Humins and humic acids are organic substances that are derived from the decomposition of plants and animals. They have various applications in agriculture, horticulture, ecological bioremediation, and dietary supplements. In this article, we will explore how the market of humins and humic acids is growing in Europe, what are the factors driving this growth, and what are the challenges and opportunities for the future.
Market Size and Growth Rate
- The European humic acid market size crossed USD 150 million in 2021 and is expected to exhibit a CAGR of around 11% between 2022 and 2028.
- The market demand is favored by the rising adoption in agriculture and medicine applications.
- Increasing consumption of organic fertilizers has been aiding product sales, as more customers are growing aware of the negative impact of chemical fertilizers on soil fertility as well as human health.
Application Segments
Agriculture
- Humic acid is a key ingredient for organic fertilizers. It enhances the soil quality, water retention, nutrient uptake, and plant growth. It also helps in reducing soil erosion, salinity, and acidity.
- In May 2022, Yara International, a global leader in crop nutrition, announced that it will collaborate with the European Organic-Based Fertilizer Industry Consortium (ECOFI) for promoting the use of organic fertilizers among farmers, dealers, and policy-makers alike.
- The European Green Deal will play a major role in establishing more sustainable farming practices with minimal environmental impact.
Ecological Bioremediation
- Humic acid is also used in ecological bioremediation, which is the process of using natural or engineered organisms to restore contaminated environments.
- Humic acid can stimulate the microbial activity and enhance the degradation of pollutants. It can also bind to heavy metals and reduce their toxicity.
- As several EU countries move toward circular bioeconomy, they have been promoting the use of seaweed-based products. Seaweed fertilizers are extensively used alongside humic acid for boosting plant growth in agriculture and horticulture industries.
Horticulture
- Horticulture is another application segment that will show tremendous growth through 2028, supported by favorable government schemes.
- Humic acid is widely used in greenhouse vegetables such as peppers, cucumbers, and tomatoes, which form a crucial part of European diet. Humic acid improves the quality, yield, and shelf life of these crops. It also helps in preventing diseases and pests.
- The EU has been supporting the development of innovative horticultural technologies and practices through various programs such as Horizon 2020 and EIP-AGRI.
Dietary Supplements
- Humic acid is also gaining popularity as a dietary supplement, especially in the health-conscious consumers.
- Humic acid has anti-inflammatory, antioxidant, antiviral, and immunomodulatory properties. It can help in improving digestion, metabolism, detoxification, and immunity. It can also prevent or treat various conditions such as arthritis, allergies, infections, ulcers, and cancer.
- The European humic acid market for dietary supplements is expected to grow at a CAGR of over 12% from 2022 to 2028.
Challenges and Opportunities
- The market of humins and humic acids also faces some challenges and limitations. One of them is the low market penetration in emerging economies. The lack of awareness, availability, affordability, and accessibility of these products hinders their adoption in regions such as Eastern Europe and Central Asia.
- Another challenge is the inconsistent quality of end-products. The humins and humic acids vary in their composition, structure, functionality, and efficacy depending on their source, extraction method, processing technique, and storage condition. This makes it difficult to standardize and regulate their quality and safety.
- Therefore, there is a need for more research and development to improve the production and utilization of humins and humic acids. There is also a need for more collaboration and communication among the stakeholders such as manufacturers, suppliers, distributors, consumers, researchers, regulators, and policymakers.
- The market of humins and humic acids offers immense opportunities for innovation and growth in Europe. By harnessing their potential benefits for various applications, they can contribute to a greener and healthier future for all.