimulants, among others, has been increasing. In addition, humic acid has been found to stimulate root and shoot growth, leading to increased biomass production. It promotes the development of lateral roots, improves nutrient uptake efficiency, and enhances plant metabolism, in turn, resulting in plant growth with the potential to produce high yields and better-quality food products. These stats have been alarming the agricultural sector about the subsequently increasing food demand. As a result, agriculturists across the world are focusing on modifying farming practices to obtain high yields from smaller cultivation areas. Thus, the need for fertilizers in farming, including humic acid-based ones, increases with a major focus on crop protection and yield enhancement in the agricultural sector.
On the contrary, lack of standardization hurdles the growth of Middle East & Africa humic acid market.
Based on form, the Middle East & Africa humic acid market is segmented into dry and liquid. The dry segment held 76.7% share of Middle East & Africa humic acid market in 2022, amassing US$ 35.26 million. It is projected to garner US$ 74.24 million by 2030 to expand at 9.8% CAGR during 2022-2030.
Based on application, the Middle East & Africa humic acid market is segmented into agriculture, horticulture, ecological bioremediation, dietary supplements, and others. The agriculture segment held 56.4% share of Middle East & Africa humic acid market in 2022, amassing US$ 25.95 million. It is projected to garner US$ 53.22 million by 2030 to expand at 9.4% CAGR during 2022-2030.
Based on country, the Middle East & Africa humic acid market has been categorized into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that South Africa captured 39.3% share of Middle East & Africa humic acid market in 2022. It was assessed at US$ 18.08 million in 2022 and is likely to hit US$ 39.32 million by 2030, exhibiting a CAGR of 10.2% during 2022-2030.
Key players operating in the Middle East & Africa humic acid market are Agricultural and Mining Development SA, Grow More Inc, Humic Growth Solutions Inc, and Humintech GmbH, among others.
Companies Mentioned
- Agricultural and Mining Development SA
- Grow More Inc
- Humic Growth Solutions Inc
- Humintech GmbH
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 66 |
| Published | December 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value in 2022 | 45.99 Million |
| Forecasted Market Value by 2030 | 95.84 Million |
| Compound Annual Growth Rate | 9.6% |
| Regions Covered | Africa, Middle East |
| No. of Companies Mentioned | 4 |
