North America Miticides Market Forecast to 2028 - Regional Analysis - by Source (Bio-Based and Synthetic), Form (Dry and Liquid), and Crop Type (Fruits and Vegetables, Cereals and Grains, Oilseeds and Pulses, and Others)

North America Miticides Market Forecast to 2028- Regional Analysis- by Source (Bio-Based and Synthetic), Form (Dry and Liquid), and Crop Type (Fruits and Vegetables, Cereals and Grains, Oilseeds and Pulses, and Others)

The North America miticides market is expected to grow from US$ 135.02 million in 2022 to US$ 175.14 million by 2028. It is estimated to grow at a CAGR of 4.4% from 2022 to 2028.

Growing Demand for Fruits and Vegetables Drive North America Miticides Market

Poor diet is one of the major causes of malnutrition and diseases across the world. Micronutrients and dietary fibers are necessary for health, and fruits and vegetables are loaded with such nutrients, which makes them an essential part of a healthy diet. Thus, their demand is growing with the rising awareness about healthy diets. The World Health Organization (WHO) and the Food and Agriculture Organization (FAO) recommend a minimum consumption of 400 g of fruits and vegetables per person per day. This diet would help to prevent chronic diseases such as heart disease, diabetes, cancer, and obesity. It is also likely to prevent and alleviate several micronutrient deficiencies, especially in people from less developed countries. An insufficient intake of fruits and vegetables is estimated to lead to ~14% of deaths from gastrointestinal cancer worldwide, ~11% of those from ischemic heart disease, and ~9% of those caused by stroke. For instance, in 2014, FAO and WHO announced the Rome Declaration on Nutrition and the Framework for Action. This action plan mainly focused on promoting healthy dietary patterns by providing year-round access to safe and nutritious fruits and vegetables; pulses; whole grains; and animal-source foods such as fish, while limiting the consumption of processed foods that negatively affect nutrition and health. According to the US Department of Agriculture, the overall quantity of vegetables available for consumption in the US increased from 371.6 pounds per capita in 2019 to 382.5 pounds per capita in 2020. In addition, global fruit production went up by 54% (i.e., 342.8 million tons) from 2000 to 2019 to reach 973.3 million tons by 2019. Thus, the growing fruit and vegetable consumption due to consumers' shift toward healthy diets is bolstering demand for chemicals applied for the protection of crops from pests. Miticides protects fruits & vegetables form mites and ticks. Thus, the growing demand for crop protection chemicals is also bolstering the demand for miticides.

North America Miticides Market Overview

The North America miticides market is growing due to increased population and government subsidies, strong economies, and robust food safety nets. As per the reports of the US Department of Agriculture (USDA), North America ranks highest in food affordability. The agricultural sector in the US adds value to the economy of the country. In 2020, the contribution of agriculture to the US gross domestic product (GDP) was more than 0.6%. Hence, the demand for miticides is increasing in the sector in North America.

North America promotes the use of miticides to balance the growth of the agricultural sector with other sectors of the economy. The growth is mainly achieved using chemical fertilizers and pesticides required to sustain large-scale production. According to the Food and Agriculture Organization of the United Nations, the US is the largest producer of corn, accounting for ~32.9% of global production. Spider mites such as banks grass mites (BGM) and two-spotted spider mites (TSSM) mainly affect the production of corn in North America. The injury by the mites, in conjunction with drought stress, increases the stress on the plant and negatively impacts photosynthesis. Early plant injury can result in lost yield potential, which can have grain losses ranging from 6 to 48% and as high as 40% yield loss for corn harvested as silage. If predatory insects are controlled, and a miticide is not used, the mite population can increase rapidly. These factors are promoting the usage of miticides in North America. Market players in North America are focusing on manufacturing agricultural miticides to produce oilseeds and pulses, cereals and grains, and fruits and vegetables, among others. Companies are formulating mid and long-term business strategies to adapt to potential trends in North America.

North America Miticides Market Revenue and Forecast to 2028 (US$ Million)

North America Miticides Market Segmentation

The North America Miticides market is segmented into source, form, crop type, and country.

Based on source, the North America miticides market is bifurcated into bio-based and synthetic. In 2022, the synthetic segment registered a larger share in the North America miticides market.

Based on form, the North America miticides market is segmented into dry and liquid. In 2022, the liquid segment registered a larger share in the North America miticides market.

Based on crop type, the North America miticides market is segmented into fruits and vegetables, cereals and grains, oilseeds and pulses, and others. In 2022, the fruits and vegetables segment registered a largest share in the North America miticides market.

Based on country, the North America miticides market is segmented into the US, Canada, Mexico. In 2022, the US segment registered a largest share in the North America miticides market.

BASF SE; Bayer AG; Certis USA LLC; FMC Corp, Gowan Co; Kemin Industries Inc.; Nihon Nohyaku Co. Ltd.; Oro Agri International BV; Syngenta AG; and UPL Ltd are the leading companies operating in the North America miticides market.

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