At 4.8% CAGR, the Europe Miticides Market is projected to be worth US$ 142.82 million by 2028, says Business Market Insights

According to Business Market Insights research, the Europe miticides market was valued at US$ 107.86 million in 2022 and is expected to reach US$ 142.82 million by 2028, registering a CAGR of 4.8% from 2022 to 2028. Growing demand for fruits and vegetables and yield improvement and bio-based miticides are the critical factors attributed to the Europe 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. Thus, their demand is growing with the rising awareness about healthy diets. In 2021, the United Nations (UN) announced the International Year of Fruits & Vegetables. The United Nations General Assembly aims to raise awareness of the nutritional and health benefits of fruit and vegetables and their contribution to a balanced and healthy diet and improved lifestyle. Many countries and international organizations have implemented various action plans to increase the production and consumption of fruits and vegetables, along with making them more economically accessible to consumers. For instance, in 2014, FAO and WHO announced the Rome Declaration on Nutrition and the Framework for Action. This action plan mainly focused on promoting healthy dietary patterns by providing year-round access to safe and nutritious fruits and vegetables; pulses; whole grains; and animal-source foods such as fish, while limiting the consumption of processed foods that negatively affect nutrition and health. 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 Europe miticides market.

Based on source, the Europe miticides market is bifurcated into bio-based and synthetic. The synthetic segment held 50.6% share of Europe miticides market in 2022, amassing US$ 54.62 million. It is projected to garner US$ 71.06 million by 2028 to expand at 4.5% CAGR during 2022–2028.

Based on form, the Europe miticides market is segmented into dry and liquid. The liquid segment held 57.0% share of Europe miticides market in 2022, amassing US$ 61.51 million. It is projected to garner US$ 80.46 million by 2028 to expand at 4.6% CAGR during 2022–2028.

Based on crop type, the Europe miticides market is segmented into fruits and vegetables, cereals and grains, oilseeds and pulses, and others. The fruits and vegetables segment held 64.9% share of Europe miticides market in 2022, amassing US$ 69.97 million. It is projected to garner US$ 93.92 million by 2028 to expand at 5.0% CAGR during 2022–2028.  

Based on country, the Europe miticides market is segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 34.5% share of Europe miticides market in 2022. It was assessed at US$ 37.23 million in 2022 and is likely to hit US$ 50.30 million by 2028, exhibiting a CAGR of 5.1% during the forecast period.  

Key players profiles in the Europe 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.

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