Increasing demand for replacement of chemical pesticides by organic products is expected to drive Global Humic-based bio stimulants in the forecast period 2024-2028.
According to TechSci Research report, “Humic-based Bio Stimulants Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F”, the Global Humic-based bio stimulants is anticipated to grow at a steady rate in the forecast period 2024-2028. This can be ascribed to the growing demand of bio stimulants for the improvement of quality and yield of crop production even in adverse conditions.
The increased need for fertilizers, pesticides, bio stimulants, etc. to enhance soil properties for increasing crop yield, to obtain disease-free crops, and improve nutrient quality of produce even in stressful or abiotic conditions, is driving the growth of Humic-based Bio Stimulants market.
Pesticides, being effective in controlling pests and diseases, can have negative impacts on human health and the environment. Concerns about pesticide residues in food, water contamination, and potential health risks have led to a shift towards more sustainable and environmentally friendly agricultural practices. Humic biostimulants offer an alternative approach that reduces the need for chemical pesticides, thereby minimizing chemical exposure and associated risks.
Humic biostimulants have been found to enhance plant resistance against pests and diseases. They stimulate the production of natural defense mechanisms in plants, such as the synthesis of phytoalexins, antioxidants, and pathogenesis-related proteins. By boosting the plant’s own immune system, humic biostimulants help plants fend off pests and diseases more effectively, reducing the reliance on chemical pesticides.
Humic biostimulants are derived from natural sources and have minimal environmental impact compared to chemical pesticides. They are biodegradable, non-toxic, and pose fewer risks to beneficial insects, pollinators, and non-target organisms. The use of humic biostimulants aligns with sustainable agricultural practices and supports the preservation of biodiversity and ecosystem health.With the rising awareness about the advantages of having organic food consumption, there is an increase in demand for bio stimulants in the market. Additionally, with the introduction of regulatory bodies and rules for organic harvest and sustainable agricultural growth practices and policies, the Humic-based bio stimulants is expected to attribute a higher growth in the forecast period.
Moreover, consumer preferences for environmentally friendly and sustainable products have a significant influence on market trends. The promotion of bio-based stimulants as eco-friendly, natural, and sustainable products resonates with consumers seeking greener alternatives.
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Based on type, the market is segmented into Humic acid, Fulvic acid and Potassium Humate. The Humic acid is dominating the market in 2022 and is expected to lead in the forecast period. This can be attributed to the increase in demand of Humic acid due to its properties such as improving soil’s microbial activity, increasing nutrient uptake, water absorption, and increasing soil health.
Based on the application, the market is segmented into seed treatment, soil treatment and foliar spray. Foliar spray is dominating the market and anticipated towards growth in the forecast period on account of its easy availability and application method The foliar treatment is applied directly to the leaves and is absorbed through the epidermis and stomata. Therefore, these bio stimulants are majorly sold in liquid forms having active ingredients such as chelated nutrients, IPA molecules and glycine betaine, etc. used to provide faster and healthier plant growth.
Based on crop type, the market is segmented into cereals & grains, oil seeds & pulses, and fruits and vegetables. The Fruits & Vegetable segment is expected to dominate the market growth in the forecast period. This can be ascribed to the factors such as increased demand for fresh and nutrient rich quality fruits among the customers, along with the rising customer awareness for the growing demand of organic harvest and production of fruits & vegetables.
Major companies operating in the Global Humic-based Bio Stimulants are:
- UPL Ltd.
- FMC Corporation
- Bayer AG
- Valagro S.P.A
- Haifa Group
- SIKKO Industries Limited
- BORREGAARD
- Koppert Biological Systems
- Biolchim SPA
- NOVIHUM technologies Gmbh
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“Asia-Pacific is expected to dominate in the Global Humic-based Bio Stimulants during the forecast period on account of increasing need for crop production for the increasing population in the countries such as India, China, etc. Besides, increasing demand for organic pesticides such as bio stimulants and flourishing sustainable agriculture industries in the region are further expected to support the market growth in the region” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
Humic-based Bio Stimulants – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F, Segmented By Type (Humic Acid, Fulvic Acid, Potassium Humate), By Application (Seed Treatment, Soil Treatment, Foliar Spray), By Formulation (Liquid & Dry), By Crop Type (Cereals & Grains, Oil Seeds & Pulses, Fruits & Vegetables), By Region, and Competition”, has evaluated the future growth potential of Global Humic-based bio stimulants and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Humic-Based Bio stimulants market.
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