Market Size of Acaricides Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 369.34 Billion |
| Market Size (2029) | USD 471.38 Billion |
| CAGR (2024 - 2029) | 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Acaricides Market Analysis
The Acaricides Market size is estimated at USD 369.34 billion in 2024, and is expected to reach USD 471.38 billion by 2029, growing at a CAGR of 5% during the forecast period (2024-2029).
Due to the COVID-19 outbreak, lockdowns were imposed worldwide, resulting in supply chain disruptions. The outbreak resulted in global shutdowns due to an increase in the number of cases, the shortage of labor, and the closing down of facilities. Such factors led to low production of agrochemicals, including acaricides. Thus, the pandemic indirectly impacted acaricide supplies on a global level.
Over the long term, the growing food demand with expanding population, decreasing arable land, increasing demand for natural products, and increasing demand for sustainable agricultural practices may increase the demand for acaricides. It has been estimated that the yield losses due to attacks by mites could be as high as 13.8% in many crops. Mites survive in dry weather, and increasing global temperatures add to this problem. The acaricides market is projected to grow rapidly due to the increasing incidences of prolonged dry spells worldwide in recent years. However, the strict regulations over the use of acaricides are expected to restrain the market's growth in the coming years.
Fruits and vegetables grown in the sub-tropical and temperate zones are most susceptible to mites. The Asia-Pacific market is growing at an impressive rate, especially in agriculture, due to the increasing usage of crop protection chemicals to control the spread of tick and mite-borne diseases.
