Due to the use of ecologically friendly fertilisers and other chemicals for sustainable farming, it is projected that humic acid demand would rise in the upcoming years. Humic acid's market is expected to expand globally as a result of the stringent laws and regulations imposed by the U.S. EPA (Environmental Protection Agency) and other legal regulating bodies that forbid the use of chemical-based fertilisers. In order to reduce carbon footprints and protect soil and groundwater from contamination, ecological soil remediation is becoming increasingly important, which is fueling the need for humic acid. Also, it is projected that humic acid's enhanced ion exchange and absorption properties will support demand during the projection period. The use of humic acids is spreading throughout the agricultural industries as a result of a shift in farming practises towards sustainable ones. Thus, humic acid is produced by market participants utilising modern chemicals with a variety of properties, depending on the application for which it is to be used.The requirement to increase yield per acre in order to meet the growing demand for food is anticipated to promote this market's expansion.
According to Coherent Market Insights, the global Humic Acid Market was worth US$ 950.00 million in 2021, with a CAGR of 6.67% over the forecast period (2022 to 2030).
Leading Companies in the Humic Acid Industry:
1. Humic Growth Solutions, Inc.
The company was established in 2008 and has its head office in Jacksonville, Florida, United States. Producing and distributing organic bio-stimulant goods is the business of Humic Growth Solutions. The world's top maker of extracted humate products is Humic Growth Solutions (Humic, Fulvic, Humin, Humus, Leonardite).
2. Italpoliina S.p.A.
The company was established in 1983 and has its Headquarters in Verona, Italy. One of the company's business activities is the manufacturing and manufacture of chemicals used in agriculture. Italpollina creates biostimulants, beneficial microbials, and organic fertilisers that are safe for the environment and human health.
3. LaboratoiresGoemar SAS,
The company was established in 1972 and has its Headquarters in Saint Malo, France. Laboratoires Goemar creates, produces, and distributes biologicals based on seaweed for the agricultural sector. The product line includes liquid nitrogen blend, growth activator, and fungicide supplement. For the economic and environmental sectors, the company specialises in the research, production, and marketing of bioperformance technologies.
4. Koppert B.V.
The company was founded in 1967 and is based in South Holland, Netherlands. Biological products are created by Koppert BV for the management of pests and diseases, pollination, plant monitoring, and other accessories. They also develop and commercialise crop protection and pollination systems. A cooperation between Koppert Biological Systems and Air France KLM Martinair Cargo was established in April 2021 as part of the airline's quest for sustainable aviation fuel.
5. Sikko Industries,
The firm was founded in 1997 and has its main office in Ahmedabad. Manufacturing, trading, and exporting of bio-agrochemicals, pesticides, fertilisers, seeds, sprayers, packaging, machinery, and fast-moving consumer goods (FMCG) products are the company's main commercial activities.
6. Black Earth Humic
The business was established in 1998 and is based in Calgary, Canada. Black Earth Humic creates humic material reserves for the horticulture, drilling, and agriculture industries. Humalite, a weathered variety of sub-bituminous coal, serves as the base material for all goods made by Black Earth.
7. Humintech
The business was established in 1974 and has its headquarters in Grevenbroich, Germany. A biotech business called Humintech is largely dedicated to the study, creation, and commercial manufacturing of humic matter and humic acids for the agricultural industry.
8. WinField Solutions
The company was founded in 1998 and has its headquarters in Saint Paul, Minnesota, United States. The business also offers services for planting, nurturing, and safeguarding crops in addition to producing and distributing seeds and crop protection products.
*Definition: Humic acid is a chemical that is produced through the biodegradation of organic materials like peat, coal, and soil/humus. It is a complex blend of different acids from phenolate and carboxyl groups that can be widely employed to supply the necessary nutrition to both humans and plants.
