Acaricide Market Size Worth $438.8 Million By 2030: IndustryARC

Global Acaricide Market size is predicted to reach $438.8 Million by 2030, growing at a CAGR of 4.4% during the forecast period 2024-2030 according to the latest market research report published by IndustryARC. Modern agricultural techniques being adopted by farmers worldwide to improve productivity per hectare is poised to propel the market growth, finds IndustryARC in its recent report, titled “Acaricide Market – By Type (Organophosphorus Compounds, Carbamate, Arsenicals, Natural Sources, and Others), By End Use (Agriculture, Animal Husbandry, Industrial, Domestic (Households), and Others), By Geography – Global Opportunity Analysis & Industry Forecast, 2024-2030”

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North America to Register Highest Growth:

In 2023, North America held the third-largest market share for Acaricide, after Europe and South America. The demand for Acaricide in emerging economies like the U.S., Canada, and Mexico is primarily driven by the growing demand for pesticides. The market in these countries is expected to increase in the forecast period due to the increasing usage of pesticides in various applications. The demand for Acaricide in these regions is anticipated to rise as the agricultural sector continues to expand, driven by the need for crop protection chemicals to ensure high-quality crops and animal feed.

Acaricide Market 2024-2030: Scope of the Report

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Acaricide Market Report – Key Takeaways:

• Organophosphorus Compounds Holds the Largest Share in the Acaricide Market in 2023

Organophosphorus compounds, used in pest control, are organic compounds containing phosphorus. Highly effective insecticides, they account for many insecticides used in food crops. Organophosphate insecticides damage acetylcholinesterase, an enzyme critical for nerve signal control in pests, killing them. The growing demand for Organophosphorus will raise the market demand for Acaricide in the forecast period.

• The Agriculture Sector Held the Largest Share in the Acaricide Market in 2023

The agriculture sector held the largest share in the Acaricide market in 2023, projected to grow at 4.1% CAGR during 2024-2030. Acaricides are pesticides used to kill mites and ticks, protecting crops and livestock from economic damage and disease transmission. With the growing agriculture sector, the demand for Acaricides is expected to increase in the forecast period.

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Key Opportunity Analysis:

Acaricides Market Driven by Livestock and Poultry Industry Expansion

The growing demand for acaricides can be primarily attributed to the expansion of the livestock and poultry industry globally. As the demand for animal-based proteins continues to rise, driven by population growth and changing dietary preferences, the need to protect livestock and poultry from tick-borne diseases has become increasingly crucial. Acaricides, which are pesticides used to control mites and ticks, play a vital role in maintaining the health and productivity of farm animals, thereby supporting the growth of the livestock and poultry sector. Moreover, the increasing awareness among farmers and animal husbandry professionals about the economic and health implications of tick infestations has further fueled the adoption of acaricides, creating lucrative opportunities for market players to capitalize on. This positive trend is expected to continue, driving the expansion of the acaricides market in the coming years.

Opportunities in the Acaricide Market due to the Innovative Formulations that Drive Market Expansion

The acaricides market is poised for significant growth, driven by the development of new and improved formulations that offer higher environmental safety, longer residual effects, and increased potency. These advancements are opening up opportunities for farmers and pest management specialists to effectively manage mite and tick infestations, which is crucial for protecting crops, livestock, and human health. The growing demand for high-quality and abundant food production, coupled with the increasing awareness of various livestock diseases transmitted by ticks, is further fueling the market’s expansion.

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The report also covers the following areas:

• Acaricide Market Size and Forecast
• Acaricide Market Trends
• Acaricide Market Analysis by Product Type

Acaricide Market 2024-2030: Key Highlights

• CAGR of the market during the forecast period 2024-2030
• Value Chain Analysis of key stakeholders
• Detailed analysis of market drivers and opportunities during the forecast period
• Acaricide Market size estimation and forecast
• Analysis and predictions on end users’ behavior and upcoming trends
• Competitive landscape and Vendor market analysis including offerings, developments, and financials
• Comprehensive analysis of challenges and constraints in the Acaricide Market

Covid and Ukrainian Crisis Impact:

• The COVID-19 pandemic had a significant impact on the acaricides market. Lockdowns imposed worldwide resulted in supply chain disruptions, leading to a decline in the production of agrochemicals, including acaricides. The outbreak led to global shutdowns due to an increase in the number of cases, labor shortages, and facility closures. These factors indirectly impacted the supply availability of acaricides on a global level, causing a temporary slowdown in market growth.
• The ongoing Ukraine crisis has also affected the acaricides market. The conflict has disrupted trade and logistics, particularly in regions dependent on imports. The sanctions imposed on Russia, a major producer of agrochemicals, have further exacerbated supply chain issues. Additionally, the crisis has led to increased costs of raw materials and energy, putting pressure on manufacturers and ultimately affecting the affordability and availability of acaricides in some regions. However, the long-term impact of the Ukraine crisis on the acaricides market remains to be seen as the situation continues to evolve.

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List of Key Market Players in the Acaricide Market:

The Global Acaricide Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:

• Bayer AG
• Syngenta
• BASF SE
• Corteva
• FMC Corporation
• UPL
• Nissan Chemical Industries Ltd.
• Adama Agricultural Solutions Ltd.
• Nufarm
• Indofil Industries Limited

Related Reports:

Pesticides Market: The importance of pesticides has increased significantly over the last few decades, catalyzed by the need to enhance agricultural output and ensure adequate food availability for the growing global population.

Pesticide Preparations Market: The efficacy of pesticides in promoting plant health is said to be a preeminent driver driving the growth of the Pesticide Preparations Market. Harmful toxins of pesticides can set many health issues in motion which is said to reduce market growth.

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