Humin Market Report

Market Insights

The Humin market is projected to grow from USD xx million in 2020 to USD xx million by 2026 at a CAGR of around xx% during the forecast period.

Figure: Humin Market Size, 2020-2026 (USD Million)

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What is humin?

The part of humic acid that is not soluble in water at any pH is called humin. Among all the humic substances, humin has a low capability to decompose into the soil. It is vital for the fertility of the soil. It consists of a broad range of essential trace elements. It also helps to improve plant nutrient uptake and ensures higher plant growth.

Key Players

Key players operating in the humin market are-

• HUMINTECH GmbH (Germany)
• The Andersons (US)
• Canadian Humalite International (Canada)
• Humin Earth Organics (US)
• Helena Chemical Company (US)
• Shenyang Humate Technology (China)
• Fertechnik Ltd. (Hungary)
• L.Gobbi Srl unipersonal (Italy)
• Sapropeat (Africa) Ltd (Africa)
• Maxwell Amenity Ltd. (UK).

Market Dynamics

Growing demand for organic products increases the demand for organic fertilizers and plant growth enhancers which, in turn, augments the demand for humin. Moreover, repeated use of fertilizers and other agrochemicals has resulted in many agricultural issues, which increases the demand for more humin-based products that help in enhancing soil fertility. Also, the growing horticulture and greenhouse cropping in many regions across the globe are further promulgating the market growth during the review period.

Segments' Analysis

Form Trends

By form, the humin market has been classified into solid and liquid. Under these, the liquid segment accounted for a significant market share in 2020 and is projected to register significant growth during the review period. This is mainly attributed to its easy absorption and high active ingredient content and highest product purity. Also, it accelerates the growth of the plant, increases the germination rate, and improves early nutrient uptake by the roots, which fosters the segment growth.

Regional Trends

By region, the market in Europe accounted for a significant market share in 2020 and is projected to grow at a significant CAGR during the assessment period. This is mainly ascribed presence of the strong presence of agricultural lands, robust horticulture growth, government subsidies for farmers, rising awareness regarding humin, as well as the strong presence of product manufacturers, which further proliferates the regional market growth.

COVID-19 Impact on Humin Market

The COVID-19 outbreak moderately affected the Humin market growth. Farmers are struggling to sell products, while many global leaders are helping their farmers and producer to sell products via online Agri trade marketplaces. The governmental bodies are monitoring the transportation and circulation of agricultural products. Logistic restriction and shortage of labor is the major challenge faced by the manufacturers amid the pandemic.

Critical Questions Answered in the Report

• What are the key trends in the humin market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
• What is the impact of COVID-19 on humin market?
• What are the key strategies adopted by the major vendors to lead in the humin market?
• What is the market share of the top vendors?

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Target Audience

Here is the list of the group of customers that the humin market hopes to have the greatest opportunity to convert-

• Humin distributors
• Humin suppliers
• Humin manufacturers
• Logistics organizations
• Government bodies

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