Miticides Market

Global Miticides Market Size (2024 to 2029)

The global miticides market size is expected to reach USD 2.18 billion in 2024 and reach USD 2.84 billion by 2029, growing at a CAGR of 5.4% from 2024 to 2029.

The expansion of the miticides market is driven by an increase in the awareness to reduce losses, maximizing performance, and increase the value of fruits, vegetables, ornamentals and other crops. The market is further driven by factors such as technology and the development of innovative miticides that are profitable and employed across a large portfolio of crops to reduce crop losses.

Miticides are crop protection chemicals that specifically target spider mites. They are an important group of crop protection chemicals employed to protect plants against mites and pests such as spiders and ticks. Miticides often vary in terms of the mites they target and the speed of their death rate and are effective against eggs and larval stages, as well as adult mites.

Market Trends

The growing concern to protect crops from mites without adverse effects on the environment has led farmers to explore new miticide formulations to increase yield. Promotions by government organizations for the adoption of miticides and their low cost compared to broad-spectrum insecticides are factors that are predicted to drive market expansion over the next five years in most regions.

Market Drivers

The call for pesticides is escalating to meet the growing needs of the ever-changing agricultural sector. Agricultural productivity has increased due to improved crop varieties, improved crop protection chemicals, and additional irrigation water. Population expansion outstrips worldwide food production, so increased use of the best crop protection chemicals, such as miticides, will benefit producers in developing countries. North America is a key exporter of agricultural products such as fruits, oilseeds, and ornamentals. The region is dominated by large-scale operations, mainly export-oriented, with an organized distribution chain. Factors such as fertile soils, availability of water and land, enterprising farmers, and efficient infrastructure are key competitive advantages for the North American market.

The escalating use of advanced gardening and farming techniques is the main predicted driver for the expansion of the worldwide market for miticides. Decreasing arable land and escalating calls for food products due to population expansion around the world are other factors likely to drive market expansion during the outlook period. Companies are focused on developing innovative new miticides in order to make a competitive profit, which is therefore predicted to drive the expansion of the worldwide miticide market during the conjecture period. Another important factor that is likely to boost market expansion is the growing call for fruits and vegetables, as it offers several health benefits.

Market Restraints

Health risks, such as the presence of carcinogens, increased pollution and environmental concerns, are the main reasons that are acting as a limitation in the market for miticides.

Market Opportunities

The proportion of herbicide and insecticide consumption has increased rapidly due to the growing concern about protecting plants and crops against insects and mites that can affect crop expansion. Mites are considered one of the most threatening and difficult-to-control garden pests. These small arthropods include spiders and ticks. The Mites population increases rapidly when the temperature is high and the humidity is too high. Since these mites are small and difficult to detect, the presence of mites is only noticed when the plants are significantly affected in most cases. Miticides play an important role in controlling the expansion of mites on plants. Miticides are the chemical agent that helps kill mites. Although there are several types of miticides available on the market, the main function of miticides is to keep mites away from garden plants.

Market Challenges

Stringent government regulations regarding the approval process are predicted to hamper the expansion of the worldwide market over the foreseen period.

Impact of COVID-19 on the Miticides Market

There is no doubt that in addition to its impact on public health, Coronavirus and the blockade that took place as of March 2020 in an attempt to contain its spread had a significant economic impact that affected all sectors of the economy. Farmers markets are no exception. Despite the fact that food is a commodity that, in principle, is not subject to movement restrictions, food markets have been significantly affected by the spread of the novel coronavirus disease. The impact was manifested in the form of supply and call shocks. The employment and income shocks that led to a widespread cut in calls were compounded by the closure of hotels, restaurants, and establishments. Additionally, consumer buying behavior has changed, with the rise of online transactions and home delivery services replacing in-person purchases and restaurants. Producers and distributors are forced to move their supplies from restaurants to retail channels. On the supply side, along the value chain, there are labor and logistical limitations.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Miticides Market By Crop Type

According to the type of crop, the fruit and vegetables segment represented the largest market share. This can be attributed to increased health awareness among consumers and increased income, resulting in increased consumption of a wide variety of products, especially fruits and vegetables.

Global Miticides Market By Source

According to the source, the chemical segment dominated the miticide market in 2021. The use of synthetic chemical miticides for plant and crop protection is growing steadily.

Global Miticides Market By Form

On the basis of formulation, the miticide market was dominated by the liquid segment in 2021. Liquid formulations are mainly preferred because they do not cause dust formation when spraying, do not cause toxicity or flammability, and provide high efficiency due to size, smaller particle size, and low packing volume. Furthermore, the foliar spray is the most widely employed application mode, due to its ease and high efficiency.

REGIONAL ANALYSIS

The Asia-Pacific region is predicted to be the fastest-growing market for miticides between 2021 and 2026. Escalating awareness of miticides and continued technological advancements are contributing factors to the expansion of this market. In addition to this, the growing call for crops and the expansion of crops in Asia-Pacific countries have forced agribusiness companies to expand their supplier and manufacturing base in the region. Many countries have banned various chemical pesticides due to their dangerous nature. For example, the United States banned about 64 synthetic pesticides in 2003, and the number continues to rise. This has led to a high consumption of biological miticides in parts of Europe and North America due to strict environmental regulations. These strict rules and regulations for miticides are generally associated with the toxicity of miticides, which affects human and animal health, while also leading to environmental degradation.

The North American market is predicted to dominate the worldwide market for miticides during the foreseen period due to the increased adoption of modern agricultural techniques and practices. Also, the expansion of the agricultural industry and increased call for food are estimated to drive the expansion of the worldwide miticides market. The Asia-Pacific region is determined to grow with the highest CAGR in the global miticide market due to population expansion leading to a higher call for food. Furthermore, the growing awareness of the various benefits of miticides among farmers in developing countries such as India and China is expected to support the expansion of the market for miticides in this area.

KEY MARKET PLAYERS

BASF SE (Germany), Bayer Crop Science AG (Germany), The DOW Chemical Company (US), Nihon Nohyaku Co., Ltd. (Japan), Syngenta AG (Switzerland), FMC Corporation (US), ADAMA Agricultural Solutions Ltd. (Israel), Gowan Company, LLC (US), Valent USA (US), UPL Corporation Ltd. (India), Certis Europe (Netherlands), OHP, Inc. (US), Nissan Chemicals Industry (Japan), Nufram Limited (Australia), and Mantis Plant Protection LLC (US) are some of the key players in the global miticides market.

RECENT DEVELOPMENTS IN THE GLOBAL MITICIDES MARKET

Mites can cause great losses to farmers, but farmers need various products to control these pests at different stages of their life cycle. Insecticides India launches a Japanese miticide product.

Dhanuka Agritech, one of India's dominating agrochemical formulation firms, declared new pesticides for rice, cotton and chili crops in Ludhiana.

DETAILED SEGMENTATION OF THE GLOBAL MITICIDES MARKET INCLUDED IN THIS REPORT

This research report on the global miticides market is segmented and sub-segmented into the following categories.

By Crop Type

• Fruits & Vegetables
• Cereals & Grains
• Oilseeds & Pulses

By Mode of Application

• Foliar Spray
• Soil Treatment

By Source

• Biological
• Chemical

By Form

• Dry
• Liquid

By Region

• North America 
• Europe 
• Asia Pacific
• Latin America 
• Middle East & Africa