New York, Jan. 28, 2021 (GLOBE NEWSWIRE) — 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 revenue growth rate over the next seven years, according to a new report by Reports and Data. Growing demand for humic-based biostimulants can be attributed to increasing demand for biostimulants in the field of agriculture. Biostimulants are used to increase crop production and yield by promoting plant health, growth, and productivity. Biostimulants enable plants to endure abiotic stresses, such as cold, heat, and drought. In small concentrations, biostimulants support proper functioning of vital plant processes, thus allowing improved crop quality and yield. Biostimulants such as humic acids indirectly affect plants by conditioning soil and promoting soil porosity, aggregation, and water retention, thereby improving soil microbial activity.
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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 has been returning to earlier volumes.
Further key findings in the report
- Fulvic acid promotes cell division and elongation, and improves root growth, thus resulting in more nutrient uptake. Also, fulvic acid is considered beneficial in detoxifying soil pollutants and acts as a catalyst to quicken toxin breakdown.
- Growing global population and rising food demand is a major driver for growth of the humic-based biostimulants market. According to statistics released by the United Nations, the global population is expected to cross 9 Billion by 2050, from 7.7 Billion currently.
- By formulation, liquid segment revenue is expected to grow at the fastest rate over the forecast period. Liquid humic-based biostimulants allow enhanced soil penetration, thereby causing rapid nutrient absorption.
- By application, soil treatment segment contributed to the largest revenue share in 2019. Humic-based biostimulants help in regulating soil pH-value, increase nutrition absorption, and improve water-retention capacity.
- Humic-acid biostimulants market revenue in Asia Pacific is expected to grow at the fastest rate over the forecast period, owing to a large population base, rise disposable income in developing countries, and changing dietary habits.
- 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 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
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- Regional Outlook (Revenue, USD Million; 2017-2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
- Latin America
- Brazil
- Rest of LATAM
- North America
Take a Look at our Related Reports:
Agricultural Biostimulants Market Analysis By Type (Acid-based, Extract-based, Others), By Application (Soil, Foliar, Seed and Others) And Segment Forecasts, 2017-2026
Potash Fertilizers Market Share, Size & Analysis, By Product Type (Potassium Chloride, Potassium Nitrate, Sulfate of Potash), By Mode of Application (Foliar, Broadcasting, Fertigation), By Crop Type (Cereals & Grains, Fruits & Vegetables, Oilseeds & Pulses), 2017-2027
Seed Treatment Market Size, Share & Demand, By Type (Chemical Seed Treatment, Biological Seed Treatment), By Crop Type, By Application Technique, By Function And By Region, Forecasts To 2027
Biopesticides Market Size, Share & Analysis, By Product Type (Bioherbicides, Bioinsecticides, Bionematicides), By Crop Type, By Mode of Application, By Source, By Formulation, And By Region, Forecasts To 2027
Phosphate Fertilizer Market Demand, Share & Outlook, By Product Type (Superphosphate, Monoammonium Phosphate, Diammonium Phosphate), By Application, By Distribution Channel And By Region, Forecasts To 2027
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