Sellbyville, DE -- (SBWIRE) -- 06/11/2020 -- As per the latest research report Global Market Insights5, Humic Acid Market will reach USD 1.4 billion by 2026 to grow at 14% CAGR from 2020 to 2026. The agriculture industry will rise exponentially over the forecast period.

The ever increasing population, soil quality degradation, and dearth of food are thus emerging as fundamental factors augmenting the global demand for humic acid. The humic acid market outlook is also witnessing a transformation on account of ongoing trend for organic products. According to Organic Trade Association, organic sales in the United States hit an appreciable USD 52.5 billion mark in 2019.

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To meet the requirement of a consistently growing population, agricultural demand, by 2050, may increase by nearly 50 per cent as compared to 2013, as reported by Food and Agriculture Organization report. Additionally, it has been apprehended that worldwide food demand is anticipated to rise anywhere between 59 to 98 per cent by the end of 2050. Therefore, to suffice this, farmers are turning towards sustainable farming techniques and methods which would potentially enhance their production capabilities.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Andersons, Inc.
2. Everwood Farm
3. Nature's Lawn & Garden
4. Faust Bio-Agricultural Services
5. Humintech GmbH
6. Changsha Xian Shan Yuan Agriculture and Technology
7. Agriculture Solutions Inc.
8. NPK Industries
9. Nutri-Tech Solutions Pty Ltd.
10. Tagrow Co. Ltd.
11. WinField Solutions
12. Organic Approach LLC
13. National Pesticides & Chemicals
14. Sikko Industries Ltd.
15. Wilbur-Ellis Company LLC

Considering this reduction, crop management has become a necessity today owing to the growing demand for crop yields in order to feed an ever-increasing population. Over exploitation of arable lands has led to degradation and depletion of soil nutrients and fertility. However, use of humic acid across this land tends to enhance its water retention properties along with the soil texture, thereby improving the complete soil productivity. Mounting cognizance amongst agriculturists and farmers to maintain and augment the quality of soil for obtaining high agricultural output would substantially bring about a revolution in humic acid market in the upcoming years.

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With rising consciousness pertaining to consuming healthy food, the need for organic food products is tremendously expanding. In this context, humic acid market has seen remarkable growth proceeds over the recent years. Humic substances play an essential role in building a nutritious soil system which significantly contribute towards development of more resilient plants. What has prompted the explicit use of these substances in fruit, vegetable, and crop production is a decrease in agricultural land worldwide.

By Application

1. Agriculture
2. Ecological bioremediation
3. Horticulture
4. Dietary supplements
5. Others

With this increasing demand of organic products in U.S. and Canada, North America region is projected to stand tall in humic acid market in the near future. Reports suggest that over 30 per cent of homes across the U.S. make use of organic food products due to rising awareness and high economic affluence of the residents. It is prudent to mention that North America, additionally, also houses the presence of one of the most prominent humic acid providers – Black Earth Humic.

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