September 13, 2021
According to the research report titled ‘Europe Humic Acid Market Forecast 2027 By Application, Research Report, Country Outlook, COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with Market Study Report, Europe humic acid market is slated to record a strong compound annual growth rate through 2027, reaching USD 306 million valuation by the end of forecast duration.
Rising cognizance of the harmful effects of chemical fertilizers on the overall crop and human health among the farmers is a major factor driving Europe humic acid market growth. With organic farming gaining momentum, humic acid is likely to witness increased application in agriculture. Governments across Europe are introducing initiatives to support and promote organic farming, thereby propelling the demand for humic acid.
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For the record, humic acid is a compound used in organic fertilizers and is extremely beneficial for the overall growth and development of plants. Organic fertilizers are made from natural products and are free from any chemicals. When humic acid is added to these fertilizers, it significantly changes the health and quality of the crops produced. It increases the metabolism of plants and improves the root growth as well. Crops are protected from intense environmental conditions, thereby keeping them healthy for a longer period. It also helps increase the penetration of water in the soil.
Speaking of the negatives, the Covid-19 pandemic affected the sales of humic acid across Europe due to the movement restrictions and lockdowns. In addition, import and export of various products had plunged, hindering the market progression in the recent past.
Considering the application ambit, Europe humic acid industry is segmented into agriculture, horticulture, ecological bioremediation, dietary supplements, and others. Among these, dietary supplements segment is likely to expand at 11.5% CAGR through 2027, owing to presence of many essential nutrients like electrolytes, fatty acids, trace minerals, silica, prebiotics, and probiotics. Supplements rich in humic acid offer numerous health benefits like improved digestion, better assimilation of nutrients in the body, enhanced immunity system, and damaged skin repairing & rejuvenation.
Prominent players influencing Europe humic acid industry trends are Jiloca Industrial S.A., Wilbur-Ellis Company LLC, Manidharma Biotech Pvt. Ltd., Winfield Solutions LLC, Grow More Inc., Tagrow Co. Ltd., Sikko Industries Ltd., Nutri-Tech Solutions Pty. Ltd., Humic Growth Solutions Inc., Humintech GmbH, Biolchim S.p.A, and The Andersons Inc.