Humic-based Biostimulants Market Research Report: Information by Product Type (Humic Acid, Fulvic Acid, Potassium Humate), Crop Type (Fruits & Vegetables, Cereals, Oilseeds, Fiber Crops, and Others),Form (Dry, Liquid), Mode of Application (Foliar Treatment, Soil Treatment, Seed Treatment),and Region (North America, Asia-Pacific, Europe, and the Rest of the World)—Forecast till 2028

Humic-Based Biostimulants Market Scenario

Global humic-based biostimulants-market size is projected to reach approximately USD 1,024.5million by 2028, at a CAGR of 9.45% from 2021 to 2028. Maintaining food production for a growing world population without compromising natural resources is one of the biggest challenges for agricultural science. Owing to the increasing demand for food, agricultural activities have been intensified to the point that they have now resulted in irreversible global climate change and loss in many ecosystem services. Because of this, there is a requirement for sustainable intensification. Using biostimulants based on humic substances is one of the potential solutions which help in saving the environment. The growing applications of humic substances within agronomic systems can be of great help in the development of sustainable intensification. Most of the humic substances used in agriculture are currently derived from non-renewable resources such as peat and coal. For promoting this technology, developing new sustainable sources of humic products is also required, such as organic wastes.

Biostimulants are applied to plants, seeds, and soil for the stimulation of the natural processes of plants. They help in enhancing the quality, tolerance, yield, and vigor of crops. Biostimulants help in nurturing the development of plants throughout their lifecycle, from seed germination up to crop maturity. The global biostimulants market is expected to experience significant growth during the forecast period, owing to the increasing demand for organic and eco-friendly agro products worldwide. Biostimulants are used as an effective tool for developing sustainable agricultural products. The increasing usage of synthetic pesticides, resulting in the rising ecological concerns, growing demand for high-value crops are some of the major reasons driving the growth of the global humic-based biostimulants market during the forecast period.

COVID-19 Analysis

The impact of COVID-19 has directly affected the distribution and sales of different products across industries. Many countries are under lockdown and have sealed their borders to control the spread of the virus. The impact of COVID-19 on logistics has disrupted the supply of raw materials, which has further reduced production capacity and, thus, product shortages. These factors are expected to affect the market size of global humic-based biostimulants.

However, the COVID-19 pandemic has impacted minimally on the humic-based biostimulants market. The impact is majorly due to the disruption ofthe supply chain. Due to the pandemic, many consumers are inclining towards a healthier lifestyle and increasingly demanding organic food products because of the increasing health consciousness among consumers at a global level. This creates a huge demand for the humic-based biostimulants market, as biostimulants are associated with organic farming and gardening. Moreover, the restrictions imposed by the government for COVID-19have not affected the agriculture sector much. The demand for agricultural products has also not affected during the lockdown period. Thus, the demand forhumic-based biostimulants hasexperienced substantial growth in 2020 and is expected to witness spectacular growth in the near future.

Market Synopsis

Biostimulants enhancethe life of plantsin terms of growth and productivity. It helps in increasing the stress tolerance of plants in terms of disease or drought. It also helps in enhancing the capacity of plants to absorb water which promotes better plant growth.Biostimulants products fill the gap between pesticides and bio-fertilizers, astheycan help the plant in both activities.Humic substances-based biostimulants are used to protect various crop plants against some environmental stresses. The increasing concerns over improving the crop yield per hectare, growing adoption of biostimulantsfor reducing the abiotic stress in plants and crops, and increasing precision farming techniques are some of the major factors driving the growth of the humic-based biostimulants market for the forecast period.

Moreover, the innovations in strengthening the product portfolio for broad-acre crops are increasing along with rising technological advancements in the global humic-based biostimulants market. The demand for biostimulants has increased in recent years, owing to the rising inclination towards organic farming to cater to the increasing demand for high-quality organic food. Biostimulant products are key solutions in the organic agriculture sector. This will further create new opportunities for the humic-based biostimulants market in the forecast period.

However, research and development for biostimulant manufacturing involve high costs. Additionally, the approval process of the product manufactured by using biostimulant manufacturingis very lengthy. The uncertainty in the regulatory framework of biostimulants is also increasing. These are some of the major reasons that can restrain the growth of the humic-based biostimulants market during the forecast period.

Market USP

Increased productivity and yields of crops.

Market Drivers

• Increasing inclination towards sustainable solutions:The demand for food is increasing as the population has been surging around the world. This creates enormous pressure to produce crops with a high-quality yield. Humic-based biostimulantshelp address this issue by providing protection against stress and thereby promoting the plant's growth. Consumers are increasingly inclining towards organic food, owing to the rising health consciousness among consumers and increasing consumer awareness about the health benefits provided by organic foods. Additionally, the growing implementation of organic regulations and adopting Global Good Agricultural Practices policies worldwide drive the market for humic-based biostimulants. Humic-based biostimulants help enhance the chemical,physicochemical,and biological properties of the soil.

Market Restraints

• Lack of awareness among farmers:Humic-based biostimulants have not been governed under any standard categorization yet across the world. At present, biostimulants do not have any specific category with a consistent global definition. For instance, they are considered plant strengtheners or growth enhancers in Germany, whereas they are considered additives in France. There is a lot of confusion and lack of awareness among farmers regarding the humic-based biostimulants; this can be restraining the growth of the humic-based biostimulants market.

Market Opportunities

• Growing organic production practices:Biostimulantsare a crucial factor for promoting organic practices in the future agricultural industry. Biostimulants help enhance the soil microflora, which, in turn, helps make the uptake of nutrients more efficient. The demand for organic food is increasing among consumers owing to the increasing consumer awareness about the health benefits offered by organic foods. Owing to this healthconsciousness among consumers around the globe,the inclination towards organic food is increasingfor avoiding adverse health effects caused by chemical preservatives or genetically modified ingredients of inorganic food. This creates significant opportunities for the growth of the global humic-based biostimulants marketduring the forecast period.

Market Challenges

• Uncertainregulatory framework:The regulatory framework for biostimulants is unclear across many regulatory bodies worldwide. Owing to this, many times,duplicate and counterfeit products have entered the market; this has led to a lack of transparency in patent protection laws in several countries, resulting in the prevalence of low-quality products; this can be a challenging factor for the growth of the global humic-based biostimulants market

Segmentation

By ProductType

• Humic Acid: Humic acid held the largest market share in the global humic-based biostimulants market for the product type segment. Humic acid helps in increasing the microbial activity in the soils, which in turn improves soil health. It also helps in the absorption of water, enabling the uptake of nutrients and fighting against various pests.The high concentration of humic acid helps in enhancingproductivity and yields.For instance, in crops such as potatoes, humic acid helps in increasing the tuber count and size of the crop. Moreover, humic acids helptransport the nutrients from soil to plant as they can preserve ionized nutrients that can be prevented from leaching away. Moreover, humic acid is easily available in the humic matter of soils.


• Fulvic Acid


• Potassium Humate

By Crop Type

• Fruits & Vegetables: The fruits& vegetables segmentaccounted for the largest market share in the global humic-based biostimulants market for the crop type segment. This segment is expected to retain its dominancethroughout the forecast perioddue to the high production of fruits and vegetables worldwide. Humic-based biostimulants help in improving the shelf life and early growth of the crops. The biostimulantsalso help in improving the crop quality by enhancing the color and size of the crops along with increasing the sugar content for fruits & vegetables.


• Cereals


• Oilseeds


• Fiber crops


• Others

By Form

• Dry:


• Liquid:Based on the form, the liquid segment holds the largest market share in the global humic-based biostimulants market. Liquid biostimulantsplay an important role in enhancing the water uptake and water balance of the plant, which helps fight the effects of heat and drought. Liquid biostimulantsare absorbed easily by the soil and help enhance the development of crops, provide root systems and better stems, and make the crop more susceptible to abiotic stress. With so many advantages, the biostimulant in liquid form is highly preferred.

By Mode of Application

• Foliar Treatment


• Soil Treatment: By mode of application, the soil treatmentsegmentaccounted for the largest market share in the global humic-based biostimulants market. The humic-based biostimulantshelp in increasing the soil humus. They are distributed uniformly in the soil up to a certain depth based on the type of soil and compaction. Many farmers are increasingly optimg for this method for enhancing soil health without hampering the beneficial organisms existing in the soil. The increasing improvement in farm productivity and enhancement of soil fertility will drive the demand for humic-based biostimulants in soil treatment.


• Seed Treatment

By Region

• North America:


• Europe:Europe accounted for the largest share in the global humic-based biostimulants market during the forecast period. The increasing importance of a sustainable agriculture approach among customers and the growing development of new innovative products targeting specific agronomic needs are some of the major factors driving the growth of the humic-based biostimulants market in the region. The strong agricultural sector of Europe makes it one of the leading consumers of humic-based biostimulants. The increasing need for high production yield, and quality parameters and increasing land degradation, strengthens the demand for engaging in clean and sustainable input solutions by the European regulatory authorities.


• Asia-Pacific: Asia-Pacificis expected to record the highest CAGR in the global  market during the forecast period. The agriculture industry in Asia-Pacific is witnessing effective transformationsowing to the various technological advancements happening in the region. The growing agricultural practices and rising demand for agricultural productscan meet international standards. Moreover, Asian countries, such asJapan, China,and India,are shifting toward sustainable agriculture. These are some of the factors expected to drive the growth of the humic-based biostimulants market in this region.


• Rest of the World

Competitive Landscape

Some of the key players operating in the global humic-based biostimulants market are FMC Corporation (UA), Bayer AG (Germany), Borregaard (Norway), ValagroSpA (Italy), Koppert Biological Systems (US), BiolchimSpA(Italy), Humic Growth Solutions (US), UPL Ltd (India), ADAMA Ltd (Israel), and Haifa Group (Israel). These players are expected to positively influence the global humic-based biostimulantsmarketgrowth during the forecast period.