NEW YORK CITY, NY, UNITED STATES, October 12, 2021 /EINPresswire.com/ — The global humic-based biostimulants market is forecast to reach a market size of USD 1,037.5 Million by 2027, and register a significantly high CAGR over the next seven years, according to a new report by Reports and Data. Growing demand for humic-based biostimulants can be attributed to growing demand for high crop yield. Humic-based biostimulants find wide application in organic farming, greenhouse vegetable production, and horticulture. Humic-based biostimulants comprising humic and fulvic acid aid in stimulating plant growth, boosting plant height, increasing fresh/dry weight, and improving nutrient absorption. Humic-based biostimulants possess very high water-retentive capability, allowing easy accessibility of soil nutrients to plant roots for better yield.The COVID-19 impact
Humic-based biostimulants industry was largely spared from the impact of COVID-19 pandemic. Any influence of the pandemic on the industry was due to reduction in production caused by labor shortage and product supply due to supply chain disruption. As the condition eased, demand for humic-based biostimulants resumed.
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Market Dynamics:
The agricultural industry revenue has expanded significantly over the recent past. Factors such as rising demand for top quality food, rapid growth in the global population, increasing problems with water shortage and rising adoption of smart farming is boosting global market revenue growth. High adoption of organic fertilizers, increasing environmental awareness among farmers and consumers, adoption of modern techniques to enhance the crop yield and rising demand for top quality food are some key factors supporting market growth. Moreover, many market players are investing in research and development activities to develop and introduce eco-friendly products is expected to fuel growth of the global Humic-based Biostimulants market going ahead.
Further key findings in the report
• Humic acids aid in chemical-modification of soil fixation properties, offering benefits, including neutralization of alkaline and acidic soil to the soil pH-value, increasing plant cell-wall permeability to improve absorption of water and nutrients by plants, and increasing soil buffering characteristics.
• In greenhouses, granule humic-based biostimulants are dissolved in water and applied to plants to boost plant growth. In greenhouses, humic-based biostimulants are appropriate for all plant foods and improves composition of all soil types.
• By application, seed treatment segment revenue is expected to grow at the fastest rate during the forecast period. Seed treatment with humic-based biostimulants enables increased nutrition absorption, faster seed germination, better root development, and reduced susceptibility to diseases and pests.
• Humic-based biostimulants market in Europe contributed to largest revenue share in 2019, owing to supportive government regulations for organic food production in countries in the region. Also, increasing research and development in biostimulants for specific agricultural requirements is garnering significant traction.
• Key market players include Haifa Group, Bayer AG, Koppert Biological Systems, FMC Corporation, Humintech GmbH, Biolchim SpA, UPL Limited, PROMISOL, Sikko Industries Ltd., and Valagro SpA.
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For the purpose of this report, Reports and Data has segmented the global humic-based biostimulants market on the basis of type, formulation, application, and region:
Type Outlook (Revenue, USD Million; 2017-2027)
• Humic Acid
• Fulvic Acid
• Potassium Humate
Formulation Outlook (Revenue, USD Million; 2017-2027)
• Powder
• Granules
• Liquid
• Others
Application Outlook (Revenue, USD Million; 2017-2027)
• Foliar Treatment
• Seed Treatment
• Soil Treatment
Regional Outlook (Revenue, USD Million; 2017-2027)
• North America
• Europe
• Asia Pacific
• MEA
• Latin America
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Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Humic-based Biostimulants Market Segmentation & Impact Analysis
4.1. Humic-based Biostimulants Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers’ analysis
4.2.2.1. Growing demand for high crop yield
4.2.2.2. Decrease in arable lands
4.2.2.3. Growing population
4.2.2.4. Increasing demand for biostimulants in agriculture
Continued….
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