Market Insights
Tick and mite borne diseases are one of the most serious threats to the African agricultural and animal husbandry sector. In the Africa region alone, there are about 650 tick species, which cause considerable economic losses in the eastern, central and southern Africa. This increasing occurrence of diseases led to a growing market of acaricides in Africa; the market is slated to grow at a CAGR of 4.2% during 2017-2022.
Market Dynamics
Increasing need of agricultural productivity, growing crop protection market globally and the growing demand for crop and animal based products are some of the major drivers for the industry. Raw material cost is posing significant threat for the industry’s growth in the region.
Acaricides are known for controlling arthropod pests. These pests can cause huge losses to the agricultural and animal husbandry industry. Ticks are arachnids, which are responsible for losses in animals caused by toxin injections, attachment to animal hides and by other methods of disease transmission. Tick and mite borne diseases cost the industry in millions with a mortality of 1.1million cattle every year in Africa. So animal husbandry segment is the major consumer of acaricide products in the region. South Africa and Egypt would be the two important and growing markets for acaricides application in the forecasting period.
Many global players are trying to capture the unexplored market of Africa in the next five years. Major companies operating here are Syngenta, BASF, Bayer, FMC Corporation etc. While product development would be the key strategy in the long term, acquisition and collaboration with the regional players are the short-term strategies carried out by companies in the region.
Study Deliverables:
- Market definition for the specified topic along with identification of key drivers and restraints for the market
- Analysis for the African acaricides market, with region specific assessments and competition analysis on a regional scale
- Segment-level analysis in terms of application and end-user demand
- Forecasts and estimations for the sub-segment level market
- Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies, which can influence the market on a regional scale
- Identification and analysis of the exogenous and endogenous factors such as macro and microeconomic variables that affect the African acaricides market on a regional scale
- Extensively researched competitive landscape section with profiles of key players along with their share of markets
- A comprehensive analysis of recent organic and inorganic developments in the market by the major companies, and strategic benchmarking of developments
Scope of the Study:
- Comprehensive overview of the acaricides market
- Competitive intelligence regarding the major players in this industry and the strategies adopted by them
- Insights about the major countries/regions in which this industry is blooming and identification of the regions which are untapped
