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Global Acaricide Market size is predicted to reach $438.8 Million by 2030, growing at a CAGR of 4.4% during the forecast period 2024-2030 according to the latest market research report published by IndustryARC. Modern agricultural techniques being adopted by farmers worldwide to improve productivity per hectare is poised to propel the market growth, finds IndustryARC in its recent report, titled “Acaricide Market – By Type (Organophosphorus Compounds, Carbamate, Arsenicals, Natural Sources, and Others), By End Use (Agriculture, Animal Husbandry, Industrial, Domestic (Households), and Others), By Geography – Global Opportunity Analysis & Industry Forecast, 2024-2030”
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North America to Register Highest Growth:
In 2023, North America held the third-largest market share for Acaricide, after Europe and South America. The demand for Acaricide in emerging economies like the U.S., Canada, and Mexico is primarily driven by the growing demand for pesticides. The market in these countries is expected to increase in the forecast period due to the increasing usage of pesticides in various applications. The demand for Acaricide in these regions is anticipated to rise as the agricultural sector continues to expand, driven by the need for crop protection chemicals to ensure high-quality crops and animal feed.
Acaricide Market 2024-2030: Scope of the Report
|
Report Metric |
Details |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
CAGR |
4.4% |
|
Market Size in 2030 |
$438.8 million |
|
Segments Covered |
By Type, By End Use, and By Region |
|
Geographies Covered |
North America (U.S, Canada, and Mexico), Europe (U.K., Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), APAC (China, Japan, India, South Korea, Australia, Taiwan, Indonesia, Malaysia, and Rest of Asia Pacific), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and RoW (Middle East and Africa). |
|
Key Market Players |
1. Bayer AG 2. Syngenta 3. BASF SE 4. Corteva 5. FMC Corporation 6. UPL 7. Nissan Chemical Industries Ltd. 8. Adama Agricultural Solutions Ltd. 9. Nufarm 10. Indofil Industries Limited |
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Acaricide Market Report – Key Takeaways:
Organophosphorus compounds, used in pest control, are organic compounds containing phosphorus. Highly effective insecticides, they account for many insecticides used in food crops. Organophosphate insecticides damage acetylcholinesterase, an enzyme critical for nerve signal control in pests, killing them. The growing demand for Organophosphorus will raise the market demand for Acaricide in the forecast period.
The agriculture sector held the largest share in the Acaricide market in 2023, projected to grow at 4.1% CAGR during 2024-2030. Acaricides are pesticides used to kill mites and ticks, protecting crops and livestock from economic damage and disease transmission. With the growing agriculture sector, the demand for Acaricides is expected to increase in the forecast period.
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Key Opportunity Analysis:
Acaricides Market Driven by Livestock and Poultry Industry Expansion
The growing demand for acaricides can be primarily attributed to the expansion of the livestock and poultry industry globally. As the demand for animal-based proteins continues to rise, driven by population growth and changing dietary preferences, the need to protect livestock and poultry from tick-borne diseases has become increasingly crucial. Acaricides, which are pesticides used to control mites and ticks, play a vital role in maintaining the health and productivity of farm animals, thereby supporting the growth of the livestock and poultry sector. Moreover, the increasing awareness among farmers and animal husbandry professionals about the economic and health implications of tick infestations has further fueled the adoption of acaricides, creating lucrative opportunities for market players to capitalize on. This positive trend is expected to continue, driving the expansion of the acaricides market in the coming years.
Opportunities in the Acaricide Market due to the Innovative Formulations that Drive Market Expansion
The acaricides market is poised for significant growth, driven by the development of new and improved formulations that offer higher environmental safety, longer residual effects, and increased potency. These advancements are opening up opportunities for farmers and pest management specialists to effectively manage mite and tick infestations, which is crucial for protecting crops, livestock, and human health. The growing demand for high-quality and abundant food production, coupled with the increasing awareness of various livestock diseases transmitted by ticks, is further fueling the market’s expansion.
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The report also covers the following areas:
Acaricide Market 2024-2030: Key Highlights
Covid and Ukrainian Crisis Impact:
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List of Key Market Players in the Acaricide Market:
The Global Acaricide Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:
Related Reports:
Pesticides Market: The importance of pesticides has increased significantly over the last few decades, catalyzed by the need to enhance agricultural output and ensure adequate food availability for the growing global population.
Pesticide Preparations Market: The efficacy of pesticides in promoting plant health is said to be a preeminent driver driving the growth of the Pesticide Preparations Market. Harmful toxins of pesticides can set many health issues in motion which is said to reduce market growth.
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