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.
Growth Drivers
Challenges
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 |
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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 |
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Application |
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Sales Channel |
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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.
Author Credits: Smruti Ranjan, Rajrani Baghel
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