The global miticides market revenue is expected to register a moderate CAGR over the forecast period. Farmers focusing on increasing crop productivity by using modern farming techniques is expected to drive growth of target market. In addition, rising awareness among farmers regarding benefits associated with use of miticides is other factor expected to drive growth of market over the forecast period.
The global miticides market report has been segmented on the crop type, formulation, mode of application, and region.
Based on mode of application, the global miticides market is segmented based on foliar spray and soil treatment. The foliar spray segment contributes major revenue share owing to its effectiveness and ease of use.
Based on crop type, the global miticides market is segmented based on oilseeds & pulses, fruits & vegetables, cereals & grains and other crops. Fruits & vegetable holds major revenue share as compared to that of other crop type segment. Fruits and vegetables are important components of human diet as they provide essential nutrients. Like other crops, fruits and vegetables are attacked by pests and diseases during cultivation which in turn reduces quality and crop yield. Increasing use of miticides in order increase fruits and vegetables yield is major factor expected to drive growth of the segment over the forecast period.
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Regional segmentation includes North America, Europe, Latin America, Asia Pacific and Middle East and Africa. Market in Asia Pacific is expected to contribute major revenue as compared to that of other region. Increasing demand for food, extensive R&D initiatives have been undertaken for exploring new varieties of crop protection chemicals to be used on different pest infestations is major factor expected to drive growth of market in the region over the forecast period.
Prominent players in the global miticides market are BASF Corporation, Bayer AG, Syngenta AG, Nihon Nohyaku Co., Ltd., Gowan Company, LLC, E. I. du Pont de Nemours and Company, ADAMA, Arysta Lifescience, FMC Corporation, and Nufarm Limited.