The humic acid market size was valued at US$ 1.14 billion in 2022 and is projected to reach US$ 2.64 billion by 2030; it is expected to register a CAGR of 11.0% from 2022 to 2030.
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. 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.
Based on application, the humic acid market is segmented into agriculture, horticulture, ecological bioremediation, dietary supplements, and others. Other applications of humic acid include those in the animal feed, pulp & paper, wastewater treatment, cement concrete, and battery industries, among others. In the animal feed industry, humic acid is majorly used as a feed additive, particularly as an alternative to antibiotics, which are used to improve poultry performance and health. Humic acid is used to modify water-proofing agents and barrier coatings used in paper products. It can be used as a liquefier in concrete to improve its properties. In the battery industry, humic acid is used as expanders in lead accumulators. As surface active materials, they influence the size and morphology of lead and lead sulfate during the charging and discharging cycles. Moreover, it increases the charge potential and discharging capacity of the lead accumulator and facilitates reduction in self-discharge of the battery and thus prolongs its life. Thus, various applications of humic acid in different end-use industries drives the humic acid market growth.
Geographically, the humic acid market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. In 2022, Europe held the largest share of the humic acid market, and Asia Pacific is estimated to register the highest CAGR over the forecast period. the European government has established some standard agricultural policies to support organic farming and the utilization of biofertilizers. The European Union continues to promote biofertilizers as a cost-effective alternative to chemical fertilizers, advising farmers to optimize the application of chemical fertilizers or replace them entirely or partially with environmentally friendly alternatives for a better economic return. Thus, due to changing market trends, farmers are increasingly adopting organic fertilizers to enhance crop productivity. Humic acid is mostly used in organic fertilizers. Therefore, the rising adoption of organic fertilizers fuels the humic acid market growth in Europe.
AGBEST TECHNOLOGY CO LTD, Agriculture Solutions Inc, Black Earth Products Inc, AGRICULTURAL AND MINING DEVELOPMENT SA, Faust Bio-Agricultural Services Inc, Humic Growth Solutions Inc, Humintech GmbH, The Andersons Inc, MYCSA Ag Inc, and Grow More Inc. are among the key players operating in the humic acid market. These companies are adopting merger & acquisition, partnership, collaboration, and joint venture strategies to expand their consumer reach and improve product expertise. For instance, Paine Schwartz Partners announced that it had completed a strategic investment through Paine Schwartz Food Chain Fund VI ("Fund VI") in Humic Growth Solutions Inc. Paine Schwartz's Partner's investment in Humic Growth Solutions Inc builds on the firm's longstanding track record of investing in the upstream segments of Crop Productivity & Sustainability, including its investments in AgBiTech and SNFL. Such strategies are expected to boost the humic acid market growth in the coming years.
The overall humic acid market size has been derived using primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs; business development managers; market intelligence managers; national sales managers; and external consultants, including valuation experts, research analysts, and key opinion leaders, specializing in the 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. 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.
Based on application, the humic acid market is segmented into agriculture, horticulture, ecological bioremediation, dietary supplements, and others. Other applications of humic acid include those in the animal feed, pulp & paper, wastewater treatment, cement concrete, and battery industries, among others. In the animal feed industry, humic acid is majorly used as a feed additive, particularly as an alternative to antibiotics, which are used to improve poultry performance and health. Humic acid is used to modify water-proofing agents and barrier coatings used in paper products. It can be used as a liquefier in concrete to improve its properties. In the battery industry, humic acid is used as expanders in lead accumulators. As surface active materials, they influence the size and morphology of lead and lead sulfate during the charging and discharging cycles. Moreover, it increases the charge potential and discharging capacity of the lead accumulator and facilitates reduction in self-discharge of the battery and thus prolongs its life. Thus, various applications of humic acid in different end-use industries drives the humic acid market growth.
Geographically, the humic acid market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. In 2022, Europe held the largest share of the humic acid market, and Asia Pacific is estimated to register the highest CAGR over the forecast period. the European government has established some standard agricultural policies to support organic farming and the utilization of biofertilizers. The European Union continues to promote biofertilizers as a cost-effective alternative to chemical fertilizers, advising farmers to optimize the application of chemical fertilizers or replace them entirely or partially with environmentally friendly alternatives for a better economic return. Thus, due to changing market trends, farmers are increasingly adopting organic fertilizers to enhance crop productivity. Humic acid is mostly used in organic fertilizers. Therefore, the rising adoption of organic fertilizers fuels the humic acid market growth in Europe.
AGBEST TECHNOLOGY CO LTD, Agriculture Solutions Inc, Black Earth Products Inc, AGRICULTURAL AND MINING DEVELOPMENT SA, Faust Bio-Agricultural Services Inc, Humic Growth Solutions Inc, Humintech GmbH, The Andersons Inc, MYCSA Ag Inc, and Grow More Inc. are among the key players operating in the humic acid market. These companies are adopting merger & acquisition, partnership, collaboration, and joint venture strategies to expand their consumer reach and improve product expertise. For instance, Paine Schwartz Partners announced that it had completed a strategic investment through Paine Schwartz Food Chain Fund VI ("Fund VI") in Humic Growth Solutions Inc. Paine Schwartz's Partner's investment in Humic Growth Solutions Inc builds on the firm's longstanding track record of investing in the upstream segments of Crop Productivity & Sustainability, including its investments in AgBiTech and SNFL. Such strategies are expected to boost the humic acid market growth in the coming years.
The overall humic acid market size has been derived using primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs; business development managers; market intelligence managers; national sales managers; and external consultants, including valuation experts, research analysts, and key opinion leaders, specializing in the humic acid market.
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. Humic Acid Market Landscape
5. Humic Acid Market - Key Industry Dynamics
6. Humic Acid Market - Global Market Analysis
7. Humic Acid Market Analysis - Form
8. Humic Acid Market Analysis - Application
9. Humic Acid Market - Geographical Analysis
10. Humic Acid Market - Impact of COVID-19 Pandemic
11. Competitive Landscape
12. Industry Landscape
13. Company Profiles
List of Tables
List of Figures
Companies Mentioned
- AGBEST TECHNOLOGY CO LTD
- Agriculture Solutions Inc
- Black Earth Products Inc
- AGRICULTURAL AND MINING DEVELOPMENT SA
- Faust Bio-Agricultural Services Inc
- Humic Growth Solutions Inc
- Humintech GmbH
- The Andersons Inc
- MYCSA Ag In
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 161 |
| Published | August 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 1.14 billion |
| Forecasted Market Value ( USD | $ 2.64 billion |
| Compound Annual Growth Rate | 11.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
