The changing face of global agriculture and its impact on the demand for humic acid
With rising consciousness pertaining to consuming healthy food, the need for organic food products is tremendously expanding. In this context, humic acid market has seen remarkable growth proceeds over the recent years. Humic substances play an essential role in building a nutritious soil system which significantly contribute towards development of more resilient plants. What has prompted the explicit use of these substances in fruit, vegetable, and crop production is a decrease in agricultural land worldwide.
Considering this reduction, crop management has become a necessity today owing to the growing demand for crop yields in order to feed an ever-increasing population. Over exploitation of arable lands has led to degradation and depletion of soil nutrients and fertility. However, use of humic acid across this land tends to enhance its water retention properties along with the soil texture, thereby improving the complete soil productivity. Mounting cognizance amongst agriculturists and farmers to maintain and augment the quality of soil for obtaining high agricultural output would substantially bring about a revolution in humic acid market in the upcoming years.
To meet the requirement of a consistently growing population, agricultural demand, by 2050, may increase by nearly 50 per cent as compared to 2013, as reported by Food and Agriculture Organization report. Additionally, it has been apprehended that worldwide food demand is anticipated to rise anywhere between 59 to 98 per cent by the end of 2050. Therefore, to suffice this, farmers are turning towards sustainable farming techniques and methods which would potentially enhance their production capabilities.
The everincreasing population, soil quality degradation, and dearth of food are thus emerging as fundamental factors augmenting the global demand for humic acid. The industry outlook is also witnessing a transformation on account of ongoing trend for organic products. According to Organic Trade Association, organic sales in the United States hit an appreciable USD 52.5 billion mark in 2019.
With this increasing demand of organic products in U.S. and Canada, North America region is projected to stand tall in humic acid market in the near future. Reports suggest that over 30 per cent of homes across the U.S. make use of organic food products due to rising awareness and high economic affluence of the residents. It is prudent to mention that North America, additionally, also houses the presence of one of the most prominent humic acid providers – Black Earth Humic.
Black Earth Humic has its root in Canada and is extensively involved in offering highest quality humic material in whole of North America. Its bio stimulants are expected to yield high profits for farm workers as they strive on improving soil conditions. Black Earth in 2016, also announced a strategic partnership with Top Krop Fertilizers to support farmers’ pledge to grow healthy crops.
Not only North America, but Asia Pacific is also rendering significant results from growing organic industry and exponentially increasing demand for humic acid products.
Apart from agricultural sector that is leveraging high end benefits of humic acid, the product also finds widespread applications in horticulture, dietary supplements, vertical farms, medicines, residential gardening, and many others. Considering various health benefits of humic acid, the dietary supplements sector is estimated to amass noteworthy gains over the upcoming years. Humic acid products help in detoxification of human body and also boost the immune system.
Despite the fact that humic acid is a useful resource for future agriculture, it carries some unwanted disadvantages for the human body. Humic and fulvic acids when present in treated drinking water, react with chemicals used in chlorination process just to form disinfection byproducts that are proven to be toxic for health.
That said, several industry conglomerates are looking onto the matter and are currently devising strategies to help reduce humic acid’s effect on human health. As companies work toward minimizing the restraints associated with humic acid market, the industry is likely to register substantial gains in the ensuing years.
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