Market Trends of Acaricides Industry
This section covers the major market trends shaping the Acaricides Market according to our research experts:
Need for Increasing the Productivity
With the growing population and urbanization have resulted in declining arable land. In order to increase the production with the available land, area producers are reaching out for crop protection chemicals such as acaricides to protect the crop from mite infestation. 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. For instance, in 2016, cereals yield was 52,038 hg per ha which has decreased to 46,714 hg per ha in 2018. The increasing infestation from mites/ticks and pests is causing health hazards to the worldwide population which is increasing the disease burden. To overcome the issue producers started to prefer the application of chemicals which will drive the market for acaricide.
Brazil Dominates the Market
Brazil has been recognized as the world's largest consumer of crop protection chemicals owing to the higher production of cereals and other crops in the country. In 2017 and 18 Brazil has approved several crop protection chemicals to lower the price of the products, which in turn lowers the cost of production. In Mato Grosso, the largest producing state, pesticides account for 22 percent of the spending on the soybean crop. Soybeans, rice, wheat, potato, and tomato and some fruit crops are some of the crops in the region that are possibly infected with mites. For instance, according to FAO, in 2016, cereal production was about 84.16 million tons that increased to 117.97 million tons in 2017 and then decreased to 103.06 million tons in 2018. Thus, to ensure stable production, producers are preferring crop protection chemicals. According to Brazilian Institute of the Environment and Renewable Natural Resources, the total sales of formulated chemical and biochemical products in Brazil reached 549,280 tons in 2018, an increase of 1.72% compared to the previous year of which Acaricide & Fungicide was 34,906.17 tons Insecticide & Acaricide was 26,601.32 tons and acaricide amounted to 6,779.09 tons.
