Humic Based Biostimulants Market Report 2024 - Humic Biostimulants Market Growth, Trends, And Segments

"The Business Research Company recently released a comprehensive report on the Global Humic Based Biostimulants Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The humic based biostimulants market size has grown rapidly in recent years. It will grow from $0.66 billion in 2023 to $0.75 billion in 2024 at a compound annual growth rate (CAGR) of 13.8%. The growth in the historic period can be attributed to rise in consumer preference for organic produce, increase in global population, government subsidies and support, expansion of the agriculture industry, increased research and development.

The humic based biostimulants market size is expected to see rapid growth in the next few years. It will grow to $1.26 billion in 2028 at a compound annual growth rate (CAGR) of 13.8%. The growth in the forecast period can be attributed to growing demand for sustainable agriculture, growing food demand, rising awareness about the importance of crop protection, rise in disposable income. Major trends in the forecast period include customized formulations, biostimulants for non-food crops, biostimulant combinations, collaboration and partnership.

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Market Drivers and Trends:
Increase in the demand for the adoption of sustainable solutions in farming is driving the market growth of humic-based biostimulants. Due to increase in population, there is an immense pressure to produce crops with high-quality yield. According to the spokesperson of Agricen Sciences, an applied sciences research company, commented that there is a rapid growth of biostimulants market in all geographies including the USA and Europe. Furthermore, due to increase in organic farming, the adoption of humic-based biostimulants has increased across the globe. For instance, in May 2023, according to the Organic Trade Association, a US-based business association, organic food sales in the United States for 2022 exceeded $60 billion for the first time, marking a significant milestone for the robust organic sector. The total organic sales, which encompass both organic food and non-food products, reached a record-breaking $67.6 billion. Therefore, sustainable solutions coupled with increase in organic farming is expected to drive the humic-based biostimulants during the forecast period.

Innovations in humic-based biosimulants such as chelation with different minerals is shaping the humic-based biostimulants market. Companies across the globe that are working on a wide variety of agricultural solutions with chelated additional minerals to enhance the nutraceutical nature of crops and plants. For instance, HuminTech, a German based humic substances producer, has launched a humic based biostimulant with iron chelation. The product can be used to prevent and correct iron deficiency symptoms in plants, along with increasing the resistance of plants to abiotic stress factors.

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Major Key Players of the Market:
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, LALLEMAND Inc., Agrinos AS, Brandt Consolidated Inc., Koppert Biological Systems B.V., Valagro S.p.A., Marrone Bio Innovations Inc., Novozymes A/S, Biovert S.L., Black Earth Humic LP, Nutri-Tech Solutions Pty. Ltd., Biostadt India Limited, Bioiberica S.A.U., Fertiplus International BV, BioAtlantis Ltd.

Humic Based Biostimulants Market 2024 Key Insights:
• The humic based biostimulants market size is expected to see rapid growth in the next few years. It will grow to $1.26 billion in 2028 at a compound annual growth rate (CAGR) of 13.8%.
• Increasing Demand For Sustainable Farming Drives Growth In Humic Based Biostimulants Market
• Innovations In Chelated Humic-Based Biostimulants Transforming Agriculture
• North America was the largest region in the humic-based biosimulants market in 2023

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This release was published on openPR.