South America Acaricides Market - Growth, Trends and Forecasts (2020 - 2025)
The South America Acaricides Market is projected to witness a CAGR of 4.4% over the forecast period (2020 – 2025). The need to meet the food requirement of the evergrowing population, decreasing arable land, and rising concern over the adverse climatic factor are some of the major drivers for the increasing demand of acaricides. Various diseases are transmitted by ticks that severely affect the livestock as livestock feeds majorly constitute cereals in the region. Thus, the use of chemical acaricides is the most common and effective method adopted in killing ticks. The rising population is triggering high demand for agricultural output and meat consumption. Growth in grains and meat consumption is further expected to boost the acaricides market over the forecast period There is are a broader acceptance and recognition of the increasing benefits of acaricides. Key participants in the studied market are Corteva Agriscience, BASF SE, UPL, Bayer Ag, Syngenta, UPL Limited., FMC Corporation and Nufarm.
Key Market Trends
Need for Increasing the Productivity
With the growing population and urbanization have resulted in declining arable land. In order to increase the production with the available land, area producers are reaching out for crop protection chemicals such as acaricides to protect the crop from mite infestation. With the steep decline in the per capita arable land, contrasting to the rising population, the crop yields must increase to meet the increasing food demand. For instance, in 2016, cereals yield was 52,038 hg per ha which has decreased to 46,714 hg per ha in 2018. The increasing infestation from mites/ticks and pests is causing health hazards to the worldwide population which is increasing the disease burden. To overcome the issue producers started to prefer the application of chemicals which will drive the market for acaricide.
Brazil Dominates the Market
Brazil has been recognized as the world’s largest consumer of crop protection chemicals owing to the higher production of cereals and other crops in the country. In 2017 and 18 Brazil has approved several crop protection chemicals to lower the price of the products, which in turn lowers the cost of production. In Mato Grosso, the largest producing state, pesticides account for 22 percent of the spending on the soybean crop. Soybeans, rice, wheat, potato, and tomato and some fruit crops are some of the crops in the region that are possibly infected with mites. For instance, according to FAO, in 2016, cereal production was about 84.16 million tons that increased to 117.97 million tons in 2017 and then decreased to 103.06 million tons in 2018. Thus, to ensure stable production, producers are preferring crop protection chemicals. According to Brazilian Institute of the Environment and Renewable Natural Resources, the total sales of formulated chemical and biochemical products in Brazil reached 549,280 tons in 2018, an increase of 1.72% compared to the previous year of which Acaricide & Fungicide was 34,906.17 tons Insecticide & Acaricide was 26,601.32 tons and acaricide amounted to 6,779.09 tons.
The market for agricultural acaricides is fairly consolidated with few major players occupying majority share in the market. Key participants in the studied market are Corteva Agriscience, BASF SE, UPL, Bayer Ag, Syngenta, UPL Limited., FMC Corporation, and Nufarm. Other than the global leaders, there are many small local players active in the region trying to capture a fraction in the growing market. The market here is witnessing rapid growth in terms of product innovation, with a focus on increasing retail availability of various acaricides products. In 2018, BASF has introduced miticide Nealta® (cyflumetofen) for apple trees in Argentina for the control of mites in all life stages. Nealta®, is a contact miticide for the apple, specifically control spider mites and has a knockdown power and residual effect. With this product launch, BASF expands its insecticide portfolio line
Reasons to Purchase this report:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook