At 11.1% CAGR, the North America Humic Acid Market is Projected to be Worth US$ 587.95 million by 2030, says The Business Market Insights

According to the Business Market Insights’ research, the North America humic acid market was valued at US$ 253.19 million in 2022 and is expected to reach US$ 587.95 million by 2030, registering a CAGR of 11.1% 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 North America humic acid market expansion.                     

According to the 2023 Organic Industry Survey conducted by the Organic Trade Association, organic food sales in the US in 2022 increased to US$ 67.6 billion in 2023 from US$ 63 billion in 2022.

Organic farming practices emphasize soil health and fertility. As a natural soil amendment, humic acid enhances soil structure, improves nutrient availability, and promotes microbial activity. It helps organic farmers maintain and improve soil fertility. Organic food production requires compliance with specific standards and regulations. Organic certifying bodies often require the use of approved inputs and practices, including organic soil amendments. Humic acid, derived from organic sources, fulfills the requirements for organic certification. In addition, humic acid has been shown to improve plant growth by facilitating root development and improving stress tolerance. Organic food producers prioritize plant health and natural disease resistance by minimizing synthetic pesticides and fertilizers. The use of humic acid in organic farming contributes to the production of food that is perceived as healthier and more environmentally friendly. Thus, the growing demand for organic food products would lead to new trends in the humic acid market in the coming years, as it is being projected as an essential component of organic farming practices.  

On the contrary, lack of standardization hurdles the growth of North America humic acid market.

Based on form, the North America humic acid market is segmented into dry and liquid. The dry segment held 69.8% share of North America humic acid market in 2022, amassing US$ 176.76 million. It is projected to garner US$ 416.11 million by 2030 to expand at 11.3% CAGR during 2022–2030.

Based on application, the North America humic acid market is segmented into agriculture, horticulture, ecological bioremediation, dietary supplements, and others. The agriculture segment held 54.1% share of North America humic acid market in 2022, amassing US$ 136.91 million. It is projected to garner US$ 304.60 million by 2030 to expand at 10.5% CAGR during 2022–2030.  

Based on country, the North America humic acid market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 74.0% share of North America humic acid market in 2022. It was assessed at US$ 187.47 million in 2022 and is likely to hit US$ 443.20 million by 2030, exhibiting a CAGR of 11.4% during 2022–2030.      

Key players operating in the North America humic acid market are Agricultural and Mining Development SA, Agriculture Solutions Inc, Black Earth Products Inc, Faust Bio-Agricultural Services Inc, Grow More Inc, Humic Growth Solutions Inc, Humintech GmbH, MYCSA Ag Inc, and The Andersons Inc, among others.   

• In Feb 2023, The Andersons, Inc. launched a new line of granular micronutrients branded MicroMark DG. These engineered plant nutrient products feature dispersing granule (DG) technology, resulting in homogenous spherical granules for easier blending, spreading, and, most importantly, increased efficacy. The company offers humic acid products under this category.  
• In July 2020, Black Earth Humic completed the acquisition of Canadian Humalite International. This acquisition allowed the company to diversify its product portfolio and to work on agriculture and applied humic innovations. After the acquisition, the company name was changed to “Black Earth Products Inc.”

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