The global humic-based biostimulants market is forecast to reach a market size of USD 1,037.5 Million by 2027, and register a significantly high CAGR over the next seven years, according to a new report by Reports and Data. Growing demand for humic-based biostimulants can be attributed to growing demand for high crop yield. Humic-based biostimulants find wide application in organic farming, greenhouse vegetable production, and horticulture. Humic-based biostimulants comprising humic and fulvic acid aid in stimulating plant growth, boosting plant height, increasing fresh/dry weight, and improving nutrient absorption. Humic-based biostimulants possess very high water-retentive capability, allowing easy accessibility of soil nutrients to plant roots for better yield.
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The COVID-19 impact
Humic-based biostimulants industry was largely spared from the impact of COVID-19 pandemic. Any influence of the pandemic on the industry was due to reduction in production caused by labor shortage and product supply due to supply chain disruption. As the condition eased, demand for humic-based biostimulants resumed.
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Further key findings in the report
- Humic acids aid in chemical-modification of soil fixation properties, offering benefits, including neutralization of alkaline and acidic soil to the soil pH-value, increasing plant cell-wall permeability to improve absorption of water and nutrients by plants, and increasing soil buffering characteristics.
- In greenhouses, granule humic-based biostimulants are dissolved in water and applied to plants to boost plant growth. In greenhouses, humic-based biostimulants are appropriate for all plant foods and improves composition of all soil types.
- By application, seed treatment segment revenue is expected to grow at the fastest rate during the forecast period. Seed treatment with humic-based biostimulants enables increased nutrition absorption, faster seed germination, better root development, and reduced susceptibility to diseases and pests.
Key market players include:
FMC Corporation, Humintech GmbH, Biolchim SpA, UPL Limited, PROMISOL, Sikko Industries Ltd., and Valagro SpA.
For the purpose of this report, Reports and Data has segmented the global humic-based biostimulants market on the basis of type, formulation, application, and region:
Type Outlook (Revenue, USD Million; 2017-2027)
- Humic Acid
- Fulvic Acid
- Potassium Humate
Formulation Outlook (Revenue, USD Million; 2017-2027)
Application Outlook (Revenue, USD Million; 2017-2027)
- Foliar Treatment
- Seed Treatment
- Soil Treatment
Regional Outlook (Revenue, USD Million; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Saudi Arabia
- Rest of MEA
- Latin America
- Rest of LATAM
Key Highlights in the Report:
- It provides useful information about the global Humic-based biostimulants industry, including market forecasts and sales growth rates.
- Provides a detailed overview of market growth and patterns for the years 2021-2028, including key market parameters.
- Comprehensive industry analysis, including key statistical data and market knowledge gleaned from primary and secondary research
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