Global Humic Based Biostimulants market growth 2024, Forecast To 2033

The humic based biostimulants market has experienced rapid growth, surging from $0.66 billion in 2023 to $0.75 billion in 2024, showcasing a compound annual growth rate (CAGR) of 13.8%. The growth in the historic period is attributed to factors such as the rise in consumer preference for organic produce, an increase in the global population, government subsidies and support, the expansion of the agriculture industry, and increased research and development. Rapid growth is expected to continue, reaching $1.26 billion in 2028, with a CAGR of 13.8%. The forecasted growth is linked to factors such as the growing demand for sustainable agriculture, the increasing demand for food, rising awareness about the importance of crop protection, and a rise in disposable income. Major trends in the forecast period include the development of customized formulations, the utilization of biostimulants for non-food crops, the combination of biostimulants, and collaboration and partnerships.