Tilt to Bio-Fertilizers for Sustainable Agriculture to Grow the Humus Concentrates Market Beyond $6.67 Billion by 2032
More than 50% of the humus concentrate industry’s total revenues will remain concentrated in Europe and North America
Fact.MR’s latest report covers recent developments in the global humus concentrates market, focusing on key aspects such as drivers, trends, and restraints. Additionally, it provides insights on growth opportunities in various segments including form, function and end-use in six key regions.
NEW YORK, July 26, 2022 /PRNewswire/ — Global Humus Concentrates Market Size Reached US$4.23 billion in 2022 and is expected to grow at a CAGR of 4.6% between 2022 and 2032, exceeding a valuation of US$6.67 billion by 2032. Rising popularity of biofertilizers and growing need for safe and contaminant-free foods are some of the major factors driving the demand for humus concentrates in the market.
Humus concentrate is an ecological biofertilizer that improves soil fertility, retains soil moisture and promotes plant growth. It is composed of natural and organic components from the soil.
Over the years, the adoption of humus concentrate has enabled farmers to practice sustainable agriculture. This has enabled them to improve soil quality, increase the yield of agricultural production and comply with strict environmental regulations.
Rising concerns over food insecurity and the need for safe and contaminant-free foods will provide strong impetus for the growth of the humus concentrates market over the forecast period. Today, many farmers around the world use environmentally friendly fertilizers such as humus concentrate to improve the quality and quantity of food products.
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Furthermore, development of new products as well as introduction of awareness campaigns by humus concentrate manufacturers to educate farmers about the benefits will drive the growth of the humus concentrate market over the next decade.
At the regional level, Europe and North America, collectively, will account for over 50% of the humus concentrates market revenue share. The growth of these markets is driven by the rapid adoption of biofertilizers, the implementation of stringent regulations and the growing need to improve crop quality and quantity.
Key points to remember:
- By function, the growth promoters segment is expected to grow at a steady pace over the forecast period.
- Based on end use, the horticulture segment is expected to hold the largest share of the global humus concentrates market by 2032.
- With the rapid expansion of the horticultural industry, Europe is expected to account for the largest share of 28.6% of the global humus concentrates market in 2022.
- North America is likely to hold 22.3% global humus concentrates market share in 2022
- The market for humus concentrates in China is expected to reach a valuation of approximately $237.3 millionin 2022.
- The growing need to produce safe and contaminant-free crops is driving the demand for humus concentrates.
- The rising popularity of biofertilizers such as humus concentrate will continue to propel growth during the forecast period.
- Increased awareness of the benefits of humus concentrates is expected to drive sales over the next decade.
- Lack of availability of humus concentrates in low economy regions as well as low product awareness could limit growth
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Leading manufacturers of humus concentrates are constantly focusing on expanding their product portfolios by introducing new products in different forms. In addition to this, they have adopted various organic and inorganic strategies such as mergers, acquisitions, joint ventures, partnerships, and establishment of new facilities to gain a competitive edge in the market.
- In September 2021Grupa Azoty has launched a new humic acid unit in Tarnow with an annual capacity of 2500 tonnes of Tohumus (an organic mineral plant growth stimulator)
Top Companies Featured by Fact.MR
- Sustainable agriculture
- Organic approach
- Ohio Earth Food
- Nature’s Force Biological
- Agro-energy resources
- King Humus More
More Valuable Insights into the Humus Concentrate Market
In the latest study, Fact.MR provides a 360 degree view of the Global Humus Concentrates Market for the forecast period 2022 to 2032. The report also highlights key factors such as recent developments and drivers of growth that are influencing the Humus Concentrates market sales through detailed segmentation as follows:
- Powdered humus concentrate
- Humus Concentrate Granules
- Liquid humus concentrate
- Soil structure
- Drought resistant
- pH regulators
- Growth promoters
- Yield promoters
By end use:
- Soil remediation
- North America
- Latin America
- East Asia
- South Asia & Oceania
Key questions answered in the Humus Concentrate market report
- What will be the demand outlook for the humus concentrate market in 2022?
- What is the projected growth rate of the global humus concentrates market during the period 2022-2032?
- What are the key drivers driving the growth of the Humus Concentrate market?
- What factors are hindering the growth of the humus concentrates market?
- Which region is expected to show the fastest growth in the global humus concentrates market during the period 2022-2032?
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