At 10.0% CAGR, the South & Central America Humic Acid Market is Projected to be Worth US$ 215.70 million by 2030, says The Business Market Insights

According to the Business Market Insights’ research, the South & Central America humic acid market was valued at US$ 100.45 million in 2022 and is expected to reach US$ 215.70 million by 2030, registering a CAGR of 10.0% 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 South & Central America humic acid market expansion.                     

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 South & Central America humic acid market.

Based on form, the South & Central America humic acid market is segmented into dry and liquid. The dry segment held 77.5% share of South & Central America humic acid market in 2022, amassing US$ 77.86 million. It is projected to garner US$ 169.12 million by 2030 to expand at 10.2% CAGR during 2022–2030.

Based on application, the South & Central America humic acid market is segmented into agriculture, horticulture, ecological bioremediation, dietary supplements, and others. The agriculture segment held 68.1% share of South & Central America humic acid market in 2022, amassing US$ 68.45 million. It is projected to garner US$ 143.17 million by 2030 to expand at 9.7% CAGR during 2022–2030.  

Based on country, the South & Central America humic acid market has been categorized into Brazil, Argentina, and the Rest of South & Central America.  Our regional analysis states that Brazil captured 47.6% share of South & Central America humic acid market in 2022. It was assessed at US$ 47.78 million in 2022 and is likely to hit US$ 106.43 million by 2030, exhibiting a CAGR of 10.5% during 2022–2030.      

Key players operating in the South & Central America humic acid market are Agricultural and Mining Development SA, Humic Growth Solutions Inc, Humintech GmbH, The Andersons Inc, MYCSA Ag Inc, and Grow More Inc, among others.   

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