Key words of the passage: humic; market; organic; food industry

Humicacids market size was USD 494.9 million in 2020 and is estimated to exhibit a CAGR of over 11.9% from 2021 to 2027. The growing organic food industry is anticipated to drive the industry growth over the forecast period.

Dietarysupplements are forecast to reach USD 124 million by 2027. Dietary supplements hold a moderate ability to capture the humic acid market size as they are utilized as a dietary supplement. It contains various nutrients including trace minerals, prebiotics, probiotics, electrolytes, and fatty acids that subsequently help in improving the immune system, boosts digestion, improves detoxification, etc.

Growth Drivers:

1. Growing demand for sustainable agriculture

2. Rising awareness about the negative impact of chemical fertilizers

3. Developing organic food industry

By Application

1. Agriculture

2. Ecological Bioremediation

3. Horticulture

4. dietary supplement

5. Others

Other major manufacturers working in the humic acid industry are Faust Bio-Agricultural Services, Black Earth, Sikko Industries Ltd, AGRIANDES DAYMSA S.A., Biolchim Deutschland GmbH, Changsha Xian Shan Yuan Agriculture & Technology Co., Ltd., HUMINTECH GmbH, AGBEST TECHNOLOGY CO.,LTD., Everwood Farm, NATURE'S LAWN & GARDEN INC, TAGROW., Grow More., WINFIELD SOLUTIONS LLC, National Pesticides & Chemicals, Manidharma Biotech, Organic Approach, Jiloca Industrial, Wilbur-Ellis and Saint Humic Acid.

Source: global market insights