At 11.8% CAGR, the Asia Pacific Humic Acid Market is Projected to be Worth US$ 780.42 million by 2030, says The Business Market Insights

According to the Business Market Insights’ research, the Asia Pacific humic acid market was valued at US$ 318.63 million in 2022 and is expected to reach US$ 780.42 million by 2030, registering a CAGR of 11.8% from 2022 to 2030. Increasing use of humic acid for agricultural yield improvement and expansion of humic acid applications are the critical factors attributed to the Asia Pacific humic acid market expansion.                      

Humic acid, a component of humus (organic matter in soil), has traditionally been recognized for its significant role in agriculture and soil fertility. However, its use has extended beyond agriculture, and it has found applications in various non-agricultural sectors. Humic acid has shown promising application in environmental remediation efforts. It is used to treat contaminated soil, groundwater, and surface water by enhancing removal of pollutants such as heavy metals, pesticides, and organic compounds. In addition, humic acid can be employed in water treatment processes to improve water quality. It aids in the removal of impurities, including heavy metals, organic pollutants, and suspended solids.

Humic acid can act as a coagulant or flocculant in water. It can facilitate bioremediation, which involves the use of microorganisms to degrade or transform pollutants. It acts as a natural chelator, enhancing the bioavailability of contaminants and promoting microbial activity for the degradation of various pollutants. Humic acid and its derivatives have demonstrated pharmaceutical applications. They have been studied for their antimicrobial properties and use as drug delivery systems, and for potential therapeutic effects in various medical conditions. Humic acid is also being explored for its use in cosmetics and personal care products due to its moisturizing, antioxidant, and anti-aging properties; it is used in formulations such as creams, lotions, and hair care products. Thus, the demand for humic acid is increasing due to its versatility, environmental benefits, and role in environmental remediation.

On the contrary, lack of standardization hurdles the growth of Asia Pacific humic acid market.

Based on form, the Asia Pacific humic acid market is segmented into dry and liquid. The dry segment held 65.9% share of Asia Pacific humic acid market in 2022, amassing US$ 210.05 million. It is projected to garner US$ 521.11 million by 2030 to expand at 12.0% CAGR during 2022–2030.

Based on application, the Asia Pacific humic acid market is segmented into agriculture, horticulture, ecological bioremediation, dietary supplements, and others. The agriculture segment held 59.5% share of Asia Pacific humic acid market in 2022, amassing US$ 189.48 million. It is projected to garner US$ 452.56 million by 2030 to expand at 11.5% CAGR during 2022–2030.  

Based on country, the Asia Pacific humic acid market has been categorized into India, China, Japan, Australia, South Korea, and the Rest of Asia Pacific.  Our regional analysis states that China captured 46.4% share of Asia Pacific humic acid market in 2022. It was assessed at US$ 147.75 million in 2022 and is likely to hit US$ 371.87 million by 2030, exhibiting a CAGR of 12.2% during 2022–2030.      

Key players operating in the Asia Pacific humic acid market are Agbest Technology Co Ltd, Agricultural and Mining Development SA, Grow More Inc, Humic Growth Solutions Inc, Humintech GmbH, and MYCSA Ag Inc, among others.   

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com