The global humic acid water soluble fertilizers market was valued at USD 8,302.1 Million in 2019 and is projected to reach USD 10,183.4 Million by 2027, expanding at a CAGR of 3.5% during the forecast period. Humic acid is an organic molecule having major role in soil fertility and plant nutrition. The growth of the global humic acid water soluble fertilizers market is driven by increase in demand for organic fertilizers in agricultural activities over synthetic variety. They improve the structure & water storage capacity of soils and boost the drought & disease resistance quality of plants. In addition, they enhance the yield of crops, increase production of vegetables & fruits, facilitate growth of superior & deep-rooted turf, improve fertilizer uptake of plant, and support ecological balance. Scientific studies show that the fertility of soil is determined to a very large extent by the content of humic acids. Their high cation-exchange capacity (CEC), the oxygen content as well as the above average water holding capacity are the reasons for the high value of using humic acids for improving soil fertility and plant growth. The most important feature of humic acids lies in their ability to bind insoluble metal ions, oxides and hydroxides, and to release them slowly and continually to plants when required. Due to these properties, humic acids are known to produce three types of effects: physical, chemical and biological.
The market is driven by factors such as improving the structure of soil, prevent high water and nutrient losses in light, sandy soils. Simultaneously convert them into fruitful soils by way of decomposition which are considered as the major reason for high usage of humic acid water soluble fertilizers across the world.
Based on types, the liquid fertilizers market was the largest product segment in the global humic acid water soluble fertilizers market in 2019. The segment contributed over almost half of the global market value in the same year. Easier to handle when blending and applying, provides uniform application, can be used for both starter and in-season application are the primary causes of high market share into the global market. In 2019, the global humic acid water soluble fertilizers market was valued at USD 8,302.1 million and is expected to reach USD 10,183.4 million by 2027, expanding with a CAGR of 3.5% through the forecast period 2020 – 2027.
In terms of regions, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia-Pacific is a promising region for the market. It constituted a 43.6% share of the market in 2019. The market in the region is projected to expand at a CAGR of 3.5% during the forecast period. Asia Pacific is expected to register highest demand growth owing to industrial practices being adopted in agriculture to improve crop yield. High agricultural growth in China and India are expected to be major drivers for Asia Pacific industry’s growth. North America holds the second largest value share in the global market.
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According to this Growth Market Reports report, the market from Humic Acid Water Soluble Fertilizers is likely to register a CAGR of 3.5% during forecast period 2020-2027, with an anticipated valuation of USD 10,183.4 million by the end of the 2027.
In addition to market size (in USD Million) & Volume (Tons) Company Market Share (in % for base year 2019), other data such Macro-economic factors, COVID-19 Impact on the value chain is available in final report.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
An improving the structure of soil, prevent high water and nutrient losses in light, sandy soils are considered as the primary reason for market growth.
The market is expected to witness a decrease of over 2-3% between 2019 and 2020 owing to the adverse impact of COVID-19 pandemic on the Humic Acid Water Soluble Fertilizers market.
The base year considered for the global Humic Acid Water Soluble Fertilizers market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2020 to 2027.
Agro-chemcial industries, agriculture farmers, Farm owners, Fruit & Vegetable Producers are the key end-user that are driving the Humic Acid Water Soluble Fertilizers market.
Major Manufactures include, Haifa Chemicals, Yara, Omex, The Andersons, Arab Potash Company, HUMINTECH GmbH etc.