Global Acaricides Market - 2023-2030

Global Acaricides Market - 2023-2030

Global Acaricides Market reached US$ 405.2 million in 2022 and is expected to reach US$ 594.1 million by 2030, growing with a CAGR of 4.9% during the forecast period 2023-2030.

IRAC recommends making use of acaricide Mode of Action (MoA) categorization as insecticides for successful and long-term resistance reduction. Acaricides are divided into categories mostly depending on their online target locations. The IRAC MoA class list, which is routinely reviewed and reissued, serves as a guide for farmers, growers, consultants, extension persons, experts, and crop protection professionals when selecting acaricides and insecticides for resistance management packages. Manufacturers may accelerate market expansion over the predicted period by the launch of innovative solutions.

Furthermore, the benefits of broadly used acaricides as insecticides will boost the market growth through the projection period. For instance, Several companies are involved in ticks inside the western and relevant United States, where Lyme disorder is widespread. According to America Environmental Protection Agency, the frequency of Lyme disease within the United States almost doubled in view that 1991, going from 3.74 reported cases in step with 100,000 humans in 1991 to 7.21 registered cases in line with 100,000 humans in 2018.

Dynamics

Growing Demand for Acaricides Associated With its Properties

Farmers are becoming more interested in chlorinated hydrocarbons (e.g., dichlorodiphenyltrichloroethane; DDT), organophosphorus compounds, carbamates, pyrethroids, formamidines, and avermectins due to their benefits and properties as acaricides. Pyrethroids are among the most effective and safe insecticides, and they are now widely used to control ticks. For instance, BASF launched the acaricide Nealta in the United Kingdom in June 2020. It is based on the unique active component cyflumetofen, which originates from the Group 25 insecticide group. It will also eliminate all stages of the mite's life cycle, including eggs, immature stages, and adults, while leaving beneficial mites and other insects, such as bees, unharmed.

Acaricides can also be delivered as sprays, with high-pressure sprayers producing a mist that can reach every part of the animal's body. They are also available as pour-ons or spot-ons. These are formulations in which the acaricide is combined with surfactants to create a liquid that is applied to the animal's hair coat. Finally, acaricides combined with talc and placed directly into the animal's fur might be used as dust. Acaricidal dust includes the well-known ""flea powders"" for pets, which are effective against ticks as well as fleas, and the dust bags used to treat cattle.

Increasing Demand for Organic Food

The organic food sector is expanding as people become more mindful of their health and the rapid effects of climate change. Furthermore, many firms are focused on research and development as well as the launch of new, cutting-edge products to assist the industry's flourish. The increased demand for sustainable developments fuels the industry's expansion even more. To fight significant concerns such as poverty, the UN also suggests sustainable agriculture and greater production. According to the FAO, global primary crop output increased by 52% between 2000 and 2020, reaching 9.3 billion tonnes in 2020.

The growth of a robust agricultural sector is also fueling the rise of industry. Along with reducing accessible arable land, expanding urbanization has raised the demand for a variety of organic food items. Furthermore, scientific studies have found that roughly 33% of the world's suitable or high-quality food processing land has been lost. As a consequence, throughout the projected period, the demand for food will offer an opportunity for acaricides market expansion.

Lack of Development of New Acaricides

The creation of novel acaricides is a time-consuming and costly procedure. Worryingly, resistance to current acaricides is rising globally, raising the actual risk that their limited stock of effective acaricides will be depleted unless action is made to raise the number of novel acaricidal products and slow the pace of resistance development.

In addition, the primary significance of acaricide resistance is a high level of toxicity towards all phases of the cattle tick life cycle. Furthermore, it is cost-effective, which effectively limits market expansion.

High Cost of Stabilization Process

The production of acaricides is a very cost-effective procedure that comprises the spraying, washing, pouring, and injections in various ways on host animals. In India, for example, Bayer sells its Oberon Insecticide/Acaricide for 810 INR for just 100 ML, limiting market expansion because farmers cannot afford these sorts of chemicals and must hunt for alternatives.

Furthermore, the studies estimated that more technified and larger herds have a lower annual expenditure on acaricide treatment (1.30% of the production budget, equivalent to 8.46 USD per animal) compared to non-technified farms where it can represent more than 2.74% of the production budget and where the absence of cypermethrin resistance raises the treatment cost to 19.50 USD per animal annually.

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Segment Analysis

The global acaricides market is segmented based on type, mode of action, crop type, formulation, distribution channel, and application

The Large Utilization of Organophosphorus in Insect Management

Organophosphorus makes up a significant share of the acaricide market. Pesticides containing organophosphates are used to control agricultural pests by blocking the neurotransmitter acetylcholinesterase. These powerful neurotoxins are extremely successful in insect eradication, making them the favored agricultural pesticides across the world.

In addition, the vast majority of insecticides used are organophosphates (OP), which, although also neurotoxic, are generally considered a “safer” alternative, as the levels of bioaccumulation (accumulation of chemicals inside an organism through direct or indirect uptake) are far lower for OP rather than OC insecticides. Moreover, OP insecticides are further favored in agricultural settings due to their cost effectiveness as well as their rapid mode of action (immediate neurotoxicity) against a wide variety of target organisms, leading to broad-spectrum success in pest elimination.

Source: DataM Intelligence Analysis (2023)

Geographical Penetration

Asia-Pacific Dominates the Agricultural Industry

Agriculture employs 75% of Asian farmers, according to the Asian Development Bank. India is an agrarian country, with more than half of the population relying on agriculture for a living. It is the world's greatest producer of spices, pulses, milk, tea, cashew, and jute, as well as the second-largest producer of wheat, rice, fruits, vegetables, and oilseeds. Acaricide products will benefit from increased crop output demand.

Furthermore, India is the world's fourth largest producer of agrochemicals, trailing only the United States, Japan, and China, and has emerged as the world's 13th largest exporter of pesticides. According to the FCCI, India controls 53% of the insecticide market. According to statistics released on the Ministry of Agriculture and Rural Affairs (MARA) website in 2021, there are a total of 40 registered new pesticides in China, a considerable rise from only 5 new pesticides allowed in 2020. During the projected period, the high registration approval from China will offer an opportunity for the acaricides market to develop.

Source: DataM Intelligence Analysis (2023)

Competitive Landscape

The major global players include Syngenta Crop Protection AG, Bayer AG, UPL Europe Limited, Corteva Agriscience, BASF SE, Nufarm, Sumitomo Chemicals, Arysta Lifescience, Chemtura Corporation, Indofil Industrie Limited, ADAMA Ltd, NIHON NOHYAKU CO., LTD., PI Industries, TATA Chemicals Limited, Nissan Chemical Corp., UPL Ltd., and FMC Corp.

COVID Impact

The worldwide acaricides market has been adversely affected by the COVID outbreak. Due to supply chain disruption and lockdown limitations, manufacturers are having problems working during the pandemic. According to the International Trade Centre, global pesticide imports climbed by 9.5% in 2022 to US$ 10.9 billion, up from US$ 9.95 billion in 2020. The post-pandemic business is resuming strong expansion as a result of farmer demand for agricultural and commercial applications.

Russia- Ukraine War Impact

The ongoing conflict between Russia and Ukraine is projected to have a substantial impact on the acaricides industry. According to BusinessStat estimates, plant protection chemical output in Russia climbed through 90.1% from 45.3 thousand tonnes to 86.1 thousand tonnes from 2014 to 2018, even as pesticide production in Russia improved by 1.8 instances from 86.8 thousand tonnes to 155.6 thousand tonnes from 2017 to 2021. Insecticide use ranged from nine.7% in 2017 to twelve.7% in 2016 (12.1% in 2018) among 2014 and 2018. The ongoing conflict has had a significant influence on the country's output and consumer demand, both of which have been hampered by supply chain disruption.

By Type
• Organophosphates
• Carbamates
• Organochlorines
• Pyrethrins
• Pyrethroids
• Others

By Mode of Action
• Hand Dressing
• Spraying
• Dipping
• Others

By Crop Type
• Cereals & Grains
• Oilseeds & Pulses
• Fruits & Vegetables
• Others

By Formulation
• Liquid
• Powder
• Granules
• Others

By Distribution Channel
• E-Commerce
• Specialty Stores
• Hypermarket/Supermarket
• Others

By Application
• Agriculture
• Animal Husbandry
• Industrial
• Home & Garden
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Russia
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Key Developments
• On June 2, 2020, BASF launched Nealta, a novel acaricide. It is based on the novel active component cyflumetofen, which comes from a distinct class of insecticides known as Group 25. It will also destroy all phases of the mite's life cycle, including eggs, immature stages, and adults while remaining safe for beneficial mites and other insects like bees.
• On April 15, 2020, Marvee is a botanical acaricide released by Chengdu Newsun Crop Science Co., Ltd. in China to combat red spider mites. Marvee is extracted from the root and stem of the plant Veratrum nigrum L. using Chengdu Newsun's proprietary Co-Extraction technique.
• On August 17, 2022, UPL announced its partnership with Oro Agri to co-distribute and develop Orange Oil, a treatment beneficial against a variety of pests and ailments. Oro Agri developed orange oil as a fungicide, pesticide, and acaricide. It is a residue-free biosolution with significant adjuvant characteristics.

Why Purchase the Report?
• To visualize the global acaricides market segmentation based on type, mode of application, crop type, formulation, distribution channel, and application as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of acaricides market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global acaricides market report would provide approximately 106 tables, 103 figures, and 197 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies