Miticides Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Miticides Market is segmented By Source (Biological, Chemical), By Crop Type (Fruit and Vegetables, Cereals and Grains, Oilseeds and Pulses, Others (turf & ornamentals and cash crops)), By Application (Foliar Spray, Soil Treatment), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Miticides Market Overview

The Global Miticides Market is expected to grow at a CAGR of 4.9% during the forecast period (2024-2031). 

Insects are one of the most diverse species living on our planet. Most insects are beneficial to the environment; some insects pose a threat to countries and regions. Herbivorous insects are known to destroy one-fifth of the world’s total annual crop production. Mites are small insects belonging to the class of Arachnida. These are plant parasites that feed on the leaves of the plants. Mites also affect the fruit of the trees by changing the flavor and skin of the fruit. A large number of mites infestation/attack can result in the death of the crop. Some of the harmful insects or bugs are Spider Mits, Aphids, Caterpillars, Colorado potato beetle, etc.

Miticides Market Summary 

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Miticides Market Dynamics 

The global miticides market growth is mainly driven by increasing concern for food security and better crop efficiency. Besides, the presence of favourable government reforms to expand the agricultural sector further boosts the market growth.

High efficiency of miticides & rising concern for food security
A surge in food security concerns across the globe and increasing awareness among people to protect their food crops from mites and pests significantly drive the product demand. According to the US Department of Agriculture, in 2019, 89.5% (around 116.0 million) of US households were food secure throughout the year. The remaining 10.5% (approximately 13.7 million)of households were food insecure at some point of the year, including 6.4 per cent (about 8.3 million) of U.S. households had low food security throughout 2019. Moreover, between 2016 and 2018, 5.6% of the UK population were expected to have witnessed food insecurity based on FAO’s globally set threshold for food insecurity. Thus, the growing concern for food security and rising food demand catering to the ever-growing population has counselled the farmers to use miticides for higher agricultural yield. Furthermore, the United Nations “Zero Hunger Vision by 2030” mission focuses on ending hunger and doubling the agricultural productivity and incomes of small-scale food producers are expected to propel the demand for miticides. 

Growing government initiatives to improve the agricultural sector by providing subsidies
The government bodies of various countries focus and spend heavily on agriculture as it is an effective way to enhance agricultural productivity. For instance, in 2016, as per China’s Ministry of Agriculture, more than 1,300 Chinese enterprises had overseas investments in forestry, agriculture, and fisheries valued at USD 26 billion. Moreover, in April 2020, the Ontario and Canadian governments invested significantly up to USD 2.5 million to boost the agri-food sector. Thus, on account of various initiatives carried out by the government, agricultural production is increasing in various countries. Thus, with the ramping up of crop production, the demand for miticides increases the crop yield, which acts as a key driver for the miticides market.

Harmful effects of miticides on humans and increasing adoption of organic farming
Though miticides are majorly used to increase crop productivity by eliminating ticks and mites, their harmful effect on human health is hampering the market growth. High exposure to miticides is likely to cause many diseases, such as malnutrition, cancer, metabolic syndrome, inflammation, anxiety, atherosclerosis, weakness, memory loss, and kidney failure. Moreover, government restrictions on the use of organophosphate compounds and policies such as the National Mission of Sustainable Agriculture (NMSA), Paramparagat Krishi Vikas Yojana (PKVY), and National Project on Organic Farming (NPOF) for enhancing organic farming is hindering the product demand. According to the Research Institute of Organic Agriculture (RIOC), the organic arable land in Asia increased by 25 per cent in 2017 and reached around 6.1 million hectares, considerably affecting the market growth.

COVID-19 Impact Analysis on Miticides Market

Food distribution channels of almost all countries worldwide have been substantially disrupted due to the COVID-19 pandemic. The disruption of the supply chain resulted in considerable losses to the farmers. World Trade Organization (WTO) estimated that global trade would fall by between 13% and 32% in 2020 as the coronavirus pandemic disrupted regular economic activity and life worldwide. Additionally, India’s fruits and vegetable export reduced by 16% and reached USD 1 billion between April 2019 and January 2020, from USD 1.19 billion from the same period in the previous year. Thus, a decline in the growth of the agricultural sector restrains miticides market growth.

Miticides Market Segmentation Analysis

Based on crop type, the global miticides market has been categorized into fruits & vegetables, cereals & grains, oilseeds & pulses, and others (turf & ornamentals and cash crops). 

The fruits & vegetable segment will dominate the global miticides market.
The fruits & vegetable segment held the largest market share due to rising health-consciousness among consumers and increasing purchasing power, resulting in increased consumption of a broad variety of products, particularly vegetables & fruits. Emerging countries in the Asia Pacific provide ample opportunities for the miticides market players, owing to the large fruit-growing industries in key countries such as China, India, and Southeast Asian countries. 

Based on the source, the global miticides market has been bifurcated into biological and chemical.

The chemical segment witnessed the largest share in the global miticides market.
The chemical source garnered the largest market share due to its effectiveness and ability to destroy mites and ticks faster. The use of synthetic chemical miticides for crop and plant protection is substantially growing. Many specific miticides have been introduced that are relatively less toxic to predaceous mites than phytophagous mites and help control the population of phytophagous mites. Chemicals affect mite's essential biological processes or systems such as metabolic energy production, growth, or the nervous system, which leads to the disruption or change in development, metabolic, and other physiological functioning within the mites and results in the death of ticks and mites.

Miticides Market Geographical Share

The Asia Pacific is estimated to dominate the global miticides market.
The Asia Pacific is estimated to hold the largest share in the global miticides market. This is mainly ascribed to the rising awareness about miticides and continuous technological developments. Additionally, the increasing demand for crops and growing cultivation in the emerging countries of Asia Pacific have forced agribusiness companies to boost their supplier and manufacturing base in the region. For instance, in 2018, United Phosphorus Ltd expanded its product portfolio by launching new insecticides in India. Also, significant growth in population in China and India creates considerable pressure on crop production, thus to cater to the rising demand for crops, there is a substantial growth of miticides market across the region.

Miticides Companies and Competitive Landscape 

The miticides market is highly competitive with the presence of domestic as well as global companies.  Some of the key players which are contributing to the growth of the market include BASF SE, Bayer AG., Syngenta, Nihon Nohyaku Co., Ltd., Gowan Company, LLC, DuPont, ADAMA, Arysta Lifescience, FMC Corporation, Shanghai Sinogreatland Industrial Co., Ltd., Shijiazhuang Ageruo-Biotech Co., Ltd., Shijiazhuang Ageruo-Biotech Co., Ltd., Wuhan UNIOASIS Biological Technology Co., Ltd., Shenzhen Horizon Industry Co., Ltd., among others. Key product manufacturers have their presence in the North American and European countries. 

BASF SE 
Overview: BASF SE was founded in the year 1865. It is a German multinational company with over 117,000 employees in the BASF Group working in almost all sectors worldwide. The company primarily operates under six segments: materials, chemicals, industrial solutions, nutrition & care, surface technologies, and agricultural solutions. BASF generated sales of USD 59 billion in 2019. Nealta miticide brand provides a uniform mode of action for control of all spider mite life stages.
Product Portfolio: The Company’s portfolio comprises products and services in surface technologies, chemicals, nutrition & care, industrial solutions, materials, and agricultural solutions.