LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global humic acid market is expected to grow at a CAGR of more than 12% during the forecast period.
This research report titled ‘Global Humic Acid Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The market for humic acid is likely to grow because of increased use of green fertilizers in agriculture, horticulture, home gardening and other applications. With the growth in various industries, the waste generated is increasing, which is disturbing the ecology. To decompose this generated waste humic acid is used as a stimulant, which activates microorganisms that biodegrade the waste. The growing awareness toward health issues is increasing the consumption of humic acid through pills, powder, and liquid forms.
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Technavio’s chemicals and materials research analysts categorize the global humic acid market into the following segments by application. They are:
- Agriculture
- Horticulture
- Dietary
- Ecological bioremediation
- Others
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The top three revenue-generating application segments of the global humic acid market are discussed below:
Agriculture
The global market for humic acid in agriculture applications holds the highest market share and is expected to continue dominating the market during the forecast period. The shift in agricultural techniques from synthetic fertilizers to organic fertilizers is due to the growing awareness of health issues and demand for organic food.
According to Kurva Samba Sivudu, a lead bio-chemicals and bio-materials research analyst from Technavio, “The growing population, decreasing crop productivity, and deteriorating soil quality are some of the factors for the increased need of agricultural techniques. The objective of the agriculture sector is to improve the quality of food and increase the yield of crops. To meet the needs of productivity and to increase the fertility of the soil, humic acid products are used. Humic acid increases the uptake of nutrients during plant growth.”
Horticulture
The challenge of increasing the food production without degrading the soil quality and natural compounds of the soil is met using bio-stimulants such as humic acid and fulvic acid. Humic acid that is used for horticulture is generally derived from coal and peat, but the growing concerns toward renewable resources are forcing vendors to extract it from organic matter.
“The use of humic acid in horticulture improves the primary and secondary metabolic rate of plants. It helps in increasing chemical properties and biological activities and is helpful for promoting the growth of roots. It strengthens the roots and increases the metabolic rate, distribution of water, uptake of nutrients, and oxygen supply. Humic acid also modulates the abiotic stress in plants and helps in promoting the growth and overall fitness of shoots, roots, and foliage,” adds Kurva.
Dietary
Owing to the decrease in the content of humic acid supplement in naturally occurring food items, the metabolism rate in humans has reduced. To speed up metabolic activities and strengthen the body, humic acid is consumed in the form of mineral supplements.
Humic acid helps to strengthen bones, absorb proteins, reduce stress hormones, and increase calcium production. It increases the permeability of cells and helps in mineral absorption to promote body growth. It also improves the functioning of the gut and increases the supply of oxygen to red blood cells. It helps in fast recovery from the injuries. Humic acid in dietary supplements is available in the form of pills, liquid, and powder.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Biolchim
- Humic Growth Solutions
- Humintech
- Jiloca Industrial
- Omnia Holdings
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