Acaricides Market Statistics By Region, Segments & Company Till 2031

(MENAFN- Straits Research) Introduction

Acaricides are chemical products of specialized compounds designed to eliminate or control populations of ticks and mites. In agriculture, horticulture, and veterinary medicine, mites and ticks, classified as Arachnida, are frequently regarded as pests. These pests can penetrate and propagate across crops, animals, and humans, leading to many complications such as plant devastation, the transmission of diseases, and irritation or illness in both animals and humans. Acaricides control mite and tick infestation, thereby protecting crops, livestock, and even humans from the harmful effects of these pests.

Market Dynamics Increasing Demand for Bio-Based and Organic Acaricides Drives the Global Market

The global acaricides market expansion is propelled by the increasing demand for organic and bio-based acaricides, resulting from a growing interest in natural products and sustainable agricultural methods. Bio-based acaricides are produced from plants, microbes, and minerals, among other natural sources. These acaricides' toxicity and environmental impact are diminished compared to synthetic acaricides. Organic acaricides, which comply with organic regulations and standards, are preferred by consumers concerned about synthetic pesticide residues in food.

The expanded practice of organic farming and mounting environmental concerns contribute to the rising demand for bio-based and organic acaricides. According to the Research Institute of Organic Agriculture (FiBL), worldwide organic agriculture expanded by 1.1 million hectares in 2019, bringing the total to 72.3 million hectares. Similarly, the initiative to develop additional bio-based acaricides has increased significantly. To manage tick and mite infestations in livestock and pets, the Indian Veterinary Research Institute (IVRI) and the National Botanical Research Institute (NBRI) in Lucknow have worked together to develop a biodegradable herbal acaricide.

The emergence of novel and inventive acaricides that exhibit enhanced performance, efficiency, and safety compared to existing products is expected to generate opportunities for market growth. Developing novel acaricides may involve applying advanced nanotechnology, biotechnology, and genetic engineering methods. These technologies enhance the administration, efficacy, and delivery of acaricides.

For instance, nanotechnology can produce nano-formulations of acaricides, improving their solubility, stability, penetration, and release. Biotechnology makes the production of bio-pesticides that exhibit selectivity towards mites and ticks while avoiding harm to non-target organisms possible. Genetic engineering permits the modification of animals and crops to confer resistance to or resistance against infestation by mites and ticks. Therefore, market participants in the acaricide market may gain a competitive edge and profitable market opportunities by developing novel and inventive acaricides.

Regional Analysis

Asia-Pacific is the most significant global acaricides market shareholder and is estimated to expand substantially during the forecast period. The substantial agricultural sector in the Asia-Pacific region is anticipated to contribute significantly to the region's market share dominance in the acaricides industry throughout the forecast period. Over the past decade, nearly 19% of global agriculture and food exports originated in the Asia-Pacific region, which thus holds a prominent position in the global food chain. Moreover, the Food and Agriculture Organization and the Organization for Economic Co-operation and Development claim that the Asia-Pacific region comprises thirty percent of the world's agricultural sector. The wide-ranging agricultural techniques utilized in countries such as India, China, Thailand, and others are responsible for this phenomenon. China is a significant consumer and producer of agricultural inputs. Moreover, in 2020, the nation possessed an estimated 119.474 million hectares, or nearly 8%, of the world's arable land, as reported by FAOSTAT.

Moreover, according to the United Nations, the Asia-Pacific area is home to more than 60 percent of the global population and is expected to significantly expand in the foreseeable future. The region is characterized by a substantial and expanding population, rising wealth, and a rapidly expanding middle class. Thus, the demand for food, agricultural commodities, and resources will continue to increase. The Asia-Pacific acaricides market is anticipated to be propelled by this. Asia-Pacific is also the region with the most rapid adoption of bio-based and organic acaricides, a rising mite and tick infestation incidence, and a high demand for food quality and security.

Key Highlights

• The
  global acaricides market size
  was valued at
  USD 335.48 million in 2022 . It is estimated to reach
  USD 481.64 million by 2031 , growing at a
  CAGR of 4.1%
  during the forecast period (2023–2031).
• Based on type, the global acaricides market is segmented into organophosphates, carbamates, organochlorines, pyrethrins, pyrethroids, and others.
  The organophosphates segment owns the largest market share.
• Based on application, the global acaricides market is bifurcated into agriculture, animal husbandry, industrial, and others.
  The agriculture segment dominates the global market.
• Based on the mode of application, the global acaricides market is segmented into dipping, spraying, hand dressing, and others.
  The spraying segment is the highest contributor to the market.
• Asia-Pacific is the most significant global acaricides market shareholder and is estimated to expand substantially during the forecast period.