Miticides Market 2022- 2028 by Industry Size, Share and Growth

Miticides Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Source (Bio-Based and Synthetic), Form (Dry and Liquid), and Crop Type (Fruits and Vegetables, Cereals and Grains, Oilseeds and Pulses, and Others)

  • Report Code : TIPRE00004871
  • Category : Chemicals and Materials
  • Status : Published
  • No. of Pages : 192
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Miticides Market 2022- 2028 by Industry Size, Share and Growth

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The miticides market size is expected to grow from US$ 997.00 million in 2022 to US$ 1,352.13 million by 2028; it is estimated to grow at a CAGR of 5.2% from 2022 to 2028.

Miticides are also known as Acaricides, which are pesticides specially manufactured to kill rodents, mice, and tricks. Growing demand to control various crop-related diseases and concerted efforts of governments and companies to promote sustainable agriculture are a few of the key factors contributing to the growth of the market. In addition, the growing demand for miticides for fruits and vegetables is one of the major factors driving the market growth. Poor diet is one of the major causes of malnutrition and diseases across the world. Micronutrients and dietary fibers are necessary for health, and fruits and vegetables are loaded with such nutrients, which makes them an essential part of a healthy diet. Thus, their demand is growing with the rising awareness about healthy diets. The World Health Organization (WHO) and the Food and Agriculture Organization (FAO) recommend a minimum consumption of 400g of fruits and vegetables per person per day. This diet would help to prevent chronic diseases such as heart disease, diabetes, cancer, and obesity. It is also likely to prevent and alleviate several micronutrient deficiencies, especially in people from less developed countries. An insufficient intake of fruits and vegetables is estimated to lead to ~14% of deaths from gastrointestinal cancer worldwide, ~11% of those from ischemic heart disease, and ~9% of those caused by stroke.

In 2022, Asia Pacific held the largest share of the miticides market and is estimated to register the highest CAGR during the forecast period. The market growth in this region is mainly attributed to growing awareness about crop protection chemicals among farmers, surging government subsidies, and rising food demand due to the increasing population. During the forecast period, the growing demand for agricultural products and organic produce is increasing the need for high productivity and yield, which is boosting the use of miticides in Asia Pacific countries, especially China, Japan, and India. The growing agriculture sector is increasing the product consumption rate in Asian countries. According to the Asian Development Bank, rising incomes and urbanization are affecting food consumption activities across the region.

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Miticides Market: Strategic Insights

Miticides Market

  • CAGR (2022 - 2028)
    5.2%
  • Market Size 2022
    US$ 997.00 Million
  • Market Size 2028
    US$ 1,352.13 Million

Market Dynamics

GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players

  • Nihon Nohyaku Co Ltd
  • Kemin Industries Inc
  • BASF SE
  • Bayer AG
  • FMC Corp
  • Gowan Co
  • Syngenta AG
  • UPL Ltd
  • Oro Agri International BV

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Source
  • Bio-Based and Synthetic
Form
  • Dry and Liquid
Crop Type
  • Fruits and Vegetables
  • Cereals and Grains
  • Oilseeds and Pulses
  • Others
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Impact of COVID-19 Pandemic on Miticides Market

Lockdowns, travel restrictions, and business shutdowns due to the COVID-19 pandemic adversely affected economies and industries in various countries in North America, Europe, Asia Pacific (APAC), South & Central America, and the Middle East & Africa (MEA). The crisis disturbed global supply chains, manufacturing activities, delivery schedules, and essential and nonessential product sales. Various companies announced possible delays in product deliveries and a slump in future sales of their products in 2020. Further, the international travel bans imposed by various governments in Europe, Asia Pacific, and North America forced several companies to discontinue their collaboration and partnership plans. All these factors hampered the chemicals & materials industry in 2020 and early 2021, thereby restraining the growth of various markets related to this industry, including the miticides market.

Before the onset of the COVID-19 outbreak, the miticides market was mainly driven by the rising demand from the agriculture industry. However, in 2020, various industries had to slow down their operations due to disruptions in value chains caused by the shutdown of national and international boundaries. The COVID-19 pandemic disrupted the supply chain of key raw materials and disturbed manufacturing processes due to restrictions imposed by government authorities in various countries. Such factors reduced the production of agrochemicals, including miticides.

Market Insights

Strategic Developments by Key Players Favor Miticides Market Growth

Key players in the market are engaged in adopting various marketing strategies such as product launches, mergers & acquisitions, collaborations, and others. Such strategic developments by key players in the market are expected to surge the growth of the miticides market.

Source-Based Insights

Based on source, the miticides market is bifurcated into bio-based and synthetic. The synthetic segment held a larger market share in 2022, and the bio-based segment is expected to register a higher CAGR during the forecast period. Chemical miticides are preferred over bio-based ones due to their effectiveness and ability to destroy mites and ticks faster. Chemicals affect mites' essentially biological processes or systems such as the nervous system, growth, or metabolic energy production.

Form-Based Insights

Based on form, the miticides market is bifurcated into dry and liquid. The liquid segment held a larger market share in 2022, and the dry segment is expected to register a higher CAGR during the forecast period. Liquid miticides are highly efficient as they are composed of smaller particle sizes and can be easily absorbed by plants. They do not cause dust formation on spraying, thus lowering the risk of inhaling toxins through the mouth and nose. Easy application, transport, storage, and the high effectiveness of liquid miticides in destroying ticks and mites are a few factors augmenting the growth of the miticides market for the liquid segment.

Crop Type-Based Insights

Based on crop type, the miticides market is segmented into fruits and vegetables, cereals and grains, oilseeds and pulses, and others. The fruits and vegetables segment held the largest share of the global miticides market in 2021. Fruits and vegetables grown in the subtropical and temperate zones are most susceptible to mites. Miticides are chemicals that kill or repel mites. Therefore, miticides are commonly employed to ensure successful fruit and vegetable production.

Nihon Nohyaku Co Ltd, Kemin Industries Inc, BASF SE, Bayer AG, FMC Corp, Gowan Co, Syngenta AG, UPL Ltd, Oro Agri International BV, and Certis USA LLC are among the major players operating in the miticides market. These companies mainly focus on product innovation to expand their market size and follow emerging market trends.

Miticides Market Report Scope

Report Attribute Details
Market size in 2022 US$ 997.00 Million
Market Size by 2028 US$ 1,352.13 Million
Global CAGR (2022 - 2028) 5.2%
Historical Data 2020-2021
Forecast period 2023-2028
Segments Covered By Source
  • Bio-Based and Synthetic
By Form
  • Dry and Liquid
By Crop Type
  • Fruits and Vegetables
  • Cereals and Grains
  • Oilseeds and Pulses
  • Others
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Nihon Nohyaku Co Ltd
  • Kemin Industries Inc
  • BASF SE
  • Bayer AG
  • FMC Corp
  • Gowan Co
  • Syngenta AG
  • UPL Ltd
  • Oro Agri International BV
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

    Report Spotlights

    • Progressive industry trends in the miticides market to help companies develop effective long-term strategies
    • Business growth strategies adopted by the miticides market players in developed and developing countries
    • Quantitative analysis of the market from 2020 to 2028
    • Estimation of global demand for miticides
    • Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers in the miticides market
    • Recent developments to understand the competitive market scenario
    • Market trends and outlook, as well as factors driving and restraining the growth of the miticides market
    • Assistance in the decision-making process by highlighting market strategies that underpin commercial interest
    • Size of the miticides market at various nodes
    • Detailed overview and segmentation of the market and growth dynamics of the miticides industry
    • Size of the miticides market in various regions with promising growth opportunities
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Source, Form, and Crop Type

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

    Frequently Asked Questions


    What are the key drivers for the growth of the global miticides market?

    Increasing use of miticides for crop protection and yield improvement is expected to aid the growth of the market. According to the article “Agricultural Development, Pesticide Application, and Its Impact on the Environment,” without pesticides, there would be a 78% loss in fruit production, a 54% loss in vegetable production, and a 32% loss in cereal production. This implies the crucial role of pesticides in reducing diseases and increasing crop yields. Miticides help keep crops healthy and disease free by killing ticks and mites.

    Based on crop type, which is the fastest-growing segment in the miticides market?

    Based on crop type, fruits and vegetables is the fastest-growing segment. Fruits and vegetables grown in the subtropical and temperate zones are most susceptible to mites. The advancements in agricultural practices and the necessity of high-quality fruit and vegetable produce have boosted the demand for miticides.

    Based on the source, why does the synthetic segment have the largest revenue share?

    Based on the source, the synthetic segment accounted for the largest revenue share. The ability of synthetic miticides to effectively destroy mites and ticks has increased their demand in the global market.

    What is the largest region of the global miticides market?

    Asia Pacific comprises of countries with world’s largest populations. The population growth has led to the growing demand for agricultural produce as well increase the crop yield in the region.

    Can you list some of the major players operating in the global miticides market?

    The major players operating in the global miticides market are Nihon Nohyaku Co Ltd, Kemin Industries Inc, BASF SE, Bayer AG, FMC Corp, Gowan Co, Syngenta AG, UPL Ltd, Oro Agri International BV, and Certis USA LLC among others

    What are the opportunities for miticides in the global market?

    Frowing developments and continuous research in crop protection and farming practices are expected to provide lucrative growth opportunities to the global miticides market during the forecast period.

    The List of Companies - Miticides Market

    1. Nihon Nohyaku Co Ltd
    2. Kemin Industries Inc
    3. BASF SE
    4. Bayer AG
    5. FMC Corp
    6. Gowan Co
    7. Syngenta AG
    8. UPL Ltd
    9. Oro Agri International BV
    10. Certis USA LLC

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