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Asia Pacific Humic Acid Market Forecast to 2030 - Regional Analysis - by Form (Dry, and Liquid) and Application (Agriculture, Horticulture, Ecological Bioremediation, Dietary Supplements, and Others)
Market Report I 2023-12-04 I 78 Pages I The Insight Partners
The Asia Pacific humic acid market is expected to grow from US$ 318.63 million in 2022 to US$ 780.42 million by 2030. It is estimated to grow at a CAGR of 11.8% from 2022 to 2030.
Rising Demand for Natural Feed Additives Fuels Asia Pacific Humic Acid Market
There is a growing consumer preference for natural and organic food products, including meat, dairy, and eggs. This shift is driven by concerns about synthetic additives, antibiotics, and hormones in animal feed and their potential impact on human health. Humic acid, being a natural compound derived from organic matter, matches the requirements of consumers seeking natural and organic food products. It helps improve animal digestion and nutrient absorption, leading to better feed conversion and growth rates. It also enhances immune function and reduces the risk of infections in livestock, promoting overall animal health and well-being. As animal farmers aim to optimize productivity while maintaining animal welfare, the demand for feed additives such as humic acid increases. According to the article Humic Substances as a Feed Supplement and the Benefits of Produced Chicken Meat, published by MDPI AG, humic acid enhances the digestibility of animals, absorption of nutrients, and the overall health of the gastrointestinal tract. Furthermore, gut microbiota plays a vital role in animal health and nutrient utilization. Humic acid has been shown to positively influence gut microbiota by promoting the growth of beneficial bacteria and inhibiting the reproduction of harmful pathogens. This helps maintain a healthy gut environment and can improve feed efficiency and animal performance.
In recent years, the livestock industry in various countries has expanded rapidly with a shift in consumers' diet preferences toward animal proteins. Poultry is perceived as a cost-effective protein source. Population growth, income surge, elevating living standards, and urbanization have been the key factors propelling the demand for meat worldwide. The increasing demand for meat products highlights the need for animal feed and feed additives. China is the world's largest producer of livestock products and animal feed. Further, Thus, the rising demand for natural animal feed products in different parts of the world is expected to bolster the humic acid market in the coming years.
Asia Pacific Humic Acid Market Overview
The Asia Pacific humic acid market is segmented into India, China, Japan, Australia, South Korea, and the Rest of Asia Pacific. The rising population of countries such as China and India subsequently increase the food demand in the region. Rising food demand and declining agricultural fields propel the need for strong fertilizers to improve crop productivity. Also, the emerging trend of using organic fertilizers to improve crop productivity by complying with environmental regulations to attend to sustainability is expected to boost the demand for humic acid products over the coming years.
The governments of Asian countries are encouraging farmers to adopt sustainable agricultural practices by providing incentives and investing in research and development. Japan has set a goal to reduce chemical fertilizer and pesticide usage by 30% and 50%, respectively, by 2050. Similarly, Government of India is promoting biofertilizers through various schemes such as National Mission for Sustainable Agriculture (NMSA)/Paramparagat Krishi Vikas Yojana (PKVY), Rashtriya Krishi Vikas Yojana (RKVY), National Mission on Oilseeds and Oil Palm (NMOOP), National Food Security Mission (NFSM), and Indian Council of Agricultural Sciences (ICAR). Such government initiatives in Asia Pacific drive the humic acid market growth in the region.
Asia Pacific Humic Acid Market Revenue and Forecast to 2030 (US$ Million)
Asia Pacific Humic Acid Market Segmentation
The Asia Pacific humic acid market is segmented into form, application, and country.
Based on form, the Asia Pacific humic acid market is segmented into dry and liquid. The dry segment held a larger Asia Pacific humic acid market share in 2022.
Based on application, the Asia Pacific humic acid market is segmented into agriculture, horticulture, ecological bioremediation, dietary supplements, and others. The agriculture segment held the largest Asia Pacific humic acid market share in 2022.
Based on country, the Asia Pacific humic acid market has been categorized into India, China, Japan, Australia, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific humic acid market in 2022.
Agbest Technology Co Ltd, Agricultural and Mining Development SA, Grow More Inc, Humic Growth Solutions Inc, Humintech GmbH, and MYCSA Ag Inc. are some of the leading companies operating in the humic acid market in the region.
TABLE OF CONTENTS
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Humic Acid Market Landscape
4.1 Overview
4.2 Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 List of Raw Material Manufacturers
5. Asia Pacific Humic Acid Market - Key Industry Dynamics
5.1 Market Drivers
5.1.1 Increasing Use of Humic Acid for Agricultural Yield Improvement
5.1.2 Expansion of Humic Acid Applications
5.2 Market Restraints
5.2.1 Lack of Standardization
5.3 Opportunities
5.3.1 Rising Demand for Natural Feed Additives
5.4 Future Trends
5.4.1 Growing Demand for Organic Food Products
5.5 Impact of Drivers and Restraints:
6. Humic Acid Market - Asia Pacific Market Analysis
6.1 Asia Pacific Humic Acid Market Revenue (US$ Million), 2022 - 2030
6.2 Asia Pacific Humic Acid Market Forecast and Analysis
7. Asia Pacific Humic Acid Market Analysis - Form
7.1 Dry
7.1.1 Overview
7.1.2 Dry: Asia Pacific Humic Acid Market Volume, Revenue and Forecast to 2030 (Kilo Tons) (US$ Million)
7.2 Liquid
7.2.1 Overview
7.2.2 Liquid: Humic Acid Market Volume, Revenue and Forecast to 2030 (Kilo Tons) (US$ Million)
8. Asia Pacific Humic Acid Market Analysis - Application
8.1 Agriculture
8.1.1 Overview
8.1.2 Agriculture: Asia Pacific Humic Acid Market Revenue and Forecast to 2030 (US$ Million)
8.2 Horticulture
8.2.1 Overview
8.2.2 Horticulture: Asia Pacific Humic Acid Market Revenue and Forecast to 2030 (US$ Million)
8.3 Ecological Bioremediation
8.3.1 Overview
8.3.2 Ecological Bioremediation: Asia Pacific Humic Acid Market Revenue and Forecast to 2030 (US$ Million)
8.4 Dietary Supplements
8.4.1 Overview
8.4.2 Dietary Supplements: Asia Pacific Humic Acid Market Revenue and Forecast to 2030 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Asia Pacific Humic Acid Market Volume, Revenue and Forecast to 2030 (Kilo Tons) (US$ Million)
9. Asia Pacific Humic Acid Market - Country Analysis
9.1 Asia Pacific
9.1.1 Overview
9.1.2 Asia Pacific Humic Acid Market Breakdown by Country
9.1.2.1 Humic acid market Breakdown by Country
9.1.2.2 Australia : Humic Acid Market Volume and Forecasts To 2030 (Kilo Tons)
9.1.2.3 Australia: Humic Acid Market Revenue and Forecasts To 2030 (US$ Million)
9.1.2.3.1 Australia: Humic Acid Market Breakdown by Form
9.1.2.3.2 Australia: Humic Acid Market Breakdown by Form
9.1.2.3.3 Australia: Humic Acid Market Breakdown by Application
9.1.2.4 China: Humic Acid Market Volume and Forecasts To 2030 (Kilo Tons)
9.1.2.5 China: Humic Acid Market Revenue and Forecasts To 2030 (US$ Million)
9.1.2.5.1 China: Humic Acid Market Breakdown by Form
9.1.2.5.2 China: Humic Acid Market Breakdown by Form
9.1.2.5.3 China: Humic Acid Market Breakdown by Application
9.1.2.6 India: Humic Acid Market Volume and Forecasts To 2030 (Kilo Tons)
9.1.2.7 India: Humic Acid Market Revenue and Forecasts To 2030 (US$ Million)
9.1.2.7.1 India: Humic Acid Market Breakdown by Form
9.1.2.7.2 India: Humic Acid Market Breakdown by Form
9.1.2.7.3 India: Humic Acid Market Breakdown by Application
9.1.2.8 Japan : Humic Acid Market Volume and Forecasts To 2030 (Kilo Tons)
9.1.2.9 Japan: Humic Acid Market Revenue and Forecasts To 2030 (US$ Million)
9.1.2.9.1 Japan: Humic Acid Market Breakdown by Form
9.1.2.9.2 Japan: Humic Acid Market Breakdown by Form
9.1.2.9.3 Japan: Humic Acid Market Breakdown by Application
9.1.2.10 South Korea : Humic Acid Market Volume and Forecasts To 2030 (Kilo Tons)
9.1.2.11 South Korea : Humic Acid Market Revenue and Forecasts To 2030 (US$ Million)
9.1.2.11.1 South Korea : Humic Acid Market Breakdown by Form
9.1.2.11.2 South Korea : Humic Acid Market Breakdown by Form
9.1.2.11.3 South Korea : Humic Acid Market Breakdown by Application
9.1.2.12 Rest of Asia Pacific : Humic Acid Market Volume and Forecasts To 2030 (Kilo Tons)
9.1.2.13 Rest of Asia Pacific : Humic Acid Market Revenue and Forecasts To 2030 (US$ Million)
9.1.2.13.1 Rest of Asia Pacific : Humic Acid Market Breakdown by Form
9.1.2.13.2 Rest of Asia Pacific : Humic Acid Market Breakdown by Form
9.1.2.13.3 Rest of Asia Pacific : Humic Acid Market Breakdown by Application
10. Competitive Landscape
10.1 Heat Map Analysis By Key Players
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
11.4 Merger and Acquisition
12. Company Profiles
12.1 Agbest Technology Co Ltd
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Agricultural and Mining Development SA
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Humic Growth Solutions Inc
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Humintech GmbH
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 MYCSA Ag Inc
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Grow More Inc
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
13. Appendix
LIST OF TABLES
Table 1. Asia Pacific Humic Acid Market Segmentation
Table 2. List of Raw Material Manufacturers in India
Table 3. List of Raw Material Manufacturers in Australia
Table 4. Asia Pacific Humic Acid Market Volume and Forecasts To 2030 (Kilo Tons)
Table 5. Asia Pacific Humic Acid Market Revenue and Forecasts To 2030 (US$ Million)
Table 6. Australia: Humic Acid Market Volume and Forecasts To 2030 (Kilo Tons) - Form
Table 7. Australia: Humic Acid Market Revenue and Forecasts To 2030 (US$ Million) - Form
Table 8. Australia: Humic Acid Market Revenue and Forecasts To 2030 (US$ Million) - By Application
Table 9. China: Humic Acid Market Volume and Forecasts To 2030 (Kilo Tons) - Form
Table 10. China: Humic Acid Market Revenue and Forecasts To 2030 (US$ Million) - Form
Table 11. China: Humic Acid Market Revenue and Forecasts To 2030 (US$ Million) - By Application
Table 12. India: Humic Acid Market Volume and Forecasts To 2030 (Kilo Tons) - Form
Table 13. India: Humic Acid Market Revenue and Forecasts To 2030 (US$ Million) - Form
Table 14. India: Humic Acid Market Revenue and Forecasts To 2030 (US$ Million) - By Application
Table 15. Japan: Humic Acid Market Volume and Forecasts To 2030 (Kilo Tons) - Form
Table 16. Japan: Humic Acid Market Revenue and Forecasts To 2030 (US$ Million) - Form
Table 17. Japan: Humic Acid Market Revenue and Forecasts To 2030 (US$ Million) - By Application
Table 18. South Korea : Humic Acid Market Volume and Forecasts To 2030 (Kilo Tons) - Form
Table 19. South Korea : Humic Acid Market Revenue and Forecasts To 2030 (US$ Million) - Form
Table 20. South Korea : Humic Acid Market Revenue and Forecasts To 2030 (US$ Million) - By Application
Table 21. Rest of Asia Pacific : Humic Acid Market Volume and Forecasts To 2030 (Kilo Tons) - Form
Table 22. Rest of Asia Pacific : Humic Acid Market Revenue and Forecasts To 2030 (US$ Million) - Form
Table 23. Rest of Asia Pacific : Humic Acid Market Revenue and Forecasts To 2030 (US$ Million) - By Application
LIST OF FIGURES
Figure 1. Asia Pacific Humic Acid Market Segmentation, By country
Figure 2. Porter's Five Forces Analysis
Figure 3. Ecosystem: Asia Pacific Humic Acid Market
Figure 4. Asia Pacific Humic Acid Market - Key Industry Dynamics
Figure 5. Impact Analysis of Drivers and Restraints
Figure 6. Asia Pacific Humic Acid Market Revenue (US$ Million), 2022 - 2030
Figure 7. Asia Pacific Humic Acid Market Share (%) - Form, 2022 and 2030
Figure 8. Dry: Asia Pacific Humic Acid Market Revenue and Forecasts To 2030 (Kilo Tons)
Figure 9. Dry: Asia Pacific Humic Acid Market Revenue and Forecasts To 2030 (US$ Million)
Figure 10. Liquid: Humic Acid Market Revenue and Forecasts To 2030 (Kilo Tons)
Figure 11. Liquid: Humic Acid Market Revenue and Forecasts To 2030 (US$ Million)
Figure 12. Asia Pacific Humic Acid Market Share (%) - Form, 2022 and 2030
Figure 13. Agriculture: Asia Pacific Humic Acid Market Revenue and Forecasts To 2030 (US$ Million)
Figure 14. Horticulture: Asia Pacific Humic Acid Market Revenue and Forecasts To 2030 (US$ Million)
Figure 15. Ecological Bioremediation: Asia Pacific Humic Acid Market Revenue and Forecasts To 2030 (US$ Million)
Figure 16. Dietary Supplements: Asia Pacific Humic Acid Market Revenue and Forecasts To 2030 (US$ Million)
Figure 17. Others: Asia Pacific Humic acid Market Revenue and Forecasts To 2030 (US$ Million)
Figure 18. Asia Pacific Humic Acid Market Breakdown Revenue, By Key Countries, (2022) (US$ Million)
Figure 19. Asia Pacific Humic Acid Market Breakdown By Key Countries, 2022 And 2030 (%)
Figure 20. Australia : Humic Acid Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 21. Australia : Humic Acid Market Revenue and Forecasts To 2030 (US$ Million)
Figure 22. China: Humic Acid Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 23. China: Humic Acid Market Revenue and Forecasts To 2030 (US$ Million)
Figure 24. India: Humic Acid Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 25. India: Humic Acid Market Revenue and Forecasts To 2030 (US$ Million)
Figure 26. Japan: Humic Acid Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 27. Japan: Humic Acid Market Revenue and Forecasts To 2030 (US$ Million)
Figure 28. South Korea : Humic Acid Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 29. South Korea : Humic Acid Market Revenue and Forecasts To 2030 (US$ Million)
Figure 30. Rest of Asia Pacific : Humic Acid Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 31. Rest of Asia Pacific : Humic Acid Market Revenue and Forecasts To 2030 (US$ Million)
Figure 32. Company Positioning & Concentration
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