Market Size of Humic Acid Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 0.79 Billion |
| Market Size (2029) | USD 1.38 Billion |
| CAGR (2024 - 2029) | 11.61 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Humic Acid Market Analysis
The Humic Acid Market size is estimated at USD 0.79 billion in 2024, and is expected to reach USD 1.38 billion by 2029, growing at a CAGR of 11.61% during the forecast period (2024-2029).
The market was negatively impacted by COVID-19 in 2020. However, the COVID-19 outbreak has led to the blooming of home gardening, along with growing food insecurity across various regions of the world. Presently the market has now reached pre-pandemic levels.
- Over the short term, the major driving factors of the market are its massive demand from the agriculture sector.
- However, a lack of awareness among farmers is likely to slow down the market.
- Nevertheless, changing demographics, food habits in emerging markets, and the growing need for organic fertilizers and bio-stimulants are expected to increase the demand for humic acid over the forecast period.
- Europe dominates the market across the world, with the most substantial consumption from countries like France, Germany, and United Kingdom.
