Humic Based Biostimulants Market Global Market Report 2024

Biostimulants, substances applied to plants for enhanced nutrition efficiency, increased tolerance to abiotic stress, and improved crop quality traits, find common use in horticulture, particularly in the form of humic-based biostimulants.

The primary types of humic-based biostimulants include fulvic acid, humic acid, and potassium humate. Humic acid comprises molecules that bind to plant roots, facilitating the absorption of water and nutrients. Fulvic acid, a byproduct of decomposition, results from geochemical and biological reactions, such as the breakdown of organic matter in a compost heap. Potassium humate, on the other hand, is the potassium salt of humic acid. These humic-based biostimulants are available in various forms such as liquid, water-soluble granules, and water-soluble powders. They find applications in agriculture, cereals, fiber crops, fruits & vegetables, oilseeds, and are utilized by farmers, related industries, and research institutes.

The humic-based biostimulants market research report is one of a series of new reports that provides humic-based biostimulants market statistics, including humic-based biostimulants industry global market size, regional shares, competitors with a humic-based biostimulants market share, detailed humic-based biostimulants market segments, market trends and opportunities, and any further data you may need to thrive in the humic-based biostimulants industry. This humic-based biostimulants market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The humic based biostimulants market size has grown rapidly in recent years. It will grow from $0.66 billion in 2023 to $0.75 billion in 2024 at a compound annual growth rate (CAGR) of 13.8%. The growth observed in the historical period can be ascribed to the growing consumer preference for organic produce, a rise in the global population, governmental subsidies and support, the expansion of the agriculture industry, and increased investment in research and development.

The humic based biostimulants market size is expected to see rapid growth in the next few years. It will grow to $1.26 billion in 2028 at a compound annual growth rate (CAGR) of 13.8%. The anticipated growth in the forecast period can be linked to the increasing demand for sustainable agriculture, a surge in food demand, heightened awareness regarding the significance of crop protection, and a rise in disposable income. Key trends expected in the forecast period encompass the development of customized formulations, the utilization of biostimulants for non-food crops, the exploration of biostimulant combinations, and an emphasis on collaboration and partnerships within the industry.

The market for humic-based biostimulants is experiencing growth driven by an increasing demand for sustainable farming solutions. The pressure to produce high-quality crop yields due to population growth has led to a surge in the adoption of humic-based biostimulants. According to a spokesperson from Agricen Sciences, a research company in applied sciences, the biostimulants market is rapidly expanding globally, including in the USA and Europe. The rise in organic farming practices has further contributed to the increased adoption of humic-based biostimulants worldwide. In May 2023, the Organic Trade Association reported that organic food sales in the United States exceeded $60 billion in 2022, reaching a milestone of $67.6 billion when considering both organic food and non-food products. Therefore, the combination of sustainable solutions and the growth of organic farming is expected to propel the humic-based biostimulants market during the forecast period.

The growth of the humic-based biostimulants market is also anticipated due to the increasing occurrence of crop diseases. Crop diseases, caused by various pathogens, can lead to reduced crop quality and yield, posing a significant challenge to agricultural productivity. Humic-based biostimulants play a crucial role in enhancing crop resistance to diseases by promoting stronger plant immune responses and healthier root systems. According to the Food and Agriculture Organization of the United Nations, up to 40% of global crop production is lost to pests, and the economic impact of plant diseases alone exceeds $220 billion annually. Consequently, the rising occurrence of crop diseases is a key driver for the humic-based biostimulants market.

Innovations in humic-based biostimulants, such as chelation with different minerals, are shaping the market. Companies worldwide are working on agricultural solutions that involve chelating additional minerals to enhance the nutraceutical properties of crops and plants. For example, HuminTech, a German-based producer of humic substances, has introduced a humic-based biostimulant with iron chelation, aiming to prevent and correct iron deficiency symptoms in plants while increasing their resistance to abiotic stress factors.

Major companies in the humic-based biostimulants market are strategically focusing on introducing products with advanced micronutrient technology to gain a competitive edge. Advanced micronutrient technology, utilizing humic-based biostimulants, effectively combats crop diseases and enhances agricultural yield and sustainability. In July 2023, Bionema Group Ltd., a UK-based manufacturer of natural biopesticides, biostimulants, and biofertilizers, launched a new range of biostimulant products in the UK. These products, utilizing advanced micronutrient technology, leverage Bionema's innovative Incapsulex™ technology platform for efficient transportation of microorganisms to plants and soil, enhancing plant growth.

In November 2022, J.M. Huber Corporation, a US-based chemical manufacturing company, acquired Biolchim S.p.A., an Italy-based manufacturer of humic-based biostimulants, for an undisclosed amount. This strategic acquisition positions Huber AgroSolutions as a leading developer of environmentally sustainable and high-performance agricultural products globally.

Major companies operating in the humic based biostimulants market 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.

North America was the largest region in the humic-based biosimulants market in 2023. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the humic-based biosimulants market share report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the humic-based biosimulants market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The humic-based biostimulants market consists of sales of natural and synthetic biostimulants. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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