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The acaricides market share in Europe is expected to increase by USD 238.99 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.67%.
This acaricides market in Europe research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers acaricides market segmentation in Europe by application (agriculture, animal husbandry, and others) and geography (Germany, Spain, France, Poland, and Rest of Europe). The acaricides market report in Europe also offers information on several market vendors, including BASF SE, Bayer AG, Dow Inc., FMC Corp., LANXESS AG, Merck and Co. Inc., Nissan Chemical Corp., Nufarm Ltd., Syngenta AG, and UPL Ltd. among others.
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The increasing need for bio-based acaricides is notably driving the acaricides market growth in Europe, although factors such as the ineffectiveness of acaricides and the possibility of resistance may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the acaricides industry in Europe. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Acaricides Market Driver in Europe
One of the key factors driving the acaricides market growth in Europe is the increasing need for bio-based acaricides. Bio-based acaricides are being manufactured as a result of safety concerns and the increase in organic farming. For example, ?ESTEN 80? is a bio-based acaricide developed by TENSAC (AR), a South American company, and comprises a fatty acid derivative from vegetable oil and sugar. In the European market at present, there are several providers and producers of "ESTEN 80" acaricide. The biodegradable features and safety profiles of such bio-based acaricides have been instrumental in them gaining traction in a region (Europe) that is becoming more supportive of organic farming. Producing a chemical pesticide takes around 10-12 years and involves a total cost of $300 million. On the other hand, a bio-based pesticide/acaricide can be commercialized and enter the market within 3-5 years with a development cost of $3.0-$5.0 million. This, in turn, will contribute to the growth of the market.
Key Acaricides Market Trend in Europe
The increasing demand for natural products is another factor supporting the acaricides market share growth in Europe. Acarids cause millions of dollars in damage each year as a result of infestations in animals, plants, and people. They have a direct impact on human health and prosperity as they are not only animal and plant parasites but also disease vectors and allergens. Pesticides have been used indiscriminately, destroying many of the natural adversaries of formerly innocuous species and swiftly inducing resistance in many parasites. Plant-derived pesticides, including acaricides, are typically more easily degradable and may have a lower environmental impact than chemically manufactured medications. For these reasons, the anti-acarid efficacy of plant extracts is increasingly being studied in order to get new leads, as evidenced by recent studies that have examined and validated the efficiency of various plant components against bacteria, fungi, protozoa, helminths, and arthropods
Key Acaricides Market Challenge in Europe
The ineffectiveness of acaricides and the possibility of resistance will be a major challenge for the acaricides market in Europe during the forecast period. Poultry producers across the world have noted a decrease in the effectiveness of these compounds (acaricides). Resistance to acaricides in mites can be linked to acquired potential resistance or insufficient or injudicious use (wrong concentration, treatment not properly scheduled, etc.) of the product. When a lower-than-recommended dosage is used, resistance can be expedited; nevertheless, if the acaricide product is ineffective, farmers prefer to raise the required amount. This improper dosage endangers not only human and animal health but also kills sensitive individual red mites while allowing some resistant individuals to survive. As a result, fresh generations of acaricide-resistant mites may emerge. The ineffectiveness of several acaricides is becoming more common across Europe. The situation is becoming concerning, and the lower efficacy of acaricides might corroborate their widespread and inappropriate usage by farmers. This can negatively affect the market in focus.
This acaricides market in Europe analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the acaricides market in Europe as part of the global fertilizer and agricultural chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the acaricides market in Europe during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the acaricides market in Europe encompasses successful business strategies deployed by the key vendors. The acaricides market in Europe is fragmented and the vendors are deploying growth strategies such as focusing on product innovation, with an emphasis on boosting the retail availability of various acaricide products, to compete in the market.
BASF SE - The company offers acaricides that provide chemicals, solvents, amines, resins, glues, electronic-grade chemicals, industrial gases, basic petrochemicals, inorganic chemicals, and crop protection, under the brand name of BASF SE.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The acaricides market in Europe forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the acaricides market in Europe, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the fertilizer and agricultural chemicals market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Application
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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