- The Global Miticides Market is expected to register a CAGR of 6.07% from 2019 to 2024.
- Miticides are chemicals, used to manage and control mites attacking crops.
- An increasing awareness and adoption of advanced farming practices and modern techniques are anticipated to drive growth of the global miticides market.
The Global Miticides Market is expected to register a CAGR of 6.07% from 2019 to 2024 and reach $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 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 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. An increasing awareness and adoption of advanced farming practices and modern techniques are anticipated to drive growth of the global miticides market.
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.
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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.
By crop type, the global miticides market has been segmented into horticultural crops, field crops, and turf and ornamentals. The horticultural crops segment accounted for the largest market share in 2017 and is expected to continue leading the market during the forecast period. The growing demand for fruits and vegetables due to the rising population and increasing per-capita income is boosting the growth of the product market.
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).
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.