Miticides Market Key Insights Profiling Companies and Growth Strategies 2028

The "Miticides Market" size is expected to grow from US$ 996.48 million in 2022 to US$ 1,352.39 million by 2028; it is estimated to register a CAGR of 5.2% from 2022 to 2028.

Miticides are chemical pesticides that are specifically manufactured to kill rodents, mice, and ticks. In recent years, the growing awareness regarding the harmful effects of synthetic chemicals used in miticides has surged the demand for bio-based miticides. For years, pesticides have been destroying many of the natural adversaries of formerly innocuous species, along with swiftly inducing resistance in many parasites. Over the years, the green revolution has succeeded in part through the heavy use of chemical fertilizers and pesticides subsidized by governments. Many countries launched production support programs to stimulate agricultural production and achieve food self-sufficiency. Government subsidies resulted in the lower prices of fertilizers, resulting in their overuse, which burdened national fiscal positions and also caused environmental degradation. Thus, various countries began adopting bio-based alternatives to synthetic miticides to control environmental degradation.

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Companies Profiled in this report includes:

• Nihon Nohyaku Co Ltd
• Kemin Industries Inc
• BASF SE
• Bayer AG
• FMC Corp
• Gowan Co
• Syngenta AG
• UPL Ltd
• Oro Agri International BV
• Certis USA LLC

Asia Pacific held the largest share of the miticides market in 2022. The market growth in the region is attributed to the growing fruits & vegetable industry in the region. Asia Pacific countries such as India, China, and Japan are among the top fruit and vegetable-producing countries. According to the Ministry of Agriculture & Farmers Welfare, in 2021, India was the second-largest horticulture producer behind China, producing ~12% of the global fruit and vegetable production. This increased production of fruits and vegetables in Asia Pacific is expected to boost the demand for miticides in the region in the coming years. In addition, increasing government support through policies to promote sustainable agriculture is further driving the market growth in the region.

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Miticides Market Segmentation:

By Source:
• Bio-Based
• Synthetic

By Form:
• Dry
• Liquid

By Crop Type:
• Fruits and Vegetables
• Cereals and Grains
• Oilseeds and Pulses

By geography, the miticides market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Asia Pacific is estimated to register the highest CAGR from 2022 to 2028. The market growth in this region is mainly attributed to growing awareness about crop protection chemicals among farmers, surging government subsidies, and rising food demand due to the increasing population. During the forecast period, the growing demand for excellent agricultural products and organic produce is increasing the need for high productivity and yield, which is boosting the use of miticides in Asia Pacific countries, especially China, Japan, and India. The growing agriculture sector is increasing the product consumption rate in Asian countries. According to the Asian Development Bank, rising incomes and urbanization are affecting food consumption activities across the region.

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