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Miticides Market - By Crop Type (Fruits & Vegetables, Cereals & Grains, Oilseeds, Turf & Ornamentals), By Product (Chemical Miticides, Biological Miticides), By Form (Dry, Liquid) & Forecast, 2024– 2032


Published on: 2024-07-07 | No of Pages : 240 | Industry : Agriculture

Publisher : MIR | Format : PDF&Excel

Miticides Market - By Crop Type (Fruits & Vegetables, Cereals & Grains, Oilseeds, Turf & Ornamentals), By Product (Chemical Miticides, Biological Miticides), By Form (Dry, Liquid) & Forecast, 2024– 2032

Miticides Market Size

Miticides Market was valued at around USD 1.49 billion in 2023 and is anticipated to grow at a CAGR of around 4.6% between 2024 and 2032.

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The demand for miticides in the market is driven by the increasing prevalence of mite infestations that pose significant threats to crop yields. According to the United States Department of Agriculture (USDA), mite-related crop losses can range from 5% to 30%, depending on the crop type and prevailing environmental conditions. As mites reproduce rapidly and develop resistance to certain pesticides, there is a growing need for effective miticides to mitigate these losses.
 

Miticides Market Report Attributes
Report Attribute Details
Base Year 2023
Miticides Market Size in 2023 USD 1.49 billion
Forecast Period 2024 to 2032
Forecast Period 2024 to 2032 CAGR 4.6%
2032 Value Projection USD 2.23 billion
Historical Data for 2018 - 2023
No. of Pages 200
Tables, Charts & Figures 191
Segments covered Crop Type, Form, Product
Growth Drivers
  • Increasing Global Agriculture Production
  • Growing Adoption of Integrated Pest Management (IPM) Practices
  • Expansion of Horticulture and Specialty Crop Cultivation
Pitfalls & Challenges
  • Development of Resistance in Mite Populations

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One potential pitfall for the miticides market is the development of resistance in mite populations. Prolonged use of certain miticides may lead to the evolution of resistance, rendering those pesticides less effective. This challenge underscores the importance of rotating and diversifying miticide options and emphasizes the need for continuous innovation in the development of new formulations with distinct modes of action.

Miticides Market Trends

There is an increasing emphasis on the development of biological miticides, leveraging naturally occurring organisms like predatory mites or beneficial fungi to control mite populations. Integrated pest management (IPM) strategies are driving innovation, leading to the introduction of selective miticides that target pests while preserving beneficial insects. Additionally, there is a trend towards the development of novel chemical miticides with improved efficacy and reduced environmental impact. Water-soluble formulations and precision delivery systems, such as controlled-release technologies, are gaining prominence, enhancing the ease of application and overall effectiveness. The market is witnessing a continued focus on solutions that align with the principles of sustainable agriculture, addressing the evolving needs of growers and regulatory standards.

Miticides Market Analysis

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Based on crop type, the market is segmented as fruits and vegetables, cereals and grains, oilseeds, turf and ornamentals. Fruits and Vegetables held a majority market value of USD 635.9 million in 2023. Fruits and vegetables are more popular in the miticides market due to several factors. These crops are often high-value and economically significant, making them a priority for effective pest control measures. Fruits and vegetables are more susceptible to mite infestations, as mites can cause considerable damage to the leaves, fruits, and overall quality of the crops. Given the consumers' preference for blemish-free and visually appealing produce, growers of fruits and vegetables are inclined to invest in reliable miticides to ensure the health and marketability of their crops.

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Based on Product, the market is segmented as chemical miticides and biological miticides. Chemical miticides held a dominant market share of around 79% in 2023. Chemical miticides are popular in the miticides market primarily due to their rapid and broad-spectrum efficacy in controlling mite infestations. These formulations often provide a quick knockdown effect, swiftly addressing existing mite populations and preventing further damage to crops. Chemical miticides are favored for their convenience and ease of application, making them suitable for large-scale agricultural operations.

Based on Form, the market is segmented as dry and liquid. Liquid miticides held a dominant market share of around USD 1.02 billion in 2023 and is expected to grow at a lucrative pace till 2032. Liquid formulations offer greater convenience for growers as they are typically ready-to-use or easily mixable, saving time and effort in the application process. The liquid nature allows for uniform coverage on plant surfaces, ensuring effective mite control. Additionally, liquid miticides often exhibit faster absorption and translocation by plants, providing quicker and more efficient systemic protection. This attribute is crucial in addressing mite infestations promptly, especially in high-value crops such as fruits and vegetables. The user-friendly nature of liquid miticides contributes to their widespread adoption.

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North America dominated the market with majority market share and a revenue of USD 519.7 million in 2023 and is anticipated to expand at a significant pace from 2024-2032. The region's extensive and diverse agriculture, coupled with a high level of technological adoption in the farming sector, drives the demand for effective pest control solutions like miticides. The prevalence of commercial-scale fruit and vegetable production, especially in the United States and Canada, contributes to the increased need for miticides as these crops are particularly susceptible to mite infestations. Moreover, stringent regulatory frameworks promoting sustainable agricultural practices and the adoption of integrated pest management (IPM) strategies further stimulate the demand for miticides in North America.

Miticides Market Share

BASF SE and Bayer AG are prominent players with a significant share owing to their extensive research capabilities and diverse product portfolios. Syngenta AG and Sumitomo Chemical Co., Ltd. also contribute significantly with their global reach and innovative formulations. The market is further diversified with the presence of Nufarm Limited, DowDuPont, Jiangsu Yangnong Chemical Co., Ltd., Gowan Company, LLC, and Kumiai Chemical Industry Co., Ltd., offering a range of miticide solutions. The remaining percentage represents various other companies in the market, highlighting the competitive landscape and the importance of strategic positioning and innovation for sustained market presence.

Miticides Market Companies

Some of the major players operating in the miticides industry are

  • BASF SE
  • Bayer AG
  • Syngenta AG
  • Sumitomo Chemical Co., Ltd.
  • DowDuPont
  • Nufarm Limited
  • Jiangsu Yangnong Chemical Co., Ltd.
  • Gowan Company, LLC
  • Kumiai Chemical Industry Co., Ltd.

These players focus on strategic partnerships, new Crop Type launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative crop types and garner maximum revenue in the market.

Miticides Industry News

In September 2023, Syngenta AG introduces Plenum, a broad-spectrum miticide with novel mode of action for controlling resistant mites in fruits and vegetables.

In July 2023, BASF SE unveiled AegisMax, a next-generation miticide combining residual protection with enhanced contact action for extended mite control in cereals and grains.

Miticides market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million & Units in Tons from 2018 to 2032, for the following segments

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Market, By Crop Type

 

  • Fruits and Vegetables
  • Cereals and Grains
  • Oilseeds
  • Turf and Ornamentals

Market, By Product

  • Chemical Miticides
  • Biological Miticides

Market, By Form

  • Dry
  • Liquid

The above Information is provided for the following regions and countries

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Indonesia
    • Malaysia 
  • Latin America
    • Brazil
    • Mexico
    • Argentina 
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Egypt

 

Table of Content

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To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )