Miticides, also known as acaricide are a type of harmful chemical compounds designed for the prevention of mite prevalence in agricultural crops of different kinds. These chemical compounds are harmful for mites and referred to as killing agents for mites. Due to the complications in targeting mites, these chemical compounds are experiencing high demands from ornamental crops or food based plants due to the preference of ticks and mites towards these crops.
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Miticides market is growing due to increasing awareness and constant innovations, increased demand for high yield from crops, the effects of these factors are mentioned below:
- Increasing awareness and constant innovations: Miticides are highly effective in reducing/knocking down mites in crops and protecting the crops against future infestation of different mites in these crops. The market players of these products have increased their marketing to spread greater awareness for their products while also focusing extensively on R&D to provide the consumers with the most effective and highly advanced product offerings to ensure that the farmers can sustain the demands for high yield from the crops
- Increased demand for high yield from crops: Increasing population levels worldwide have had a direct impact on the demands for agricultural crops and yields extracted from these crops. This increasing trend has resulted in high demands for protective measures and technologies to protect the farms from different kinds of harmful contaminants and microbes while sustaining the quality of crops without compromising their contamination levels for humans
Innovations of technologies in the products being launched by the different market players:
- In December 2018, Kemin Industries, Inc. through their business initiative “Kemin Crop Technologies” announced the launch of “TetraCURB Organic”, their latest OMRI-Listed foliar spray based miticide developed for usage in all kinds of crop types. With the increasing consumption and agricultural activities for organic crops, the company has developed this organic form of miticides to meet this trend of having organic protective measures for crops
- In June 2018, OHP, Inc. announced the launch of “Pycana Insecticide/Miticide”, which has been developed with a unique method consisting of natural pyrethrins as well as canola oil to improve its effectiveness against mites of various different variants as well as various other kinds of insects. The product has been developed for crops such as ornamentals, fruits, vegetables and herbs. The company has applied for receiving OMRI listing, although the company has targeted the organic methods of agricultural production
The market is segmented on the basis of source as biological and chemical. Mode of application has been segmented into foliar spray, soil treatment and others. Crop type includes fruits & vegetables, cereals & grains, oilseed & pulses and others.
“According to Data Bridge Market Research, Global Miticides Market is expected to reach USD 1.81 billion by 2026, growing with a CAGR of 5.3% during the forecast period of 2019 to 2026”
Some of the major players operating in this market are Syngenta, Gowan Company, BASF SE, Bayer AG, Arysta LifeScience Corporation, FMC Corporation, UPL, Mantis Plant Protection LLC, and DowDuPont.
With the focus of agricultural industry on meeting the significant rise in demands for raw food products which has been caused by a global rise of population levels, the agricultural industry has initiated the adoption of integrated pest management (IPM) methods to improve their yields and enhance the levels of protection available to their crops against different insects, weeds, mites, ticks and various other forms of potentially harmful microbes.
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