Humate Fertilizer: Introduction

  • Humate or humic acid fertilizer is an excellent soil conditioner used primarily to enhance the nutrient absorbing ability of roots and cells. Furthermore, humate fertilizer helps speed cellular metabolism of the soil. Humate is a black solid matter that consists of humic acid. Additionally, it is a salt of humic acid, which is completely soluble in water.
  • Based on type, the global humate fertilizer market can be segmented into iron, potassium, calcium, magnesium, and others. The iron segment is projected to hold a major share of the global humate fertilizer market. Iron humate fertilizer provides increased iron content in the root and soil interface, thereby enhancing uptake ability of iron in plants. The potassium humate segment is estimated to expand at a notable CAGR between 2020 and 2030. Potassium humate offers very high chemical and biological activity; hence, the potassium humate segment is expected to increase its share by the end of the forecast period.

Attributes of Humate Fertilizer to Drive its Demand in the Near Future

  • Humate fertilizer is an excellent source of nutrients to plant and soil. It stimulates plant enzymes and increases the microorganism content of soil. Humate fertilizer also acts as an organic catalyst, thereby increasing respiration and formation of roots. It also possesses excellent pH buffering capacity, thereby helping neutralize the problems associated with pH variations in soil.
  • Humate fertilizer offers most productive solution in sustainable agriculture. It is made of humic, fulvic acid and raw humates (plant matter). Presence of humic acid in humate fertilizer helps boost the growth of fungi in soil. Humic acid stabilizes nitrogen content of the soil. Moreover, it aids in improving nitrogen efficiency, thereby makes it a potential additive for urea. The presence of these raw material in humate fertilizer increases the ability of soil to hold nutrients, which in turn strengthens nutrient absorption. All these characteristics of humate fertilizer are expected to drive its demand in the near future.

Impact of COVID-19 on Global Humate Fertilizer Market

  • The humate fertilizer industry, globally, has been severely affected by the onset of pandemic. Production of humate fertilizer declined in China and India in the second quarter of 2020. Factors responsible for the decline include closure of production sites, decreased demand from the agriculture sector, and a lack of availability of raw material. All these factors led to supply-chain disruption in the humate fertilizer market, which in turn is likely to hamper the market temporarily.

Asia Pacific to Hold Major Share of Global Humate Fertilizer Market

  • In terms of region, the global humate fertilizer market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Asia Pacific is anticipated to hold a major share of the global humate fertilizer market. Asia Pacific is home to several farming-based products manufacturing countries including India, China, Indonesia, the Philippines, Vietnam, and Thailand. These countries have a rich portfolio of various agriculture crops, fruits, and vegetables. Additionally, growing population coupled with rising demand for healthy food products is likely to boost consumption and production of fruits and vegetables in the near future. Humate fertilizer is primarily utilized to enhance the nutrient uptake ability of the soil and plant, which in turn is likely to drive the demand for humate fertilizer in the near future. Availability of low cost labor is a prominent factor that is likely to drive the production of humate fertilizer across the region.
  • Europe and North America are major producers of humate fertilizer, globally. While countries in Middle East & Africa rely on import from Asia Pacific and Europe to cater to the demand for humate fertilizer in the region.

Key Players Operating in Market

The global humate fertilizer market is highly fragmented in nature. The prominent players in the market focuses on increasing their market share through new product launch and extensive research & development in humate fertilizer market. Prominent players operating in the global humate fertilizer market include:

  • The Andersons, Inc.
  • Everwood Farm
  • Nature's Lawn & Garden
  • Humintech GmbH
  • Changsha Xian Shan Yuan Agriculture and Technology
  • Agriculture Solutions Inc.
  • NPK Industries
  • Nutri-Tech Solutions Pty Ltd.
  • Tagrow Co. Ltd.
  • WinField Solutions, LLC.
  • Organic Approach LLC
  • National Pesticides & Chemicals
  • Sikko Industries Ltd.
  • Grow More Inc.
  • Jiloca Industrial, S.A.
  • Wilbur-Ellis Company LLC.

Global Humate Fertilizer Market: Research Scope

Global Humate Fertilizer Market, by Form

  • Powder/Granules
  • Flakes
  • Liquid

Global Humate Fertilizer Market, by Type

  • Iron
  • Potassium
  • Calcium
  • Magnesium
  • Others

Global Humate Fertilizer Market, by Substrate

  • Vegetables
  • Fruits
  • Field Crops
  • Others

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
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  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

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