Humic Based Biostimulants Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033

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What is the Projected Growth Rate and Market Size of the Humic Based Biostimulants Market?

The humic based biostimulants market size has been on an impressive growth trajectory recently, with a projected boost from $0.66 billion in 2023 to $0.75 billion in 2024, to $1.26 billion in 2028 at a compound annual growth rate (CAGR) of 13.8%. which is a compound annual growth rate CAGR of 13.8%. The rise during the historical period can be linked to increased consumer preference for organic produce, a booming global population, supportive government subsidies, expansion of the agriculture industry, and heightened research and development.

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What Factors Are Driving The Humic Based Biostimulants Market?

There's an mounting demand for the adoption of sustainable solutions in farming, which is fanning the flames for growth in the humic-based biostimulants market. The surging population puts intense pressure on producing high-quality yield crops. According to a representative of Agricen Sciences, an applied sciences research company, there is rapid growth in the biostimulants market across all geographies, including the USA and Europe. Additionally, the surge in organic farming has accelerated the adoption of humic-based biostimulants worldwide. For instance, in May 2023, the Organic Trade Association, a US-based business association, reported that organic food sales in the United States for 2022 exceeded a record $60 billion, an unprecedented milestone for the robust organic sector. The total organic sales include both edible and non-edible products, reaching a groundbreaking figure of $67.6 billion. Therefore, sustainable solutions combined with the growth of organic farming are expected to drive the humic-based biostimulants in the forecast period.

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Well-Known Companies Fueling Market Growth

The line-up of major companies operating in the humic-based biostimulants market includes giants like Syngenta AG, Biolchim S.P.A., FMC Corporation, Haifa Group, UPL Limited, Bayer AG, Sikko Industries Ltd., Humintech GmbH, Promisol, Novihum Technologies GmbH, Borregaard, Qingdao Future Group, Bioline, Humic Growth Solutions, Actagro LLC, Rovensa S.A., Tagrow, Cifo S.P.A., Loveland Industries Inc., Eastman Chemical Company, OMEX Agricultural Holdings Limited, and LALLEMAND Inc, among others These industry players play a crucial role in shaping trends and facilitating progress in the market.

Emerging Trends Transforming the Market

Significant strides are being taken in the humic-based biosimulants market, such as the advancements in chelation with various minerals. Companies around the globe are developing a host of agricultural solutions imbued with chelated extra minerals to enhance the nutraceutical nature of crops and plants. For instance, Germany's humic substances producer, HuminTech, unveiled a humic-based biostimulant with iron chelation, a product that can both prevent and remedy iron-deficiency symptoms in plants while also bolstering plant resistance against abiotic stress factors.

Market Segmentation

The humic-based biostimulants market is segmented:

1 By Type: Fulvic Acid, Humic Acid, Potassium Humate
2 By Type Of Formulation: Liquid, Water-Soluble Granules, Water-Soluble Powders
3 By Mode of Application: Agriculture, Cereals, Fiber Crops, Fruits & Vegetables, Oilseeds
4 By End-User: Farmers, Related Industries, Research Institutes

Worldwide Market Insights

North America emerged as the largest region in the humic-based biostimulants market in 2023. Asia-Pacific is projected to be the region experiencing the fastest growth in the forecast period. All of the geographical regions covered in the report encompass Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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