Humic Acid Market
Humic acid is a mixture of organic compounds obtained by the microbiological and chemical process of debris formation of living organisms into refractory organic compounds. Humic substances mainly account for 50-80% of organic carbon from the soil, bottom sediments & water, and are mainly produced on large scale from natural deposits such as coal and peat. The properties of humic acid include higher absorption capacity, environmental compatibility, and ion-exchange capacity, making humic acid a well-suited and attractive material for ecological remediation.
Market Dynamics
There has been a shifting inclination of individuals over usage of natural or organic pesticides in farming. As humic acid is naturally formed by biochemical and molecular mechanisms of waste materials and is non-toxic, its usage in organic farming and horticulture is gaining traction worldwide. Moreover, humic acid contains essential phytochemicals, such as fatty acids and hormones, and thus assists in cancer treatment. Humic acid assists in maintaining the electrochemical balance of vital body cells and its humic-fulvic acid assists in improving brain function among individuals. Thus, humic acid is also being adopted in the production of pharmaceutical drugs.
Though, an increasing number of substitutes to humic acid, such as other carbonates, owing to the difference in the pH levels is expected to hinder demand for humic acids to some extent. Moreover, the chance of fumigates production, while reacting with chlorine in the water is further expected to obstruct the market growth for humic acid in the upcoming years.
The major players operating in the humic acid market are focusing on product development strategies to widen their global reach. For instance, in September 2020, PureAcre, a U.S.-based agricultural innovation company, developed advanced nutritional management products that include both seaweed extracts and humic acid extracts. These products are expected to produce more yield in limited areas of agricultural land, and thus are gaining traction worldwide.
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* Browse 45 market data tables* and 30 figures* on "Global Humic Acid Market” – Global forecast to 2030
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