According to a recent market study published by Growth Market Reports titled, “Global Humic Acid Water Soluble Fertilizers Market by Type, Application and Region: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at USD 8,302.1 Million in 2019 and is expected to grow at a healthy growth rate of 3.5% by the year 2027. Humic acid is an organic molecule having major role in soil fertility and plant nutrition. It is rich in carbon, phenolic, carboxylic, carbohydrates, and enolic groups. Humic acid water-soluble fertilizers consist of humic acid and macronutrients. Humic acids Prevent high water and nutrient losses in light, sandy soils. Simultaneously convert them into fruitful soils by way of decomposition. In heavy and compact soils, aeration of soil and water retention are improved; cultivation measures are facilitated. It also helps in preventing soil cracking, surface water runoff and soil erosion by increasing the ability of colloids to combine.

The global humic acid water soluble fertilizers market is segmented into different segments that are type, application and Region. Based on type, the global humic acid water soluble fertilizers market is segmented into the following categories: Liquid Fertilizers and Solid Fertilizers. Based on application, the global humic acid water soluble fertilizers market is segmented into crops, vegetables, fruits, turf, and others. Based on the region, the global Humic Acid Water Soluble Fertilizers market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). North America region is further bifurcated into countries such as the U.S., and Canada. The Latin America region is further segmented into Brazil, Mexico, and the Rest of Latin America, the Asia Pacific is further segmented into, India, China, South Korea, Australia, Japan, and Rest of Asia Pacific. The European region is further categorized into the U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe, and the MEA region is further divided into Saudi Arabia, South Africa, UAE, and Rest of Middle East & Africa (MEA).

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In the year 2020, the Humic Acid Water Soluble Fertilizers market is expected to witness a lower sale due to the adverse effect COVID 19 pandemic on business across the world. The COVID-19 pandemic has had a rapid and serious impact on the global manufacturing and financial sectors. However, no clarity on the deeper effects has been provided. Global disruptive supply chain, lack of raw material availability, temporary shutdown of production units is the reason for lower production output. Moreover, global demand from the customer’s side has also fallen due to the spread of the pandemic.

As per Growth Market Reports industry analyst Vidya Yadav, “The global Humic Acid Water Soluble Fertilizers market is anticipated to witness significant growth during the forecast period 2020-2027 driven by the product beneficial properties such as resistance property of these fertilizers, provides uniform application, can be used for both starter and in-season application, easier to handle when blending and applying. Asia Pacific is expected to register highest demand growth owing to industrial practices being adopted in agriculture to improve crop yield. High agricultural growth in China and India are expected to be major drivers for Asia Pacific industry’s growth”.
Key Takeaways from the Study:
• North America market is expected to witness large growth in terms of revenue generation, increasing biological stimulants consumption in agriculture will strengthen North America growth over the forecast horizon.
• Increasing organic farming in Western Europe is projected to drive European market growth over the forecast period.
• The key factors involved in the manufacturing are raw materials, machineries purchase, and labor costs. The labor cost is one of the major expenses for manufacturers. Generally, the labor cost in developing regions like China and Southeast Asia is much lesser than in developed regions as United States and Europe.
• Considering the share, the tier 3 players are holding significant market share. The tier wise distribution of players is performed on the basis of revenue earned, product offerings, regional presence, distribution network, and other recent developments of companies. Tier 1 companies hold next market share in terms of tier wise distribution of these players.
• Merger & Acquisition and Company expansion remains the key strategy of the companies for growth. In Feb 2019, Haifa Group Expands Service Offering in China with the Opening of Haifa Beijing Trading Company. The establishment of the new Haifa subsidiary in China enables the group to significantly expand its offerings to the developing Chinese agricultural sector.
Target Audience:
• Supply-side: Humic Acid Water Soluble Fertilizers manufacturers, raw material suppliers, primary respondents, and distributors.
• Demand Side: Agriculture firm, Fruits & vegetables producers etc.
• Regulatory Side: Agriculture Nutrient Management and Fertilizer - EPA, State Fertilizer Laws (Statutes) and Regulations, Tanzania Fertilizer Regulatory Authority (TFRA) Fertilizers regulation – USA
• Associations and Industry Bodies: Agriculture Nutrient Management and Fertilizer, State Fertilizer Laws & Regulations, Fertilizers Regulations – WIPO, The International Fertilizer Industry Association (IFA), Illinois Fertilizer & Chemical Association, International Fertilizer Association.