Miticides Market is expected to reach US$ 1,352.13 million by 2028

Ongoing Developments in Crop Protection Practices to Fuel Miticides Market During Forecast Period

According to our latest market study on “Miticides Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Source, Form, and Crop Type,” the miticides market was valued at US$ 997.00 million in 2022 and is projected to reach US$ 1,352.13 million by 2028; it is expected to grow at a CAGR of 5.2% from 2022 to 2028. The report highlights key factors driving the market growth and prominent players along with their developments in the market.

A miticide is a chemical insecticide that mainly targets mites (e.g., spider mites) that harbor fruits and vegetables, cereals and grains, oilseeds and pulses, turf and landscape, ornamental flowers, and forage and plantation crops. Miticides are packed in the form of spray concentrates and have powerful active ingredients, resulting in a quick knockdown and fast kill. The global miticides market is mainly driven by the growing demand for fruits and vegetables.

Global Miticides Market Breakdown –by Region

The development of miticide resistance in mites is a major issue in the agriculture field. Repeated pesticide uses result in microevolution due to the selection pressure, ultimately leading to resistance development. Thus, manufacturers have shifted their focus on offering miticides made of chemicals such as omite and palictran, which give better results without harming the predatory fauna of mite pests. Moreover, they offer effective products that can kill mites in all stages of their lifecycle. The continuous development of crop protection chemicals in developed as well as developing regions, such as North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America, created a huge impact on the market. In 2022, Asia Pacific held the largest revenue share of the global miticides market.

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 a few of the major players operating in the global miticides market. Players operating in the global miticides market are highly focused on the development of high-quality and innovative product offerings to fulfill the customer’s requirements.

Impact of COVID-19 Pandemic on Miticides Market

Due to the COVID-19 pandemic, many industries, such as chemical & materials and agriculture, faced unprecedented challenges due to disruptions in the global supply chain that adversely affected the manufacturing, delivery schedules, and sales of various goods. The market size for miticides has decreased due to a decline in the growth of the agriculture sector. Many production sites were either partially or fully closed to combat the spread of SARS-CoV-2. The COVID-19 pandemic also caused fluctuations in the prices of miticides. However, as the economies continue to revive their operations, the demand for miticides is also rising across the globe. The demand for miticides is rapidly increasing, owing to the recovery of the agricultural and farming activities. Increasing use of miticides for crop protection is expected to offer more growth opportunities for the global miticides market during the forecast period.

The report includes the segmentation of the global miticides market as follows:

Based on source, the global miticides market is bifurcated into bio-based and synthetic. Based on form, the global miticides market is bifurcated into dry and liquid. Based on crop type, the global miticides market is segmented into fruits and vegetables, cereals and grains, oilseeds and pulses, and others. By geography, the global miticides market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The global miticides market in North America is further segmented into the US, Canada, and Mexico. The global miticides market in Europe is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The global miticides market in Asia Pacific is segmented on the basis of China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the MEA is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The global miticides market in South & Central America is segmented on the basis of Brazil, Argentina, and the Rest of South & Central America.

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