Miticides, also known as acaricide are a type of harmful chemical compounds designed for the prevention of mite prevalence in agricultural crops of different kinds. These chemical compounds are harmful for mites and referred to as killing agents for mites. Due to the complications in targeting mites, these chemical compounds are experiencing high demands from ornamental crops or food based plants due to the preference of ticks and mites towards these crops.
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Miticides market is growing due to increasing awareness and constant innovations, increased demand for high yield from crops, the effects of these factors are mentioned below:
Innovations of technologies in the products being launched by the different market players:
The market is segmented on the basis of source as biological and chemical. Mode of application has been segmented into foliar spray, soil treatment and others. Crop type includes fruits & vegetables, cereals & grains, oilseed & pulses and others.
“According to Data Bridge Market Research, Global Miticides Market is expected to reach USD 1.81 billion by 2026, growing with a CAGR of 5.3% during the forecast period of 2019 to 2026”
Some of the major players operating in this market are Syngenta, Gowan Company, BASF SE, Bayer AG, Arysta LifeScience Corporation, FMC Corporation, UPL, Mantis Plant Protection LLC, and DowDuPont.
With the focus of agricultural industry on meeting the significant rise in demands for raw food products which has been caused by a global rise of population levels, the agricultural industry has initiated the adoption of integrated pest management (IPM) methods to improve their yields and enhance the levels of protection available to their crops against different insects, weeds, mites, ticks and various other forms of potentially harmful microbes.
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Global Miticides Market– Industry Trends and Forecast to 2026