Humic acid promotes improved and healthier growth of green grass, agricultural crops, and ornamentals, as well as an increase of up to 70% in yield and a decrease of up to 30% in the usage of fertilisers and pesticides. Agriculture, dietary supplements, horticulture, organic bioremediation, as well as other applications like home gardening, medications, etc. are all included in the market for humic acid. In addition, it is anticipated that the enormous demand for humic acid from lawn applications in the building sector and water purification domain will propel the worldwide Humic Acid Market during the course of the forecast year.
Rapid population growth around the world combined with shrinking arable land due to strong urbanisation and industrialization will increase the need for fertiliser in order to achieve high yield. For instance, the Food and Agriculture Organisation (FAO) of the United Nations predicted that in order to support future food consumption, cropland productivity must increase by around 15%. However, a significant restriction in the Humic Acid Market is the absence of globally recognised standard processes for determining the composition of humic products.
