Fulvic Acid Market Size, Share, Growth, and Industry Growth by Type (Industrial Grade and Pharmaceutical Grade) By Application (Medicine, Fertilizer, and Others), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Fulvic Acid Market REPORT OVERVIEW

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The global fulvic acid market size was USD 227.51 Million in 2021 and market is projected to touch USD 378.8 Million by 2031, at a CAGR of 5.23% from 2021 to 2031.

A fulvic acid is a group of chemical formulations when animals and plants break down. It is found in the humus (organic matter) part of peat and soil. It is also found in lakes and streams.

The acid is extensively used for eczema (atopic dermatitis), allergies, cancer, Alzheimer’s disease, and others. The acid helps to block reactions in the body which can cause allergy symptoms. It is also used to prevent or slow the growth of cancer and reduce swelling. Further, an increased number of allergic people and several reactions against allergies is estimated to boost the market growth. An increased need to reduce allergies and improve some symptoms of eczema is estimated to foster market growth. The acid is being used in numerous traditional medicine and today it is used in a supplement form. Expansion in the healthcare sector and a huge need for organic products are anticipated to accelerate market growth. On the contrary, consumers are becoming aware of harmful effects associated with the acid, such as headaches and throat issues. These side effects of the acid are expected to obstruct market growth throughout the estimated period.

COVID-19 Impact: Huge Need for Essential Good Services for Survival during the Pandemic to Fuel Market Growth

The Coronavirus pandemic posed major challenges to industries, and humans globally. Several markets witnessed went through economic loss due to lockdown restrictions. But, governments monitored the production and distribution of essential goods. The market witnessed a negative impact due to the demand for crops and ensuring productivity for the next season. Also, demand from the pharmaceutical and medical sectors boosted product adoption. However, manufacturers of the company faced challenges in supply due to travel bans and border closure

LATEST TRENDS

"High Need for the Acid in Agriculture Sector to Improve Market Progress"

The acid is used in the agriculture sector for fertilizing crops. Several farmers adopted the acid to increase the cropping rate and improve farming techniques. Advancements in the agriculture sector and the high adoption of organic products in the crops are anticipated to improve market growth. Favorable government initiatives and a high need for bio-based resources in farming are predicted to boost product demand. Increased concern about the harmful effects of synthetic agrochemicals and increased need for eco-friendly products driving the demand for fulvic acid-based products in the agriculture sector. It is used to provide proper nutrition to the soil and soil structure.

Fulvic Acid Market SEGMENTATION

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• By Type

Based on type, the market is divided into industrial grade and pharmaceutical grade.

Pharmaceutical grade is expected to be the top part of the segmentation type.

• By Application

Based on the application, the market is divided into medicine, fertilizers, and others.

Medicine is expected to be the top part of application segmentation.

DRIVING FACTORS

"Widespread Benefits of the Product to Boost Market Growth "

The product is anticipated to grow owing to its uses in medicine to cure several diseases. It is helpful in the translocation and absorption of nutrients in every part of plants. It is useful to boost the human immune system and it helps to carry vitamins and other nutrients to the proper place. The acid is extensively used for eczema (atopic dermatitis), allergies, cancer, Alzheimer’s disease, and others. The acid helps to block reactions in the body which can cause allergy symptoms. It is also used to prevent or slow the growth of cancer and reduce swelling. Further, an increased number of allergic people and several reactions against allergies is estimated to boost the market growth. An increased need to reduce allergies and improve some symptoms of eczema is estimated to foster market growth. The acid is being used in numerous traditional medicine and today it is used in a supplement form. Expansion in the healthcare sector and a huge need for organic products are anticipated to accelerate market growth

"Ongoing R&D Activities to Surge Market Growth"

Increased R&D activities and high awareness about the advantages of acid among customers are predicted to drive market growth. Increased adoption of the product in personal care products and increased industrialization is projected to foster market progress in the forthcoming years.

RESTRAINING FACTORS

"Harmful Effects Associated with the Acid to Limit Market Progress"

Consumers are becoming aware of harmful effects associated with the acid, such as headaches and throat issues. These side effects of the acid are expected to obstruct market growth throughout the estimated period.

Fulvic Acid Market REGIONAL INSIGHTS

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"Favorable Government Policies in Europe to Drive Market Share "

Europe is anticipated to witness a prominent fulvic acid market share owing to favorable government policies. Increased need for organic products in cultivation in the region, and rapid focus on sustainable development. Regulations for farmers to adopt organic products and increased awareness about health benefits and high popularity of the product supplement. Further, increased R&D activities and high development of the product are predicted to drive market growth in the forthcoming years.

KEY INDUSTRY PLAYERS

"Leading Players Adopt New Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Nutri-Tech Solutions Pty Ltd. (Australia)
• Valagro SpA (Italy)
• Adler Agro (Spain)
• Pure Fulvic Minerals (U.S.)
• Humic Growth Solutions (U.S.)
• Koppert B.V (Netherlands)
• Bio-Agricultural Services, Inc. (India)
• Biolchim SpA. (Italy)
• Saint Humic Acid (China)

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.