DUBLIN, January 26, 2023 /PRNewswire/ — The report “Global Humic-Based Biostimulants Market by Type, Application, Form, Crop Type and Region – Forecast to 2027” has been added to from ResearchAndMarkets.com offer.
The global humic biostimulants market is estimated at $686 million in 2022; it is expected to grow at a CAGR of 11.5% to reach $1,184 million by 2027. Humic and fulvic acids are the most widely used humic substances in organic crop production and horticultural agricultural practices.
Asia Pacific is expected to witness the highest growth during the forecast period
The market for humic biostimulants in the Asia Pacific The region is expected to grow at the highest CAGR over the projected period. The need to increase food production to feed the growing population using modern agricultural practices and the weak regulatory system, especially in India and other Southeast Asian countries, is estimated to drive the humic-based biostimulants market in the Asia Pacific Region. Other drivers for this market include the surge in the development of natural extracts as active ingredients for biostimulants and increasing investments from major players in Asia Pacific countries.
Humic acid is rapidly gaining popularity in the humic-based biostimulant market across the world
Humic acid is formed due to the humification of plant and animal matter, as well as the biological activities of microorganisms. It is naturally available in the soil and helps plants absorb nutrients from the soil, improving crop productivity and health. Outside the soil, humic acids are present in oceans and fresh waters, but in limited amounts. Humic acids are extracted from leonardite for commercial applications, and other sources such as animal manure, organic waste, and sewage sludge also contain humic acid.
Humic acid is generally applied to make nutrients and micronutrients readily available to plants and also helps to increase the plant’s resistance to stress. Humic acids from different sources work differently. It depends on the age of the source, the oxygen supplied, the time, the pressure and the heat applied during the formation and the contamination of the source. It is considered a biocatalyst for plants and a conditioner for the soil. Humic acid plays a key role in germination, microbial activity, chlorophyll synthesis, root vitality and fertilizer retention and helps generate increased yields.
Growing demand for organic food
According to the FAO, in 2021, organic farming was practiced in 187 countries and 72.3 million hectares of agricultural land were managed organically. Global sales of organic food and beverages reached more than $103.68 billion in 2019. In India, there is a paradigm shift following the COVID-19 pandemic as consumers have started buying more organic foods as a preventative health measure. Fresh fruits from organic farming are at the top of the international trade. Production and sales of organic food originate from developed countries, but even developing countries have started to produce and export organic food and products.
According to APEDA, India is the leading exporter of organic tea, coffee, spices and condiments. India also exports organic fruits and vegetables. The rich nutritional value of organic fruits and vegetables is the main reason for their demand in domestic and global markets. Organic foods contain more antioxidants than conventionally grown varieties.
To produce organic food products, different methods are adopted selection of pest resistant varieties, appropriate rotations, green manures, balanced fertilization, use of humic-based biostimulants, early planting, mulching, cultural, mechanical and biological control measures, Disrupting pest life cycles and ensuring the survival of pest enemies is the basis of pest control programs, which is used in organic agriculture.
- Increase in demand to combat pesticide toxicity
- High development costs for new synthetic crop protection products
- Increase in demand for high value organically produced crops with export value from developed economies
- Marketing of poor quality biostimulant products by local actors
- Low trade barriers in emerging economies allow new entrants to invest in regional markets
- Technological advances in the production of biostimulants
- Uncertainty in the regulatory framework for biostimulants
- Internal threat of substitution of algae-based biostimulants
Main topics covered:
2 Research methodology
3 Executive Summary
4 premium previews
5 Market Overview
6 industry trends
7 Humic-Based Biostimulants Market, by Type
7.2 Humic acid
7.3 Fulvic acid
7.4 Potassium humate
8 Humic-Based Biostimulants Market, By Formulation
9 Humic-Based Biostimulants Market, By Mode of Application
9.2 Seed treatment
9.3 Soil treatment
9.4 Foliar spray
9.5 Other modes of application
10 Humic-Based Biostimulants Market, By Crop Type
10.2 Cereals and grains
10.3 Oilseeds and pulses
10.4 Fruits & Vegetables
11 Humic-Based Biostimulants Market, by Region
12 Competitive Landscape
13 company profiles
14 adjacent and related markets
- Axeb Biotech SL
- Bayer AG
- Biolchim SpA
- Organic line
- CMF Company
- Haifa Group
- Humic Growth Solutions
- HUMINTECH GmbH
- land of love
- NOVIHUM Technologies GmbH
- Qingdao Future Group
- SIKKO Industries Ltd.
- tag row
- Valagro SpA
For more information about this report visit https://www.researchandmarkets.com/r/htk06e-humic?w=5
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