Market Research Report
Acaricides Market - Growth, Trends, and Forecast (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||629149|
|Published||Content info||132 Pages
Delivery time: 2-3 business days
|Acaricides Market - Growth, Trends, and Forecast (2020 - 2025)|
|Published: April 1, 2020||Content info: 132 Pages||
The Global Acaricides Market is expected to witness a CAGR of 4.2% over the forecast period (2019 - 2024). It has been estimated that the yield losses due to attacks by mites could be as high as 13.8% in many crops. Mites survive in dry weather and with an increase in the global temperatures, mites have found their way as an important pest.
Mites are important pests in agriculture, not only because of the damage that they cause to crops by themselves but also because of their role as a vector of viral diseases. Acaricides are crop protection chemicals used to control mites. The market for acaricides has been segmented by type into organophosphates, carbamates, organochlorines, and pyrethrins. Major crop types have been covered as part of the scope. The report also contains a section on the segmentation of the acaricide market based on geography.
Need For Increasing Agricultural Productivity
The need to feed an ever-growing population, decreasing arable land and increasing demand for sustainable agricultural practices, are some of the major drivers for the increasing demand of acaricides. Agricultural production is likely to grow in two-folds, over the next few years, in order to meet the demand from the growing population, which, in turn, increases the usage of acaricides. Certainly, technology is expected to play a major role in the manufacturing of acaricide products. Increase in urbanization and less availability of arable land are motivating farmers to adopt efficient crop-protection techniques. There is a broader acceptance and recognition of the increasing benefits of acaricides. With the steep decline in the per capita arable land, contrasting to the rising population, the crop yields must increase to meet the increasing food demand in the Asia-Pacific region. Owing to the above factor, an increase in demand for acaricides products and agricultural production is being witnessed.
Increasing Usage of Acaricides in Asia-Pacific Region
The agricultural industry in Asia-Pacific is evolving rapidly, China and India are the major consumers of acaricides. As of 2016, Asia-Pacific has been dominating the global market with a share of 37%, followed by North America and Europe. The market in Asia-Pacific is growing at an impressive rate, especially in agriculture, due to the increasing usage of crop protection chemicals to control the spread of tick and mite-borne diseases. The major growth drivers of this market are, developing crop protection industry and the rise in demand for crop and animal feed. Asia-Pacific region is one of the largest consumers of acaricides, in terms of volume. It is also one of the fastest-growing markets, in terms of value for acaricides in the world with agriculture being one of the major applications.
The market for agricultural acaricides is fairly consolidated with few major players occupying more than 40% of the market. Key participants in the global agricultural acaricides market are BASF SE, Arysta LifeScieneces, Bayer Ag, FMC Corporation, etc. Other than the global leaders, there are many small local players active in the region trying to capture a fraction in the growing market. The market here is witnessing rapid growth in terms of product innovation, with a focus on increasing retail availability of various acaricides products.