Acaricides Market Size, Share, Growth, Trends, and Global Industry Analysis: By Product Type (Organophosphates, Organochlorines, Carbamates, Pyrethroids, Others), By Application (Animal Husbandry, Agriculture, Industrial, Others), By Mode of Application (Spray, Dipping Vat, Hand Dressing, Others) and Region

Acaricides Market size was valued at US$ 388.5 million in 2023 and is poised to grow at a significant CAGR of 7.2% from 2024-2030. An acaricide is a type of pesticide specifically to kill members of the arachnid subclass Acari, which includes ticks and mites that cause various health problems and damage to crops. Acaricides are used in agriculture, veterinary medicine, and agricultural pest control to manage and prevent infestations of these arachnids. The increased demand in the agriculture sector to control the infestation of crops by mites and ticks to prevent economic losses for farmers drives the market. According to FAO, each year pests destroy up to 40 percent of global crops and cost $220 billion in losses. Furthermore, the increase in demand for meat and dairy products is anticipated to propel the market growth. Acaricide manages the ticks and mites on livestock, such as cattle, sheep, and poultry that otherwise cause health issues in animals and reduced productivity.

According to a research article- “Meat and Dairy Production”, the world produces more than 340 million tonnes each year and the demand is still increasing. Additionally, opportunities exist for bio-based acaricides because of the rising demand for environmentally friendly and sustainable farming methods. These naturally sourced chemicals provide efficient pest control while having a minimal negative impact on the environment. Currently, the use of predatory mites and nematodes as biopesticides as a component of integrated pest management is a growing trend. Biopesticides are viewed as more environmentally friendly and secure substitutes. However stringent regulatory requirements related to safety, environmental impact, and residue levels in food products may hinder market growth. However, the growing demand for crops and animal products across the world, the adoption of strict regulatory norms by the government, increased awareness, and technological advancements are anticipated to burgeon the market growth.

Acaricide Market Key Developments:

• In September 2023, Certis Belchim launched Neudosan, a new natural, broad-spectrum insecticide/acaricide, in Europe. The product contains a variety of potassium salts/fatty acid compounds (C7-C18) extracted from rapeseed with multiple effects and is suitable for ornamental crops as well as many crops grown on open and protected lands.
• In June 2020, BASF launched acaricide Nealta in the UK. It is based on the new active ingredient cyflumetofen, which is from a unique group of insecticides, Group 25. It kills all stages of the mites’ life cycle – eggs, immature stages, and adults- whilst being compatible with beneficial mites and other insects such as bees.