Humic-based Biostimulants- Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Humic-based Biostimulants market accounted for
$466.06 million in 2019 and is expected to reach $1283.55 million by 2027 growing at a CAGR of 13.5% during the forecast period. The high-value crops with export value experience higher demand for adoption of sustainable solutions, and limited entry barriers resulting in the entry of players of different tiers are the factors driving the market growth. However, local players do not guarantee the authenticity of bio stimulant products may hinder market growth.
Humic based biostimulants can be used in seeds before sowing that will upgrade the uptake of nutrients and water retention capacity. Humic substances are gathering of natural components of the soil organic matter with a relatively small molecular mass that results from the decomposition of plant, metabolic activities of soil microbe, animal and microbial residues. As compared to fulvic acids, the humic acid is dark in colour and has a high degree of polymerization and higher molecular weight and carbon content. In agriculture, most sources of human substance used are non-renewable and include natural humified organic matter, like mineral deposits, organic soil and peat. The humus fraction of soil organic matter plays an important role in soil biology.
By formulation, the liquid is expected to grow at the highest rate during the forecast period. The liquid formulation is easy in handling and application; hence most of the farmers use liquid formulation. The application of liquid humic-based bio stimulants strengthens efficiency by distributing evenly on the required area. Therefore, manufacturers are also offering most bio stimulant products in the liquid formulation as per the demand.
By geography, Europe is expected to have the highest market share during the forecast period, due to the rapid adoption of advanced technologies for improving the yield of crops in the region The European humic-based bio stimulants market is driven by the growing importance of a sustainable agriculture approach and increasing the development of new innovative products that target specific agronomic needs. The strong agricultural sector of the region makes it one of the leading consumers of bio stimulants.
Some of the key players profiled in the Humic-based Bio stimulants include Bayer Ag, Biolchim S.P.A, Bioline, Borregaard, Fmc Corporation, Haifa Group, Humic Growth Solutions, Humintech Gmbh, Koppert Biological Systems, Novihum Technologies Gmbh, Promisol, Qingdao Future Group, Sikko Industries Ltd, Upl Limited, and Valagro Spa Company.
• Fulvic acid
• Humic acid
• Potassium Humate
Crop Applications Covered:
• Agriculture (Open Fields) Service
• Water-Soluble Granules
• Water-Soluble Powders
Mode of Applications Covered:
• Foliar Treatment
• Seed Treatment
• Soil Treatment
• Synthetic Biostimulants
Distribution Channels Covered:
End Users Covered:
• Research Institutes
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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