Market Size of Acaricides Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 369.34 Billion |
| Market Size (2029) | USD 471.38 Billion |
| CAGR (2024 - 2029) | 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Acaricides Market Analysis
The Acaricides Market size is estimated at USD 369.34 billion in 2024, and is expected to reach USD 471.38 billion by 2029, growing at a CAGR of 5% during the forecast period (2024-2029).
Due to the COVID-19 outbreak, lockdowns were imposed worldwide, resulting in supply chain disruptions. The outbreak resulted in global shutdowns due to an increase in the number of cases, the shortage of labor, and the closing down of facilities. Such factors led to low production of agrochemicals, including acaricides. Thus, the pandemic indirectly impacted acaricide supplies on a global level.
Over the long term, the growing food demand with expanding population, decreasing arable land, increasing demand for natural products, and increasing demand for sustainable agricultural practices may increase the demand for acaricides. 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 increasing global temperatures add to this problem. The acaricides market is projected to grow rapidly due to the increasing incidences of prolonged dry spells worldwide in recent years. However, the strict regulations over the use of acaricides are expected to restrain the market's growth in the coming years.
Fruits and vegetables grown in the sub-tropical and temperate zones are most susceptible to mites. The Asia-Pacific market 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.
Acaricides Industry Segmentation
Acaricides are crop protection chemicals used to control mites. Mites cause severe problems in agriculture as they damage crops by themselves and spread viral diseases. The acaricides market is segmented by type, application, and geography. The report offers market estimation and forecast in value (USD million) for the above-mentioned segments.
| Chemical Type | |
| Organophosphates | |
| Carbamates | |
| Organochlorines | |
| Pyrethrins | |
| Pyrethroids | |
| Other Chemical Types |
| Application | |
| Spray | |
| Dipping | |
| Hand Dressing | |
| Other Applications |
| Geography | |||||||||
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Acaricides Market Size Summary
The acaricides market is poised for significant growth over the forecast period, driven by increasing global food demand and the need for sustainable agricultural practices. The market is experiencing a resurgence as the agricultural sector seeks to combat yield losses caused by mite infestations, which are exacerbated by rising global temperatures and prolonged dry spells. Despite the challenges posed by strict regulations on acaricide usage, the demand for these agrochemicals is bolstered by the expanding population and decreasing arable land. The Asia-Pacific region, particularly China and India, is witnessing rapid market expansion due to the heightened use of crop protection chemicals to manage mite-borne diseases. The market is characterized by a shift towards natural and bio-based products, as environmental concerns and organic farming practices gain traction worldwide.
The acaricides market is consolidated, with major players like BASF SE, UPL, Bayer CropScience, FMC Corporation, and Nissan Chemical Industries Ltd holding significant market shares. These companies are at the forefront of product innovation, introducing new acaricides that are effective across all life stages of mites while being compatible with beneficial insects. The market is also seeing increased retail availability of various acaricide products, catering to the growing demand for natural crop protection solutions. Notable product launches, such as BASF's Nealta and Oro Agri's Oroganic, highlight the industry's focus on developing sustainable and effective solutions to combat agricultural pests. The ongoing advancements in acaricide formulations and the strategic partnerships among key industry players are expected to further drive market growth in the coming years.
Acaricides Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitutes
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Chemical Type
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2.1.1 Organophosphates
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2.1.2 Carbamates
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2.1.3 Organochlorines
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2.1.4 Pyrethrins
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2.1.5 Pyrethroids
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2.1.6 Other Chemical Types
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2.2 Application
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2.2.1 Spray
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2.2.2 Dipping
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2.2.3 Hand Dressing
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2.2.4 Other Applications
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 Spain
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2.3.2.4 France
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2.3.2.5 Italy
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2.3.2.6 Russia
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2.3.2.7 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 India
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2.3.3.3 Japan
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2.3.3.4 Australia
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Africa
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2.3.5.1 South Africa
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2.3.5.2 Rest of Africa
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Acaricides Market Size FAQs
How big is the Acaricides Market?
The Acaricides Market size is expected to reach USD 369.34 billion in 2024 and grow at a CAGR of 5% to reach USD 471.38 billion by 2029.
What is the current Acaricides Market size?
In 2024, the Acaricides Market size is expected to reach USD 369.34 billion.
