As per the report titled ‘North America Humic Acid Market Size, Share and Industry Analysis Report by Use (Bio-Stimulant, Fertilizer) and Crop (Row Crops {Soybean, Corn, Wheat}, Specialty Crops {Vegetables, Fruits, Tree Nuts), Country Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 - 2027’, available with MarketStudyReport, North America humic acid market is anticipated to register a healthy growth rate during the forecast period 2021-2027.

Experts cite that escalating demand for sustainable agriculture practices, developing awareness about the harmful impact of chemical fertilizers, and booming organic food industry are fostering the development of humic acid market in North America. However, inconsistent quality of end products may hinder the industry’s progress in the forthcoming years.

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For the uninitiated, humic acid is a highly efficacious means that leverages natural biologically active substances to boost plant growth and quality while simultaneously re-mineralizing soil.

Under row crop segmentation, soybean sub-segment amassed a valuation of USD 45 million in 2020 and is anticipated to cross USD 100 million by the end of 2028, creditable to mounting demand for soybean around the world and subsequent rise in soybean exports.

The corn sub-segment garnered USD 50 million valuation in 2020 and is anticipated to progress at 11% CAGR to reach USD 120 million by the year 2027. Rising corn consumption together with widespread production of processed corn products is fueling the segmental growth.

The wheat sub-segment attained a value of USD 30 million in 2020 and is anticipated to touch USD 65 million by the forecast period-end, mainly due to extensive use of humic acid in wheat production.

Moving to specialty crops segmentation of North America humic acid market, the vegetables sub-segment is touted to surpass USD 120 million by the end of 2027. Meanwhile, the fruit segment is slated to rise from USD 5 million in 2020 to USD 14 million in 2027, creditable to increasing fruit production and rising exports.

Parallelly, the tree nuts sub-segment, worth USD 5 million value in 2020, is touted to garner a valuation of USD 14 million by the end of 2027.

Speaking of the competitive landscape, Wilbur-Ellis Company LLC, Organic Approach LLC, WinField United, Grow-More Inc., Nature's Lawn & Garden Inc., Everwood Farm, Humic Growth Solutions Inc., Agriculture Solution Inc., Faust Bio-Agricultural Services Inc., Black Earth Humic LP, and The Anderson Inc. are the major players influencing North America humic acid market trends.