North America Humic Acid Market Analysis

North America Humic Acid Market Analysis

The fertilizer segment was valued at over USD 230 million in 2020 and is expected to reach over $500 million by 2027. Humic acid fertilizers are primarily utilized for environmental protection, increasing agricultural production, and soil remediation. Increasing applications of humic acid fertilizers will optimize the soil structure and increase the utilization rate of fertilizers. Humic acid fertilizers promote the growth of various crops, which drive the yield and generate additional income.
 

Moreover, humics acid fertilizers also help in fixing heavy metals and degrading organic pollutants. Humic acid fertilizers improve the physical properties of the soil and also the ability of the soil to regulate fertilizers, air heat & water. The hydroxyl group and the carboxyl group present in humic acid fertilizers undergo a polymerization reaction with the calcium present in the soil. This reaction reduces soil bulk density, thus increasing the porosity that helps in upgrading the soil structure.
 

The row crop segment was valued at over USD 160 million in 2020 and is anticipated to cross over USD 350 million by the end of the forecast period. As row crops are planted in rows, they are usually wide enough to be tilled or cultivated by various agricultural machinery or by machinery that are tailored for seasonal activities. Various examples of row crops are dry beans, cotton, sugar beets, sunflower, buckwheat, potato, maize, etc. Growing consumption of such crops will drive the market for row crops, which will have a positive impact on the North America humic acid market revenue during the anticipated period.
 

The U.S. humic acid industry will exceed USD 450 million by 2027 owing to the increasing product applications in the agriculture sector to boost the overall yield without harming soil fertility. The presence of stringent regulations in the country and the growing adoption of sustainable farming techniques are some of the major factors attributing to this market growth. In addition, stringent regulations imposed by the U.S. government and regulatory authorities against the use of chemical fertilizers to promote sustainability are resulting in the replacement of conventional fertilizers with organic fertilizers.
 

Furthermore, the prevailing demand for dietary supplements in the country will have a positive influence on the overall humic acid market share during the forecast period. Humic acid has a very vast scope in different applications, which include landfill closures, erosion control, sand dunes, horticulture, agricultural, golf courses, etc. The majority of U.S. exports revolves around soybeans, corn, livestock, horticultural products, grains, etc. The country has established itself as a dominant player in corn production with over 13 billion bushels of corn being produced annually.