Humic-based Biostimulants Market Revenue Analysis, Industry Outlook, Forecast, 2020-2027

[supriya Kokate]

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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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.
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.
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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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Major Highlights of the Humic-based Biostimulants Market Report:
• A complete market overview
• An objective assessment of the Humic-based Biostimulants market’s growth trajectory during the forecast period
• Full coverage of the unprecedented changes in market dynamics during the pandemic era
• Market segmentation on both regional and global levels
• Projections of the historical, current, and forecast market size in terms of value and volume
• Closer look at the recent industry trends and developments
• Business growth strategies of key market players in the major regional markets
• Recommendations for new market entrants on strengthening presence in the global market
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