Global Acaricides Market to Grow at a CAGR of 5% During 2024-2032, Driven by the Rising Crop Protection

Acaricides are used to effectively control mites and ticks on both plants and animals. The growing demand for eco-friendly and biopesticides is a major driver for the market growth. Resistance development and the commercial availability of compounds with novel modes of action also contribute significantly to the market growth. As the production of various fruits and vegetables, such as grapes, soybean, cotton, and corn, is expected to increase with the rise in demand, the demand for acaricides to enhance the productivity and quality of the crop is also predicted to rise.

As they can be used as sprays, spot-ons or incorporated into plastics, they offer easier application and more prolonged efficacy; this further lubricates the industry growth. The rise of disposable income and the emergence of the middle class have resulted in the growing demand for quality and organic food. As acaricides functions as an eco-friendly and harmless pesticide, it is widely used for crop protection, consequently boosting the market growth. The growing reliance on the internet and the e-commerce platform, along with the wide availability of acaricides, is also expected to aid the market growth of acaricides.

Various technological advancements and innovations are substantial to the growth of the market. The leading players hence are continuously researching and launching new products that offer better quality. Bayer AG (ETR: BAYN), one of the key players of the acaricides industry, launched Oberon® SC 240, a new acaricide, in January 2019. With various innovations such as the ketoenol technology, Oberon offers a new mode of action for whitefly and spider mite control and has a high level of lasting efficacy. Moreover, it decreases the fertility of adult female firefly and controls the developmental stages of spider mite. Additionally, the product is eco-friendly and shows no cross-resistance to other pesticides and acaricides. Developments such as these are expected to promote the growth of the acaricides industry in the forecast period.

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Market Analysis by Chemical Type, Mode of Action, Application, and Region:

• The market on the basis of chemical type can be divided into organophosphates, carbamates, organochlorines, pyrethrins, and pyrethroids, among others.
• Based on the mode of action, the industry can be divided into spray, dipping, and hand dressing, among others.  
• The applications for acaricides include agriculture, animal husbandry, and industrial, among others.
• The regional markets for acaricides include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The rising demand for organic food due to rising health-conscious consumers is boosting the growth of the industry.
• Rapid urbanisation and the rising population are aiding the market growth as the demand for food products to cater to rising population is also increasing.
• The increasing environmental consciousness is lubricating the acaricides industry as it is an eco-friendly product.
• Various technological advancements and innovations is expected to boost the market growth over the forecast period.

Key Offerings of the Report:

• The EMR report gives an overview of the global acaricides market for the periods (2018-2023) and (2024-2032).
• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the chemical type, mode of action, and applications, and regions of acaricides.
• It assesses the regional price trends for the (2018-2023) and (2024-2032) periods. 
• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global acaricides industry are Syngenta Crop Protection, Bayer AG, UPL Europe Limited, and Corteva Agriscience, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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