North American Humic Acid Market size is predicted to reach USD 400 million by 2028, according to a latest forecast report by Graphical Research.
Characterized by wide application base across agriculture and horticulture, the market is undergoing significant growth. With growing population levels and increasing per capita income, the demand for food crops is expanding every year. According to the U.S. Census Bureau, driven by a high level of immigration rates, the current population of the United States is expected to increase by 0.7-0.9% each year. To meet rising food consumption along with trends in consumer awareness, the agriculture sector is adopting various sustainable, organic products in farming, including the use of humic acid.
Humic acid is a natural soil conditioner, that chelates nutrient compounds in soil, making it suitable for plant utilization. It helps in increasing crop yields significantly with the minimum usage of fertilizers and harmful pesticides. Increased awareness of potential health problems linked with the use of synthetic fertilizers is a major factor supporting the use of organic ingredients such as humic acid in agriculture. The compound is known to raise the pH of soil to 5.5 to 7.5, which is suitable for plant growth and nutrient absorption.
The coronavirus pandemic has been an indirect influencer inducing of gardening habits in people. Locked indoors, people opted to indulge in growing their own fruits and veggies organically. Fields like pomology, floriculture and olericulture are gaining immense popularity among consumers, leading to increased demand for humic acid as it acts as a biostimulant; and can be used to make organic fertilizers. Furthermore, humic acid is also known for boosting primary & secondary plant metabolism and enhancing crop tolerance to environmental stresses. The soaring popularity of horticulture in North America is likely to propel humic acid sales in the future.
The horticulture segment will grow at 11% CAGR through 2028.
Browse detailed statistical insights from the report, “North America Humic Acid Market Forecast 2028 By Application (Agriculture, Ecological Bioremediation, Horticulture, Dietary Supplements), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
U.S. humic acid industry size will surpass USD 360 million by 2028. The regional government is taking several initiatives to further strengthen the strong agriculture industry. For instance, in 2018, the U.S. government launched Agriculture Improvement Act to facilitate the agricultural sector growth. Under this act, the government increased agricultural spending by USD 1.8 billion for the period 2019-2023. Such initiatives will provide necessary crop insurance benefits to farmers with added safety.
However, the country has seen a steep decline in the number of farms over the years. These growing concerns have led farmers to improve crop yields within the limited space. Humic acid can improve crop yield rates by significantly improving soil texture, nutrient capacity, and water retention in soil.
The market for humic acid in North America research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2017 to 2028 for the following segments:
North America Market, By Application
- Ecological bioremediation
- Dietary supplements
The above information has been provided for the following countries: