The global humic-based biostimulants market size was US$ 503 million in 2021. The global humic-based biostimulants market is forecast to grow to US$ 900 million by 2030 by growing at a compound annual growth rate (CAGR) of 10.6% during the forecast period from 2022 to 2030.
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A biostimulant is a natural additive or microorganism widely used to improve nutrition efficiency, abiotic stress tolerance, and crop quality. It is used in the production of various cereals and grains, fruits and vegetables, oilseeds and pulses, turfs and ornamentals, etc. Further, biostimulants can be applied to plants through several methods such as foliar treatment, soil treatment, and seed treatment.
Factors Influencing the Market
Soil treatment with biostimulants has become necessary to treat degraded soil and enhance the soil quality for agriculture. Thus, such factors will primarily drive the growth of the global humic-based biostimulants market during the study period. Further, seed treatment has become essential to reduce the chances of disease development from seed-borne fungi. Thus, it will benefit the global humic-based biostimulants market during the forecast period.
The market for humic-based biostimulants will also be driven by the tremendous pressure exerted on high-quality crop production. Further, the fact that humic-based biostimulants can resolve various problems associated with crop production will boost the growth of the humic-based biostimulants market.
The rising awareness about the health benefits of humic-based biostimulants, combined with the growing adoption of sustainable agricultural practices will escalate the growth of the humic-based biostimulants market. On the contrary, a lack the authenticity of biostimulant products may limit the growth of the market during the study period.
Regional Analysis
North America is forecast to hold the highest market share in the humic-based biostimulants market, owing to the growing range of technological advancements and rising agricultural practices. Further, the Asia-Pacific humic-based biostimulants market is forecast to record a substantial growth rate due to an increase in agricultural practices and the demand for agricultural products. Further, the increasing need to meet international standards will also drive the humic-based biostimulants market forward.
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COVID-19 Impact Analysis
Due to the pandemic, agricultural practices and innovations in the industry increased drastically. As a result, it boosted the growth of the humic-based biostimulants market. Further, the market witnessed several growth opportunities as the demand for food produced hiked after the COVID-19 outbreak.
Competitors in the Market
? China Daily Co., Ltd.
? Agriculture Solutions Inc.
? Eastman Chemical Company
? Arysta Lifescience Corporation
? Agrinos AS
? BASF SE
? Isagro SpA
? Valagro SpA
? Bayer Ag
? Italpollina SpA
? Biolchim SpA
? Koppert Biological Systems
? Acadian Seaplants Ltd.
? FMC Corporation
? Other Prominent Players
Market Segmentation
The global humic-based biostimulants market segmentation focuses on Crop, Formulation, Application, Type, and Region.
Based on crop application:
? Agriculture (open fields)
? Cereals
? Oilseeds
? Fruits & vegetables
? Fiber crops
? Other crop types
? Other applications
Based on formulation:
? Liquid
? Water-soluble powders
? Water-soluble granules
? Other formulations
Based on the mode of application:
? Foliar treatment
? Seed treatment
? Soil treatment
Based on type:
? Humic acid
? Fulvic acid
? Potassium humate
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On the basis of region
�?� North America
o The U.S.
o Canada
o Mexico
�?� Europe
Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
�?� Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
�?� Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
�?� South America
o Brazil
o Argentina
o Rest of South America
What is the goal of the report?
? The market report presents the estimated size of the market at the end of the forecast period. The report also examines historical and current market sizes.
? During the forecast period, the report analyzes the growth rate, market size, and market valuation.
? The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
? The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance
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