Market Trends of Europe Acaricides Industry
This section covers the major market trends shaping the Europe Acaricides Market according to our research experts:
Need for Increasing Agricultural Productivity
The need to feed an ever-growing population, decreasing arable land, and increasing demand for sustainable agricultural practices, are some of the major drivers for the increasing demand of acaricides. Agricultural production is likely to grow in two-folds, over the next few years, in order to meet the demand from the growing population, which, in turn, increases the usage of acaricides. Certainly, technology is expected to play a major role in the manufacturing of acaricide products. An increase in urbanization and less availability of arable land are motivating farmers to adopt efficient crop-protection techniques. There is are a broader acceptance and recognition of the increasing benefits of acaricides. With the steep decline in the per capita arable land, contrasting to the rising population, the crop yields must increase to meet the increasing food demand in the region. Owing to the above factor, an increase in demand for acaricides products and agricultural production is being witnessed.
Rising Demand for Bio-based Acaricides.
According to the Research Institute of Organic Agriculture, the organic farmland in Europe accounted for 15,635.504 Thousand ha in 2018 up from 13,535.234 Thousand ha in 2016 reflecting the rising demand for organic farming in the region. This scenario has in turn paved the way for the increased demand for organic or biobased acaricides to treat the mite infestation in the organic field. Acaricides because of the safety concerns and increased organic land has led to the development of organic or biobased acaricides like "ESTEN 80" a bio-based acaricide developed by the TENSAC (AR), a South American company, is a fatty acid derivative from vegetable oil and sucrose. Currently, there are so many suppliers and manufacturers of "ESTEN 80" acaricide in the European market. The biodegradable property and safety advantage gains more popularity for such products in a region that is more supportive of organic farming. Moreover, as per CropLife America, it takes nearly 10-12 years and an investment of USD 300.0 million for developing a chemical pesticide. On the contrary, a bio-based pesticide/Acaricide can enter the market in 3-5 years, with roughly USD 3.0-5.0 million development cost.
