Miticide is a type of pesticide used for pest control. This chemical particularly targets plant mites like spider or ticks that damage the plants. The miticide market is expected to grow due to rise in population lead to increase in demand for crop production. Rise awareness among the farmers about the ill effects of pest attack which may lead to the heavy losses is further anticipated to drive the market. The opportunities like advancements in agricultural practices and technology is expected to drive the growth of the miticide market during forecast period. However, the presence of substitutes and governments stringent regulations on the usage of chemicals will hinder the growth of miticide market. The market is segmented on the basis of form of a miticide, source, crop type, application, and geography. In the source segment, chemical segment is anticipated to hold the significant market share by due to its wide adoption. Geographically, Asia Pacific is expected to have a substantial share in miticide market during the forecasted period on account of growing population along with increasing demand for crop and cultivation activities in countries like India and China.
Increase in agricultural productivity.
Awareness about technology and new farming practices
Strict rules and regulations by the government
Availability of substitutes.
In February 2017, Gowan US launched a new product Nexter SC which is a novel formulation to increase the knockdown of mites.
In March 2017, FMC Corporation acquired a significant portion of DuPont’s Crop Protection Business.
The major players profiled in the Miticide market are FMC Corporation, Gowan Company, LLC, BASF, Nissan Chemical Industry, Syngenta, Nihon Nohyaku Co., Ltd., ADAMA, Bayer AG, Nufarm Ltd. And Dowdupont.
The Miticide market has been analyzed through the following segments:
By Crop Type
Cereal and Grain
Fruits and vegetables
Pulses and oilseeds
Middle East and Africa