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Humin Market Report
Humin Market, By Form (Solid, Liquid), By Application (Agricultural, Horticulture, Others), and Region - COVID-19 Impact Analysis and Forecast to 2026.
This market research report provides in-depth information on trends, dyn...
Impact of COVID-19 on Humin Market
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
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.
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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 operating in the humin market are-
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.
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.
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.
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.
Here is the list of the group of customers that the humin market hopes to have the greatest opportunity to convert-
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HUMINTECH GmbH (Germany), The Andersons (US), Canadian Humalite International (Cana-da), Humin Earth Organics (US), Helena Chemical Company (US), Shenyang Humate Technology (China), Fertechnik Ltd. (Hungary), L.Gobbi Srl unipersonal (Italy), Sapropeat (Africa) Ltd (Afri-ca), and Maxwell Amenity Ltd. (UK) are among the key players in the humin market.
Growing demand for organic products, the growing horticulture and greenhouse cropping in many regions across the globe are the factors driving the growth of humin market.
The liquid segment is expected to register significant growth in the humin market in the coming years.
Europe accounted for a significant CAGR in the humin market in 2020.
Humin distributors, Humin suppliers, Humin manufacturers, Logistics organizations, Government bodies are the target audience in the humin market.
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