GITNUX MARKETDATA REPORT 2024
Humic Acid Industry Statistics
The humic acid industry is expected to experience steady growth over the coming years due to increasing demand in agriculture and other sectors.
In this post, we will explore the latest statistics and trends shaping the humic acid industry. The global humic acid market is experiencing significant growth, with projections pointing towards a promising future for this key agricultural component. From regional dominance to application trends, we will delve into the key insights driving the humic acid market’s expansion and evolution.
Statistic 1
"The global humic acid market was valued at USD 494.96 million in 2020."
Statistic 2
"The humic acid market is projected to grow at a CAGR of over 4% during 2021 - 2026."
Statistic 3
"Among all applications, agriculture holds the highest market share of around 80% in the humic acid market."
Statistic 4
"The Asia-Pacific region dominates the humic acid market with a market share of around 35%."
Statistic 5
"Humic Acid Market in Latin America is expected to grow at a CAGR of 12.3% from 2020 to 2030."
Statistic 6
"Organic farming, which uses humic acid, is expected to grow at a rate of about 14% annually through 2024."
Statistic 7
"More than 50% of the humic acid produced worldwide is used in the form of potassium humates."
Statistic 8
"In 2019, Europe held a market share of more than 25% in the global humic acid market."
Statistic 9
"The Revenue in the Humic Acid segment is projected to reach US$8.9M in 2023."
Statistic 10
"The largest humic acid manufacturers are based in the United States, India, China, and Brazil."
Statistic 11
"The humic acid market will be driven by an increase in the need for high crop yield and quality."
Statistic 12
"The humic acid market is projected to reach US$674.2 million by 2024."
Statistic 13
"The humic acid industry will see a significant lift from drought conditions that increase the need for soil amendments."
Statistic 14
"Animal feed application segment is anticipated to show steady growth of above 5% in the humic acid market."
Statistic 15
"The largest share of the humic acid market in 2017 was of liquid form which contributed to over 50%."
Statistic 16
"The rise in population and reduction in fertile lands have pushed the humic acid market size to increase in recent years."
Statistic 17
"Increasing knowledge about soil nutrition is anticipated to boost the market growth by more than 12% CAGR by 2022."
Statistic 18
"The humic acid market is expected to move further forward as the world shifts towards organic farming and reduces the use of hazardous chemical fertilizers."
Jannik Lindner
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