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Market Overview:
The Acaricides Market, estimated to reach $438.8 billion by 2030 with a CAGR of 4.4% from 2024-2030, is driven by rising demand for Acaricides are the need to feed an ever-growing population, declining arable land, and increasing demand for sustainable agricultural practices. Also, often the term ixodicides are referred to as Acaricides that are used against ticks. Furthermore, with the increasing agriculture productivity in various regions, the global Acaricides industry is anticipated to create new growth opportunities in the forecast period.
Regional Insights:
North America held the largest share of the acaricides market, driven by increasing pesticide demand in the U.S., Canada, and Mexico. The region’s rapid market growth is fueled by the rising use of crop protection chemicals to combat tick and mite-borne diseases. Agriculture, particularly in crop and animal feed production, is the key growth driver, with the region being both the largest consumer and one of the fastest-growing markets for acaricides.
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Scope of the Report:
Acaricides Market: Recent Development
• In April 2024, Bayer has signed an agreement with UK-based company AlphaBio Control to secure an exclusive license for a new biological insecticide. The new product will be the first available for arable crops, including oilseed rape and cereals. Targeted for initial launch in 2028 pending further development and registration, this new insecticide was discovered by AlphaBio, with whom Bayer distributes FLiPPER, an award-winning bioinsecticide-acaricide.
• In August 2023, Syngenta revolutionized the Acaricides market with VERDAVIS® and SPONTA®. These innovations, driven by PLINAZOLIN® Technology, promise efficient shock control for soybeans and corn and heightened control against pests in cotton. This recent breakthrough reshapes the Acaricides market, offering optimized operations and effective pest management.
Acaricides Market: Competitive Landscape
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Acaricides Industry. The top 10 companies in the Acaricides market are-
1. Bayer AG
2. Syngenta
3. BASF SE
4. Corteva
5. FMC Corporation
6. UPL
7. Nissan Chemical Industries Ltd.
8. Adama Agricultural Solutions Ltd.
9. Nufarm
10. Indofil Industries Limited
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