Humic-based Biostimulants Market worth $848 million by 2025 - Exclusive Report by MarketsandMarkets
CHICAGO, Oct. 26, 2020 /PRNewswire/ -- According to the new market research report "Humic-based Biostimulants Market by Type (Humic Acid, Fulvic Acid, and Potassium Humate), Mode of Application (Foliar Treatment, Seed Treatment, and Soil Treatment), Formulation, Crop Application, and Region - Global Forecast to 2025", published by MarketsandMarkets, the Humic-based Biostimulants Market size is estimated to account for a value of USD 515 million in 2020 and projected to grow at a CAGR of 10.5% from 2020, to reach USD 848 million by 2025. Factors such as the rise in demand for products which enhance the crop productivity and increase in the adoption of sustainable solutions like organic farming to meet the consumers demand with changing lifestyle is projected to drive the growth of the humic-based biostimulants market.
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The humic acid segment is projected to be the largest segment in the humic-based biostimulants market during the forecast period.
Humic acid is usually applied to make nutrients and micronutrients readily available to the plants and increase the plant's resistance to stress. Due to its immense and cheap availability in countries like China and India, the demand for humic acids for plant growth is boosting. It can be combined with fertilizers for better results, which is practices in most countries.
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126 – Tables
48 – Figures
174 – Pages
The liquid segment is estimated to account for the largest market share, in terms of value, in 2020.
The liquid formulation is easy in handling and application; hence most of the farmers use liquid formulation. The application of liquid humic-based biostimulants enhances efficiency by distributing evenly on the required area. Therefore, manufacturers are also offering most biostimulant products in the liquid formulation as per the requirement.
The seed treatment segment is projected to witness the fastest growth in the humic-based biostimulants market, 2020 to 2025.
Seed treatment is the method that is mostly used by every farmer where the seeds are applied with pesticides to develop resistance in plants. Similarly, humic-based biostimulants can also be applied to the seeds before sowing, which will improve the uptake of nutrients and water retention capacity. It is not a very popular method presently, but in the coming years, it will gain more popularity because of the benefits associated with it.