Miticides Market To 2023 Analysis, Business Strategy, Opportunities, Trend, Mark
Posted by Market Research Future on June 6th, 2019
Mites are small arthropods that attack crops. The majority of mites are beneficial to the environment such as predatory mites which include Phystoseiulus, Amplyeius, and Agistemus. However, mites such as the two-spotted spider mite, banks grass mite, and red mites pose a threat to crops.
Two-spotted mites attack cotton, soybean canola, lucerne, peanut, mung bean, navy bean, and azuki bean. Heavy infestations will result in leaf desiccation, leaf drop, and yield loss. Miticides play an important role in killing and controlling the growth of mites on plants.
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Increasing awareness about the advantages of miticides in maximizing overall yield by decreasing losses is primarily driving the growth of the global miticides market. This growth is also influenced by research and development of miticides such as usage in a broad range of crops, targeted knockdown of all life stages of mites with no toxicity to beneficial insects (predatory mites and pollinators), compatibility with integrated pest management (IPM) programs, long residual control, nature-based miticides, and cost-effectiveness. Quick action and easy handling are also boosting the growth of the product market.
To meet the growing demand for miticides, companies are incorporating these products into their portfolios. For instance, on 22 February 2017, OHP Inc. introduced a miticide under the brand name Notavo Ovicide for ornamental crops to provide long-term control of eggs and immature stages of two-spotted spider mites and other mites. On 17 February 2017, Gowan USA introduced a miticide/insecticide under the brand Nexter that helps knockdown and control broad mites, rust mites, pear psylla, aphids, whiteflies, spider mites, and leafhopper nymphs.
The US Food Quality and Protection Act restricts the use of chemical miticides above the recommended amount due to their harmful effects on pollinators, birds, and beneficial mites. Excessive use can lead to high levels of residue, which is expected to hamper the growth of the product market to some extent during the forecast period. However, the correct dosage of chemical miticides and the development of eco-friendly miticides can provide growth opportunities to market players during the forecast period.
Global Key Players
The global miticides market has been segmented by form, source, mode of application, crop type, and region.
Based on form, the global miticides market has been divided into powder and liquid.
By source, the global miticides market has been segregated into biological and chemical.
Based on mode of application, the global miticides market has been segmented into foliar spray and soil treatment.
On the basis of crop type, the global miticides market has been categorized as horticultural crops, field crops, and turf and ornamentals.
The global miticides market has been analyzed with respect to five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Asia-Pacific accounted for the largest market share in 2017 and is expected to maintain its dominance during the forecast period. The regional market has been growing at a rapid rate over the past decade due to the rising food demand owing to increasing population, lucrative government schemes related to agriculture, and increasing research of agricultural products.
Europe and North America are also major markets for miticides due to the presence of an established agricultural industry, high agricultural expenditure, and an emphasis on technologically advanced farming techniques and products.
The Latin American market is expected to witness a rising demand for miticides due to the growing agriculture industry particularly in countries such as Brazil and Argentina during the forecast period.
The market in the Middle East & Africa is expected to exhibit moderate growth during the forecast period.
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