New York, United States, June 27, 2023 (GLOBE NEWSWIRE) -- The Global Humic Based Biostimulants Market Size is To Grow from USD 679 Million in 2022 to USD 1,984 Million by 2032, at a Compound Annual Growth Rate (CAGR) of 11.3% during the projected period. The global humic based biostimulants Market Size is experiencing robust growth due to the increasing demand for sustainable agriculture practices, rising awareness about the benefits of organic inputs, and the need for improved crop productivity.
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Humic substances, which are derived from natural organic matter such as peat, lignite, and leonardite, are high in humic and fulvic acids, which have been shown to improve plant growth, nutrient uptake, and soil health. The global market for humic-based biostimulants is a rapidly expanding sector of the agriculture and horticulture industries. Humic-based biostimulants are products that contain these humic substances and are used to improve plant growth, nutrient absorption, stress tolerance, and soil fertility. They are commonly used in foliar spraying, seed treatment, and soil application. Many governments around the world have implemented policies and regulations in place to promote sustainable agricultural practices and reduce the use of synthetic chemicals. This includes promoting the use of biostimulants and offering incentives or subsidies to encourage their use. Government and regulatory support are driving the demand for humic-based biostimulants. However, the costs of producing, extracting, formulating, and distributing these biostimulants can make them less accessible to farmers, particularly those in developing countries with limited financial resources.
Browse key industry insights spread across 200 pages with 100 Market data tables and figures & charts from the report on, "Global Humic Based Biostimulants Market Size, Share, and COVID-19 Impact Analysis, By Type (Humic Acid, Fulvic Acid, Potassium Humate), By Application (Seed Treatment, Soil Treatment, Foliar Spray), By Form (Dry, Liquid), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Description Here:
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The humic acid-based biostimulants segment is expected to hold the largest share of the global humic based biostimulants market during the forecast period.
The global market for humic-based biostimulants is divided into three types: humic acid, fulvic acid, and potassium humate. Among these, the humic acid-based biostimulants segment is projected to account for the majority share of the global humic acid-based biostimulants market over the forecast period. Its extensive list of advantages, versatility, and effectiveness in improving soil health and plant growth makes it the preferred choice among farmers and fuels its market dominance.
The soil treatment segment is expected to grow at the fastest pace in the global humic based biostimulants market during the forecast period.
The global humic-based biostimulants market is segmented into seed treatment, soil treatment, and foliar spray. Soil treatment is projected to expand at the fastest rate in the global humic based biostimulants market over the forecast period. The reason for this growth is that soil treatment provides comprehensive benefits for soil health, nutrient availability, and overall plant growth, making it a preferred and widely adopted method of application in various agricultural systems.
The liquid segment is expected to grow at the highest pace in the global humic based biostimulants market during the forecast period.
The global humic-based biostimulants market is classified into two types: dry and liquid. The liquid segment in the global humic based biostimulants market is projected to expand at the fastest rate during the forecast period. The liquid segment is expected to dominate because of its ease of use, versatility, and superior absorption and utilization by plants.
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North America is estimated to hold the largest share of the global humic based biostimulants market over the predicted timeframe.
The growing demand for sustainable agriculture and organic farming practices is driving the North American market. The presence of a well-established agricultural industry, advanced farming technologies, and supportive regulatory frameworks all contribute to the growth of the North American market for humic-based biostimulants.
Asia Pacific is expected to grow at the fastest pace in the global humic based biostimulants market during the forecast period.
The diverse agricultural landscape of the region, varying climatic conditions, and government initiatives to promote sustainable agriculture are expected to contribute to market growth. The Asia Pacific region is experiencing the fastest growth in the market for humic-based biostimulants, owing to factors such as a large population, expanding agricultural sector, and increased awareness of sustainable farming practices.
The humic-based biostimulants market in Latin America has grown significantly, particularly in countries such as Brazil, Argentina, and Mexico. The region's vast agricultural land, favorable climatic conditions, and a strong emphasis on agricultural exports propel biostimulant demand.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Humic Based Biostimulants Market include Koppert, Rovensa, OMEX, Italpollina S.p.A., Valagro SpA, Biolchim S.p.A, FMC Corporation, Haifa Group, UPL Ltd., Bayer AG, SIKKO industries ltd, ADAMA Ltd, NOVIHUM Technologies GmbH, HUMINTECH GMBH, BORREGAARD, and Others.
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Recent Developments
In May 2022, UPL Ltd. and Koppert collaborated to promote sustainable agriculture in Spain and Portugal. The two companies begin a technical and commercial collaboration to facilitate producers' access to biological solutions.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Humic Based Biostimulants Market based on the below-mentioned segments:
Global Humic Based Biostimulants Market, By Type
- Humic Acid
- Fulvic Acid
- Potassium Humate
Global Humic Based Biostimulants Market, By Application
- Seed Treatment
- Soil Treatment
- Foliar Spray
Global Humic Based Biostimulants Market, By Form
- Dry
- Liquid
Global Humic Based Biostimulants Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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