At 5.6% CAGR, the Asia Pacific Miticides Market is projected to be worth US$ 753.24 million by 2028, says Business Market Insights

According to Business Market Insights research, the Asia Pacific miticides market was valued at US$ 543.10 million in 2022 and is expected to reach US$ 753.24 million by 2028, registering a CAGR of 5.6% from 2022 to 2028. Growing demand for fruits and vegetables and yield improvement and bio-based miticides are the critical factors attributed to the Asia Pacific miticides market expansion.               

Poor diet is one of the major causes of malnutrition and diseases across the world. Micronutrients and dietary fibers are necessary for health, and fruits and vegetables are loaded with such nutrients, which makes them an essential part of a healthy diet. Developing countries such as India and China are among the largest producer of fruits & vegetables. According to the Agricultural & Processed Food Products Export Development Authority (APEDA), during 2021–2022, India exported fresh fruits and vegetables worth US$ 1,527.60 million, comprising fruits worth US$ 750.7 million and vegetables worth US$ 767.01 million. Thus, the growing fruit and vegetable consumption due to consumers' shift toward healthy diets is bolstering demand for chemicals applied for the protection of crops from pests. Miticides protects fruits & vegetables form mites and ticks. Thus, the growing demand for crop protection chemicals is also bolstering the demand for miticides.  

On the contrary, regulations focused on harmful effects of miticides hurdles the growth of Asia Pacific miticides market.

Based on source, the Asia Pacific miticides market is bifurcated into bio-based and synthetic. The synthetic segment held 66.1% share of Asia Pacific miticides market in 2022, amassing US$ 358.78 million. It is projected to garner US$ 492.25 million by 2028 to expand at 5.4% CAGR during 2022–2028.

Based on form, the Asia Pacific miticides market is segmented into dry and liquid. The liquid segment held 64.7% share of Asia Pacific miticides market in 2022, amassing US$ 351.38 million. It is projected to garner US$ 482.81 million by 2028 to expand at 5.4% CAGR during 2022–2028.

Based on crop type, the Asia Pacific miticides market is segmented into fruits and vegetables, cereals and grains, oilseeds and pulses, and others. The fruits and vegetables segment held 77.7% share of Asia Pacific miticides market in 2022, amassing US$ 421.74 million. It is projected to garner US$ 591.59 million by 2028 to expand at 5.8% CAGR during 2022–2028.  

Based on country, the Asia Pacific miticides market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 62.6% share of Asia Pacific miticides market in 2022. It was assessed at US$ 340.17 million in 2022 and is likely to hit US$ 483.70 million by 2028, exhibiting a CAGR of 6.0% during the forecast period.  

Key players profiles in the Asia Pacific miticides market report BASF SE, Bayer AG, Certis USA LLC, FMC Corp, Gowan Co, Kemin Industries Inc.; Nihon Nohyaku Co. Ltd.; Oro Agri International BV, Syngenta AG, and UPL Ltd, among others.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com