Data Loading...
North America Humic Acid Market to Surpassed USD 390 Mn by 2027 Flipbook PDF
North America humic acid market is predicted to grow significantly through 2027. The rising demand for ecologically frie
125 Views
8 Downloads
FLIP PDF 220.75KB
North America Humic Acid Market to Surpassed USD 390 Mn by 2027: Graphical Research. North America humic acid market is predicted to grow significantly through 2027. The rising demand for ecologically friendly agricultural practices is predicted to stimulate the compound demand, which may be fueled by an increasing emphasis on health and wellbeing in the face of the COVID-19 epidemic. Long-term usage of chemical-based fertilizers can have an adverse influence on the ecosystem, such as soil quality deterioration and other negative effects. Because the product functions as an organic soil conditioner, humic acid is expected to experience increasing adoption across modern farms. As farmers transition from traditional fertilizers toward innovative alternatives, the humic acid industry outlook is set to improve across North America.
Quoting an instance from 2018, The Agriculture Improvement Act was enforced by the United States government to help the agriculture industry expand across the region. The government raised agriculture expenditures by USD 1.8 billion under this act for the fiscal years 2019-2023. The act will provide farmers with crucial crop insurance advantages as well as increased security, favoring North America humic acid market forecast. Horticulture segment accounted for approximately 20% share of North America humic acid industry in 2020. Government intervention and a positive shift in market trends, notably in the farming sector, have boosted the organic food industry in America. Agriculture, food, and associated industries contributed more than 5% of total GDP in 2019. In North America, humic acid is also extensively employed as a biostimulant in floriculture, pomology, and olericulture, paving the way for product penetration. It aids in the modification of primary and secondary plant metabolism and the enhancement of crop tolerance to environmental challenges. Besides that, the product is frequently cultivated with organic fertilizers, which are non-toxic and have no adverse impact on human health or the environment. In 2020, Canada humic acid segment represented a reginal market share of more than 10%. In the coming years, supportive government measures will improve agricultural productivity in the country. The Canadian government invested more than USD 50 million in the agriculture industry in 2019. Its aid in May 2020 that it will invest more than USD 250 million to help farmers, food processors, and food enterprises. Over the past decade, organic foods are recognized to be more nutritious while also adhering to ecological factors, which assist in biodiversity conservation.
1|Page
The Andersons Inc., Faust Bio-Agricultural Services Inc., Humic Growth Solutions Inc., Nature’s Lawn & Garden Inc., Black Earth Humic LP, Organic Approach LLC, and WilburEllis Company LLC are among the leading humic acid manufacturers & distributors in North America market. The number of farms in the United States in 2019 was 2,023,400, a 5,800 decrease from 2018. During the same time span, overall farmland dropped by 2,100,000 acres. These statistics are likely to motivate farmers to increase agricultural yields within restricted area as a result of these developing challenges. Browse key industry insights from this 2020 report North America Humic Acid Market in detail along with the table of contents at:
https://bit.ly/3aoEx1F Humic acid can boost yield rates by improving soil texture, nitrogen buffering capability, and water retention. It enhances plant development by allowing for effective nutrient absorption from the soil. These ecological and environmental features of the product are expected to boost North America market share.
Segmentation of North America Humic Acid Market:
North America Market, By Application • • • • •
Agriculture Ecological bioremediation Horticulture Dietary supplements Others
The above information has been provided for the following countries: •
North America • U.S. • Canada
2|Page
About Graphical Research: Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.
Contact Us:
Parikhit B. Corporate sales, Graphical Research Email: [email protected] Web: https://www.graphicalresearch.com/
3|Page