Humic-based Biostimulants Market Size, Share and Forecast

Humic-based biostimulants market size was valued at USD 686 million in 2022 and is projected to reach USD 1,184 million by 2027, growing at a CAGR of 11.5% during the forecast period 2022-2027. The humic based biostimulants market has grown rapidly worldwide, and to meet the population’s requirements, industries and research have effectively incorporated various innovative products and ingredients. The demand from farmers and consumers for organic products that provide alternatives to synthetic inputs is also boosting the market’s growth. Humic substances are a rich energy source beneficial soil microorganisms can readily utilize. The key function of humic substances is their water-holding capacity. Humic substances reduce soil pH and liberate carbon dioxide. They also help stabilize soil temperature and water evaporation and facilitate the uptake of nutrients. The application of dry or liquid humic substances to soil increases the efficiency of fertilizers. In addition, applying these substances may reduce the requirement for fertilizers and retain the fertilizers applied near the plant rooting zone for a longer time.