Miticides Industry Report By Size, Global Research Key Growth by Types, Applications, Geography Forecast To 2024

Market Scenario

The Global Miticides Market is expected to register a CAGR of 6.07% from 2019 to 2024 and reach USD 2.58 billion by the end of 2024. Mites are small organisms, belonging to the class of Arachnida. They are plant parasites, feeding on the leaves of the plants. They also affect the fruit of the trees by changing the flavor and skin of the fruit. A large number of mites infestation may lead to the death of the crop. Miticides are chemicals, used to manage and control the mites, attacking crops. The application of miticides on crops helps to decrease the loss in productivity, generally caused by mites, which is driving the growth of global miticides market. The increasing awareness and adoption of advanced farming practices and modern techniques are anticipated to drive the growth of the global miticides market.

Market Segmentation

The Global Miticides Industry has been segmented by form, source, mode of application, crop type, and region.

Based on form, the global miticides market has been divided into powder and liquid. The liquid form segment accounted for the larger market share of the global miticides market in 2017. Liquid miticides offer advantages such as no dust formation during spraying, efficient handling, small particle size, and low packaging volume, resulting in the growth of the segment during the forecast period.

Based on source, the global miticides market has been segregated into biological and chemical. The chemical miticides segment held the larger market share in 2017 due to the rapid and targeted response of the product. Furthermore, technological advances in chemical miticides are expected to drive demand during the forecast period.

Based on mode of application, the global miticides market has been categorized as foliar spray and soil treatment. The foliar spray segment led the market in 2017 due to the quick response, and application flexibility of the product.

Competitive Analysis

Some of the key players in the global miticides market are Syngenta (Switzerland), Bayer AG (Germany), Adama Agricultural Solutions Ltd (Israel), FMC Corporation (US), Gowan Company (US), BASF SE (Germany), DowDuPont (US), Certis USA LLC (US), Nissan Chemical Corporation (Japan), Philagro South Africa (Pty) Ltd (South Africa), Arysta LifeScience Corporation (Japan), Dhanuka Agritech Ltd (India), Phoenix Environmental Design Inc. (US), Crop Quest, Inc. (US), and United Phosphorus, Inc. (US).

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Regional Analysis

The global miticides market has been studied with respect to five regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.  Asia-Pacific held the largest market share in 2017, followed by Europe and North America. The Latin American market is expected to witness significant growth, while the market in the Middle East & Africa is likely to grow at a moderate rate during the forecast period.

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Miticides Market Trends Worldwide Future Development Source Forecast to 2023

Mites Market are small arthropods that attack crops. The majority of mites are beneficial to the environment such as predatory mites which include Phystoseiulus, Amplyeius, and Agistemus.  For instance, on 22 February 2017, OHP Inc. introduced a miticide under the brand name Notavo Ovicide for ornamental crops to provide long-term control of eggs and immature stages of two-spotted spider mites and other mites. On 17 February 2017, Gowan USA introduced a miticide/insecticide under the brand Nexter that helps knockdown and control broad mites, rust mites, pear psylla, aphids, whiteflies, spider mites, and leafhopper nymphs. Heavy infestations will result in leaf desiccation, leaf drop, and yield loss. Miticides play an important role in killing and controlling the growth of mites on plants. Global Miticides Market: Information by Form (Powder, Liquid), Source (Biological, Chemical), Mode of Application (Foliar Spray, Soil Treatment), Crop Type (Horticultural Crops, Field Crops), and Region—Forecast till 2023

The US Food Quality and Protection Act restricts the use of chemical miticides above the recommended amount due to their harmful effects on pollinators, birds, and beneficial mites.  Excessive use can lead to high levels of residue, which is expected to hamper the growth of the product market to some extent during the forecast period. However, the correct dosage of chemical miticides and the development of eco-friendly miticides can provide growth opportunities to market players during the forecast period.

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This growth is also influenced by research and development of miticides such as usage in a broad range of crops, targeted knockdown of all life stages of mites with no toxicity to beneficial insects (predatory mites and pollinators), compatibility with integrated pest management (IPM) programs, long residual control, nature-based miticides, and cost-effectiveness. Quick action and easy handling are also boosting the growth of the product market. To meet the growing demand for miticides, companies are incorporating these products into their portfolios.

Segmentation Analysis

The global miticides market has been segmented by form, source, and mode of application, crop type, and region. Based on form, the global miticides market has been divided into powder and liquid. By source, the global miticides market has been segregated into biological and chemical. Based on mode of application, the global miticides market has been segmented into foliar spray and soil treatment.

Regional Analysis

The global miticides market has been analyzed with respect to five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia-Pacific accounted for the largest market share in 2017 and is expected to maintain its dominance during the forecast period. The Latin American market is expected to witness a rising demand for miticides due to the growing agriculture industry particularly in countries such as Brazil and Argentina during the forecast period. The regional market has been growing at a rapid rate over the past decade due to the rising food demand owing to increasing population, lucrative government schemes related to agriculture, and increasing research of agricultural products. Browse the market data and information spread across 100 pages with 59 data tables and 14 figures of the report “Miticides Market Trends Worldwide Future Development Source Forecast to 2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/miticides-market-6353

Key Players and Competition Analysis

Some of the prominent players in the global miticides market are Syngenta (Switzerland), Bayer AG (Germany), Adama Agricultural Solutions Ltd (Israel), FMC Corporation (US), Gowan Company (US), BASF SE (Germany), DowDuPont (US), Certis USA LLC (US), Nissan Chemical Corporation (Japan), Philagro South Africa (Pty) Ltd (South Africa), Arysta LifeScience Corporation (Japan), Dhanuka Agritech Ltd (India).