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North America owned 16.5% of the acaricide market. The growing need for pesticides in expanding economies like the U.S., Canada, and Mexico drives regional demand for acaricide. North America is a significant acaricide consumer.
NEWARK, DE / ACCESSWIRE / September 14, 2022 / The global acaricide market is projected to witness steady growth over the forecast period from 2022 to 2032, by registering a steady CAGR of 4.3% during the forecast period. The market is anticipated to reach US$ 262.4 Million in 2022 and surpass US$ 399.8 Million by 2032.
Acaricides and miticides are some of the common and practical pesticides used in agriculture and animal husbandry in order to prevent diseases and protect livestock and crops. There are several factors contributing to the increase in adoption of acaricides such as the growing population, shrinking farmland, and a push for environmentally responsible agriculture.
Acaricides are increasingly becoming popular due to their efficiency and convenience which is helpful in the elimination of ticks and mites, resulting in protecting livestock and agricultural crops. The global demand for acaricides is propelling due to their various properties which are used to kill ticks. New opportunities are expected to emerge in the upcoming years owing to the surging agricultural output in several regions.
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Due to its diverse usage in farming, animal husbandry, and the home, several key players in the industry have increased research and development activities on acaricides. According to the studies done by researchers in the acaricide market, several benefits of acaricides have led to higher sales across the forecast period.
Few major players are holding the majority of the market share in the global acaricide market landscape. Owing to the surging product innovation in the market, focus on increasing retail availability has been on the rise.
Leading players are envisioning a future in the acaricide market where digital platforms consist of full transparency and traceability across the food value chain, enabling value chain actors to ease out the process of buying and selling along with fair price comparison, review, and rate.
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More Insights into theAcaricide Market
North America is predicted to hold the largest market share in the global acaricide market by accounting for 16.5% of the total revenue. The rising need for pesticides in expanding economies such as the U.S., Canada, and Mexico drives regional demand for acaricide.
North American market is expected to rise at a robust pace in several sectors like agriculture, due to the increased use of crop protection agents to reduce tick- and mite-borne diseases. Rising demand for crops and animal feeds is predicted to bolster the crop protection business in the market.
Being a significant acaricide consumer, the North American region is expected to have the largest sales since agriculture is one of the largest markets for acaricides and one of the fastest growing. Because of these properties, demand for acaricide is expected to rise.
Key Segments Profiled in the Acaricide Market Survey
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