The Agriculture Miticide Market is expected to reach USD 1829 million by the end of 2026. The Agriculture Miticide Market is estimated to experience reasonable growth to record a CAGR of 5.9 % throughout the estimated period (2021-2026).
Acaricides are chemicals used to kill mites in fields or gardens. Mites are small anthropods closely related to spiders and ticks. They are very difficult to control. The mite population increases with increasing temperature and decreasing humidity. Also, mites can infect plants with viruses and diseases. There are many types of miticides available on the market. Choosing one, in particular, is a difficult task. So before use, please read the label carefully. Start with the miticidal sprays that have the least toxic option. There are different types of mites that can affect both indoor and outdoor plants, and it is difficult to recognize them. Mites are one of the easiest mites to recognize because they produce fine webs and feed on a wide variety of plants. Other mites target specific plants like the spruce mite or the desert locust spider mite.
The COVID 19 pandemic had disrupted the global economy in unprecedented ways. Every sector has faced difficulties with sustaining in the market at the top position, especially in the first half months of 2020. Due to lockdown restrictions, the supply chain was disturbed enormously were the market shares started to decline. Key market players started applying different strategies to maintain profits even at this time. Agriculture miticide market shares are expected to grow at a higher rate in 2021.
Drivers and Restraints of Agriculture Miticide Market:
The increased practice of gardening and farming is expected to act as a major factor in the market for agricultural miticides. Additionally, increased awareness of pest control, growth of innovative products for better performance, changing weather conditions, government reimbursement policies for agriculture, and technological advancements are expected to drive the market during the forecast period. Increasing awareness of the benefits of miticides to maximize overall performance while reducing the losses is a key factor in boosting the global agricultural miticides market. In addition, research and development of acaricides and their use in a wide range of crops to control the spread of mites and kill them at all life stages of mites with less toxicity to beneficial insects are expected to drive the market to the next level the forecast period. Quick action and easy handling are also driving the market. The acceptance and use of chemical miticides for crop and plant protection are increasing dramatically. Companies are working to introduce specific acaricides, which are less toxic to beneficial insects and help control the pest mite population.
The growing need for liquid forms of acaricides, primarily in foliar spray and soil treatment modes of application, is driving the liquid segment of the agriculture miticide market. Acaricides are gaining more and more important in the fruit and vegetable industry. Increased production of various types of fruits and vegetables, stimulated by favorable climatic conditions, technological advances, and adequate storage methods, is expected to stimulate the demand for acaricides. Crops can be protected from the main pests and diseases by using miticides. Its quality and performance can also be improved. The US Food Safety and Quality Act restrict the use of chemical acaricides above the recommended amount due to their harmful effects on pollinators, birds, and beneficial mites. Excessive use can lead to high levels of residues. This is expected to hamper the market for agricultural miticides to some extent during the forecast period. However, the correct dosage of chemical acaricides and the development of environmentally friendly agricultural acaricides can provide opportunities for players operating in the market.
The Agriculture Miticide market is divided into Crop Type, Formulation, Application, and Source. The acaricides segment had the largest share of more than 65% of the Agriculture Miticide Market in 2019. Acaricides are preferred over biological acaricides due to their effectiveness and ability to kill mites and ticks faster.
Based on the formulation, the liquid segment had the largest share of over 60% of the Agriculture Miticide Market in 2019. Growing awareness of farmers to protect their crops from mites is driving the growth of liquid acaricides. Liquid acaricides have high efficacy due to the smaller particle size and are easily absorbed by plants. The cereal and grain segment accounted for the majority of more than 35% of the miticide market in 2019. An increase in the demand for food led the farmer to use acaricides for better agricultural production.
Depending on the application, the foliar spray sector had a major stake of more than 30% of the market in 2019. Mites are considered one of the most difficult pests to control because they grow quickly and are difficult to detect.
On the basis of the source, chemical segment is holding with the dominant shares of the agriculture miticide market.
The Agriculture Miticide market has been categorized on the basis of geography to offer a clear understanding of the global market. The Agriculture Miticide Market is classified into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Asia-Pacific dominated the global agricultural miticides market in 2018. The growth of the agricultural sector in Asia-Pacific countries such as China, India, Indonesia, and the Philippines is a major driver of the agricultural acaricide market in the area. Acaricides have several advantages, such as reduced losses, reduced labor costs, improved performance, and ease of application.
As a result, many multinational players have embarked on the production and development of innovative agricultural acaricidal products. Increased agricultural practices and demand for high-quality fruits and vegetables are expected to boost the agricultural miticides market in Asia-Pacific. Europe and North America are also key regions in the agricultural miticide market due to the presence of an established agricultural industry, high agricultural expenses, and the emphasis on technologically advanced agricultural techniques and products in these regions. The demand for agricultural acaricides is expected to increase in Latin America due to the growth of the agricultural sector, especially in countries such as Brazil and Argentina, during the forecast period.
BASF SE had the largest share of the Agriculture Miticide Market in terms of sales revenue in 2021.
The Agriculture Miticide Market is concentrated with well-established players. Key players in the Agriculture Miticide Market include Shandong Sino-Agri United Biotechnology Co., BASF SE, Jiangsu Huifeng Agrochemical Co., Shandong Weifang Rainbow Chemical Co., Wynca Group, Zhejiang Well-done Chemical Co., Crop Care Pesticides (India) Pvt. Ltd., Osho Chemical Industries Limited, Meerut Agro Chemical Industries Ltd., Certis USA, Rotam North America, OHP, Inc., Valent BioSciences, Gowan Company, and FMC Corporation.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Agriculture Miticide Market, By Crop Type
6.1.1 Oilseeds & Pulses
6.1.2 Cereals & Grains
6.1.3 Fruits & Vegetables
6.1.4 Others (Turf & Ornamentals and Cash Crops
6.1.5 Market Size Estimations & Forecasts (2021-2026)
6.1.6 Y-o-Y Growth Rate Analysis
6.1.7 Market Attractiveness Index
6.2 Agriculture Miticide Market, By Formulation
6.2.3 Market Size Estimations & Forecasts (2021-2026)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
6.3 Agriculture Miticide Market, By Application
6.3.1 Soil treatment
6.3.2 Foliar Spray
6.3.3 Others (Seed Treatment and Post-harvest Treatment
6.3.4 Market Size Estimations & Forecasts (2021-2026)
6.3.5 Y-o-Y Growth Rate Analysis
6.3.6 Market Attractiveness Index
6.4 Agriculture Miticide Market, By Source
6.4.3 Market Size Estimations & Forecasts (2021-2026)
6.4.4 Y-o-Y Growth Rate Analysis
6.4.5 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By Crop Type
7.2.3 By Formulation
7.2.4 By Application
7.2.5 By Source
7.3.1 By Country
22.214.171.124 Rest of Europe
7.3.2 By Crop Type
7.3.3 By Formulation
7.3.4 By Application
7.3.5 By Source
7.4 Asia Pacific
7.4.1 By Country
126.96.36.199 South Korea
188.8.131.52 South East Asia
184.108.40.206 Australia & NZ
220.127.116.11 Rest of Asia-Pacific
7.4.2 By Crop Type
7.4.3 By Formulation
7.4.4 By Application
7.4.5 By Source
7.5 Latin America
7.5.1 By Country
18.104.22.168 Rest of Latin America
7.5.2 By Crop Type
7.5.3 By Formulation
7.5.4 By Application
7.5.5 By Source
7.6 Middle East and Africa
7.6.1 By Country
22.214.171.124 Middle East
7.6.2 By Crop Type
7.6.3 By Formulation
7.6.4 By Application
7.6.5 By Source
8. Key Player Analysis
8.1 BASF SE
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Shandong Sino-Agri United Biotechnology Co.
8.3 Jiangsu Huifeng Agrochemical Co.
8.4 Shandong Weifang Rainbow Chemical Co.
8.5 Wynca Group
8.6 Zhejiang Well-done Chemical Co.
8.7 Crop Care Pesticides (India) Pvt. Ltd.
8.8 Osho Chemical Industries Limited
8.9 Meerut Agro Chemical Industries Ltd.
8.10 Certis USA
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures