Potassium Humate Market Size & Share by Product Form (Liquid, Granular, Powder, Flakes); Application (Fertilizer, Soil Conditioners, Horticulture, Livestock Feed Additive, Medical & Dietary Supplements); Sales Channel (Direct Sales, Retailers, Online) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5705
  • Published Date: Feb 21, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024 -2036

Potassium Humate Market size is anticipated to reach USD 1 Billion by the end of 2036, growing at a CAGR of 3% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of potassium humate was USD 705 Million. The rising awareness of risks associated with chemical fertilizers such as soil degradation, water pollution, and negative impacts on human health, is driving the growth of the market. As per a report, by 2050, nearly 90% of Earth's soils may have deteriorated from their current state of 33% degradation. Potassium humate offers a sustainable alternative as it is derived from natural sources, promotes soil health, enhances nutrient uptake by plants, and reduces the need for chemical fertilizers, thus appealing to environmentally conscious consumers and agricultural practices.

Due to the growing global use of fertilizers, where it is anticipated that there will be a significant demand for fertilizers over the evaluation period. This potassium humate fertilizer, which is composed of humic and fulvic acid as well as raw humates (plant matter), is an incredibly effective solution for sustainable agriculture. It also helps to increase nitrogen efficiency, which makes it a possible urea supplement. Thus, the addition of these basic materials to humate fertilizer improves the soil's capacity to retain nutrients, thereby bolstering nutrient absorption.


Potassium Humate Market
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Potassium Humate Sector: Growth Drivers and Challenges

Growth Drivers

  • Growing Development of the Organic Food Industry – Growing organic food demand necessitates a move toward more ecologically friendly and sustainable farming methods. To maximize biodiversity, improve soil fertility, and reduce environmental impact, organic farming places a strong emphasis on the use of natural inputs and practices. As per a report, worldwide, organic agriculture is implemented in more than 186 nations. Also, sales of organic food increased 12.8% from 2019 to USD 47.86 billion in 2020. The market for organic produce is growing as customers become more aware of the effects that their food choices have on their health and the environment.
  • Increasing Population Globally - The market is expanding as a result of the expanding population globally. Growing per hectare land production capacity is required as a result of the world's declining agricultural land area and rising food product demand. As a result, pesticides and fertilizers are applied to the land that is being farmed. Soil conditioners are used to replenish the fertility that has been lost as a result of chemical use. This is anticipated to support soil conditioner sales, notably potassium humate, throughout the duration of the forecast. Furthermore, these factors are propelling the growth of the potassium humate market.
  • Growing Technological Advancements in Bio-stimulant Production – Technological developments enable the creation of more potent biostimulant compounds, such as potassium humate.  Growers and farmers benefit from increased efficacy in the products that are produced as a result. Through the exact distribution and administration of bio-stimulants made possible by advanced technologies, farmers can more successfully target certain crops, soil types, and growth stages.
  • Growing Use as a Pollution Detoxifying Agent - Potassium humate may absorb and bind to a variety of contaminants, such as heavy metals, herbicides, and organic pollutants, due to its high functional surface area and the presence of functional groups like carboxyl and phenolic groups. Additionally, potassium humate functions as a chelating agent by joining metal ions in the soil or water to form stable complexes. Because these complexes are more stable and less toxic, there is a lower chance that plants and microbes may be harmed by metals. Therefore, these factors are escalating the market growth.

Challenges

  • Inconsistent Quality of End-Products – Inconsistent quality may result in variations in the concentration of active ingredients and beneficial compounds in potassium humate products. This can lead to unpredictable performance and efficacy, making it difficult for farmers to achieve consistent results in terms of plant growth, yield, and quality. Therefore, this factor may impede the growth of the potassium humate market.
  • High Costs Compared to Other Fertilizers may Hinder Market Growth
  • Side Effects of the Chemical may Hinder the Market Growth

Potassium Humate Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~ 3%

Base Year Market Size (2023)

 ~ USD 705 Million

Forecast Year Market Size (2036)

 ~ USD 1 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Potassium Humate Segmentation

Application (Fertilizer, Soil Conditioners, Horticulture, Livestock Feed Additive, Medical & Dietary Supplements)

Soil conditioners segment for the potassium humate market is anticipated to grow with the largest revenue share of 46% during the projected period. The importance of soil health and its impact on crop productivity, sustainability, and environmental protection is becoming more widely known to farmers and agriculture professionals. In addition, more attention is being given to the use of soil conditioners to reduce soil erosion, nutrient runoff, and chemical leaching as concerns grow about environmental degradation and the need for sustainable farming practices. Moreover, a growing demand for organic and natural products has led to an increased interest in soil conditioners that promote organic farming practices as well as reducing reliance on synthetic chemicals. According to a report, the United States accounted for approximately 39% of global organic retail sales in 2021. The growth of the soil conditioner industry is also supported by government policies and incentives to promote land protection, sustainability as well as environmental farming. Therefore, these factors are propelling the growth of the segment.

Product Form (Liquid, Granular, Powder, Flakes)

Potassium humate market for the powder segment is poised to hold a revenue share of 44% during the forecast period. The powder potassium humate is easy to use and apply, making it convenient for large-scale agricultural activities as well as small-scale gardening. In addition, powdered potassium humate has a longer shelf life than liquid formulations, which makes it more suitable for storage and transport in regions with variable climatic conditions. Moreover, the development of powder potassium humates with improved solubility has been due to improvements in production processes. In addition, compared to liquid concentrates, powdered potassium humate often offers a more cost-effective solution. This affordability, which contributes to its growth in the market, enables it to reach a wider audience of farmers and gardeners.

Our in-depth analysis of the global market includes the following segments:

        Product Form

  • Liquid
  • Granular
  • Powder
  • Flakes

          Application

  • Fertilizer
  • Soil Conditioners
  • Horticulture
  • Livestock Feed Additive
  • Medical & Dietary Supplements

          Sales Channel

  • Direct Sales
  • Retailers
  • Online

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Potassium Humate Industry - Regional Synopsis

APAC Market Forecast

Potassium Humate Market in Asia Pacific is poised to account for the largest share of 36% by the end of 2036. The region caters to global demand for agricultural products and is counted as one of the leading regions in producing many agricultural products like cotton, jute, pulses, spices, wheat, sugarcane, and various other agricultural-based products. For instance, India, with around USD 2.1 billion of wheat exports in 2022, is the largest wheat exporter in the Asia Pacific region. Also, the demand for potassium humate is growing rapidly. The demand for food products in the region is enormous as a result of this huge population. As a result of the leniency granted by government regulations towards production and shifting consumer base to eco-friendly and organic products, many Chinese manufacturers are prioritizing expansion in China.

North American Market Statistics

North American potassium humate market is expected to hold a share of 27% during the forecast period. This is mainly due to its well-known agricultural sector, extensive use of soil conditioners such as potassium humate, and a strong emphasis on environmentally responsible farming practices. Demand for potassium humate is growing due to concerns about soil health and adverse effects on the environment of agricultural operations. Also, growing awareness about the benefits of potassium humate in improving solid fertility, enhancing nutrient uptake, and promoting plant growth.

Research Nester
Potassium Humate Market Size
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Companies Dominating the Potassium Humate Landscape

top-features-companies
    • ICL
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Locus AG
    • BASF AG
    • Solvay SA
    • UPL India
    • Syngenta
    • Croda International PLC
    • Bayer Crop Science
    • Eastman Chemical Company
    • Evonik Industries AG

In-the-news

In The News

  • June 2023 - Leading worldwide specialty minerals firm ICL announced the North American debut of a new range of cutting-edge foliar and fertigation solutions under their water-soluble Nova brand of fertilizers. Nova FINISHTM, Nova PULSETM, Nova ELEVATETM, and Nova FLOWTM are flagship products.
  • June 2021 - PantegoTM is a next-generation soil probiotic technology that will be available to farmers looking for ways to increase on-farm sustainability and profitability starting in the 2021 growing season. With the potential to boost on-farm return on investment by two or three times, Locus Agricultural Solutions® (Locus AG) created the line of non-GMO microbial soil supplements to offer industry-leading agronomic and environmental benefits. Pantego unlocks phosphorus-mobilizing properties that are critical for crops and offers increased flexibility for application in soils with lower temperatures.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 5705
  • Published Date: Feb 21, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Growing development of the organic food industry, increasing population globally, growing technological advancements in bio-stimulant production, and growing use as a pollution detoxifying agent are the major factors driving the growth of the potassium humate market.

The market size of potassium humate is anticipated to attain a CAGR of 3% over the forecast period, i.e., 2024-2036.

The major players in the market are ICL, Locus AG, BASF AG, Solvay SA, UPL India, Syngenta, Croda International PLC, Bayer Crop Science, Eastman Chemical Company, Evonik Industries AG, and others.

The soil conditioners segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Potassium Humate Market Report Scope
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