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Inclination Towards Bio-fertilizers for Sustainable Agriculture to Steer Humus Concentrate Market Past US$ 6.67 Billion by 2032
NEW YORK , July 26, 2022 /PRNewswire/ -- The global humus concentrate market size reached US$ 4.23 billion in 2022 and is likely to grow at a CAGR of 4.6% between 2022 and 2032, surpassing a valuation of US$ 6.67 billion by 2032. Rising popularity of biofertilizers and increasing need for safe and contaminant free food are some of the key factors driving demand for humus concentrates in the market.
Humus concentrate is an eco-friendly biofertilizer that improves soil fertility, retains soil moisture, and promotes growth of plants. It is composed of natural and organic components derived from the soil.
Over the years, adoption of humus concentrate has enabled farmers to practice sustainable agriculture. It has allowed them to improve the quality of soil, increase the crop production output, and comply with stringent environmental regulations.
Growing concerns regarding food insecurity and need for food that is safe and free of contaminants will provide a strong thrust to the growth in humus concentrate market during the forecast period. Today, numerous farmers across the globe are using environment-friendly fertilizers such as humus concentrate to improve the quality and quantity of food products.
Further, development of new products along with introduction of awareness campaigns by humus concentrate manufacturers to educate farmers about the benefits will foster the growth in humus concentrate market during the forthcoming decade.
Regionally, Europe and North America , collectively, will account for over 50% of revenue share in humus concentrate market. Growth in these markets is driven by rapid adoption of biofertilizers, implementation of stringent regulations, and growing need for improving the quality and quantity of crops.
Leading humus concentrate manufacturers are constantly focusing on expanding their product portfolios by introducing new products in different forms. Besides this, they have adopted various organic and inorganic strategies such as mergers, acquisitions, joint ventures, partnerships, and establishment of new facilities to gain a competitive advantage in the market.
For instance,
In the latest study, Fact.MR offers a 360-degree view of the global humus concentrate market for the forecast period of 2022 to 2032. The report also highlights key factors such as recent developments and growth drivers influencing sales in the humus concentrate market through detailed segmentation as follows:
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