Market Challenges And Opportunities

Market Drivers

Increasing adoption of sustainable agriculture across the globe

The adoption of eco-friendly fertilizers and chemicals for sustainable farming is expected to boost the demand for humic acid in the coming years. Furthermore, stringent rules and regulations imposed by statutory governing organizations such as the U.S. Environmental Protection Agency (EPA) against the usage of chemical-based fertilizers are further estimated to fuel the humic acid market growth worldwide.

Moreover, the increasing need for ecological remediation of soil to reduce the carbon footprint and protect the soil and groundwater from contamination are boosting the demand for humic acid. Furthermore, the properties of humic acid such as higher ion exchange and absorption capacity are expected to propel the demand for humic acid over the forecast period.

Market Restraints

Lack of awareness of uses of humic acid

Limited awareness about the health benefits associated with humic acid in emerging economies, such as a majority of African countries, is expected to hamper the market growth over the forecast period. Moreover, lack of consistency in crop yield quality over the application of humic acid is further expected to hinder the market growth to some extent.