Acaricide Market is Estimated to Register a Strong CAGR of 4.3% CAGR from 2022 to 2032
The Global Acaricide Market is forecast to be worth US$ 399.8 million by 2032, up from US$ 262.4 million in 2022 and the forecast period achieve a CAGR of 4.3%. In agriculture and livestock, acaricides and acaricides are practical pesticides to prevent disease and protect livestock and crops.
A growing population, shrinking arable land and a drive towards environmentally responsible agriculture are all contributing to the increase in the use of miticides worldwide. Acaricides are pesticides that kill ticks and mites and help animals gain immunity against various infectious diseases. Acaricides work by interfering with the nerves, muscles, respiration and growth of mites and ticks.
Cattle farmers need to use acaricides to prevent tick infestation and injury to animals. Losses due to tick infestations can be considerable and ticks cause paralysis and physical damage to cattle. Some acaricides might be toxic to fishes and other wildlife and have to be applied cautiously to prevent damage to ecosystem.
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A large variety of diseases are transmitted by ticks that severely affect the livestock. Major diseases transmitted by ticks include theileriosis, heartwater, anaplasmosis, and babesiosis. In order to stop the transmission of diseases, the ticks need to be killed before they feed on vulnerable animals and transmit diseases to other organism.
Use of chemical acaricides is the most common and effective method of killing ticks. Emerging economies such as Asia pacific, Latin America and Eastern Europe represent major markets for acaricides due to high cattle farming in these regions.
Rising population is triggering high demand for agricultural output and meat consumption globally. Growth in crop and meat consumption is further expected to boost the global acaricides market over the forecast period of 2016-2026.
Drivers and Restraints
Emerging markets such as Brazil, India and China, with rapidly growing populations and faster economic growth, have steadily increased their meat as well as crop/ grain consumption. The increase in consumption of meat is expected to be major driver for acaricides market growth globally.
The rising demand for dairy products and new developments in crop industry are also among key driving factors for the acaricides market.
However, certain species of ticks and mites have developed resistance to acaricides, which pose certain limitations to acaricides market growth. High raw material cost and various stringent government regulations are also expected to hamper the growth of acaricides market over the forecast period.
Regionally, the acaricides market is segmented into seven key regions namely- North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Middle East & Africa and Japan. Emerging economies of Asia Pacific, Latin America and Eastern Europe are expected to represent fastest growth in global acaricides market.
China and India are major consumers of acaricides due to intensive cattle farming. The use of acaricides to the control ticks growth has improved the viability of cattle farming in these countries. In contrast, demand for acaricides in North America, Western Europe, Japan, and South Korea will be moderate due to market maturity and already high use rates.
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Some of the key players included in this study of global acaricides market are Bayer AG, Syngenta, Monsanto, DuPont, BASF SE, The Dow Chemical Company, Makhteshim, Nufarm, Sumitomo Chemicals and Arysta Lifescience.
Acaricide Market Segmentation
Acaricides market is segmented on the basis of type, application, mode of application and region.
On the basis of type, the acaricides market is segmented into the following segments:
- Chlorinated hydrocarbons
- Organo-phosphorous compounds
On the basis of application, the acaricides market is segmented into the following segments:
- Animal husbandry
On the basis of mode of application, the acaricides market is segmented into the following segments:
- Dipping vat
- Spray race or Spray dip machine
- Hand dressing
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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