North America Humic Acid Market Forecast to 2030
North America Humic Acid Market Forecast to 2030 – Regional Analysis – by Form (Dry, and Liquid) and Application (Agriculture, Horticulture, Ecological Bioremediation, Dietary Supplements, and Others)
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Description
Increasing Use of Humic Acid for Agricultural Yield Improvement Fuels North America humic acid market
Humic acid is a natural compound derived from organic matter such as decomposed plant material. It is known for its beneficial effects on soil fertility and plant growth. Upon application to the soil, humic acid enhances its physical, chemical, and biological properties. It improves soil structure, increases water-holding capacity, enhances nutrient retention, and promotes the growth of beneficial microorganisms, which leads to improvements in soil conditions through better nutrient availability and uptake, resulting in improved crop yields. As a result, the demand for humic acid-based fertilizers, soil amendments, and biostimulants, among others, has been increasing. In addition, humic acid has been found to stimulate root and shoot growth, leading to increased biomass production. It promotes the development of lateral roots, improves nutrient uptake efficiency, and enhances plant metabolism, in turn, resulting in plant growth with the potential to produce high yields and better-quality food products. These stats have been alarming the agricultural sector about the subsequently increasing food demand. As a result, agriculturists across the world are focusing on modifying farming practices to obtain high yields from smaller cultivation areas. Thus, the need for fertilizers in farming, including humic acid-based ones, increases with a major focus on crop protection and yield enhancement in the agricultural sector.
North America Humic Acid Market Overview
The humic acid market in North America is segmented into the US, Canada, and Mexico. The demand for humic acid products is increasing in these countries owing to its broad application areas, including agriculture, nutraceuticals, environmental protection, etc. Natural ingredients, such as humic acid, are used in organic farming. Rising government spending on the agricultural sector across North America and supportive policies drive the use of humic acid products in agricultural applications. The continual growth of organic fertilizers and bio-stimulants boost humic acid sales in the coming years.
The growing population and increasing per capita income propel the demand for food and cash crops. As per the FAO, food demand in the US is expected to increase by 50-90% by 2050. The shift toward organic food consumption in North America has increased the dependency on water-soluble bio-stimulants such as humic acid in the region, which fuels the humic acid market growth in the region.
North America Humic Acid Market Revenue and Forecast to 2030 (US$ Million)
North America Humic Acid Market Segmentation
The North America humic acid market is segmented into form, application, and country
Based on form, the North America humic acid market is segmented into dry and liquid. The dry segment held a larger North America humic acid market share in 2022.
Based on application, the North America humic acid market is segmented into agriculture, horticulture, ecological bioremediation, dietary supplements, and others. The agriculture segment held the largest North America humic acid market share in 2022.
Based on country, the North America humic acid market is segmented into the US, Canada, and Mexico. The US dominated the North America humic acid market in 2022.
Agricultural and Mining Development SA, Agriculture Solutions Inc, Black Earth Products Inc, Faust Bio-Agricultural Services Inc, Grow More Inc, Humic Growth Solutions Inc, Humintech GmbH, MYCSA Ag Inc, and The Andersons Inc. are some of the leading companies operating in the humic acid market in the region.
Summary Info
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According to the research team’ research, the North America humic acid market was valued at US$ 253.19 million in 2022 and is expected to reach US$ 587.95 million by 2030, registering a CAGR of 11.1% from 2022 to 2030. Increasing use of humic acid for agricultural yield improvement and expansion of humic acid applications are the critical factors attributed to the North America humic acid market expansion.
According to the 2023 Organic Industry Survey conducted by the Organic Trade Association, organic food sales in the US in 2022 increased to US$ 67.6 billion in 2023 from US$ 63 billion in 2022.
Organic farming practices emphasize soil health and fertility. As a natural soil amendment, humic acid enhances soil structure, improves nutrient availability, and promotes microbial activity. It helps organic farmers maintain and improve soil fertility. Organic food production requires compliance with specific standards and regulations. Organic certifying bodies often require the use of approved inputs and practices, including organic soil amendments. Humic acid, derived from organic sources, fulfills the requirements for organic certification. In addition, humic acid has been shown to improve plant growth by facilitating root development and improving stress tolerance. Organic food producers prioritize plant health and natural disease resistance by minimizing synthetic pesticides and fertilizers. The use of humic acid in organic farming contributes to the production of food that is perceived as healthier and more environmentally friendly. Thus, the growing demand for organic food products would lead to new trends in the humic acid market in the coming years, as it is being projected as an essential component of organic farming practices.
On the contrary, lack of standardization hurdles the growth of North America humic acid market.
Based on form, the North America humic acid market is segmented into dry and liquid. The dry segment held 69.8% share of North America humic acid market in 2022, amassing US$ 176.76 million. It is projected to garner US$ 416.11 million by 2030 to expand at 11.3% CAGR during 2022-2030.
Based on application, the North America humic acid market is segmented into agriculture, horticulture, ecological bioremediation, dietary supplements, and others. The agriculture segment held 54.1% share of North America humic acid market in 2022, amassing US$ 136.91 million. It is projected to garner US$ 304.60 million by 2030 to expand at 10.5% CAGR during 2022-2030.
Based on country, the North America humic acid market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 74.0% share of North America humic acid market in 2022. It was assessed at US$ 187.47 million in 2022 and is likely to hit US$ 443.20 million by 2030, exhibiting a CAGR of 11.4% during 2022-2030.
Key players operating in the North America humic acid market are Agricultural and Mining Development SA, Agriculture Solutions Inc, Black Earth Products Inc, Faust Bio-Agricultural Services Inc, Grow More Inc, Humic Growth Solutions Inc, Humintech GmbH, MYCSA Ag Inc, and The Andersons Inc, among others.
In Feb 2023, The Andersons, Inc. launched a new line of granular micronutrients branded MicroMark DG. These engineered plant nutrient products feature dispersing granule (DG) technology, resulting in homogenous spherical granules for easier blending, spreading, and, most importantly, increased efficacy. The company offers humic acid products under this category. In July 2020, Black Earth Humic completed the acquisition of Canadian Humalite International. This acquisition allowed the company to diversify its product portfolio and to work on agriculture and applied humic innovations. After the acquisition, the company name was changed to “Black Earth Products Inc.”
o Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America humic acid market.
o Highlights key business priorities in order to assist companies to realign their business strategies
o The key findings and recommendations highlight crucial progressive industry trends in the North America humic acid market, thereby allowing players across the value chain to develop effective long-term strategies
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
o Scrutinize in-depth North America market trends and outlook coupled with the factors driving humic acid market, as well as those hindering it
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution
TABLE OF CONTENTS
1.1 The Research Team Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Humic Acid Market Landscape
4.1 Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 List of Raw Material Manufacturers
5. North America Humic Acid Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Increasing Use of Humic Acid for Agricultural Yield Improvement
5.1.2 Expansion of Humic Acid Applications
5.2 Market Restraints
5.2.1 Lack of Standardization
5.3 Opportunities
5.3.1 Rising Demand for Natural Feed Additives
5.4 Future Trends
5.4.1 Growing Demand for Organic Food Products
5.5 Impact of Drivers and Restraints:
6. Humic Acid Market – North America Market Analysis
6.1 North America Humic Acid Market Revenue and Forecasts To 2030 (US$ Million), 2022 – 2030
6.2 North America Humic Acid Market Forecast and Analysis
7. North America Humic Acid Market Analysis – Form
7.1 Dry
7.1.1 Overview
7.1.2 Dry: North America Humic Acid Market Volume, Revenue and Forecast to 2030 (Kilo Tons) (US$ Million)
7.2 Liquid
7.2.1 Overview
7.2.2 Liquid: North America Humic Acid Market Volume, Revenue and Forecast to 2030 (Kilo Tons) (US$ Million)
8. North America Humic Acid Market Analysis – Application
8.1 Agriculture
8.1.1 Overview
8.1.2 Agriculture: North America Humic Acid Market Revenue and Forecast to 2030 (US$ Million)
8.2 Horticulture
8.2.1 Overview
8.2.2 Horticulture: North America Humic Acid Market Revenue and Forecast to 2030 (US$ Million)
8.3 Ecological Bioremediation
8.3.1 Overview
8.3.2 Ecological Bioremediation: North America Humic Acid Market Revenue and Forecast to 2030 (US$ Million)
8.4 Dietary Supplements
8.4.1 Overview
8.4.2 Dietary Supplements: North America Humic Acid Market Revenue and Forecast to 2030 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: North America Humic Acid Market Volume, Revenue and Forecast to 2030 (Kilo Tons) (US$ Million)
9. North America Humic Acid Market – Country Analysis
9.1 North America
9.1.1 North America Humic Acid Market Overview
9.1.2 North America Humic Acid Market Revenue and Forecasts and Analysis – By Countries
9.1.2.1 North America Humic acid market Breakdown by Country
9.1.2.2 US: Humic Acid Market Volume and Forecasts to 2030 (Kilo Tons)
9.1.2.3 US: Humic Acid Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.3.1 US :Humic Acid Market Breakdown by Form
9.1.2.3.2 US : Humic Acid Market Breakdown by Form
9.1.2.3.3 US: Humic Acid Market Breakdown by Application
9.1.2.4 Canada :Humic Acid Market Volume and Forecasts to 2030 (Kilo Tons)
9.1.2.5 Canada : Humic Acid Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.5.1 Canada : Humic Acid Market Breakdown by Form
9.1.2.5.2 Canada : Humic Acid Market Breakdown by Form
9.1.2.5.3 Canada : Humic Acid Market Breakdown by Application
9.1.2.6 Mexico: Humic Acid Market Volume and Forecasts to 2030 (Kilo Tons)
9.1.2.7 Mexico: Humic Acid Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.7.1 Mexico: Humic Acid Market Breakdown by Form
9.1.2.7.2 Mexico: Humic Acid Market Breakdown by Form
9.1.2.7.3 Mexico: Humic Acid Market Breakdown by Application
10. Competitive Landscape
10.1 Heat Map Analysis by Key Players
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
11.4 Merger and Acquisition
12. Company Profiles
12.1 Agriculture Solutions Inc
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Black Earth Products Inc
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Agricultural and Mining Development SA
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Faust Bio-Agricultural Services Inc
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Humic Growth Solutions Inc
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Humintech GmbH
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 The Andersons Inc
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 MYCSA Ag Inc
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Grow More Inc
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
13. Appendix
LIST OF TABLES
Table 2. List of Raw Material Manufacturers in the US
Table 3. List of Raw Material Manufacturers in Canada
Table 4. North America Humic Acid Market Volume and Forecasts To 2030 (Kilo Tons)
Table 5. North America Humic Acid Market Revenue and Forecasts To 2030 (US$ Million)
Table 6. US: Humic Acid Market Volume and Forecasts To 2030 (Kilo Tons) – By Form
Table 7. US : Humic Acid Market Revenue and Forecasts To 2030 (US$ Mn) – By Form
Table 8. US :Humic Acid Market Revenue and Forecasts To 2030 (US$ Million) – By Application
Table 9. Canada : Humic Acid Market Volume and Forecasts To 2030 (Kilo Tons) – By Form
Table 10. Canada : Humic Acid Market Revenue and Forecasts To 2030 (US$ Mn) – By Form
Table 11. Canada : Humic Acid Market Revenue and Forecasts To 2030 (US$ Million) – By Application
Table 12. Mexico: Humic Acid Market Volume and Forecasts To 2030 (Kilo Tons) – By Form
Table 13. Mexico: Humic Acid Market Revenue and Forecasts To 2030 (US$ Mn) – By Form
Table 14. Mexico: Humic Acid Market Revenue and Forecasts To 2030 (US$ Million) – By Application
LIST OF FIGURES
Figure 2. Porter’s Five Forces Analysis
Figure 3. Ecosystem: North America Humic Acid Market
Figure 4. North America Humic Acid Market – Key Industry Dynamics
Figure 5. Impact Analysis of Drivers and Restraints
Figure 6. North America Humic Acid Market Revenue and Forecasts To 2030 (US$ Million), 2022 – 2030
Figure 7. North America Humic Acid Market Share (%) – Form, 2022 and 2030
Figure 8. Dry: North America Humic Acid Market Revenue and Forecasts To 2030 (Kilo Tons)
Figure 9. Dry: North America Humic Acid Market Revenue and Forecasts To 2030 (US$ Million)
Figure 10. Liquid: North America Humic Acid Market Revenue and Forecasts To 2030 (Kilo Tons)
Figure 11. Liquid: North America Humic Acid Market Revenue and Forecasts To 2030 (US$ Million)
Figure 12. North America Humic Acid Market Share (%) – Form, (2022 and 2030)
Figure 13. Agriculture: North America Humic Acid Market Revenue and Forecasts To 2030 (US$ Million)
Figure 14. Horticulture: North America Humic Acid Market Revenue and Forecasts To 2030 (US$ Million)
Figure 15. Ecological Bioremediation: North America Humic Acid Market Revenue and Forecasts To 2030 (US$ Million)
Figure 16. Dietary Supplements: North America Humic Acid Market Revenue and Forecasts To 2030 (US$ Million)
Figure 17. Others: North America Humic Acid Market Revenue and Forecasts To 2030 (US$ Million)
Figure 18. North America Humic acid market Breakdown Revenue, by Key Countries (2022)
Figure 19. North America Humic acid market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 20. Sukhumi Acid Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 21. US :Humic Acid Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 22. Canada : Humic Acid Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 23. Canada : Humic Acid Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 24. Mexico: Humic Acid Market Revenue and Forecasts To 2030 (Kilo Tons)
Figure 25. Mexico: Humic Acid Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 26. Company Positioning & Concentration
The List of Companies – North America Humic Acid Market
o Agricultural and Mining Development SA
o Agriculture Solutions Inc
o Black Earth Products Inc
o Faust Bio-Agricultural Services Inc
o Grow More Inc
o Humic Growth Solutions Inc
o Humintech GmbH
o MYCSA Ag Inc
o The Andersons Inc
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