Europe Humic Acid Market size surpassed USD 147.7 million in 2020 and is set to observe around 11.4% growth between 2021 and 2027.

The market revenue is majorly driven by shifting focus toward organic fertilizers over chemical fertilizers. Furthermore, adverse environmental and health effects of chemical fertilizers will stimulate product demand. The strong growth indicators of organic farming in recent years across European countries due to growing awareness of product benefits will positively influence the industry growth.

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Government initiatives to boost organic farming methods and achieve environmental sustainability have substantially propelled humic acid demand across the region for agriculture applications. For instance, in May 2020, the Farm to Fork strategy of the European Union mentioned organic farming as a key sector to achieve the objectives of the European Green Deal. As a part of the strategy, the commission published the 2021–2027 Organic Action Plan, which boosts organic demand and supply. The strategies will enable the region to bring at least 25% of the regional agricultural land under organic farming by 2030. Additionally, the rising population across Europe coupled with decreasing arable land owing to industrialization and urbanization will stimulate fertilizer demand to achieve high yields.

According to the Research Institute of Organic Agriculture (FiBL), the growth of organic agricultural land has been substantial in Europe with organic areas doubling since 2004. Producer numbers have also grown significantly with more than 250,000 in the EU–28 and 370,000 in Europe. Furthermore, in 2015, the organic area increased by double–digit rates in EU–15 countries and other European countries mainly due to an increase in Spain, Italy, and the Russian Federation. Retail organic sales of the European Union in 2019 were valued at around USD 50.53 billion.

The COVID–19 pandemic in Europe has adversely impacted the food & beverage sector as consumption has lowered in every major sector. The sector is also suffering from supply chain disruptions caused by the pandemic. Pulled between soaring demands for some products (at–home consumption) and an uncertain outlook of out–of–home consumption, which historically generates the highest margin, the sector is facing unique challenges. Companies in the sector must simultaneously navigate challenges such as safeguarding employee well–being, managing potentially disrupted supply chains, and evaluating tumultuous economic & capital market conditions. There may be long–term changes in customer behavior, thereby hampering dietary supplement demand.

Europe Market, By Application

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The dietary supplements segment will showcase a CAGR of 11.5% through 2027. Humic acid has been extensively used as dietary supplements as it comprises various nutrients including fatty acids, trace minerals, electrolytes, silica, probiotics, and prebiotics. The availability of several nutrients that provide various health benefits including improved immune system, better nutrient absorption, improved digestion, repairing & protecting skin, etc., will subsequently boost the market share from dietary supplements.

Competitive Industry Landscape

Key players operating in the Europe humic acid market include The Andersons, Inc., Daymsa, Biolchim S.p.A., Humintech GmbH, Humic Growth Solutions, Inc., and others. The other notable companies are Nutri–Tech Solutions Pty. Ltd., Sikko Industries Ltd., Tagrow Co., Ltd., Grow More, Inc., WinField, Manidharma Biotech Private Limited, National Pesticides & Chemicals, Wilbur–Ellis Company LLC, and Jiloca Industrial, S.A.

The Europe humic acid industry is highly competitive owing to the presence of large number of players at the regional level. Product launches, mergers & acquisitions, and the establishment of new production facilities are among key strategies of companies to enhance their market share.