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The global acaricides market size is anticipated to showcase considerable growth during the forecast period of 2024-2032. acaricides are pesticides or crop protection chemicals formulated to destroy the attack of mites or ticks in farms. The spread of mites or other pests can seriously threaten the quality of agricultural produce, building a lot of pressure on the growers. The application of chemical acaricides with new modes of action is recognized as one of the ideal methods to stop the occurrences of tick-borne diseases.
Acaricides contain active ingredients such as permethrin, cyfluthrin, and pyrethrin, which are helpful in controlling the infection caused by ticks at homes or other premises. These properties are fueling the product demand from farmers across the globe. However, acaricides impart some harmful effects to the produce. Therefore, naturally originated products such as neem or clove are used for product development.
The product usage has been increasing rapidly over the last few years due to the growing awareness about the importance of animal husbandry and enhanced productivity due to the extensive benefits of acaricides. Moreover, factors such as high-efficiency and government initiatives, including different strategies and schemes to promote product usage, are augmenting the global acaricides industry size. However, the high raw material cost and certain stringent regulations by government agencies in some countries may hinder the acaricides market growth.
The outbreak of the COVID-19 pandemic has significantly affected the demand for agrochemicals in the market. To curb the spread of coronavirus, the governments imposed a worldwide lockdown, which has negatively impacted the mass-production and distribution chain across the globe. The rising cases and increased shortage of labor, combined with closed production facilities, led to poor production amid the pandemic period. However, the surging demand for safe quality produce and the rise in sustainable agricultural practices, offered positive opportunities for farm products.
The report will cover the following key insights:
Based on application, the global acaricides market is segregated into agriculture, animal husbandry, industrial, and others. Of these, the agriculture sector is expected to hold the maximum revenue owing to the rising demand from farmers for effective solutions in the agri-business. Some of the majorly used crop protection solutions include organophosphorus compounds, neonicotinoids, lactones, and organochlorine compounds. Growing economies and the increased demand for high value-added yields are the crucial factors attracting farmers’ attention from across the globe.
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Due to the rapid evolution, Asia Pacific acaricides industry share is anticipated to witness prominent growth over the forecast period. The rise in sustainable agricultural practices demand natural products. Another pivotal factor impelling regional growth is the increasing awareness about environmental concerns.
The Europe market size is expected to surge at a considerable pace in the upcoming years. This is due to the surging demand from growers and the increasing expansion of agri-industries in the region. These factors are estimated to propel the global acaricides market growth.
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