Growing Demand for Sustainable Solutions to Drive the Growth of Humic-based Biostimulants Market

Posted on 2021-04-09 by MarketsandMarkets in Internet & Online // 0 Comments

The global humic-based biostimulants market is estimated to be valued at USD 515 million in 2020 and projected to reach USD 848 million, with a CAGR of 10.5% between 2020 and 2025. The growth of the humic-based biostimulants industry is driven by various factors, such as the enhancement in the crop productivity with improvement in the quality and quantity of the crops, demand for sustainable solutions to preserve the biodiversity and to achieve the export standards of the crop produce.

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To meet the increasing demand for food from over 9 billion people by 2050, there is an immense pressure exerted to produce crops with high-quality yield. Humic-based biostimulants can sustainably address this issue, by providing protection against stress and thereby stimulating the growth of the plant.

The market for biostimulants is projected to grow in the coming years due to the increasing consumer awareness about the benefits of organic foods, implementation of organic regulations, and adoption of GLOBALGAP (Global Good Agricultural Practices) policies. Humic-based biostimulants can play an essential role in improving the physicochemical, chemical, and biological properties of the soil.

The agriculture industry in Asia, particularly in the Southeast Asian countries, witness effective transformation due to various technological advancements. The increase in agricultural practices and demand for agricultural produce which can meet the international standards are the factors that are projected to drive the humic-based biostimulants market in this region. It has produced high-quality biostimulants and has patented various new bioactive molecules. Asian countries, such as China, Japan, southeast countries are shifting toawards sustainable agriculture. Hence, the demand for Humic-based biostimulants is high in the region.

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