Human Market Forecast to Reach $2,162.4 Million by 2034, Anticipated 9.1% Annual Growth Rate
The global humate market is experiencing significant growth, particularly in the agriculture sector. In 2024, agriculture accounted for 68.2% of the market, with a value of USD 413.6 million in North America alone.
Leading the charge is North America, followed by Europe, where countries like Germany, France, and Spain have high demand for humates. The region's second-place standing is set to change, however, as Latin America, spearheaded by Brazil and Mexico, sees a surge in humate usage due to strong agricultural exports and a shift towards bio-based inputs.
Farmers are favouring powdered humates for their ease of storage, transport, and blending with fertilizers. These powdered humates enhance nutrient uptake, stimulate microbial activity, and improve soil structure, thereby strengthening plant resilience against drought, salinity, and disease. Potassium humate, in particular, dominated the market in 2024, capturing 47.5% due to its strong soil-enhancing properties.
Asia Pacific is also rapidly growing in the humate market, with India and China adopting humates to maximise productivity on limited farmland. The Middle East & Africa are gradually integrating humates to combat soil salinity and water scarcity.
The benefits of humates in agriculture are numerous. They help fertilizers work more efficiently, allowing for smaller amounts to be used with similar or better results. Additionally, humates improve water retention and enhance microbial activity, making them an attractive solution for sustainable and natural soil management.
Looking ahead, the global humate market is projected to grow at a CAGR of 9.1% from 2025 to 2034, reaching USD 2,162.4 million by 2034. This growth is expected to be driven by increasing awareness of the environmental impact of chemical fertilizers and the need for sustainable agricultural practices.
Leading companies in the global humate market, supporting industry growth through investments in natural, ecological solutions, include BASF, YARA International, Haifa Group, American Humate Corporation, and Polynutrient. With sustainability and natural soil management gaining global traction, powdered humates remain the preferred choice in the market.
In conclusion, the global humate market is on an upward trajectory, particularly in the agriculture sector. As the world moves towards more sustainable and eco-friendly practices, the demand for humates is expected to continue growing, making them a vital component in modern agriculture.
