Global Humin – Market Outlook
The part of humic acid which is not soluble in water at any pH is humin. Among all the humic substance humin has low capability to decompose into the soil. Humin is essential for the fertility of the soil. It consists a varied range of essential trace elements. Humin helps to improve plant nutrient uptake and ensures higher plant growth. Humic substances such as fulvic acid, humic acids, and humin are extensively used by the agriculture industry to improve soil strength. The use of chemical fertilizers has decreased the nutrients present in soil which had reduced the crop yield of arable land. Rising awareness among the consumers about the harmful effect of chemical fertilizers is the factor for preferring organic products which in turn fuels the humin market. High yield crop requires healthy soil, and humin helps the soil improves the quality to support the plant. The demand for soil-enriching solutions is increasing and manufacturers are investing in research and development to provide solutions with new and innovative formulations to help the growers and farmers.
The demand for soil fertility enhancer is driving the humin market
Increasing demand for organic products increases the demand for organic fertilizers and plant growth enhancers which in turn propel the demand for humin. Repeated use of fertilizers and other agrochemicals has caused many agricultural issues, this increases the demand for more humin based products which helps in improving soil fertility. The increasing horticulture and greenhouse cropping in many regions of the world are driving the global Humin market. To meet the demands of the rising population, farmers need a solution to increase the crop yield. Humin based products are increasingly gaining importance due to various reasons, such as ensuring food security, reducing crop losses, and production of high-yield crops. The presence of humin improves the water holding capacity and structure of the soil which is the reason humin is demand by farmers in most of the regions of the world.
Global humin market – segmentation
Based on form, the global humin market is segmented as
Based on application, the global humin market is segmented as
Based on the region, the global humin market is segmented as
Global Humin Market - Key Players
Some of the key players of the global Humin market are Humin Earth Organics, Helena Agri-Enterprises, Maxwell Amenity Ltd, Canadian Humalite International, Humintech Sapropeat (Africa) Ltd, and others. The companies are investing in research and development to improve and launching new products that are more effective and increase company’s presence in the market.
Global Humin Market Opportunity
The growing demand for organic and natural produce is expected to fuel the global humin market. The healthy plant needs proper nutrition and humic substance helps the plant to absorb the nutrients from the soil. The awareness about the harmful effect of chemical fertilizers is fueling the humin market in most of the regions of the world. Europe and North America is the highest market for humin due to growing demand for organic farm products by the consumers. Many countries restricted the uses of harmful chemical fertilizers to keep the soil as well as farmers safe. Environment protection and sustainable agriculture methods adopted by the farmers is giving ample opportunity to the new participant of the humin market. Emerging Economies like India and China are giving an opportunity to the global leaders to expand in the Asia Pacific regions due to high agricultural growth.
Impact of COVID-19 on Global Humin Market
This COVID -19 has caused severe damage to world economy. COVID-19 is continuously spreading all over the world, many companies are operating while keeping measures according to government guidelines. This pandemic has severely affected all the sectors. Europe and North America are the largest markets for Humin, since the COVID- 19 has affected these regions it has also adversely affected the global market. Manufacturers are looking for opportunities to gain new growth during the difficulties. Farmers are struggling in selling products, many global leaders are helping their farmers and producer to sell products on online Agri trade market places. 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.
Regional analysis covers market performance in-